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Showing posts with the label Scotland.

News | Business | Scotland: Covid: Finance firm refusing car loans to hospitality sector

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 By Angie Brown 2-3 minutes - Source: BBC image captionTom Ponton, who has a fleet of cars for his businesses said it was another blow to the hospitality sector A finance company has told car dealers it will refuse to give loans to people working in the hospitality sector, BBC Scotland has learned. Hitachi Capital Vehicle Solutions sent a letter to brokers and dealers across the UK saying it would not now lend to people working in the industry. The company said it wanted to prevent customers being declined loans, which could affect their credit rating. But one publican said the sector was being "discriminated against". Hitachi Capital Vehicle Solutions is one of the UK's largest vehicle finance companies. A spokesman said it had decided to "openly communicate a temporary change to our credit criteria" with its brokers and dealers. "This decision was made in order to protect individuals in this sector from being potentially decl

News | Business | Scotland: Business confidence at historic low, says survey

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4minutos Image copyright PA Media Business confidence in many areas of the economy is at a record low, a new survey has indicated. The Scottish Chambers of Commerce (SCC) survey suggests retail and construction have been among the worst hit sectors during the Covid-19 crisis. But 95% of tourism firms also reported a fall in business confidence. The SCC said the UK and Scottish governments need to accelerate investment plans in order to prevent a "tsunami of jobs" being lost. The survey, conducted between April and June, found cash flow has sunk to a record low in many industries, with a high number of companies applying for credit to see themselves through lockdown. Tim Allan, president of the SCC, said: "In many instances, these results are among the worst ov