All articles by Jason T
Jason T
Syscap: UK schools making more use of sale and leaseback
New research from independent IT financier Syscap shows that UK schools are increasingly turning to sale and leasebacks for raising capital. According to Syscap, sale and leaseback is one of the fastest growing areas of financing for schools, enabling them to use the released cash to acquire further equipment or for more general expenditure. Schools sit on an extremely valuable set of assets but they find it very hard to use those assets to deal with temporary problems with their cash flow or to make one-off capital investment requirements, said Philip White, CEO of Syscap.
Lombard finances £0.5 million Heidelberg press
The asset finance deal, worth over £500,000 (590,600), was financed through the NatWest and RBS SME Regional Fund, which is making £250 million of funding available to SMEs in Wales in 2009. Im delighted with the new press and this acquisition was crucial to our service delivery and medium-term strategy for the business, said Ian Fitzerald, a director at the company, which namely prints Cardiff Citys match-day programmes.
UK finance broker admits £25 million leasing fraud in court
Finance broker Paul Cope pleaded guilty, along with another Staffordshire businessman, Brian Challiner, to a four and a half year swindle.
Sharp income hike at CIT in 2007
It has been another successful year for JCB Finance Limited, which reported a pre-tax profit of more than £5.1 million (5.7 million) in the year ending 30 September 2008, according to figures just released
Energy provider e.on invests £150m in public sector street lights
A consortium led by energy provider e.on has won a £150 million (172 million) contract for an energy efficient street lighting scheme. The Community Lighting Partnership, a consortium made up of e.on, consulting engineers Pell Frischmann and property partnership company Trillium, has been selected for the 25-year PFI contract. Were committed to changing the way people view and use energy, and are working hard to continue to reduce the carbon footprint of homes and buildings across the UK, said Richard Scott, e.ons head of marketing for sustainable energy solutions.
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Financial services industry is retreating from risk – Economist Intelligence Unit
New findings from the Economist Intelligence Unit (EIU) show that only one-third of risk professionals in the financial services industry believe that the outlook is positive for their business in terms of revenue growth and profitability leading to a dramatic impact on what business financial institutions are willing to carry out. The EIU added that less than half of risk professionals in the financial services industry said they believed that the principles of risk management remained sound, following the global financial crisis. In a report entitled After the Storm: A new era for risk management in financial services, the EIU revealed that 53 percent of senior risk professionals say they have conducted, or plan to conduct, a major overhaul of their risk management in response to the crisis.
60% of UK SMEs carry poor credit rating, says Graydon UK
Nearly two thirds of UK small firms are carrying a credit rating which may negatively affect their ability to obtain finance, according to new research from credit risk management agency Graydon UK. Using its credit scoring rules, Graydon UK calculated that 60 percent of the three million SME businesses analysed were assessed as being high risk or above normal risk, in terms of defaulting on trade payments or getting into financial difficulties.
Michael Jackson doctor being sued by lessors including Siemens FS
Conrad Murray, Michael Jacksons controversial doctor, has been the subject of several lawsuits involving leasing companies, it has emerged. Murray and his company, Global Cardiovascular Associates, based in Nevada, have faced an array of lawsuits in the past three years for unpaid bills and business obligations. One such lawsuit, from Siemens Financial Services case number 08A559118, Siemens Financial Services Inc
French lessors rise above the storm
Including vehicles, French banks and lessors financed 27.2 billion of assets in 2008, compared with 26.3 billion in 2007 an increase of 3.4 percent year-on-year
PE group AnaCap raises ?575m to invest in European financial services
Private equity group AnaCap Financial Partners, who last month acquired Ruffler Bank, is set to announce that it has raised 575 million for a new fund, according to press reports.