The Bank of England’s (BoE) Monetary Policy Committee convened today, voting to keep the official Bank Rate paid on commercial bank reserves at 0.5%. This marks the 22nd consecutive month of the lowered interest rate- first implemented in March 2009 in order to make credit more available in light of the worsening “credit crunch”.
Firms advised proper book keeping is essential to avoid £3,000 fine
Commenting ahead of Thursday’s Monetary Policy Committee (MPC) decision, David Kern, Chief Economist at the British Chambers of Commerce comments
Looking ahead to the bonus round, Tony Manwaring CEO of leading independent international think tank Tomorrow's Company called upon City leaders to recognise the importance of establishing a renewed 'licence to operate'
The level of risk associated with doing business in the UK is continuing to diminish, according to new research by Graydon UK, the commercial credit referencing agency.
Research from November 20101 by Investec Specialist Private Bank amongst some of Britain’s most successful entrepreneurs reveals 75% expect it to be ‘difficult’ to secure capital in 2011.
Today the Prime Minister is meeting bosses of some of the biggest UK companies to discuss their plans to create employment in a bid to demonstrate a focus on economic growth rather than public sector cuts.
The Financial Services Authority (FSA) has fined Royal Bank of Scotland (RBS) and National Westminster Bank (NatWest) £2.8m for multiple failings in the way they handled customers’ complaints, responding inadequately to more than half the complaints reviewed by the FSA.
Lending under the Government's small business lending flagship the Enterprise Finance Guarantee (EFG) scheme has fallen a further 5% in the last quarter according to Aldermore, the new British bank.
Corporate insolvency and turnaround specialists, RSM Tenon predict that annual corporate insolvencies over 2010 have dropped from the record level set in 2009 of 25,432 by just over 17% to around the 21,000 mark. With the upcoming increases in VAT, cutbacks in the HMRC Time to Pay scheme and the likely rise in interest rates combined with the public sector cuts and increasing inflation, RSM Tenon is predicting that the number of corporate insolvencies for 2011 will begin to increase again with an upsurge in the latter half of this year,