Manchester Airports Group (MAG) has sought approval from bondholders to waive any penalties on almost £2 billion of bonds and credit facilities as international travel restrictions remain in place. The group recently revealed the extent that the pandemic had affected passenger numbers, with … [Read more...]
News for: Finance
NatWest Business Activity Survey shows signs of economic recovery in North West
High-street bank, NatWest, has reported the North West economy is showing signs of recovery in its March Business Activity Index. The bank's report confirms findings by Lloyds Banking Group published at the end of March, showing business confidence to have returned to pre-pandemic levels. In … [Read more...]
Lloyds Bank reports business confidence at highest level since pandemic began
Lloyds Bank's Business Barometer survey has found business confidence across the UK to be at its highest level since the pandemic began one year ago. Respondents reported that gains in trading prospects thanks to the clarity of reopening dates for many sectors and wider optimism about the economy … [Read more...]
Chancellor delivers 2021 Budget for pandemic recovery
Chancellor Rishi Sunak has announced extensions of a number of coronavirus business support measures in the 2021 Budget. In presenting his Budget to Parliament, the Chancellor announced his priorities was in supporting those hardest hit by the pandemic’s economic impact, unveiling extensions to … [Read more...]
North-west business leaders react to 2021 Budget
Following the measures announced to support the economy after the pandemic, business and political leaders from across the North-west have reacted to how Rishi Sunak's 2021 Budget will affect the region's economy. A summary of the 2021 Budget is available here. Broadly, commitments towards … [Read more...]
Managing partner to step down from Handforth financial planning firm
The Managing Partner of Handforth based Equilibrium Financial Planning has declared her intentions to step down from the firm. Gaynor Rigby, who has led the firm since 2010, announced she will leave the role in the summer of this year. During her tenure as managing partner, the Equilibrium has … [Read more...]
Bounce Back Loan borrowers offered greater repayment flexibility
Businesses that took out a government Bounce Back loan to help them through the Coronavirus crisis now have more time and flexibility to repay. The Treasury has announced that companies who accessed the scheme would be contacted with options to extend the term length of the loan from six to 10 … [Read more...]
Handforth wealth managers target risk averse investors with new fund
Handforth based wealth managers at Equilibrium, have announced the launch of a new defensive fund, aimed at more risk-averse investors. The new fund aims to offer a lower risk option for investors, while still aiming to achieve a 3% annual return on investment. Equities and related securities … [Read more...]
KPMG reports administrations are at historic low thanks to pandemic support
Accountancy firm KPMG has reported the number of companies falling into administration fell to record lows in 2020, and attributes the figures to the government's pandemic support measures. However, while support measures have shielded many businesses from insolvency during the coronavirus … [Read more...]
NW businesses receive £6.5 billion from government backed loan schemes during pandemic
Businesses across the North-West have received around £6.5 billion through accessing two government backed loan schemes during the pandemic, the Treasury has revealed. The Bounce Back Loan Scheme which launched in May 2020 to help businesses resume trading after the first lockdown, has supported … [Read more...]
Deloitte survey reveals optimism for 2021 among top CFOs
Finance leaders across the UK are optimistic for the a return to economic growth in 2021, according to a survey of Chief Finance Officers (CFOs) by Big 4 accountancy firm, Deloitte. Despite confidence in the national economy however, half of CFOs surveyed do not expect a return to pre-Covid … [Read more...]
Deadline for November furlough claims approaches
Businesses which made use of the Coronavirus Job Retention Scheme (CJRS or furlough) during the November lockdown have until 14th December to submit claims, HMRC has warned. The CJRS scheme was expanded in November to take into account the many people who would not be able to continue working due … [Read more...]