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P2P lenders’ wind-down plans are in the FCA cross hairs: what should firms be mindful of?

On 25 May 2021, the Financial Conduct Authority (“FCA”) wrote to all of the UK’s authorised loan-based peer-to-peer (“P2P”) crowding platforms, to express its concern about areas of potential harm for investors (i.e. lenders). Amongst the four areas listed was the adequacy of current wind-down plans (WDPs), their triggers, and liquidity monitoring. In its latest communication to the P2P sector

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February 15, 2024

Housebuilders – Profit margins, finances and interest rates

The housing market is a key part of the UK national psyche. The inexorable rise in house prices has enriched baby boomers, but now unaffordable prices exacerbated by sharply higher mortgage interest rates are destroying the life prospects and restricting the lifestyles of younger generations. The government talks of supply and demand, sets unrealistic housebuilding targets and tinkers with planning

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February 13, 2024

February 2024 economic and business overview

More mixed signals on the economy mean uncertainty for UK businesses We finished 2023 with arguments raging on whether the UK was already in a shallow recession or might end up in one early this year. Now we have another batch of confusing signals. The respected EY Item Club have just upgraded their GDP growth forecast for 2024 to 0.9%

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February 1, 2024

Present and future workforce challenges for UK manufacturers

Near the top of the list of worries that keep many manufacturing bosses awake at night is hiring and retaining the right talent for an industry being overwhelmed by helter skelter technological change. Recruiting enough people was already a problem in a tight labour market, but the emphasis is increasingly moving away from the number to getting hold of staff

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January 30, 2024

Artificial intelligence – friend of foe for manufacturers?

The manufacturing sector has more experience of significant non-human involvement in its research, operations and administration than almost any other after decades using data analysis, machine learning and robotics. Now AI is being used to harness the power of these well-established methods to reshape traditional manufacturing processes. This is ushering the industry into a new era of intelligent automation in

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January 23, 2024

Corporate insolvencies hit a record high in 2023

Figures for December 2023 published by The Insolvency Service have confirmed that 2023 was a record year for business failures. The annual total of 26,595 corporate insolvency filings is just a little higher than the previous record of 26,556 set in 2009 at the peak of the global financial crisis. This figure is 14% above 2022 and 43% up on

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January 16, 2024
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