This week is the last week when paper £20 and £50 banknotes will be legal tender, with the notes being withdrawn from circulation from 30th September. Businesses will no longer accept this banknotes, featuring economist Adam Smith and engineers Boulton and Watt from Friday 30th September, with … [Read more...]
News for: Finance
Chancellor unveils Growth Plan with raft of tax cuts
Chancellor Kwasi Kwarteng has announced a new Growth Plan for the UK economy, unveiling a series of major tax cuts for individuals and businesses. Following the Bank of England's reveal yesterday that it believes the country's economy is now in recession, the Chancellor's 'mini-budget' sets out … [Read more...]
Homes England announces new development finance fund for SME housebuilders
Homes England has partnered with Newstead Capital to support SME housebuilders with a new long-term development finance fund. Homes England, alongside Greater Manchester Pension Fund, clients of listed wealth manager Mattioli Woods and other private institutional investors, have committed £80m to … [Read more...]
Interest rates rise to 2.25%
The Bank of England's Monetary Policy Committee has voted to raise base interest rates by 0.5 percentage points to 2.25%. Interest rates now stand at their highest level since the November 2008 during the global financial crisis, although remain well below the double figure rates seen throughout … [Read more...]
Corporate insolvencies rose 5.5% in August amid cost-of-living crisis
Corporate insolvencies rose 5.5% in August on the previous month's figures, according to the government's latest statistics published on 16th September. 1,933 registered company insolvencies were recorded last month by the Insolvency Service, a rise of over 40% on both last August's figures, and … [Read more...]
Record originations behind strong loan book growth at Together
Cheadle-based specialist lender Together has revealed record originations have driven up the value of its loan book to £5.2 billion in its Full Year Results to June 30th 2022. The lender's loan book has grown by more than £1 billion over the 12 month period, with average monthly loan originations … [Read more...]
North-west M&A market hit £4.1 billion in transactions in Q1 2022
The Mergers and Acquisitions (M&A) market in the North-west saw transactions totalling £4.1 billion in the first quarter of 2022, according to analysis by Experian. Compared to the same period last year, the total value of deals rose 9.6% in the region, although was well below the previous … [Read more...]
New partnership to unlock funding to improve energy efficiency of Greater Manchester homes
Greater Manchester Combined Authority (GMCA) and the Green Finance Institute have entered into a new partnership to provide funding for homeowners to improve the energy efficiency owner-occupied and privately-rented homes in the city-region. The partnership marks a key milestone in delivery of … [Read more...]
August inflation dips slightly to 9.9%
The August Consumer Price Index (CPI) has recorded a 0.2 percentage point dip in the annual rate of inflation on the previous month's record high. The latest ONS data reveals inflation remains high, but dipped slightly to 9.9% year-on-year price growth. The downward pressure on prices was largely … [Read more...]
Upcoming South Manchester Financial & Professional Network event postponed until December
The upcoming meeting of the South Manchester Financial & Professional Network, due to take place on September 22nd has been postponed until Thursday 1st December 2022. The Deputy Agent for the Bank of England in the North West, Ken Clark, had been due to speak at the event to discuss the … [Read more...]
Liz Truss announces plans to cap household and business energy bills
Prime Minister Liz Truss has unveiled new proposals to curb both domestic and commercial energy bills. In an address to Parliament this morning (8th September), the newly appointed Prime Minister announced proposals to cap domestic energy bills from 1st October at £2,500 for a typical household … [Read more...]
Hallidays shares top financial news stories for September
Stockport accountancy firm, Hallidays have outlined new details released for Making Tax Digital for landlords and sole traders, and the latest Ofgem price cap in their September round-up of need-to-know financial news stories. HMRC releases more details MTD for Income TaxHMRC has published more … [Read more...]
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