RBS has failed the Bank of England’s latest stress test which was based on the group’s balance sheet as at 31st December 2015. The bank has responded saying that it has taken a number of actions since the end of last year, such as the run-down of Capital Resolution risk-weighted assets (reduced by £10.4 billion…
UK Export Finance (UKEF) has added Bank of Ireland to its panel of affiliated lenders for its trade finance support. Thus, Bank of Ireland customers will now be able to access government-backed finance to support their export activities. UKEF’s support will take the form of guarantees on working capital loans and contract bonds issued by…
UKEF, the UK’s export credit agency, has clarified key measures included in the Autumn Statement regarding financial support for UK exporters, as follows: “The new measures will see UKEF’s total risk appetite double to £5 billion and the maximum cover limit for individual markets increase by up to 100%, potentially resulting in as much as…
Business travellers and frequent visitors from a host of countries will be able to benefit from faster entry to the UK as the Government’s Registered Traveller Service is expanded. From 21st November, frequent travellers to the UK from 16 new countries will be eligible to apply for membership of the scheme, which provides the potential…
The Government has launched GREAT.gov.uk a trade hub aimed at helping firms access potential overseas orders by giving practical advice and signposting support for businesses looking to win export contracts. The new site acts as a single digital destination for trade and investment, bringing together and connecting UK businesses, international buyers and international investors. Whether…
The number of small to medium-sized exporters that expect to continue growing their overseas sales has fallen following the EU Referendum, according to the latest Business in Britain report from Lloyds Bank. However, the report shows that overall prospects are still positive and export experiences over the last six months have improved, with the US…
The UK economy will grow 2% in 2016 before slowing to 1.4% in 2017, according to the National Institute of Economic and Social Research (NIESR). At the same time, consumer price inflation will accelerate, peaking at around 4% in the second half of 2017 and making an impact on real disposable income. The think-tank expects sterling to remain…