All articles by Jonathan Minter
Jonathan Minter
Jonathan is the editor of Motor Finance magazine. You can reach him at jonathan.minter@verdict.co.uk
Element Financial agrees terms to acquire PHH
Canadian equipment finance company Element Financial Corporation has entered into a definitive agreement to acquire the assets and operations of PHH Arval, the fleet management subsidiary of US company PHH Corporation.
Overdraft reduction a hidden credit crunch: LDF
UK Commercial finance group LDF has described a 23% fall in the value of overdrafts drawn by SMEs from £18.2bn for the twelve months to March 2012 to £14.1bn for the 12 months to March 2014 as a hidden credit crunch.
SMEs still troubled by funding: Close Brothers
42% of businesses admit they could have better knowledge of alternative funding sources to bank lending according to the Close Brothers Business Barometer.
Element to buy PHH Arval
Canadian equipment finance company Element Financial Corp is finalising a deal to buy US based PHH Corps auto fleet leasing business, PHH Arval, for approximately $1.4bn (1.0bn) after the boards of both companies approved the deal, Reuters is reporting.
Commercial vehicle registrations up in April: ACEA
Total EU commercial vehicle registrations grew 5.1% year-on-year in April, reaching 151, 571 units, according to the European Automobile Manufacturers Association (ACEA)
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Hitachi launches FCA compliance service
Hitachi Capital Business Finance has launched a free service to help brokers meet new UK Financial Conduct Authority (FCA) requirements without causing a strain on their businesses.
Investec posts healthy growth
Investecs results for the year ending 31 March 2014 revealed the groups operating profits increased 28% to R7,328m (517m), with UK operating profits increasing 24.4%.
Fall in leasing complaints but PPI scandal continues
The UK Financial Ombudsman Service (FOS) resolved a record 518,778 disputes over the twelve months to 31 March 2014 according to its annual review, with payment protection insurance (PPI) claims continuing to make the majority of the claims.
US equipment finance confidence at two year high
Confidence in the US equipment finance market stood at 65.4 in the Equipment Leasing & Finance Foundations Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI).
FLA appoints Lombard COO as chairman
The UK Finance and Leasing Association (FLA) has appointed Nigel Clibbens, chief operating officer at Lombard, as its chairman.