Business news 15 August 2022
James Salmon, Operations Director.
Bank Of England
The Bank of England is reviewing its mandate after Liz Truss was critical of its approach.
China
Industrial production rose by only 3.8% surprising analysts who had expected 4.3% and retail sales were also below par, increasing by only 2.7%. In response they unexpectedly reduced the medium term lending rate to 2.75%.
Saudi Aramco
The Saudi oil giant broke records with a $48.4 quarterly profit, a 90% year on year increase.
Russia
Russia has re-opened its Moscow based bond market setting up a new platform open to investors from countries that haven’t imposed sanctions.
House Prices
House Prices fell in August for the first time this year, according to Rightmove’s latest house price index, but the move could be seasonal rather than reflective of a broader slowdown. UK house prices fell 1.3% month-on-month in August to stand at an average asking price of £365,173, reversing July’s 0.4% rise.
European recession
Bloomberg economists put the risk of a euro-area recession is the highest since November 2020 as energy shortages threaten to drive already record inflation higher still with probability rising from 45% to 60% (it was only 20% before Russia’s invasion of Ukraine).
Why should you become a CPA member!
The Credit Protection Association (CPA) has been assisting thousands of UK businesses to get paid since 1914. We have seen many financial crises, this one will be particularly deadly for suppliers for some time to come.
CPA eases cash from tardy debtors – Efficiently, Effectively, Economically and Ethically. And we provide credit information so you can monitor and assess your key customers.
Unlike other credit management companies, we charge our members a fixed annual subscription irrespective of how high the debt value is!
It takes less than 17 minutes to see how you would benefit, do you have the time now?
No face-to-face meeting required – just call Peter Uwins, CPA’s National Sales Manager, on 020 8846 0000 (business hours) or email nsm@cpa.co.uk today.
When you see your money come in, you will be so glad you used CPA.
The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections
Do you have a commercial late payer that is causing you grief? Use CPA’s no-win, no-fee, commercial debt recovery service!
If you have a particular business customer who is late paying and causing you sleepless nights, why not offer it to CPA for purchase on recourse?
CPA’s collection department will then pursue the debt. We will be liable for any costs incurred and then when we have recovered the debt, we will pay you the net principle debt recovered less our percentage.
Once you have enjoyed that success then you can consider the more cost effective membership which includes our Overdue Account Recovery service and Status/Credit reports as well as a range of other complimentary services.
Just call 020 8846 0000 and ask for Godfrey Nelson or Cris Shirley (business hours) or email debtpurchase@cpa.co.uk today.
The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections.
Get compensated for previous late payments
Have you been paid late by business customers in the last six years?
Maybe you no longer work with them. Under legislation, you are entitled to compensation you for those late payments you have suffered.
You put up with the PAIN – now claim the GAIN!
Claim late payment compensation (LPC) from former business customers who paid you late in the last six years!
CPA (LPC) Recoveries is using our bespoke software and decades of experience to do just that for our clients
The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections.