Business News Articles

Eurozone inflation at 20-month high
Inflation in the eurozone has risen to 1.7% in July, the highest rate in 20 months. This is an increase from the previous month's 1.4%. The rise has been attributed to more expensive fuel costs for transport, and higher alcohol and tobacco prices. Some countries - Finland, Greece, Spain, Portugal and Romania - raised their rates of VAT in July, which also helped to push prices higher. "Th... more

Government’s progress is ‘encouraging’
The coalition government's first ninety days in power has been ‘encouraging' according to the British Chambers of Commerce (BCC). The BCC is particularly impressed with the government's actions on producing a credible plan to reduce the budget deficit, reforming public pensions and reviewing existing employment regulation that affects employers "Early action on deficit reduction and burden... more

Rail fares could ‘rise 8%’
Small and medium-sized business owners have been warned that rail fares may rise by up to 8% next year if the Department for Transport (DfT) is hit hard in the government's spending review. The majority of rail fares are currently capped at inflation plus 1% but this could rise to 2% or 3%. Increases are based on July's RPI measure, expected to be 5%, which could mean increases of up to 8%. ... more

Talks aimed to prevent BAA strike
Talks to try and avert strike action at BAA's six UK airports could start this weekend after Acas said it was seeking an early meeting between the two sides. Staff at BAA yesterday voted three to one in favour of industrial action after they rejected a 1% pay rise. Any strikes would close Heathrow, Southampton, Edinburgh, Glasgow, Stansted and Aberdeen airports. Unite has said it will not de... more

Firms owned by women are 'safer'
Business owners that are owned by women are more financially sound and risk-averse that those owned by males, according to research conducted by SimplyBusiness.co.uk. The data showed that male entrepreneurs cost insurers 60% more to provide insurance cover for than those firms owned by women. The study revealed that less than a quarter of female entrepreneurs have had a company cease trading... more

Unemployment falls to 2.46m
Unemployment in the UK declined by 49,000 to 2.46m in the three months to June, according to the Office for National Statistics. This is the second consecutive month that jobless number has fallen, with analysts describing the figures as positive news for the UK jobs market. The claimant count for those seeking unemployment benefit also fell by 3,800 in July to 1.46 million. However, the ... more

Trade deficit narrows
The UK's trade deficit was cut sharply in June after an increase in exports, according to the Office for National Statistics. The deficit on goods and services in June fell to £3.3bn, against £3.8bn in May. However, analysts said that exports were unlikely to boost economic growth in the coming months "It's hard to get too excited. The narrowing did little more than reverse May's sharp ... more

Retail sales growth slows
Retail sales growth slowed in July as fears over government spending cuts knocked consumer confidence, according to the British Retail Consortium (BRC). Like-for-like sales rose 0.5% compared with July 2009, down from 1.2% in June. Sales also suffered since the end of the World Cup, with TV sales in particular declining. Talk of public spending cuts is unsettling customers and they are conce... more

Jobs market to ‘stall’
Recovering in the UK's job market will stall as demand for workers in the public sector falls, according to new research from the Chartered Institute of Personnel and Development (CIPD). The CIPD's data shows that a third of employers expect to cut jobs in the next three months. The worst of the job losses will occur in the public sector, with 36% of those surveyed looking to lose staff. ... more

Bank chiefs to address business lending
Six UK banks have announced they are to form a taskforce to help increase lending to businesses. British Bankers' Association boss Stephen Green - who is also chairman of HSBC - outlined the plans in a letter to chancellor George Osborne. In his letter Mr Green said there was a "need to make sure that viable businesses are able to obtain the finance they need to support the recovery of the ... more