Business News Articles

Law on strikes 'should be changed'
Boris Johnson and the Confederation of British Industry (CBI) have called for changes to the law to make it harder for workers to take strike action. As London currently suffers from another 24-hour tube strike the Mayor wants the government to introduce legislation preventing action unless at least 50% of union members in a workplace take part in a ballot. As the law currently stands indust... more

Employers reminded of new Equality Act
Small and medium-sized business owners must be prepared for the impact of the Equality Act, which is due to be implemented on the 1st of October. Companies of all sizes will be affected by the legislation, which has been more than five years in the making. It will raise a range of practical points for employers to consider to avoid the risks of discrimination claims by employees. Some of the... more

Lloyds most complained about bank
Lloyds Banking Group has topped a new list as the most complained about UK bank, according to data released by the Financial Services Authority (FSA). The state-backed group received more than 280,000 gripes in the first half of 2010. Lloyds has claimed that it received the most complaints because it is the largest bank. "The UK banking industry is committed to its customers and to resolving... more

High street sales rise again
High street sales rose at their fastest rate in six years, according to data released by the Confederation of British Industry (CBI). Retail sales also increased year on year for the third consecutive month and the retail industry expects another strong rise next month. 60% of retailers surveyed by CBI said that the volume of sales rose during September, while 11% said that it fell, giving a... more

Bank should ‘inject money into economy’
The Bank of England should resume its quantitative easing (QE) programme to secure the economic recovery, according to a monetary policy committee member. External member Adam Posen has stated that the Bank should pump more money into the economy through QE to ensure the economy continues to grow. Over £200bn has already been injected into the economy through QE. "Policymakers face a clear ... more

Economic growth unrevised at 1.2%
Official figures have confirmed that the UK's economy grew by 1.2% between April and June. In the past the Office for National Statistics (ONS) have revised the initial figure either upwards or downwards. However, the ONS did revise upwards the growth figure for the first three months of the year, to 0.4% from 0.3%. The 1.2% second-quarter growth represents the fastest quarterly growth since... more

Miliband must not forget small firms
Edward Miliband has been reminded about the importance of small and medium-sized companies by The Federation of Small Businesses (FSB). The FSB has conducted a survey outlining where small firms want government involvement and help. Three quarters of recipients want the tax system to be simplified, 33% believe too much red tape is hindering the growth of their business and 63% are unhappy wi... more

Banking sector continues to grow
The UK's banking sector is growing at its fastest rate since before the financial crisis, according to research by the Confederation of British Industry and PricewaterhouseCoopers. More than a third of UK banks increased their business volumes over the last quarter compared with just 9% that saw volumes fall. Overall profitability of the banking sector also increased for the fifth quarter in a ... more

Tube strike talks fail
Business owners in London should be aware that negotiations to stop another Tube strike in London next month have broken down. Six hours of talks were held on Wednesday between London Underground and leaders of the Rail, Maritime and Transport (RMT) union and the Transport Salaried Staffs Association (TSSA). The unions have confirmed that three planned 24-hour strikes for the 3rd of October,... more

Car production rises 37%
Car production in August was 37% higher than the same month last year, according to data released by the Society of Motor Manufacturers and Traders (SMMT). Year-to-date output is up by 41% and car manufacturers turned out 77,000 vehicles in August of which 57,000 are destined for export, a rise of 51% on the year. "UK vehicle and engine production continues to lead a strong recovery. However... more