Business news 20 February 2024
James Salmon, Operations Director.
Interest Rates
BoE governer Andrew Bailey said inflation does not need to fall to its 2% target before policymakers back an interest-rate cut.
Post Office
The Post Office halted independent investigations into how Fujitsu employees were tampering with Post Master cash accounts remotely when the Post masters began legal action, lied about it and David Cameron’s Government knew all about it and swept it under the carpet a BBC investigation has shown.
Barclays
Barclays are set to announce £2 billion in cost cuts as profits slump and they announce a loss of £111 million in the last quarter.
EU Apple fine
Apple is facing an EU fine close to €500 million over the regulator’s investigation into allegations that Apple silenced music-streaming rivals, including Spotify on its platforms. The EU watchdog found that Apple broke competition rules in thwarting rival music services from informing users that cheaper alternatives existed outside of the App Store.
Easyjet
EasyJet founder are thought to be exploring a secondary listing in the US in a bid to close the valuation gap to rival Ryanair. Founder Stelios Haji-Ioannou, who set up easyJet in 1994, argued to the Mail on Sunday that a listing on the US exchange would make sense for the airline.
European Automakers
European automakers, Volkswagen, Renault and Stellantis are reportedly looking at joint ventures with previous fierce competitors to fend off competition from Tesla and China in the Electric car market in the face of existential threat.
Severn Trent
Severn Trent has been fined more than £2 million for polluting the River Trent near Stoke. Huge amounts of raw sewage were discharged into the river from Strongford Wastewater Treatment Works near Stoke-on-Trent, Staffordshire, between November 2019 and February 2020. District Judge Kevin Grego ruled at Cannock Magistrates Court that there was a reckless failure by the company to have in place and implement a proper system of contingency planning.
China
China’s central bank cut the benchmark mortgage interest rate by a record amount, slashing the five-year loan prime rate from 4.2% to 3.95% n a bid to boost the flagging economy
Latest Insolvencies
Appointment of Liquidators – MAXIM IT CONSULTING LIMITED
Appointment of Liquidators – BARAK UK LIMITED
Appointment of Liquidators – KASM LTD
Petitions to wind up (Companies) – TRANSOMAS LIMITED
Appointment of Liquidators – HUNTER & ASSOCIATES LIMITED
Appointment of Liquidators – SALTMARSH CONSULTING LIMITED
Appointment of Liquidators – MR G DAWKINS UROLOGY LTD
Appointment of Liquidators – FL FULHAM DEVELOPMENTS (UK) LIMITED
Appointment of Liquidators – CHARLECOMBE CONSULTING LTD
Petitions to wind up (Companies) – TOM CALLAGHAN WINDOWS & CONSERVATORIES LIMITED
Appointment of Liquidators – JAYLEW HOLDINGS LIMITED
Appointment of Administrator – ISLAND STEEL (UK) LIMITED
Petitions to wind up (Companies) – RETAIL SPACE MANAGMENT (HOUNSLOW) LIMITED
Appointment of Liquidators – DOYLESTER SIXTY LIMITED
Appointment of Liquidators – MERIDIAN PROPERTY MANAGEMENT LLP
Petitions to wind up (Companies) – CHANGINGDAY LIMITED
Appointment of Administrator – MORECAMBE BAY WINES LIMITED
Appointment of Administrator – AQUADART BATHROOMS LIMITED
Petitions to wind up (Companies) – PRIDEGREEN LIMITED
Appointment of Liquidators – JONTY’S BROADCAST SOLUTIONS LIMITED
Appointment of Liquidators – BRUNEL HOUSE (FARINGDON) LIMITED
Appointment of Administrator – NEW FOREST SPRING WATER LIMITED
Appointment of Liquidators – RICHARD PEARCE CONSULTING LTD
Appointment of Administrator – D.N.T. COMPANY LIMITED
Appointment of Liquidators – HENLEY RENOVATIONS LIMITED
Appointment of Administrator – THIS IS THE TREE LTD
Appointment of Liquidators – JOANNA HALPIN LTD
Appointment of Administrator – CHICHESTER STONEWORKS (2022) LIMITED
Appointment of Liquidators – PROTECHNIX LIMITED
Appointment of Liquidators – ROCHEL SYSTEMS CONSULTANCY LTD
Appointment of Administrator – ROSEHILL FURNISHINGS LTD
Petitions to wind up (Companies) – 2 INNOVATIVE (LEIC) LTD
Appointment of Liquidators – TELFORD MANN INVESTMENT MANAGEMENT LIMITED
Petitions to wind up (Companies) – FENIKS RESOURCE SERVICES LIMITED
Petitions to wind up (Companies) – EVERSFIELD ORGANIC LIMITED
Appointment of Liquidators – WILLIAM JENKIN ASSOCIATES LIMITED
Appointment of Liquidators – BELUGA HOMES (HAZEL GROVE) LTD
Appointment of Liquidators – AVONWOOD FINANCIAL PLANNING LIMITED
Appointment of Liquidators – VALLEY MARKETING LTD
Appointment of Liquidators – GEORGE AMIN YOUSSEF CO LTD
Appointment of Administrator – THE SOURCE (HASTINGS) LIMITED
Appointment of Liquidators – K’S GRILLHOUSE LIMITED
Petitions to wind up (Companies) – EMPLOYER ADMIN SERVICES LTD
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.
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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
Check our compensation calculator to see how much your business could be owed!
Discover NOW the potential value of late payment compensation hidden in your sales ledger!
The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections.