Keep up to date with the latest insurance and business news in our weekly round-up…

 

UK consumer lending growth slows to weakest since Nov 2015 – Bank of England

British consumers borrowed at the weakest pace in nearly three years last month, Bank of England data showed on Thursday.

Wonga collapses into administration

The payday loan lender fell into administration on Thursday evening, leaving approximately 200,000 customers still in debt to the tune of over £400m in short-term loans.

Aston Martin drives ‘milestone’ £5bn float as profits accelerate

The luxury car manufacturer says it is gearing up for a “key milestone” in its history through a stock market listing. Aston Martin sees the floatation helping to fund its expansion plans, which include the opening of a new manufacturing plant in Wales in 2019.

Panasonic to move European HQ in London to Netherlands over Brexit concerns

The decision was sparked by fears that Japan could treat Britain as a tax haven after Brexit if London decides to lower its corporate tax rate, meaning that Panasonic could face back taxes levied by Tokyo.

Lloyd’s of London makes quiet entrance into crypto insurance market

Kingdom Trust, a qualified custodian of many cryptocurrencies, is enhancing its safe-keeping services with insurance cover for theft and loss.