Business News Articles

New cars sales rise 11%
Sales of new cars increased 11% in September compared to the same month last year, according to figures released by the Society of Motor Manufacturers and Traders (SMMT). The SMMT have said that conditions remain "challenging" but that the market was being supported by the scrappage scheme, which the government recently announced has been extended by an extra £100m to £400m. The initiative... more

House prices see quarterly rise
UK house prices have experienced their first quarterly increase in two years and risen for three months in succession, according to figures released by the Halifax. The average home rose in value by 1.6% in September compared with the previous month and is now worth £163,533. The Halifax has attributed the rise to increased demand, a lack of supply and the historic low interest rate. "Th... more

Industrial output falls 2.5%
Industrial output in the UK fell unexpectedly in August, creating doubt over the strength of the economic recovery, according to figures released by the Office for National Statistics (ONS). The ONS have revealed that industrial output declined 2.5% from July to August - the biggest fall since January. Economists had expected a 0.2% rise in August. The steep decline followed a month-on-month... more

Retailers face 'hard Christmas'
The UK's high street stores face a difficult Christmas trading period as fears about jobs and efforts by consumers to cut back spending lead to falling sales, according to recovery specialist Begbies Traynor. The recovery firm have reported a dramatic increase in the number of retailers which face 'critical financial problems' ahead of the festive season, with its 'red flag' early warning syste... more

UK service sector grows
The UK service sector expanded at its fastest rate for two years in September, according to the latest Chartered Institute of Purchasing and Supply (CIPS) survey. The figure for the sector rose to 55.3 in September from 54.1 in August - the fifth month in succession that the sector has grown. Any figure above 50 indicates expansion and restaurants, hotels and companies offering services to o... more

Branson 'best for customer service'
Serial entrepreneur Sir Richard Branson has been voted Britain's best ambassador of customer service, according to a survey by the Institute of Customer Service. The survey participants - all customer service professionals taking part in annual National Customer Service Week from October 5-11 - voted Amazon founder Jeff Bezos second. Jo Causon, the Institute's chief executive, says it is no ... more

Pay freeze for third of workers
A third of all businesses plan to freeze pay this year, according to research by pay analysts IDS. The firm's research found that while a third of companies are freezing staff pay among that business that are giving wage increases the average figure is 2.9%. Although small businesses are freezing, or actually cutting pay this year, they have been warned that they will need to offer increased... more

Firms put off expansion by red tape
The government must change the regulatory frame work that governs small business to help provide the economy an economic stimulus, according to the Federation of Small Businesses (FSB). The FSB have called for a cut to all new business regulation and for red tape to be simplifed to seriously tackle the challenging economic climate. In a FSB survey 27% of respondents said that they wanted to... more

House prices ‘back to 2008 level’
House prices in the UK have recovered to the same levels as a year ago, according to figures released by Nationwide. The average price of a home last month rose by 0.9% to reach £161,816 - an almost identical price as that of September 2008. House prices have now risen for five months in succession. Nationwide have predicted that the worst of the recession is over but that house prices are... more

UK factory output continues to fall
Activity in the UK manufacturing declined for the second month in succession in September, according to a survey by The Chartered Institute of Purchasing & Supply (CIPS). The CIPS index declined to 49.5 in September from August's figure of 49.7. A figure below 50 implies contraction rather than growth. However, Rob Dobson of Markit, which carried out the survey on behalf of CIPS have said th... more