All articles by Mike Cobb
Mike Cobb
IASB considers changes to lease accounting proposals
After almost universal opposition in Europe to the proposed changes to the lease accounting rules, the International Accounting Standards Board (IASB) and US Financial Accounting Standards Board (FASB) have made moves to ease the requirement for companies to put leases on their balance sheets, according to a report from Reuters.
CIT returns to full year profit
US-headquartered lessor CIT Vendor Finance, part of CIT Group, has posted fourth quarter pre-tax profits of $5m (3.67m), marking a substantial rise in the end-of-year profits of the leasing business, despite a substantial drop in the quarterly results of the company.
Slow December limits US leasing growth to 3%
The US equipment finance industry recorded just 3% growth year-on-year for 2013, after a disappointing December new business volumes, according to data released by the Equipment Leasing and Finance Association (ELFA).
Close Brothers forms leasing and rental business
UK commercial banking group Close Brothers has formed a new leasing and rentals division by amalgamating three business divisions which operated under the Close Brothers Asset Finance banner.
Leaseurope study finds almost no support for lease accounting changes
There is almost universal opposition in Europe to the proposed changes to the lease accounting rules, according to a Leaseurope study which analysed the opinions of four stakeholder groups affected by the changes.
Subscribe to our Newsletter
Get industry leading news, data and analysis delivered to your inbox
Arval and Renault partnership to end
A four-year partnership between Arval, the fleet arm of BNP Paribas Leasing Solutions, and RCI Financial Services, the UK finance division of Renault-Nissan, has come to an end with the manufacturer alliance bring its contract hire business in-house
Fleet Friday: Ex fleet now more expensive and Mazda sales jump
Fleet Friday this week has a rise in ex-fleet values, an addition to a 44-strong haulage fleet, the appointment of an industry veteran and a huge rise in Mazda’s fleet sales.
Bibby continues hiring streak with 5 recruits
Bibby Financial Services has continued its hiring push with the recruitment of five in the New Year on top of those the finance firm hired in December 2013
UK asset finance volumes fall slightly in November
The asset finance market in the UK saw a 1% year-on-year drop in volume in the 12 months to November 2013, dragged down by a fall in the aircraft and business equipment leasing sectors, according to data released by the Finance and Leasing Association.
Aldermore appoints three to senior roles
Just over two months after the departure of the head of the material handling asset finance team, UK bank Aldermore has hired Emma Irving as a replacement and announced the appointment of two others to senior positions in the business.