Category: Finance

CMA says price comparison site may be breaking the law

Finance, Economy

The Competition and Markets Authority has accused price comparison site ComparetheMarket of keeping the cost of home insurance premiums artificially high by using so-called “most favoured nation” clauses with insurers to stop them advertising more cheaply elsewhere. The finding could result in a fine of up to 10% of...

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JLR reports loss, announces cuts

Finance, Economy

Jaguar Land Rover has reported a pre-tax loss of £90m in the third quarter after car sales fell sharply. As a result, the company will reduce annual investment from £4.5bn to £4bn this year and next, while reducing the stock of finished cars it holds and its working capital...

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Business leaders more optimistic after meeting PM

Finance, Economy

Business leaders are reportedly more optimistic after a meeting with Theresa May and Philip Hammond following the Budget. Legal and General CEO Nigel Wilson said there was a new “assured confidence” from the PM and the chancellor about the Brexit negotiations and Britain’s future. Brexit did remain a source of...

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Alternative finance thriving

Finance

According to a report by the Organisation for Economic Co-operation and Development (OECD) only 6.5% of SMEs that use alternative finance methods file for bankruptcy. While alternative finance is thriving amongst SMEs, there are still concerns over the lack of transparency and the difficulties with due diligence procedures. Click...

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SME staff annoyed by managing business expenses

Finance, Economy

A survey of more than 1,000 SME employees by Censuswide has found that 57% of respondents said they had experienced financial difficulties while waiting to be reimbursed for travel expenses paid out of their own pockets. Almost a third said it was the most annoying thing about travelling for...

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NACFB Compliance: FCA confirms SME access to FOS

Finance, Economy

The Financial Conduct Authority (FCA) has confirmed plans to extend access to the Financial Ombudsman Service (FOS) to more small and medium-sized enterprises (SMEs). The changes will mean that SMEs with an annual turnover below £6.5m and fewer than 50 employees, or an annual balance sheet below £5m will...

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