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Number of business failures grows

Latest figures published today by the Bank of England show that the number of businesses failures by liquidation or bankruptcy grew by almost 20% between 1997 and 2002.

And the trend continues with an 11% rise in the last three quarters of 2003 over the same three quarters of 2002. Some regions suffer badly.

In the East Midlands business failures are up 30% between 1997-2002 and growingby 8.7% first three quarters 2003.

In the West Midlands business failures are up 40% between 1997-2002 and growing by 7.9% first three quarters 2003.

In the North-West business failures were up 34% between 1997-2002 and growing by1.8% first three quarters 2003.

And in North-East business failures were up between 46% 1997-2002 and growing 13.8% first three quarters 2003.

Brian Cotter MP, Liberal Democrat small business spokesman, says: “Small business are the life-blood of the economy. Many towns and villages rely on them completely for services and jobs.

“With bankruptcies up by one-fifth under Gordon Brown, business needs a break from the red tape and tax hurdles that are crushing their drive.

“The giant Whitehall machine is simply not delivering for businesses especially in northern, eastern and Midland regions where bankruptcy and liquidation figures are dreadfully high and getting worse.”


Mortgage Times appoints head of marketing and corporate relations

Payam Azadi has joined London-based brokerage Mortgage Times. Azadi previously worked for Network Data for four and a half years, where he undertook various positions including marketing and design, media relations and public relations. His responsibilities at Mortgage Times will include advertising, promotions and further development of corporate relationships. Chris May, director of Mortgage Times, […]

FSA launches &#39Call to Action&#39 campaign

With 362 days to go until the FSA takes over responsibility for mortgage regulation the FSA has launched a &#39Call to Action&#39 campaign for mortgage intermediaries who wish to register for direct authorisation. The FSA has already put a variety of helpful publications aimed at intermediaries on its website. It has also opened a contact […]

Appointments at 1st Software

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UCB Home Loans to launch buy-to-let remortgage service

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Apple: a stellar technology story

By Ali Unwin, head of technology sector research

Apple recently announced the highest-ever recorded quarterly net profit ($18bn), with the sale of 74.4 million iPhones helping the company deliver $74.6bn of revenue for the quarter ending December 2014. These sales were largely driven by strong demand for the new iPhone 6 and iPhone 6 Plus. Highlights included Chinese iPhone sales doubling year-on-year and unit growth of 44% in the US — supposedly a well-penetrated market. Apple ended the quarter with $178bn in cash on its balance sheet, having generated a staggering $30bn in free cash flow during the quarter.

At Neptune, we have been long-term believers in the Apple story, and continue to hold the stock in a number of our portfolios based on the company’s long-term growth prospects. This is predicated on our belief that Apple has proved thus far that it can — unusually for a consumer electronics company — maintain high margins for a sustained period of time, even as adoption of new technology slows down and competitors produce similar-specification products.


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