The chair of the Treasury Select Committee has vowed to thoroughly investigate the "unacceptable" mis-selling of interest rate hedging products to SMEs, saying businesses must be confident that it can never happen again.
Four major high street banks have been found guilty of "serious failings" in the selling of complex interest rate hedging products to thousands of SMEs in the latest scandal to hit the financial sector.
New research shows many UK businesses are suffering higher than inflation increases in their core business costs. The research, carried out by Royal Bank of Scotland, has found over half of UK businesses have seen their fuel costs grow faster than the current five per cent CPI rate of inflation.
David Hughes sums up his entrepreneurial career to date thus: four spectacular successes and two failures. He founded the sports retailer Allsports and achieved turnover of £180 million before a vicious price war meant decline, administration in 2005 and a sell-off to rival JD Sports.