UK lenders are predicting an explosion in the number of businesses seeking short-term finance in early 2008 to escape their current banking facilities to seek a better deal elsewhere, according to analysis from Bridging Finance Limited. A triple whammy of the credit crunch, threat of UK recession and cautious lending criteria applied by banks is causing businesses to be more promiscuous with their banking arrangements. According to the Bank of England, business lending increased in the third quarter for both other financial corporations (OFCs) and non-financial corporations (NFCs). Lending to OFCs rose by £41.8bn in the quarter, including £27.7bn to other financial intermediaries and £11.2bn in business loans for fund management activities.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.