Business News Articles

Bank cautious over quantative easing
The Bank of England is wary of withdrawing its £125bn quantative easing plan too early for fear that it will harm the economy. "We are going to need to withdraw the stimulus.... But we don't want to do it too early and nip the recovery in the bud," said deputy governor of the BOE Charlie Bean at a regional meeting in Leeds yesterday. The Bank surprised many commentators last week by decidin... more

Retail sales rise 1.4% in June
Retail sales rose 1.4% in June compared to the same month last year, according to figures released by the British Retail Consortium (BRC). It had been predicted that like-for-like sales would drop 0.4% in June, so the increase has led to hopes that consumers are beginning to spend again. "June's sunshine gave overall sales a much-needed boost. The heatwave helped food retailers and got custo... more

Review of retirement age brought forward
An employer's right to retire staff at the age of 65 could be ended as the government brings forward to next year a review on the default retirement age. The move is a surprise, as employers' organisations had not expected a review of the system until 2011. The Confederation of British Industry (CBI) have said that the decision is "disappointing, especially at a time when so many businesses ... more

60% of small firms not cutting staff
The majority of small companies have not reduced staffing levels this year, according to new research by The Open University Business School in association with Barclays Bank and ACCA. The research has revealed that 62% of small businesses have not reduced employment levels this year and almost half of respondents, especially those employing more than five people, now aim to expand over the nex... more

Only a third of firms managing online reputation
Only 20% if businesses have a regularly updated blog and just 37% actively manage their online reputation using sites such as Twitter and Facebook, according to a survey conducted by digital marketing agency Queba. This is despite the fact that that 91% of respondents stated that the perception of their brand online is important to their business and 66% agreeing that using blogs and social net... more

BAA report 5.9% drop in passenger numbers
Troubled airports operator BAA experienced a 5.9% decline in passenger numbers in June, as the recession continues to affect business travel and holidaymakers. Flights from Stansted fell 11.5%, Gatwick saw a fall of 7.6% and Heathrow saw traffic drop 3.6%. Domestic traffic was down 8.1% in June, European scheduled flight passengers were reduced by 2.8% and travellers on North Atlantic routes... more

Crimes against businesses increase
Crime against businesses increased in 2009, according to research conducted by The Institute of Directors (IoD). The survey revealed that 18% of directors noticed an increase in crime in the last year, with 33% of respondents saying that their company had experienced fraud, 29% internet crime and 18% theft by a member of staff. "It looks like one of the many side effects of this recession is... more

New fund established for internet start-ups
Four of the biggest names in the UK digital media scene are launching an investment fund for internet start-up companies. The fund, PROfounders Capital, has been set up by Michael Birch, co-founder of Bebo, Brent Hoberman co-founder of Lastminute.com and entrepreneurs Peter Budens and Jonathan Goodwin. Over $30m has already been raised, with plans to more than double this amount by bringing ... more

Interest rates held at 0.5%
The Bank of England has held interest rates at the historic low of 0.5% for the fourth month in a row. The Bank decided against spending an extra £25bn in its quantitative easing scheme, deciding to continue with its current plan to spend £125bn. The Confederation of British Industry (CBI) has stated that more quantative easing will be needed to help the economy before the end of the year.... more

Mamut's small firm product wins award
Mamut has won the Microsoft Worldwide Partner Awards with Mamut One, a service that is geared towards small and medium-sized businesses. The Software + Services model gives UK SMEs the possibility to significantly reduce the costs of running their business, increase their efficiency and focus more on their customers. ‘'In the current economic climate, small firms need to look at every poun... more