New data from IHS Markit suggests that British households have become increasingly pessimistic regarding the long-term economic prospects following last year’s vote to leave the EU. The March poll, conducted by Ipsos MORI, showed the proportion of people expecting the UK economy to fare better over the next ten years falling to 29%, down from…

The UK manufacturing sector remained solid at the end of the first quarter of 2017, with the Markit/CIPS Purchasing Managers’ Index. recording 54.2 in March (54.5 in February) having remained above the neutral mark of 50.0 for the eighth successive month. The latest PMI reading compared favourably to its long-run trend (51.6) although sector data…

Britain’s smallest companies have scaled back plans to invest in their businesses, according to the latest Lloyds Bank Business in Britain research. Companies with a turnover of less than £1 million expect to invest an average of £21,690 in their businesses in the next six months – a fall of 74% since July, when firms…

A significant proportion of small businesses across the UK are preparing to reduce investment and staff costs once business rates rise next month, according to a new survey from the Federation of Small Businesses (FSB). The research finds that more than a third of small firms expect to see their business rates increase from 1st…

New measures to support Britain’s Artificial Intelligence (AI) sector are set to be announced by the Government, with proposals expected to include: • A major AI review to identify the critical elements for the technology to thrive and grow in the UK. It will consider how Government and industry could work together to back this…

The Financial Reporting Council (FRC) is to undertake a fundamental review of the UK Corporate Governance Code. The review will take account of work done by the FRC on corporate culture and succession planning. It will also take into account the issues raised in a recent Government Green Paper which proposes linking executive remuneration with…

Plans for a new Enterprise Zone to support the UK’s space science industry have been confirmed. The project will cover three sites across Leicester and Loughborough, and aims to deliver 6,500 new jobs by building on the local area’s expertise in the sector. Leicester is already home to the National Space Centre and the new…

The Government is about to appoint the UK’s first Small Business Commissioner in a move aimed at supporting small businesses in payment disputes with their larger customers. The role includes giving general advice and information, handling complaints about payment issues and directing small businesses to existing dispute resolution services. Small Business Minister, Margot James, comments:…

The recent fall in the value of sterling is squeezing domestic sales margins, and increasing the cost base of UK businesses, according to the results of the British Chambers of Commerce’s (BCC) latest International Trade Survey. The results, which are based on the responses of nearly 1,500 businesses, indicate that the recent devaluation of pound…

British business leaders fear that UK infrastructure is lagging behind the rest of the world and feel less confident about global economic conditions over the next 12 months, according to new research from Lloyds Bank. The study, which canvassed the views of boardroom-level executives from leading UK companies and global corporates, shows that two thirds…

The UK manufacturing sector made a strong start to 2017 with output rising at the fastest rate since May 2014. New order intakes expanded at a robust pace and, according to the Markit/CIPS Purchasing Managers’ Index (PMI), price pressures intensified – input cost inflation surged to a survey record high and output charges also increased…

New research from Begbies Traynor shows that more than 275,000 companies were showing signs of “significant” financial distress at the close of 2016, representing the thirteenth consecutive quarter that corporate stress has risen on a year-on-year basis. According to the recovery specialist’s Red Flag Alert data, 276,518 businesses were experiencing “Significant” financial distress at the…

The recent slump in sterling should prompt a significant readjustment of the UK economy away from consumer spending towards exports, according to the EY ITEM Club winter forecast. But while economic growth will be better balanced it is also likely to be slower. The respected economic forecaster says that the impact of sterling in increasing…

Prime Minister Theresa May is today launching proposals for a modern Industrial Strategy aimed at building on Britain’s strengths and securing a future as a competitive, global nation. At the heart of the Strategy green paper, published today, is an offer to businesses to strike new “Sector Deals” to address sector-specific challenges and opportunities –…

UK CEOs are lagging behind the rest of the world in addressing how artificial intelligence (AI) and automation will impact their business, according to PwC research. PwC’s 20th CEO Survey, published at the World Economic Forum in Davos, reveals that nearly half (47%) of UK CEOs say they are not currently addressing the impact of…

A review looking at the uses of “limited partnerships” in the UK has been launched following recent allegations that some businesses registered in Scotland are being used for criminal purposes. Evidence is being gathered across the UK but with a particular focus on Scotland. Unlike those set up in England, Wales and Northern Ireland, Scottish…

UK business were, on average, subject to almost 230,000 cyber attacks each during 2016. According to research by internet provider, Beaming, the volume of attacks hitting individual firewalls exceeded 1,000 per day, on average, in November of last year. While a third of attacks attempted to access company databases in the first quarter of 2016,…

Business start-up numbers have fallen significantly in the last five years, according to Lloyds Bank analysis – 19% fewer new businesses were launched in the UK in November 2016 compared to November 2011. Regionally, the data from BankSearch shows that Wales has seen the largest decline in start-ups, falling by over a quarter (26%). England…

UK manufacturers expect 2017 to be another year of risks but at the same time are gearing up for the challenges ahead. According to the annual Executive Survey from EEF, the manufacturers’ organisation, almost half of companies surveyed see more risks than opportunities in the year ahead. However, in 2017 56% of firms expect to…

UK construction companies made a positive end to the year with the fastest rise in new order volumes since January 2016. Stronger demand patterns resulted in sustained job creation and a broad-based upturn in business activity during December, with the Markit/CIPS UK Construction Purchasing Managers’ Index (PMI) rising to 54.2 in December, up from 52.8…

The UK manufacturing sector ended 2016 on a positive note with rates of growth for production and new orders in December among the best seen over the past two-and-a-half years. The Markit/CIPS Purchasing Managers’ Index (PMI) rose to a 30-month high of 56.1, up from 53.6 in November and well above its long-run average (51.5). …

Private sector growth picked up pace in the three months to December, according to the CBI’s latest Growth Indicator, the final one of 2016. The survey of 788 respondents across the manufacturing, distribution and service sectors showed that growth climbed to a balance of +17%, its highest in a year. Most sectors reported an uptick…

Having undertaken a year-long study into the legal services sector, the Competition and Markets Authority (CMA) has concluded that competition in legal services for both small businesses and individual consumers is not working well. In particular, there is not enough information available on price, quality and service to help choose the best option. The CMA…

Businesses across England and Wales reported another month of solid growth in November, with output levels and employment both rising at faster rates, according to the latest Lloyds Bank Regional Purchasing Managers’ Index (PMI) survey. The PMI for England rose to a ten-month high of 55.8 up from 54.9 in October. A reading greater than…

Centrica is undertaking a trial to develop a local energy market in Cornwall, which will see the development of a virtual marketplace and the installation of new technology into over 150 homes and businesses. Over the next three years, Centrica’s Distributed Energy and Power business will work with renewable generators, local businesses and other large…

Large companies will be required to publish details on how quickly they pay their suppliers, under draft regulations set out by small business minister, Margot James. Coming into force from April 2017, a “duty to report” will require large companies and limited liability partnerships (LLPs) to publicly report twice yearly on their payment practices and…

Siemens has officially opened a new rotor blade factory for offshore wind turbines in Hull. The site at Alexandra Docks has been transformed from a derelict industrial wasteland to a high-tech manufacturing hub and shipping to the first offshore wind project is expected in early 2017. “Our new factory in Hull which we are today…

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…

Corporate Money Matters Limited. Registered in England & Wales #2403038
© 1989 - 2016 Corporate Money Matters | Website by Webfinity

STAY CONNECTED WITH US: