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UK banks face stress tests on impact of energy crisis defaults

TheGuardian

Exclusive: Move is part of Bank of England’s delayed health check of financial industry The UK’s largest banks will be tested on their ability to withstand a rise in defaults linked to sky-high energy prices, as part of the Bank of England’s delayed health check of the financial industry. Continue reading.

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4 Boosted Business Outcomes for Utilities Fueled by Oracle Cloud

Perficient

The Utilities industry is facing enormous change along with the rest of the world due to Covid-19 and its effects on commercial and residential consumption of energy. The industry has had to learn quickly to juggle demand and workforce planning. Using Oracle Data & Analytics to Manage Business Decisions .

Analytics 340
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How Diversified Revenue Streams Impact Ag Borrowers

Abrigo

Takeaway 1 To make their land more profitable, farmers are taking advantage of renewable energy resources. Takeaway 2 In addition to renewable energy, conservation revenue and other revenue sources are also available. Here are five considerations for landowners and lenders in reviewing renewable energy contracts.

Lending 195
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UK Faces $30B In COVID Loan Losses

PYMNTS

government now estimates its losses from the pandemic could hit 23 billion pounds (about $30 billion), Bloomberg reported, coming from loans used to help businesses affected by the crisis. Both estimates come from loss ranges based on history, from similar prior programs, combining credit and fraud losses. That comes with U.K.

Taxes 247
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Study: Manual AR Processes Slow Payments Collection By As Much As 67 Percent

PYMNTS

This is the key takeaway from a study of 2,203 small to large businesses representing a variety of sectors. This shift is particularly apparent among businesses in technology, healthcare and construction industries. Firms from different industries are impacted by manual AR processes to varying degrees, however.

Study 277
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Sustainability Impact in Financial Services: Improvements to Four Areas

Cisco

At no other time in humankind’s history has every government, business, and citizen in the world held the collective responsibility to act with determination to ensure the sustainability of our planet. The pandemic has forced institutions to rethink the delivery of financial services and the nature of work. Decarbonization and sustainability.

Community 109
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Taxpayers left with £421m bill after one in 12 firms default on Covid loans

TheGuardian

About 8% of borrowers – 130,000 firms – have so far failed to repay government-backed emergency loans Taxpayers have been left to foot a £421m bill to cover soured Covid debts, after one in 12 businesses defaulted on state-backed emergency loans distributed at the height of the pandemic, official figures reveal.