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"There is some anecdotal evidence that use of the euro is increasing a little," says Leslie Gunde, associate director at the professional services firm, KPMG. "But there is no question that the move has been much slower than might have been expected."
Yesterday, the Lloyds TSB Business in Britain survey found that 63 % of British exporters were still not invoicing in euros -a fall of only 6 percentage points from last year's survey.
11/09/2001
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Global Trade Finance Pvt Ltd, the factoring joint venture company of Exim Bank of India, WestLB (Westdeutsche Landesbank Girozentrale) of Germany and IFC, Washington, is expected to begin operations in the next ten days.
11/09/2001
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HBOS, the bank formed by the merger of Halifax and Bank of Scotland, is to recruit hundreds of staff in an attack on the small business banking market in England and Wales, currently dominated by the “Big Four” high street clearers.
The new bank, which makes its debut on the London stock market today, will put small business bankers in Halifax branches, backed up by call centres and processing operations north of the border, using the Scottish bank's expertise.
10/09/2001
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Managing Director, Ian Clark, discusses company performance and future plans
The Brentwood-based company Aston Rothbury Factors Limited has recorded turnover of Ј1,986,881 for the fifteen month period ended 31 March 2001, which compares with turnover of Ј1,300,890 for the year ended 31 December 1999.
Profits before tax were also greater for the fifteen month period ended 31 March 2001 than for the previous financial year, with figures of Ј218,300 and Ј160,997 respectively.
07/09/2001
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Silverburn Finance UK Ltd have released an abbreviated set of accounts for the year ended 31 January 2001. The results show that the company’s net current assets have risen from Ј1,188,211 in the year ended January 31 2000 to Ј1,475,438 in the year ended 31 January 2001. Silverburn has also recorded an increase of 6.93% in the amounts of current assets due from debtors on the previous year, climbing from Ј1,118,211 in the year ended 31 January 2000 to Ј1,475,438.
06/09/2001
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The Paris-based credit insurer and international financial services group, Euler, has recorded a dramatic acceleration of the amount of its total net income from its interest in factoring operation, Eurofactor. Whilst the contribution of credit insurance to net income slipped from 56.8m in the first six months of 2000 to 52.9m for the corresponding period this year, factoring, the group's other main activity, increased its contribution from 0.7m to 5.2m.
BCR Publishing
06/09/2001
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Research carried out by the Credit Management Research Centre (CMRC) has revealed that credit management techniques practiced by small businesses throughout the UK are improving.
05/09/2001
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More than one in three small business owners (35%) plan to expand their business in the next three months, more than ten times the proportion that expect to downsize, according to the latest research from Alliance & Leicester, the new force in business banking.
At a time when fluctuating levels of high street spending and unemployment from larger companies in the manufacturing sector have fuelled fears of an impending recession, the latest findings suggest that few small businesses are bracing themselves for a difficult autumn.
05/09/2001
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Small Business Minister Nigel Griffiths today gave the green light to Ј14.5 million in grants to 46 new projects which aim to support thousands of budding entrepreneurs in deprived areas.
The Phoenix Fund, run by the Small Business Service, supports organisations in England that are seeking to develop new and imaginative ways of helping people in disadvantaged communities set up and run successful enterprises.
05/09/2001
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04/09/2001
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Lloyds TSB Commercial Finance Ltd, has strengthened its research team by appointing Sophie Finch as its new market research executive.
Sophie's appointment closely follows that of Charles Parker, who joined the marketing team earlier in the year. The growth of the team reflects continued commitment to understanding changes within its market and the demands of clients.
03/09/2001
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UK manufacturing economy enters recession in August for the second time in three-and-a-half years.
03/09/2001
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Transfact, the factoring subsidiary of French rural bank Credit Agricole, has announced the launch of Immedians, an online financing service aimed at small businesses.
Immedians provides short-term finance for companies which have incurred trading debts with other companies. It charges 8 per cent commission on the sum supplied, plus fixed processing costs.
Source: Les Echos
03/09/2001
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LG Capital said yesterday that its name will be changed to LG Card Co. starting Sept. 1.
The company said the name change is designed to match the company name to its representative product name and thereby enhance customers' recognition of the company and maximize corporate value before listing on the Korea Stock Exchange.
31/08/2001
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Factoring system combines with risk analysis software
Leading factoring and financial software provider, Highams Business Solutions Limited, has formed an alliance with risk management software provider, RiskFactor Solutions Limited. Together, the companies will provide clients in the financial services industry worldwide with an integrated solution for their operating system and risk management needs.
30/08/2001
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