Business News Articles

Levi Roots sued over Reggae Reggae Sauce
Dragons' Den star Levi Roots is being sued by a former friend who claims that he invented Reggae Reggae Sauce. Tony Bailey, who worked with Mr Roots for 17 years on a food stall, has filed a claim in the High Court for more than £300,000. Levi Roots is one of the most famous and successful entrepreneurs to have appeared on the BBC television show and received investment of £500,000 from Ri... more

Firms ‘fear hung Parliament’
Business owners are increasingly concerned about the potential impact on their business of a hung Parliament after the election, according to data released by the British Chambers of Commerce (BCC). The BCC survey found that 65% of 300 firms were either "concerned" or "very concerned" about the prospect of no clear winner. "Instinctively, companies prefer a clear mandate to lead and govern. ... more

UK economy grows 0.2%
The UK economy grew by 0.2% between January and March, according to figures released by the Office for National Statistics (ONS). This is weaker than the 0.4% growth that many economists had predicted, but the figure may be revised in the future. This occurred with last quarter's GDP figure, which was originally estimated as 0.1% but revised up to 0.4%. Despite the gorwth being less than pre... more

Car production rises 90%
Car production increased 90% in March compared to the same month in 2009, according to data released by the Society of Motor Manufacturers (SMMT). This is fifth consecutive monthly increase and the largest gain in the 40 years the SMMT has been compiling data, A total of 117,622 cars were produced in the UK as well as 13,046 commercial vehicles, a 87% gain on the same month last year, How... more

Government borrowing hits £163bn
Government borrowing has reached a record high of £163bn this year, according to figures released by the Office for National Statistics. This is the largest annual borrowing figure for a UK government in peacetime. Total government debt now stands at £890bn - equivalent to 62% of GDP. Government borrowing is actually slightly less for the 2009-10 financial year than forecast by Chancellor ... more

Retail sales rise 0.9%
Retail sales increased by 0.9% in March - less than expected - according to figures released by the Office for National Statistics. Sales volumes increased by just 0.4% in March, less than half the figure that City analysts had predicted. This has been blamed on faltering consumer confidence as the UK struggles to emerge from the economic downturn. Annual growth in retail sales has now risen... more

Business failures drop 46%
The number of businesses going into administration fell 46% year-on-year in the first quarter of 2010, according to new figures released by Deloitte. The business advisory firm found that from October to March, the number of company administrations was the lowest of any six-month period of the last four years. Breaking the figures down by sector, the hospitality and leisure industries saw a ... more

Unemployment hits 16-year high
Unemployment in the UK rose by 43,000 to 2.5 million in the three months to February, according to data released by the Office for National Statistics. These figures mean that the jobless total in the UK is at a 16-year high and that the rate of unemployment is now 8%. However, the total number of people claiming unemployment benefit fell in March by 32,900 to 1.54 million - a much sharper d... more

UK flight ban lifted
Airlines in the UK have begun operating again following safety tests which showed plane engines could operate in areas of low density ash. However, passengers have been warned they still face substantial delays due to the huge backlog the six-day flight restriction has caused. BA have stated that it may be weeks before services return to normal. More than 95,000 flights were cancelled across... more

Inflation rises to 3.4%
The UK inflation rate rose to 3.4% in March from 3% in February, according to figures released by the Office for National Statistics. The rise in the Consumer Prices Index (CPI) - the measure of the average price of consumer goods and services purchased by households - was greater than economists had predicted. Increasing petrol prices and rising energy prices were an important factor in ris... more