Credit, Collections & Insolvency News
European credit management service provider, Intrum has announced a partnership with Aryza Group to leverage its software solution in the Netherlands. The credit management specialist has implemented Aryza Control software which will enable Intrum to distinguish between individuals who are genuinely unable to pay and those who are unwilling to fulfil their obligations, enabling them…
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Latest data from the Office of National Statistics (ONS) has shown that the annual rate of CPI inflation fell to 7.9% in June 2023. The figures is down from 8.7% in May and well below market expectations. Inflation peaked at 11.1% in October. Core CPI inflation (stripping out energy, food, alcohol and tobacco) finally fell…
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Deloitte’s quarterly survey of Chief Financial Officers (CFOs) has shown that tighter monetary policy is considered the main threat to British businesses, with concerns over inflation and interest rates pushing ahead of fears about geopolitical issues and energy prices. Confidence among the finance leaders of the UK’s largest firms has dipped in the second quarter,…
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More than a fifth (22%) of UK business leaders now believe their business to be “extremely resilient”– suggesting organisations in the UK have learned to adapt to the long-term economic turbulence of the last decade. According to Dun & Bradstreet’s Data-Driven Resilience report – which surveyed 3,396 business leaders across 18 countries – three years of pessimistic outlooks…
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The Institute of Directors (IoD) Economic Confidence Index, which measures business leader optimism in prospects for the UK economy, fell to -31 in June 2023, down from -6 in May, wiping out the improvements recorded since the beginning of the year. The reasons for the drop are greater concerns around inflation and, separately, falling customer…
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Retail sales shrugged off the expected drag from May’s extra bank holiday, rising for the second successive month however the EY ITEM Club is predicting that persistent inflationary pressures and rising mortgage costs mean a sustained retail renaissance is unlikely in the near-term, with sales growth set to remain slow throughout this year. Low unemployment…
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The Bank of England has hiked interest rates by 0.5 percentage points to 5%. Rates have now hit the highest level in 15 years it’s the 13th time that the Bank of England has increased bank rates, with its Monetary Policy Committee (MPC) voting by a majority of seven to two to raise rates by…
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Latest data from the Office of National Statistics (ONS) has showed the annual rate of CPI inflation remained flat at 8.7% in May 2023, with core inflation rising from 6.8% to 7.1%, There is no a fear that the rise in core inflation could spook the markets with core inflation (stripping out energy, food, alcohol…
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Latest Office for National Statistics (ONS) data shows that the economy returned to growth in April, with a 0.2% increase. The latest figures marks an improvement on the 0.3% fall recorded in March. The ONS report also shows that the economy expanded by 0.1% in the three months to April. Commenting on GDP figures for…
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Just under half (45%) of small businesses say economic uncertainty is holding their business back, with the figure is up from 36% a year ago according to research by Novuna Business Finance With the percentage of small businesses predicting growth remaining static at around 33% for the third consecutive quarter. Overall, eight in ten small…
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Continued supply chain pressures, including cost increases, delayed materials and shortages outrank workforce challenges and increasing business costs as a main concern for over a third (36%) of mid-sized businesses, according to latest research from accountancy and business advisory firm BDO. The bi-monthly survey – which looks at the challenges and opportunities facing mid-sized businesses…
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Sentiment among British businesses declined in May, with firms concerned over the economy and their trading prospects. Lloyds Bank’s Business Barometer fell to 28% in May from 33% in April, marking the first decline in three months, while optimism over the economy fell by six points to 22%. Confidence levels remain in line with the…
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The Institute of Directors (IoD) Directors’ Economic Confidence Index, which measures business leader optimism in prospects for the UK economy, stabilised at -6 in May 2023, little changed from the previous month’s value of -5 and ending a five-month climb from a low of -64 in November 2022. The current reading is a broadly neutral-to-negative…
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