Business News Articles

Number of new mobile phone subscribers drops 15%
The number of new mobile phone subscribers in the world fell sharply in the fourth quarter of last year, according to data compiled by Informa Telecoms & Media. The figures show that the total of new subscribers to a mobile phone service fell 15% to 162m in the last three months of 2008. "We do have to take into account the impact of market saturation and the recent restructuring of the worl... more

Increase in house buyer enquiries and mortgage approvals
New house buyer enquiries increased in March and the number of mortgages granted by banks and building societies increased by 4% in February, according to new figures. Data from the Royal Institute of Chartered Surveyors (RICS) showed that new buyer enquiries rose in March by 31% compared to February's 21% rise - the fifth consecutive month that buyer enquiries have increased. London experie... more

Small firm owners warned over increased threat of fraud
Small business owners have been warned to guard against fraud in the recession by The Fraud Advisory Panel (FAP). Reported numbers of fraud have increased against businesses in the UK in recent years and the recession has led to a surge in the number of cases. "Recession brings enormous pressures and it's tempting for small firms to treat fraud as the least of their worries. But coping with ... more

Survey reveals that big cities suffering 'worst job loss rises'
Big cities outside London experienced the worst job losses over the last year, according to a new study by The Work Foundation. The poll, which tracked unemployed from February 2008 to February 2009, found that Birmingham suffered the biggest rise in the number of people claiming unemployment benefits. The percentage of the people out of work in Britain's second city rose from 5.3% to 7.3% -... more

Only 25% of small firms view IT security as a 'priority'
Spending on IT security is only viewed as a priority by a quarter of small and medium-sized companies, according to a report by Redshift Research. The survey highlights how many small companies are not taking IT security seriously enough, with less than half screening USB sticks before allowing network access and 60% of firms having little or no policy regulating network access. The SME Secu... more

97% of firms think counterfeiting will increase in recession
Businesses believe that the recession and the growth of the internet has placed them at a much greater risk of counterfeiting than ever before, according to new research by Marks & Clerks. The survey of over 200 firms found that 97% think that counterfeiting will increase in the recession while 80% believe businesses will be at "much greater risk" than in previous downturns due to the growth of... more

Large companies are ‘worst offenders’ for late payments
Over one million small and medium-sized companies are struggling to maintain cash flow levels due to delays or defaults on the payments of creditors' bills, according to a poll by Tenon Recovery. The poll of more than 1,200 entrepreneurs showed that large companies are the worst offenders when it comes to late payments. "56% of those who experienced late payments commented that they had come... more

VAT cut ‘boosted consumer spending by £2bn'
The government's cut in VAT is working and has led to an increase in consumer spending, according to research by economic consultancy The Centre for Economics and Business Research (CEBR). The CEBR have said that the cut - which was introduced on 1st December 2008 - has led to an extra £2bn worth of sales and that the cut, which expires in January 2010 should be extended for another six months... more

Poll shows consumers now placing value above brand loyalty
Consumers are ditching their normal brands as they seek for better deals in the current economic climate, according to a poll of 3,000 consumers by Kyp Systems. The poll found that 39% of shoppers are more likely to stop buying a brand that they had previously been loyal to if they can get a bargain somewhere else. Consumers will sacrifice high levels of customer service, green credentials a... more

Lowering of redundancy threshold would ‘increase unemployment’
The qualifying period for workers to receive statutory pay should be reduced by half to twelve months, according to the Trades Union Congress (TUC). Under current UK rules workers must be employed by their company for at least two years to receive statutory redundancy pay. The TUC have claimed that reducing the time limit to twelve months would benefit more than 20m UK workers. However, busi... more