Alderley Park-based financial services group, Royal London, has announced the acquisition of later-life specialist mortgage broker and lender, the Responsible Group. The Responsible Group was established in 2010, and acquisition by Royal London builds on the financial service provider's existing … [Read more...]
News for: Finance
October saw inflation fall to 4.6%
The rate of inflation has fallen to less than half the rate seen at the start of 2023 according to the the Office of National Statistics' (ONS) headline measure of inflation, the Consumer Price Index (CPI). The latest CPI data shows inflation having fallen 2.1 percentage points to 4.6%, down from … [Read more...]
Bank of England keeps interest rates 5.25%
Economists on the Bank of England’s Monetary Policy Committee (MPC) once again voted to hold interest rates at 5.25% when they met on 2nd November. The MPC voted 6-3 in favour of the hold, with those opposing calling for 0.25 percentage point rise in the bank’s base rate, although rates remain at … [Read more...]
One in five SME owners planning to sell by 2025, finds Handelsbanken study
A study conducted for Handelsbanken Wealth & Asset Management has found that one in five SME business owners plan to sell all or part of their business within the next two years. The survey also found a further 11% will seek to downsize during the same period. Of those considering sale or … [Read more...]
Bank of England keeps interest rates at 5.25%
The Bank of England’s Monetary Policy Committee met on 21st September and opted to hold interest rates at 5.25% following a surprise fall in inflation. Economists at the bank voted 5-4 in favour of holding the rate at 5.25%, with those opposing the decision calling for a 0.25 percentage point … [Read more...]
Manchester Airports Group raises £360 million in bond markets
Manchester Airports Group (MAG) has raised £360 million in the UK capital markets through the issuances of an 18-year bond which attracted interest from blue-chip UK investors. The bond, issued at a rate of 6.125%, was four times oversubscribed, totalling around £1.4 billion at its peak, … [Read more...]
Start Up Loans hits £1 billion milestone of support for UK small businesses
The government-backed Start Up Loans scheme, part of the British Business Bank, has delivered more than £1 billion worth of loans to small businesses nationwide since launching in 2012. In the North-west, businesses in the region have secured almost £122 million in 13,020 loans, with an average … [Read more...]
North West business activity fell in August, finds NatWest business survey
Business activity levels across the North West fell for the first time in seven months in August, according to the latest Regional PMI survey by high street bank NatWest. The headline North West PMI Business Activity Index – a seasonally adjusted index that measures the month-on-month change in … [Read more...]
Inflation dropped to 15 month low in July
The CPI, the Office for National Statistics’ (ONS) headline measure of annual inflation, stood at 6.8% in July, down from 7.9% in the previous month. The fall by 1.1 percentage points in the CPI brings inflation to its lowest level in 15 months. Month-on-month, the ONS recorded a 0.4% fall in … [Read more...]
Interest rates rise to 5.25%
The Bank of England has raised its base interest rates to 5.25%, their highest level in 15 years as it continues to respond to high inflation. The latest 0.25 percentage point rise represents the fourteenth consecutive decision by the Bank’s Monetary Policy Committee to increase the base rate of … [Read more...]
Wilmslow fitness group secures £6.5 million refinancing
Wilmslow based health and fitness club operator, Total Fitness, has secured a £6.5 million loan from OakNorth Bank. The loan will refinance an existing debt facility, as well as support the refurbishment of several of Total Fitness's clubs. The deal also includes a debt accordion to support … [Read more...]
NatWest reveals fifth consecutive rise in business activity in the North West in June PMI survey
Firms in the North West recorded a fifth consecutive monthly rise in business activity in June, according to the latest NatWest UK Regional PMI survey. Despite the continued uplift in activity, the rate of growth eased to its slowest level since March following a drop in inflows of new work, with … [Read more...]