Business News Articles

Royal Mail managers to vote on strike
Business owners have been advised that thousands of Royal Mail managers are to balloted over possible strike action in a dispute over job cuts. About 8,500 managers at Royal Mail head offices across the UK, and those at subsidiary businesses Parcelforce and the Post Office are due to vote. The union Unite said the ballot had been organised in protest at what it said were plans to cut 1,500 m... more

Car production rises 5.8%
Car production in the UK increased by 5.8% in September, according to figures released by the Society of Motor Manufacturers and Traders (SMMT). A total of 126,548 cars were built at UK factories in September bringing the total made so far this year to 937,891, a 35% increase on last year. Production of commercial vehicles at UK factories also rose last month, up 16.7% to 11,339. "In yest... more

Lending to small firms falls £2.5bn
Lending conditions remain tight for smaller firms despite easing credit conditions for larger businesses, according to the Bank of England's latest Trends in Lending report. Net lending to businesses in the UK declined by £2.5bn in July and remained subdued in August. Data also revealed that mortgage approvals dropped during the month amid weaker demand for home loans, although lenders have... more

Firms face green ‘stealth tax’
The government has been accused of hitting firms with a green stealth tax after it changed the terms of a scheme aimed at cutting energy use. Yesterday's comprehensive spending review revealed that funds raised by a levy on firms' energy consumption will not now be given back to those who cut their bills the most. This money - estimated to be around £1bn a year - will now go into the govern... more

New video advice service for SMEs
Small and medium-sized business owners have been advised that they can access a new free online video advice service aimed specifically at UK IT decision makers. Categories and topics covered on the website include Cloud Computing, Data Management, IT Finance, Virtualisation, IT Infrastructure, IT Security. In addition to the thousands of videos instantly accessible to users, GuruOnline IT b... more

Retail sales decline again
Retail sales declined by 0.2% last month compared with August, according to the Office for National Statistics (ONS). This is the second successive monthly fall in retail sales and the figures are likely to reinforce the view that Britain's economic recovery has peaked after bouncing back from an 18-month recession. "Today's figures provide further evidence to suggest that the period of surp... more

EU pass new maternity law
Business owners should be aware that the European Parliament has voted through proposals that would extend maternity leave from 14 to 20 weeks on full pay and introduce a compulsory fully paid paternity leave of two weeks. UK business leaders lobbied against the proposal, which it is estimated could cost UK businesses around £2.5bn a year. However, even though MEPs have approved the 20-week... more

BOE: UK faces 'sober' decade
The country is facing an unpleasant and "sober" decade, according to Bank of England governor Mervyn King. Speaking on the eve of the government's spending review King said that the decade would be one of "savings, orderly budgets, and equitable re-balancing". Mr King said there would not be a speedy recovery as the re-balancing of the economy would take some time and that it would be some t... more

UK borrowing hits £16bn in September
The government borrowed a record £16.2bn in September, according to figures released by the Office of National Statistics. This is the highest borrowing figure for September on record and takes the country's total net debt to 57% of GDP. In this financial year the government has borrowed a total of £73.5bn. This is actually lower than the £77.4bn borrowed by this time last year, when annu... more

Factory orders decline in October
Factory orders in October declined at the fastest rate since April, according to data released by the Confederation of British Industry (CBI). The industrial trends survey showed the total order book balance dropped to minus 28 this month, from minus 17 in September, far lower than was expected. Despite the poor reading, the CBI said it still expects the economy to pick up after its poor sho... more