Credit, Collections & Insolvency News
In a speech at the Dublin Economics Workshop, Sharon Donnery, Deputy Governor of the Central Bank of Ireland, has said that while the Irish economy greatly benefits from being one of the most open in the world for trade and finance, this comes with vulnerabilities beyond our control. In the speech she said that the…
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International deceased account management specialist, Phillips & Cohen Associates has announced plans to extend its unique, compassion-based servicing to the German market by confirming a long-term lease on a prestigious Düsseldorf base. The business, which has been providing niche services to creditors since its foundation in 1997, has identified the historic and vibrant city of…
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The Financial Conduct Authority (FCA) is stepping up its efforts to ensure firms are aware of what they need to do prepare for the potential of a no-deal Brexit. Firms who have not prepared appropriately may risk an impact on their business. To help firms prepare, the FCA will be running a series of digital…
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Across nine UK regions, more than one in five small business owners (22%) are looking to expand into new markets overseas in order to achieve business growth. The latest findings from the quarterly Business Barometer research by Hitachi Capital Business Finance comes at a time when the country is gearing up for the Brexit deadline. Set against…
Read moreBank of Ireland has sold a block of €250 million non-performing loans (NPL) to US fund Cerberus Capital Managemen at 40% discount to face value. The bank will collect a net interest of about €3 million annually from the loans, which it will no longer receive after it sells on the portfolio. The deal will,…
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GfK’s latest Consumer Confidence Index showed a decrease again in August. The index measuring changes in personal finances during the last 12 months shows that confidence has decreased by two points this month to -1; this is five points lower than August 2018. The forecast for personal finances over the next 12 months decreased by…
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European credit management services specialist Lowell has announced another positive quarter in its latest results for the period 1 April to 30 June 2019,The company says it has a strong pipeline across all regions with £166 million capital deployed on portfolio acquisitions in H1 2019 Colin Storrar, Group CEO, said ”I am really pleased to…
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Corporate insolvencies are on the rise globally due to the more challenging economic environment and high policy uncertainty according to a new report by Atradius. The report says business failures in developed markets are forecast to increase 2.8% in 2019 – the first annual increase in a decade – followed by another 1.2% increase in 2020.…
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Dun & Bradstreet’s latest UK Industry report has revealed that retailers continued to face a challenging business environment throughout the first half of the year. Between falling year-on-year sales, as reported by both the BRC and ONS, and a growing number of vacant stores, retailers are feeling the brunt of consumer uncertainty, particularly surrounding the…
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A new report by Credit Benchmark has highlighted the pressure of Brexit on Restaurant and Bar businesses. The report says that the UK industry has been suffering under the ‘Brexit Effect’ for some time now, with a downturn observed across both large and smaller businesses around the country. One of the hardest hit industries has…
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Financial relationship management solution specialist, Rimilia has announced the opening of a new regional technical hub in Toronto, Canada. This is the second office that Rimilia has opened in the last six months as a result of continued high growth. The Toronto office will focus on Tech Services, Customer Support and AI Development to support…
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UK businesses trade all year round yet more than a quarter (27.4% or £548b) of their revenue is driven by seasonal peaks according to the latest research by MarketInvoice Business Insights, the survey explores their preparedness and challenges in dealing with seasonal demand. Seasonal demand refers to peaks in business activity that correspond to various factors…
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The finalists for the third annual Credit & Collections Technology Awards, the UK’s celebration of tech innovators in credit and collections, have been revealed. The Credit & Collections Technology Awards, organised by Credit Connect and hosted at the Credit Services Association’s UK Credit and Collections Conference, brings together credit and collections technology executives to honour the industry’s…
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