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UK firms stay loyal to banks and their finance

More than six in ten UK businesses have stuck with the same bank over the last five years, according to a poll by the Institute of Directors (IoD). The survey shows that 44 per cent have been with their bank...

#bank#small business#smes

Directors and auditors may get protection against legal claims

The British government is close to proposing measures to give directors and auditors protection against potentially catastrophic legal claims. Patricia…

#Bill#Jobs#trade


Banco Espirito Santo sues over US$170 million factoring fraud

Banco Espirito Santo International Ltd (BES) sued accounting firm BDO Seidman on Tuesday, alleging it "rubber-stamped ... obviously false financial…

#bank#factoring fraud#international


Commercial finance giant re-jigs asset finance ops in Europe

GMAC Commercial Finance (GMAC CF) has restructured its senior management team in Europe. Phil Lammas has been promoted to UK…

#commercial finance#invoice#management


CBI survey shows first increase in orders for smaller...

Smaller manufacturers have seen orders rise for the first time in over three years, with confidence climbing at the fastest…

#exporters#innovation#Jobs


Boeing Capital proves its worth – FT comment

Compared with the glamour and engineering dexterity on display in a tour round one of Boeing's aircraft factories in Seattle,…

#banks#commercial finance#financial services


Merrill Lynch vows to grow SME loan provision

Merrill Lynch, the largest US securities firm in terms of number of stockbrokers, is hiring salespeople to make loans to…

#commercial finance#conference#economy


Australia’s small businesses feel the heat

Unfair practices by big business, an increasingly difficult regulatory environment, and an exodus of retiring small-business owners are some of…

#banks#innovation#small business


New Atradius CEO announced

Wilfried Verstraete, has been appointed as the new CEO and Chairman of the Management Board of Atradius, a leader in…

#Atradius#international#management


Cancer 'lies' of Versailles fraud chief

Fred Clough, the disgraced finance director of collapsed trade finance house Versailles, lied to his board that he had cancer…

#banks#Goldman Sachs#trade


Senior finance executive – just the job for fraud

Wanted. Male, 36-45, finance experience, senior executive level. That, according to analysis by forensic accountants at KPMG, is not so…

#frauds#Goldman Sachs#Two


MFB records HUF6.14bn net income in 2003 – new...

State-owned Hungarian Development Bank (MFB) recorded a net income of HUF6.14 bn (US$27.4 m) in 2003, according to the company's…

#bank#funding#interest rate

Versailles case nears its close

Carl Cushnie made millions by defrauding investors in trade finance firm Versailles, it was claimed yesterday, as the case surrounding…

#MAN#trade#WHO

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