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Thursday, April 24, 2014
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Barclays announces radical shake up with instant business loans

24/10/2013 11:05 (181 Day 09:46 minutes ago)

The FINANCIAL -- Barclays has become the first bank to take the unique step forward in actively supporting its business customers by ‘pre-approving’ overdraft facilities and loans which help them to make business decisions in the knowledge that funding is available if they need it, according to Barclays.



From the middle of October qualifying customers who call Barclays about new lending will be given instant approval. Customers relationship managers will be able to offer the service from November, according to Barclays.

From early next year most business customers who use online banking will be able to see how much they’ve been pre-approved to borrow and get a decision within minutes.

The new service is designed to help businesses manage cash-flow issues which are largely recognised as one of the primary reasons behind the collapse of small businesses in the UK.

“We know that cash-flow can be a big problem for growing businesses and one of the biggest headaches is winning a big pitch or order, but having no certainty on whether you can finance that growth,"
Ashok Vaswani, Chief Executive of Barclays Business Banking said. “With this new initiative our business customers will know that at the moment they need to borrow, the investment is there to support them. We recognise that not every small business wants debt or to increase the existing facilities. We want to lend the right type of finance, whether that’s an extended overdraft, long term finance, or looking at wider forms of equity funding. Overall we think instant lending can deliver a huge shot in the arm for SME’s across the country and for our economy too,” Vaswani added.



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“The former Yugoslav Republic of Macedonia”: presidential election and early parliamentary elections

23/04/2014 16:38 (04:13 minutes ago)

The FINANCIAL -- A 14-member delegation of the Parliamentary Assembly of the Council of Europe (PACE), led by Stefan Schennach (Austria, SOC), will travel to “the former Yugoslav Republic of Macedonia” from 25 to 28 April to observe the conduct of the presidential election (2nd round) and the early parliamentary elections, alongside observers from the OSCE’s Parliamentary Assembly and Office for Democratic Institutions and Human Rights (ODIHR), according to PACE.



Zurich identifies seven cyber risks that threaten systemic shock

23/04/2014 17:00 (03:51 minutes ago)

The FINANCIAL -- The recently published Zurich Cyber Risk Report, created in collaboration with the international think tank Atlantic Council, argues that cyber-risk management professionals need to look beyond their internal information technology safeguards to interconnected risks which can build up relating to counterparties, outsourced suppliers, supply chains, disruptive technologies, upstream infrastructure and external shocks, according to Zurich Insurance Company.


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