Credit, Collections & Insolvency News
The number of UK sectors reporting greater output increased in June, according to the latest Lloyds Bank UK Sector Tracker. However, businesses across the economy saw weaker demand as inflation dampened customer spending. In June, nine out of the 14 sectors monitored by the Tracker reported activity up, compared to eight in May and 11…
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A new survey from Hodge has found that 76% of people in the UK are poised to stop dining out and a further 59% to stop socialising to help manage the rising cost of living. Hodge’s “Cost of Living” whitepaper features the findings from research which questioned 1,000 people on how they are managing their…
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The UK’s economic growth prospects have been downgraded again in the latest EY ITEM Club forecast, However, the Summer Forecast says that the UK should narrowly avoid a recession – provided there are no further energy price shocks and the Bank of England doesn’t tighten monetary policy too quickly. The EY ITEM Club forecasts UK…
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Analysis by Xero Small Business Insights and Accenture has found that the average UK small business faces a cashflow crunch when monthly revenues are not enough to cover outgoings. The report also found cash flow challenges are undermining the growth and operations of at least 9 in 10 small businesses in the UK. The report…
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Dun & Bradstreet research has revealed that a fifth of businesses have either lost or failed to sign a new contract due to a lack of data or inaccurate information about customers or suppliers Research commissioned by the company has found that over half (53%) of business leaders admit that data will become more important…
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The Government has announced that the Government-backed Recovery Loan Scheme to small businesses will be extended by a further two years. The Recovery Loan Scheme was originally launched in April 2021 to help businesses recovering from the Covid-19 pandemic and has supported almost 19,000 businesses with an average of £202,000 in support. The scheme has…
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European investor and alternative asset manager in credit and real estate Arrow Global has announced the opening of a new office in Luxembourg City. Arrow’s ACO 1 Fund vehicle is already located within Luxembourg. Arrow says that the opening of this local office will allow the group to deliver optimum infrastructure to this and future…
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The equity release market is heading towards £6 billion new lending this year after a record first half which saw the average customer release just over £100,000 in property wealth, new data from the UK’s leading equity release adviser Key Later Life Finance shows. The figures show that plan sales grew by 24.5% in the…
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Younger adults are significantly more likely to have talked about money matters with their parents when growing up compared to the generations that went before them. Three in four (76%) 18-24-year-olds spoke to their parents about money matters when they were growing up. This compares to just 43% of those 65 or over, 52% of…
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Rising food and fuel prices sent CPI inflation to a fresh 40-year high of 9.4 per cent in June. The latest inflation rise was driven by the sharpest single month rise in petrol prices since at least 1989 and food price inflation, which hit a 13-year high 9.8 per cent. Inflation is expected to increase…
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The wealth gap between the top tenth of households and those in the middle tenth has expanded to a record £1.2m per adult, research by the Resolution Foundation has found. In 2006 the average household in the richest tenth held wealth of nearly £900,000 more per adult than a family in the middle decile. By…
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New research from Aviva shows that more than half of over 55s want to see the benefit of giving significant financial help to their family while they are still alive, rather than leave an inheritance in a will. The findings come as other trends suggest a move away from leaving money to family only after…
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Asda and Jaja Finance have announced a partnership to offer a new reward credit card where customers will earn Asda Pounds that they can later spend in Asda stores and online. Shoppers could earn 1% back in Asda Pounds when using the card to buy their groceries, fuel and other Asda services, with and additional…
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