Carillion Construction, the second biggest construction firm in the UK has entered liquidation after the government failed to reach a deal to save them. The company had been struggling for some time after losing money on big contracts and running up large debts.
The UK manufacturing output is at its highest rate for over 10 years, showing a seventh consecutive month of growth in November last year. It is expected that renewable energy projects, aerospace and car exports helped to make the output 3.9% higher in the three months to November 2017. Official[...]
At the end of 2017, the Association of British Insurers (ABI) released a report highlighting that £574,000 was paid out every day to UK companies with credit insurance policies by the credit insurers.
The second-biggest construction firm in the UK, Carillion is under investigation by the Financial Conduct Authority (FCA). The FCA is currently looking into the ‘timeliness and content’ following the contractors official announcements from December 2016 to July 2017. During this period, the[...]
The International Monetary Fund (IMF) has recently cut its previous UK economic growth forecast from 1.7% to 1.6%. Christine Lagarde, IMF chief commented that the uncertainty of the Brexit deal was causing the decrease with many UK firms delaying investment plans.It’s thought that the rising[...]
Administrators managed to save 78 jobs at a family run manufacturing firm in the Black Country, just 24 days before Christmas. Administrators from the Restructuring Services division of Mazars, saved the employees at the H. & E. Knowles company which has been run by five generations of a local[...]
The Office for National Statistics recently released the profitability of UK companies statistics for April to June 2017. The profitability is measured as net rate of return and is calculated as the economic gain, shown as a percentage of the capital used in production.Released in November, the[...]
A new report released by the Association of British Insurers (ABI) has revealed that £574,000 was paid out by trade credit insurers’ everyday throughout 2016. The report, which has published some key facts about the UK insurance sector, found that it contributes £35bn to the UK economy and that the[...]
Monarch Airlines was the biggest ever UK airline to cease trading, after they entered administration this October. The airline appointed KPMG as administrators and a creditor report has today revealed that the business owed over £450m to unsecured creditors. The new documents revealed that the[...]
The Autumn Budget released yesterday was a mixed bag of business and personal changes, purportedly set to ease pressure in the economy and of course help smooth the Brexit transition. The key statistic of interest to businesses however are the growth forecasts, which were revised down from 2% to[...]
