SMEs in the North West will be able to continue to access finance to support investment and growth following the launch of the Growth Guarantee Scheme from the British Business Bank. The scheme, the successor to the Recovery Loan Scheme introduced after the Covid-19 pandemic, is expected to … [Read more...]
News for: Finance
£55 million debt raise for Greater Manchester EV charging network
Greater Manchester EV charging network, Be.EV has announced a debt raise of £55 million to strengthen its nationwide expansion. Be.EV recently completed installation of a new EV charging hub in Stockport at Romiley Precinct as part of a £15 million deal with Stockport Council to deliver 100 new … [Read more...]
Bank of England continues to hold interest rates at 5.25%
Leading economists on the Monetary Policy Committee (MPC) of the Bank of England have once again chosen to hold interest rates at their current 16-year high of 5.25%. Committee members voted 7-2 in favour of keeping rates at 5.25% for at least a further six weeks; the two members voting against … [Read more...]
Inflation slowed to 2% target level in May
The headline rate of inflation slowed to 2% in May, according to latest Consumer Price Index data (CPI) from the Office of National Statistics (ONS). Inflation fell 0.3 percentage points from April's figure of 2.3%, bringing the rate of inflation back down to the Bank of England's target rate and … [Read more...]
Private equity investor plans to inject £100 million into North West businesses
Private equity and infrastructure investor, Foresight Group, has announced ambitions to invest £100 million into companies in North West England. The move represents the firm's second fund specifically for the region. Foresight Group has previously backed 17 businesses, which have supported the … [Read more...]
Tenant demand for sustainable properties soars, finds Handelsbanken survey
A survey of property investors by Handelsbanken has found that almost all have seen requests from tenants for some form of sustainability measures in the last year. According to the bank’s latest annual Property Investor Report, 92% of investors (with an average 35 properties each) asking for … [Read more...]
Azets Barometer reveals gap in optimism between small and medium-sized businesses
UK accountancy firm, Azets, which has 90 offices nationwide including in Stockport, has revealed that medium-sized businesses are more optimistic about the future than smaller firms, according to the firm's Azets Barometer survey. The survey, conducted in April 2024, features 353 responses from … [Read more...]
King Charles III banknotes enter circulation
The first new polymer banknotes featuring the portrait of King Charles III have begun to enter circulation from 5th June. The King’s image will appear on the front of the £5, £10, £20, and £50 notes, as well as in cameo in the see-through security window. No other changes to the designs or … [Read more...]
Together loan book reaches £7 billion
Cheadle-based specialist lender, Together, has revealed its loan book has reached £7 billion in its latest quarterly results to March 31st 2024. Alongside growth in its loan book, the non-bank lender has also seen average monthly lending increase by 24% compared to the same quarter last year to … [Read more...]
Vernon Building Society appoints first Head of Change Management
Stockport mutual, Vernon Building Society, has appointed Stephen Monaghan to the newly created role of Head of Change Management to oversee a number of important transformational IT projects. Stephen (pictured) will take responsibility for overseeing the Vernon’s smooth transition to a new … [Read more...]
Inflation falls further to 2.3%
Inflation has fallen in April to 2.3%, its lowest rate in nearly three years and close to the Bank of England's 2% target, latest data from the Office of National Statistics (ONS) has shown. The ONS Consumer Price Index (CPI) has revealed its headline measure of inflation has fallen to 2.3% in … [Read more...]
Together finances luxury Cheshire apartment development
A development finance facility from Cheadle-based property lender Together has financed a development of six apartments in Prestbury, Cheshire. Once construction completes in June, the exclusive development of six apartments – including two penthouses – will go on the market for between £2 … [Read more...]
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