Category: Finance

Consumer borrowing slows

Finance

The Bank of England reported that the annual growth of unsecured lending in the month fell to 6.6%, down from 7.2% in November. This was the weakest figure since December 2014. Credit-card lending growth slowed to 7.1%, down from 7.9% the previous month. Surveys have shown consumer confidence to...

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Intermediaries predict specialist lending growth in 2019

Finance

Some 75% of intermediaries expect specialist lending sales to increase in 2019, according to research from Masthaven. A survey found that intermediaries top three growth challenges for the year ahead will be lending criteria (35%), regulation (27%) and lack of innovation (18%), although only 2.5% say they expect sales...

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Red light warnings to flag late payers

Finance, Economy

Small business commissioner Paul Uppal will this week unveil plans that will see large firms that fail to pay their suppliers on time named and shamed. The traffic light warning system will use data on payment practices to highlight repeated late payers, giving them a red light to flag...

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Retailers fail to convince MPs over trade practices

Finance, Political

Major clothes retailers in the UK yesterday faced MPs demanding to know how selling low-cost items was sustainable. Boohoo, Misguided, Asos, Burberry and Marks & Spencer defended themselves against suggestions the consumption of “fast fashion” fuelled a throwaway culture, harmed the planet and risked the exploitation of workers. Labour...

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SMEs’ top concerns revealed

Finance, Economy, Brexit

A survey by Dun & Bradstreet has revealed that Brexit is the biggest concern among SMEs, with 41% of those responding to a survey fearing it could negatively impact their ability to recruit the right talent in the future, and 40% believe it has significantly slowed their growth. Some...

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Shoppers switch to credit cards

Finance, Economy

Shoppers are increasingly using their credit cards for day-to-day spending rather than one-off purchases, UK Finances has said. Credit card spending saw a sharp rise of 12.1% in October compared with the same month in 2017, according to the trade body. The greater protection offered when buying bigger purchases...

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