News

Elevate Credit International Limited (ECIL), a payday lender which sold loans under the Sunny brand, has gone into administration in the UK with Ed Boyle and David Pike of KPMG appointed as administrators of the firm. The lender has blamed its financial difficulties on the coronavirus pandemic, as w

The Scottish Parliament’s Economy, Energy and Fair Work Committee has announced its unanimous support for the general principles of the ‘Protection of Workers Bill’ which seeks to increase protection for retail workers.

The UK economy has suffered the joint biggest drop since the July-to-September period in 1979, as GDP contracted by 2.2% in the first quarter of 2020.

New research by the Financial Conduct Authority (FCA) has found that 2.6 million people in the UK have purchased cryptoassets at some point, marking a 1.1 million increase in buyers since last year.

The prime minister of Bulgaria, Boïko Borissov, has been fined for entering a church without a mask.

Giles Wilson, chief executive officer of global aviation services firm John Menzies PLC, has announced that he will leave the group to take up the position of chief financial officer with William Grant & Sons.

Members of Johnston Carmichael's restructuring team have published a commentary on the introduction of the Corporate Insolvency and Governance Act 2020, which came into force on June 26 bringing new measures to provide extra support to businesses in financial difficulty due to COVID-19. The int

Hawick-based Chrysties Furnishing Centre as reopened in the month of its 30th birthday following a £200,000 Coronavirus funding package from Royal Bank of Scotland. Chrysties has been a much-loved family firm in Hawick for the past three decades. The coronavirus lockdown measures forced the fa

The Financial Times has reported that EY partners have been briefed on the upcoming legal action filed against them concerning its audit of German payments company Wirecard. More than 1,000 Wirecard shareholders have joined the legal proceedings seeking up to £910 mill

Estate agents across Scotland are forecasting a record month for sales in July, eclipsing the 10,352 properties sold in July 2018. The Bank of Scotland has said it has seen a 75% rise in online mortgage applications in the last week alone, and a 470% spike in people seeking a lending appointment.

Lloyds Bank has announced plans to move further into wealth management and insurance services in its next strategy update.

New Wave Foods, trading as Shore the Scottish Seaweed company, has grown its product range on the back of a £1.7 million finance package. Alness-based Shore uses sustainably harvested Scottish seaweed to manufacture plant-based snacks and foods. It launched its first range of snacks in late 20

Barclays has slashed rates for affluent borrowers as mortgage customers with a sizeable deposit can now fix their mortgage for ten years at less than 2%. 

Yorkshire Building Society has restarted its 90% mortgages for first-time buyers as it slashes its interest rates. Earlier this month, the bank suspended 90% mortgages after an unprecedented level of demand from prospective buyers. Yorkshire Building Society said these deals would only be available

Lothian based eco-friendly toy company, Yummikeys has reported a 291% increase in YTD trade figures with monthly sales tripling since the lockdown measures were introduced in March.