Credit card defaults have risen in the three months ending in August, according to a recent survey by the Bank of England of lending institutions. The survey also projects that defaults on credit cards are likely to continue increasing through the end of November. In contrast, mortgage default rates saw a slight decrease during the same period to August and are expected to remain steady in the coming three months.

Adam Butler, representing the debt relief charity StepChange, attributed the rise in unsecured credit defaults to ongoing financial pressures. He noted that many individuals are struggling to keep up with regular credit repayments while managing everyday household bills amid the cost of living challenges.

Separately, concerns about later-life care remain high among affluent households, yet planning remains limited. A survey conducted by wealth manager Rathbones involving 2,036 adults with investable assets of at least £250,000 found that 40% of respondents expressed worries about funding care in old age, but only 12% have actively made provisions for it. Nearly half—45%—admitted they had not incorporated care costs into their retirement planning at all. Stephen Field of Rathbones warned that while people are living longer, their health may not necessarily improve, meaning that funds earmarked for lifestyle goals such as travel or family support could instead be redirected to cover care expenses without proper planning.

In regulatory developments, Deloitte has been fined over £6 million by the Financial Reporting Council (FRC) following a review of its auditing work for bus operator Go-Ahead. The FRC cited a “highly concerning pattern of failure” across audits conducted over five years. Go-Ahead’s involvement in the Govia joint venture with French firm Keolis drew government scrutiny after the Southeastern rail franchise was revoked three years ago due to a serious breach of trust. A Deloitte UK spokesperson expressed regret that some aspects of their audit work did not meet required standards.

On a more positive note in the corporate sector, Prosus—the global technology investor majority-owned by South Africa’s Naspers—reported a return to order growth for Just Eat Takeaway.com, marking the first such rise in nearly five years. Worldwide orders increased by 0.1% year-on-year in September, reversing a previous 9% decline when Prosus acquired the company in December for £3.6 billion. Fabrizio Bloisi, chief executive of Prosus, described the return to growth as a significant milestone attributable to the efforts of the company’s team.