UK

Teresa Graham of Baker Tilley has produced her interim report and response to submissions on the Small Firms Loan Guarantee scheme.

Abbey National Plc has agreed to sell asset finance and leasing businesses to a unit of ING Groep NV, as it concentrates on consumer banking in Britain.

The UK government's Small Business Service (SBS) is not doing enough to help small businesses or the investors willing to fund them, according to Ernst & Young.

Dynamic Commercial Finance plc, the factoring and invoice discounting company founded in 2000, has reported a pre-tax profit of Ј206,000 for the year ended 31 December 2003. This contrasts with losses of Ј96,000 in 2002 and Ј663,000 in 2001.

Enterprise Finance Europe (EFE), one of the UK's leading asset-based lenders, has appointed one of the region's best-known corporate finance specialists to spearhead its expansion into the South West and Wales.

The small business sector is being urging to wake up, smell the coffee and get ready to take advantage of the huge opportunities that the recent expansion of the European Union (EU) will provide.

The interest rate for companies wishing to apply the late payment legislation will be 12.5% for the period 1 July to 31 December 2004. For the previous period (1 January to 30 June 2004) the rate was 11.75%.

Liverpool-based factoring and invoice discounting company Bibby Financial Services has signed a deal with Chester's GB Group to use its web-based authentication software as part of its drive to combat identity fraud and improve customer service.

UK corporate profitability has fallen for 18 consecutive quarters and is now barely one-third the level achieved in early 1999…