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Supermarkets slammed over late supplier payments

Supermarkets are being accused of "abusing their powers" and threatening the closure of small businesses by offering them bank loans instead of payment of invoices. Chains including Marks & Spencer have introduced schemes that delay payments to SMEs that supply

ECONOMY ROUND-UP – WHAT’S UP, WHAT’S DOWN

FLS LENDING DOWN Figures released by the Bank of England show net lending under the Funding for Lending Scheme (FLS) slumped by £810 million in the final quarter of last year. This followed falls in the previous three quarters and took

LATE PAYMENTS ARE FORCING DIRECTORS TO TAKE SALARY CUTS

A new report has revealed that businesses are being paid at least one month later than agreed, and company directors are taking salary cuts to mitigate the impact. One in five directors has been forced to take a salary cut to

THE WEEK COMPLETED, 13TH FEBRUARY 2015

The tedium of a couple of weeks ago is but a distant memory as this week replicated last in being busy with some new enquiries. Talking with many invoice finance companies this week suggests there has been a real pick

Currency Markets Ignore Cameron’s Call for Wage Increases

"Basing wage increases on temporary market movements seems to be at odds with the long term economic plan." - Katja Hall, CBI Deputy Director-General. The rate of wage growth remains central to the outlook for the pound sterling with the

Groceries Code Adjudicator to investigate Tesco

The Groceries Code Adjudicator (GCA) has announced that it is to investigate Tesco over possible breaches to the Groceries Supply Code of Practice, relating to practices associated with the retailer’s profit over-statement in September. Christine Tacon said she has discussed
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