Business News Articles

AA patrol staff to strike on May 2
AA patrol staff have announced that they will hold a two-day strike commencing on May the 2nd. The strike - which will take place over the spring bank holiday - is the first in the 105-year history of the AA. Members of the Independent Democratic Union (IDU) voted in favour of industrial action on Wednesday in a dispute over pensions. The IDU said that this would be the first in a series of ... more

Interest rates held again at 0.5%
The Bank of England has kept interest rates at the historic low of 0.5% for the 13th month in succession. This decision was widely expected, as it is feared that any rise in the cost of borrowing could damage the country's economic recovery. The UK emerged from recession in the final quarter of last year after six consecutive quarters of contraction. Despite the UK officially exiting recessi... more

UK car sales increase 26%
Car sales in the UK increased by 26% compared with the same month last year, according to data released by the Society of Motor Manufacturers and Traders (SMMT). The SMMT said that the UK motor industry had enjoyed a better than anticipated first quarter of the year and that 397,383 new cars were registered in March. This rise in car sales is especially impressive considering that the govern... more

House prices rise 1.1%
UK house prices rose 1.1% in March after a drop in February, according to data released by the Halifax. The increase means that the average home in the UK now costs £168,521 - nearly £11,000 higher than a year ago. The latest increase pushed the annual rate of house price inflation up to 5.2% from 4.5% in February. "This was the eighth rise in the past nine months, taking the average price... more

AA patrol staff vote to strike
Small business owners should be aware that AA patrol staff have voted to go on strike in a dispute over pensions. The Independent Democratic Union (IDU) said its members had voted 57% in favour of industrial action in an 87% turnout. No strike dates have yet been set and the union is asking the AA to hold more talks on the issue. However, the motoring group said it had drawn up contingency p... more

BCC: Economic double-dip ‘avoided’
The UK's economic recovery is still on course and a double-dip has been avoided, according to data released by the British Chambers of Commerce (BCC). The BCC's survey of over 5,000 businesses suggested that the economy continued to grow in the first quarter of 2010. Growth was largely due to the service sector's performance improving, with most indicators now positive compared to the last q... more

Branson gets £100m cash injection
Serial entrepreneur and Virgin founder Richard Branson received a boost with news that American tycoon Wilbur Ross will inject £100m into Virgin's launch into high street banking. The American billionaire will receive a 21% stake in Virgin money for his investment and is reportedly also ready to put in £500m to help Branson with his ambition of buying more than 300 RBS branches. Virgin fac... more

Job opportunities fall 3% in March
Employer demand for new workers decreased in March, according to data released by recruitment site Reed.co.uk. Despite unemployment figures continuing to fall the number of new job opportunities declined by 3% in March. "Overall demand for new staff has dropped, reversing the slow but steady rise in of vacancies that began at the turn of the year. While new jobs are still at a higher level t... more

Election called for May 6th
Prime Minister Gordon Brown has confirmed that the UK general election will be held on May 6th. The date had been widely expected as Mr Brown admitted that it was the "least well-kept secret of recent years". Both the Labour party and the Conservatives have been courting the small business vote, with many believing that the Tories have the majority of support after unveiling their plans to c... more

New £500,000 data security fine
Small businesses owners have been warned they could be fined up to £500,000 in the event of a data security breach as new powers for the Information Commissioner's Office (ICO) come into force today. The ICO can now fine businesses up to £500,000, equivalent to 10% of the highest annual turnover of a small company, if they lose individuals' confidential data. Previously the ICO had the pow... more