Lloyds Banking Group, the owner of Bank of Scotland, has posted a £602 million pre-tax loss for the first half of this year, as the bank set aside £2.4 billion for bad loans. António Horta-Osório, chief executive of Lloyds, said that the coronavirus pandemic had a "profound
Covid-19
The coronavirus pandemic means government spending has increased immensely, with the IMF calculating it to be a staggering $9 trillion. For ACCA, the World Bank and IFAC, the concern is that public sector fiscal commitment and interventions are not being captured accurately by governments
UK car manufacturing output has declined -42.8% in the first half of the year, marking the lowest decline in the industry since 1954.
A record 527,000 UK businesses were in significant financial distress at the end of June 2020 thanks to seven consecutive quarters of increased financial impairment, according to the latest Red Flag Alert research by Begbies Traynor.
This latest blog considers life from the perspective of SMEs and OMBs working to exit from lockdown. Much of the subject matter to date has focused on how to manage the massive uncertainties caused byCOVID-19. Hopefully, the duration and on-going impact of lockdown are beginning to clear as we move
In light of the difficult trading situation amid the COVID-19 pandemic, Dundee-based restructuring and insolvency specialists Dunedin Advisory details how business debt arrangement schemes can help firms through these times. Dunedin Advisory has said it may be necessary for firms to consid
Virgin Money, owner of Glasgow-based Clydesdale Bank, has allocated an extra £42 million to cover potential losses from an increase in bad loans as the bank braces for the economic fallout from the coronavirus crisis. The allocation of funds, revealed in the lender's third-quarter results, are
Retailers in Scotland lost almost £2 billion in sales during lockdown, according to the latest data from the Scottish Retail Consortium (SRC).
Barclays has taken a £1.6 billion hit from the coronavirus pandemic in the second quarter of this year. The lender posted pre-tax profits of £1.27 billion in the first half of the year, marking a decrease from the £3bn reported the year before.
Scotland’s GDP is confirmed to have fallen by 2.5% during the first quarter of 2020, according to statistics announced today by Scotland's chief statistician.
Cumbernauld-based drinks company AG Barr has posted a year-on-year drop in revenues as the coronavirus pandemic continues to wreak havoc on firms across the UK.
Despite business confidence rising by four points during July to -37%, the overall confidence of firms in Scotland remains low, according to the latest Business Barometer from Bank of Scotland Commercial Banking.
Nationwide is launching a fresh round of community grants to help people stay in their homes through local charities and partnerships as the bank's latest quarterly poll reveals a 14% drop in financial security. With the government’s furlough scheme coming to an end on 31 October 202
Challenger lender Starling Bank has provided £31 million of Coronavirus Business Interruption Loan Scheme (CBILS) funding to Scottish businesses throughout the coronavirus lockdown. A geographic breakdown of the bank's funding figures have revealed that £31.3 million of finance from
Pensioners have resisted the temptation to access their pension pots during lockdown, according to new data from the Association of British Insurers (ABI).