Business News Articles

48-hour Tube strike commences
The 48-hour tube strike commenced at 7pm yesterday, causing commuters in London to seek other means of transport. The walkout has fully shut down five out of the 11 subway lines with only the Northern line operating without any disruption. Mayor Boris Johnston unveiled a series of measures designed to ease disruption, including additional cycle routes and parking, over 8,000 buses operating on ... more

Airlines to lose ‘£5bn in 2009’
The world's airlines will lose over £5bn in 2009, double the level forecast as recently as March, according to the International Air Transport Association (Iata). Iata, which represents 230 airlines worldwide, said that global airlines were suffering due to the rising cost of fuel and the economic downturn meaning that less customers are using their services. "There is no modern precedent f... more

UK retail sales fall 0.8% in May
Recovery in the UK retail sector slowed in May as the value of like-for-like sales fell 0.8% after a 4.6% rise in April, according to data released by the British Retail Consortium (BRC). However, figures for May were always likely to struggle in comparison to the same month last year, which delivered some of 2008's best figures. "We might have expected better figures as, while there are con... more

Housing market shows further signs of recovery
New homebuyer enquiries increased for the seventh consecutive month and the net balance of house surveyors reporting falling rather than rising prices narrowed in May to -44, according to data from the Royal Institute of Chartered Surveyors (RICS). Although the majority of surveyors are still reporting that house prices are declining, the latest reading of -44 represents the best result since N... more

FSB welcome Sir Alan's new government role
The Federation of Small Businesses (FSB) has welcomed Sir Alan Sugar's appointment as the government's Enterprise Champion. The FSB had been campaigning for a corporate mediator to act as a go-between for high street banks and small businesses on lending issues, and hope that Sir Alan will help stimulate bank lending to small firms. A recent FSB poll showed that 70% of small businesses surve... more

Yasmina Siadatan wins The Apprentice
27-year old restaurant owner Yasmina Siadata has been announced as Sir Alan Sugar's latest employee after winning series five of The Apprentice. Miss Siadata was chosen ahead of fellow finalist Kate Walsh following a final task in which a new brand of chocolates had to be created and then pitched to a roomful of industry experts. "I don't feel like I've beaten Kate because I feel we both des... more

Business confidence rises for third month in succession
Business confidence in the UK rose for a third consecutive month in May to its highest level in nearly a year, according to the latest Lloyds TSB Business Barometer. The survey of more than 200 firms found that 44% expect their business activity to increase during the next 12 months, compared with 35% who stated this in April. Only 16% of respondents expect business activity to decrease, down f... more

Small firms urged to take advantage of overseas markets
Small and medium-sized companies should take advantage of overseas markets and export more, according to a study by the British Chamber of Commerce (BCC). The BCC survey of 3,500 companies found that the majority of small firms only export after being approached by their customers or a distributor and that 50% of SMEs said exports did not feature in their business plan. "Exporting is vital t... more

Smokers costing UK businesses £2bn a year
Staff smoking is costing British companies more than £2bn a year, according to figures released by the NHS and the London School of Economics. The research found that last year businesses lost £1.1bn from smoking related illness absences, £914m from smoking breaks and £133m from fire damage. With many small firms currently struggling due to the economic downturn the research highlights t... more

EU to provide £85m of funding to small business start-ups
The European Commission has revealed plans to provide 100m euros - around £85m - to citizens of European Unions countries that wish to set up a small business. The money would also be used to support exisitng entrepreneurs that are struggling in the economic downturn with mentoring, training and coaching. "This new facility will extend the range of targeted financial support to new entrepre... more