Insurer RSA share price rockets after £7.1bn takeover deal approach November 6, 2020 Insurer RSA share price rockets after confirmation of break-up deal talks
Ranked: London constituencies have highest demand for Covid borrowing in UK June 15, 2021 London constituencies make up the top four UK regions which have seen the highest demand for Covid support loans, according to a new study. Business Rescue Expert collated the amount each devolved UK constituency has borrowed under the Bounce Back Loan Scheme (BBLS) and the Coronavirus Business Interruption Loan Scheme (CBILS). The City tops the [...]
Furlough: Extra 200,000 workers temporarily laid off in February March 25, 2021 The government paid out almost £4bn in additional furlough costs last month as a further 200,000 people were temporarily laid off. HM Revenue and Customs said it has paid a total of £57.7bn in furlough claims to around 11.4m workers since the pandemic began a year ago. Separate data published today by the Office for [...]
Charm offensive: Hiscox prepares to woo customers following pandemic ‘brand damage’ March 3, 2021 Insurance giant intends to build back its reputation “one policy at a time”, after the Covid-19 pandemic and subsequent court case left the business facing “brand damage”. Earlier this year Hiscox came under fire after customers complained they were not being granted payouts on claims made on their business interruption insurance. In a landmark case [...]
‘It’s a pivotal time’ November 16, 2021 Interview with Simon Kenyon, Group Ambassador for London, Lloyds Banking Group Taking the pulse of London’s financial health is not easy: for every business that’s thriving, or at least showing ‘bouncebackability’ from the pandemic, there are others struggling to keep the wolf from the door. But the economic pulse is beating a little faster inside the [...]
Tracking the pandemic’s impacts on small business February 18, 2021 Next week the Government will provide an update on the lockdown exit plan with a much-speculated upon roadmap to recovery out of the pandemic. This roadmap needs clear signposts and barrier-free routes to help small and medium enterprises (SMEs) recover. It has been a turbulent year for them, evidenced in results from the ACCA UK [...]
Exclusive: Crunch time for insurers on Covid-19 discount decisions November 30, 2020 It is crunch time for the insurance industry, which now must decide what Covid-19 refunds and discounts to give customers ahead of the deadline set by the city regulator. Insurers have until 3 December to decide where, if at all, it is appropriate to apply Covid-19 related refunds or discounts on insurance policies. The Financial [...]
Covid support scheme lands Funding Circle record loans under management March 25, 2021 The number of loans under management at lending platform Funding Circle hit a record in 2020, with the firm’s involvement in the Covid support scheme giving a boost to the business. In 2020 Funding Circle achieved record loans under management of £4.21bn, up from £3.73bn in 2019 – a 13 per cent increase. The lender [...]
Exclusive: ‘Normal’ bank lending to SMEs down 10 per cent in 2020 as emergency loan use explodes February 10, 2021 Non-emergency lending by banks to SMEs dropped 10 per cent in 2020, while emergency coronavirus funding ballooned. ‘Normal’ lending to SMEs fell from £168bn in December 2019 to £152bn a year later, research by debt specialist ACP Altenburg Advisory found. At the same time, emergency coronavirus funding via the Coronavirus Business Interruption Loan Scheme (CBLIS) [...]
Greensill Covid loan accreditation in line with ‘streamlined’ approval process July 7, 2021 The decision to grant collapsed Greensill Capital the ability to hand out Covid loans was in line with the approved accreditation process, but a stricter set of criteria could have identified the firm’s issues, a new report has found. The National Audit Office (NAO) also said that the British Business Bank (BBB), which administers the [...]