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Complaints to the Financial Ombudsman Service about guarantor-backed high-cost loans have increased by more than 3,000% in a year and now average almost 800 a week. According to the latest data released by the financial ombudsman, the increase in complaints means lender Amigo, which is the largest p

UK Finance has published detailed proposals for a new service company which will support the UK’s world-leading open banking infrastructure. Open Banking (OB) provides a secure way for financial information to be shared across different finance providers. It enables services such as account ag

Financial services firms in the UK moved nearly £100 billion in assets to the EU in the last months of 2020, according to EY's latest Brexit Tracker. The shift has taken the total value of assets lost to EU countries since the Brexit vote to £1.3 trillion.

PwC UK has predicted that global insurance run-off liabilities will reach $864 billion in 2021. According to the firm's latest Global Insurance Run-off Survey, the growth in legacy activity predicted in the last edition of this report has materialised, boosted by significant investment in both new a

Economy secretary Fiona Hyslop is calling on the UK Government to provide further support to companies struggling to trade with the EU post-Brexit. Urgent financial assistance is needed to help small businesses hire customs agents to deal with the additional bureaucracy involved with importing from

Perth-based Cameron Motor Group has recorded a drop in sales worth over £16 million in the last financial year, as the impact of the coronavirus pandemic took its toll on the firm's finances. Annual results filed with Companies House have revealed that the firm's turnover in the year to the en

A package of measures worth £37.2 million has been announced by the Scottish Government to tackle poverty and inequality, in this financial year. The funding, confirmed in a Statement to Parliament by finance secretary Kate Forbes this week, will support the delivery of two key investments for

Brewin Dolphin has appointed Johnny McGlynn as its new head of office for Edinburgh. Mr McGlynn joined Brewin Dolphin in 2009 as head of financial planning for Edinburgh, a role he held for five years before becoming head of business development and growth for the office. Johnny graduated from Edinb

Law firm Thorntons has recorded strong financial results for the financial period prior to the COVID-19 pandemic. Thorntons has reported a 2.6% growth in turnover for the year to 31 May 2020 to £30.5 million, with profits increasing by 12 per cent.

Azets is celebrating the start of National Apprenticeship Week by announcing that the business has recruited 443 apprentices during the current financial year. Across the UK, Azets has over 900 students and trainees studying professional qualifications, of which 443 are following the apprenticeship

TSB has announced its 2020 full-year results revealing a £204.6 million statutory loss before tax. The bank said that its financial performance had been 'significantly impacted' by the coronavirus pandemic.

The limit on a single contactless card payment could more than double from the current £45 limit to £100. Earlier this month, Scottish Financial News reported that UK banks were pushing the Treasury to increase the limit. Industry experts urged that raising the cap to £100 cou

Edinburgh-based technology startup Stellar Omada has recorded revenue of £10.2 million in the year to 31st December, quadrupling sales in its second financial year while growing headcount from 6 to 50 during 2020. The Colin Frame-founded tech group specialises in programme delivery, technology

Over £670,000 of additional support is being made available to Borders businesses suffering from the short-term financial impact of the COVID-19 pandemic. The Borders Discretionary Support Fund for Business is being made available to small businesses and the self-employed in the area who have

Edinburgh-based financial services training provider Redmill Advance has announced its new partnership with St. James’s Place Wealth Management in the provision of its blended learning solutions across the group. Redmill Advance will be responsible for delivering its Diploma in Regulated