Lloyds Bank and construction group, Balfour Beatty, have announced they have agreed to convert a £375 million revolving credit facility to a sustainability linked loan. The deal represents the largest sustainability linked loan ever provided in the UK construction sector, and will see Balfour … [Read more...]
News for: Finance
NatWest pledges £100 billion to finance transition to net-zero
High street bank NatWest has pledged to provide £100 billion of Climate and Sustainable Funding and Financing (CSFF) to support the investment needed for transition to net-zero. The pledge follows a report from the bank that sets out the economic opportunities presented by the transition to more … [Read more...]
Businesses given more time to prepare for digital tax changes
HMRC has given businesses an extra year to prepare for digital tax changes, with the digitisation of Income Tax now being introduced in April 2024. The delay in implementing Making Tax Digital for Income Tax comes in response to feedback from businesses and organisations representing them in … [Read more...]
John Lewis launches first investment products
Retailer John Lewis has announced a partnership with digital wealth manager, Nutmeg, to launch its first investment products. Nutmeg and John Lewis plan to launch three new investment products to offer a simple way for first-time investors to consider stocks and shares over traditional savings … [Read more...]
Government backed insurance scheme launches for events sector
A £750 million government-backed insurance scheme is to launch to give the entertainment and events sector confidence to plan live events in the coming months and into next year. Despite the easing of coronavirus restrictions, the challenges of securing insurance during the pandemic is proving a … [Read more...]
UK sees record lowest number of profit warnings in second quarter 2021
EY's Parthenon Report has has recorded the lowest ever number of profit warnings from listed businesses across the UK during the period April to June 2021 since it began analysis 22 years ago. Nationwide, just 32 profit warnings were issued by listed businesses, of which a quarter came from … [Read more...]
North West sees rising demand for debt finance
Business and finance advisors in the North West believe the region's small businesses will require additional debt finance as a result of the pandemic, according to the British Business Bank. In a survey of business advisors conducted by Ipsos MORI for the British Business Bank, demand for … [Read more...]
Challenger bank appoints two Non-Executive Directors
A challenger bank focused on lending to SMEs in underserved regions of the UK has announced the appointment of two independent Non-Executive Directors to its board. GBB is a new specialist bank that will focusing on bringing financial support to SME property developers, particularly in the North … [Read more...]
Global fintech group joins tech community at the Glasshouse
Global fintech firm, Quint Group, is the latest business to join a growing community of businesses at Alderley Park's Glasshouse tech hub. The group, which owns a number of fintech businesses focused on improving access to credit, has operations as far afield as San Diego, Warsaw, Sydney, Cape … [Read more...]
Deadline approaches for businesses to join VAT Deferral New Payment Scheme
Businesses that deferred VAT payments last year have one month left until the deadline to join online to pay in monthly instalments under the VAT Deferral New Payment Scheme, HM Revenue and Customs (HMRC) has confirmed. The online portal for the new payment scheme closes on 21 June 2021. Over … [Read more...]
Macclesfield car finance company creates 80 new roles
Macclesfield and Manchester-based car finance company, Zuto, has announced 80 new hires across its two sites in the North West. The firm, which has welcomed 165 new employees since last June, has been buoyed by an increase in used car sales during lockdown as people have turned to private cars to … [Read more...]
Airport operator seeks waivers on financial commitments as pandemic impact continues
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...]