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One-third of Scots have less money in their current accounts since the COVID-19 lockdown came into effect, according to new research by PwC.

The Financial Conduct Authority (FCA) has set out a package of measures designed to address weaknesses across the defined benefit (DB) transfer market. It includes steps to reduce conflicts of interest by banning contingent charging, as well as help for advisers who want to do the right thing and pr

The Association of British Insurers (ABI) has welcomed the UK Government's announcement of a temporary, government-backed reinsurance scheme to help businesses access trade credit insurance as they recover from the impacts of the coronavirus pandemic. The scheme aims to help speed up the economic re

Blair Nimmo, head of restructuring at KPMG UK, details the ways in which Scottish businesses are facing uncertainty and liquidity issues in the current financial climate. In the current environment of dramatically falling consumer demand and great uncertainty, those running the UK’s businesses

BDO has taken over from KPMG as the auditor of Ted Baker. In January, Ted Baker reported that the value of inventory held on the group’s balance sheet at 26th January 2019 was overstated by £58 million, a number more than double the value of the £20-25m it initially suggested.

Begbies Traynor Group has acquired a portfolio of 503 Scottish personal insolvency cases, including a team of five fee earners, from Grant Thornton UK LLP. The acquisition is for an initial consideration of £0.25 million and additional contingent consideration of up to £0.25m, subject to

Duncan Raggett, insolvency practitioner and head of the restructuring and recovery team at Anderson Anderson & Brown (AAB) discusses the issues and options firms should be considering in preparation for life after lockdown. The impact of COVID-19 on the economy is likely to be long-lasting.

Nationwide has said that a borrower's credit rating should be affected if they take a further mortgage holiday.

Nationwide has seen its profits plummet by 40% after taking a £101 million hit from the coronavirus pandemic. The lender, which is Britain's largest building society, said its underlying profit before tax plunged from £788m in 2019 to £469m this year on underlying income of ju

The Scottish arm of insolvency and restructuring trade body R3 has issued an eight-point checklist to help owner/managers across the region deal with the impact of the coronavirus pandemic on their businesses. The organisation’s members, who include insolvency practitioners, lawyers, and

One in five Royal Bank of Scotland mortgage customers is receiving a three-month payment holiday.

The Financial Conduct Authority (FCA) has launched a consultation on additional guidance for payments firms to strengthen the way in which they look after customers’ money. The payments sector is a priority area for the FCA and the consultation follows ongoing work to ensure payments firms are

Glasgow-based construction firm PVP Developments has secured a £750,000 CBILS loan from Bank of Scotland.  The firm, which is currently delivering a £10 million luxury apartment scheme in Yorkhill, Glasgow, is planning to re-open sites in the coming weeks after securing a £750

Shellfish growers and trout producers will receive a share of £800,000 of Scottish Government funding to help make improvements to their businesses to mitigate the impact of the global coronavirus pandemic. The grants from the European Maritime Fisheries Fund (EMFF) to 11 aquaculture businesse

Global dividends are expected to fall by as much as 35% this year, according to the latest Global Dividend Index from Janus Henderson.