Mark Stokes, formerly Managing Director – Commercial Banking at Metro Bank, has joined United Trust Bank in the newly created role of Chief Commercial Officer. Mark has over 20 years’ experience at executive committee level working with several established and challenger banks including Metro Bank, Lloyds Bank, RBS, Black Horse, and Chartered Trust. Under his leadership, Metro Bank’s commercial business balance sheet grew from £1.2bn to £3.5bn in the four years
FTA strongly welcomes Transport for London’s (TfL) decision to increase its financial support for businesses needing to replace their current vans and HGVs with newer, cleaner models in preparation for the tightening of the Low Emission Zone (LEZ) standards later this year. The business group believes this funding is vital for the Mayor of London to achieve his clean air ambition without placing a heavy financial burden on the shoulders
Deutsche Bank has released a comprehensive new publication, “Payables finance: A guide to working capital optimisation, 2nd edition”, revising and updating the original paper released almost two years ago at the beginning of 2018. The paper continues the ongoing work of defining and codifying the payables finance industry as it evolves, shifting priorities and practices in the process. Headline updates include an examination of how businesses are looking to payables
Export competition encourages UK SMEs to plan ahead, whatever happens with Brexit.This autumn Brexit will again dominate the minds of businesses and traders, but the UK’s SMEs should continue to plan ahead and look to export as a way of mitigating risk and increasing global sales. The government’s ‘Export Strategy’ aims to grow exports as a percentage of GDP from 30% to 35% and encouraging SMEs to look at global
TT Club and BSI have issued the second edition of their report on global cargo theft, the first to cover a full year. Highlighted findings include: theft from road vehicles once more accounts for the highest proportion at 84%; Slash and Grab the largest type of cargo theft at 26% globally but with significant regional variations; the combination of food, beverage, alcohol and tobacco making up the most common commodity
Having a remote workforce is now commonplace thanks to technological advancements and modern work practices. Yet those who work overseas for a period as contractors or employees are facing losses in earnings due to poor foreign exchange (FX) management. A leading FX firm is calling on businesses and individual employees themselves to do more to curb such losses and subsequently overcome what is currently an insufficient overseas salary payment process.
Secretary of State for International Trade Dr Liam Fox will announce major steps that will unlock finance for SMEs exporting to emerging markets. These will include… The Small Deal Initiative – to back the army of exporters undertaking the smaller contracts that underpin British trade Extending financial support to firms in exporters’ supply chains as well as exporters themselves The General Export Facility – covers general costs for exporters, rather than just
VTB Capital has secured top spots in DCM, ECM, and M&A categories in Dealogic rankings for 2017, following a year marked by a range of transactions across all IB business lines in Russia and internationally. In the DCM segment, VTB Capital has maintained its clear leading positions as a bookrunner on local and international bond issues. The investment bank ranked as the top Russia International DCM bookrunner with a 25%
More than two-thirds of UK SMEs trading in foreign currencies say that they have been financially disadvantaged due to currency volatility sparked by the EU referendum, according to a new study by leading SME partner, Bibby Financial Services (BFS). Findings of the ‘SMEs and International Trade’ report reveal that 67 per cent of businesses with foreign exchange requirements say they have been adversely affected by currency volatility in the past
Businesses should prepare for currency swings ahead of Germany’s election is the message from of Godi Financial – formerly OSTC FX. Germany’s Federal Elections will take place on Sunday 24 September 2017 and despite polls suggesting the current Chancellor of Germany, Angela Merkel, will continue to lead the country, markets are nonetheless likely to react to the event, which could catch many businesses off guard, due to potentially significant currency swings.