Business News Articles

BT announces winner of Outstanding Entrepreneur of the Year award
The BT Business Essence Entrepreneur competition has announced its outstanding 20 entrepreneur of the year. For the first time in the competitions three-year history the judges chose an overall winner, Michael Welch of tyre franchise firm Blackcircles who was crowned the Outstanding Entrepreneur of the Year and awarded a £20,000 grant from BT. Mr Welsh said that he plans to spend most of th... more

Poor government advice costing small firms ‘£800m a year’
A government funded review into how SMEs are supported by the government will report that poor advice is costing small firms around £800m a year. The Anderson review, chaired by entrepreneur Sarah Anderson, was set up to identify and evaluate the ways that small companies interact with Whitehall to ensure that they comply with laws on issues including employment, environmental standards and he... more

Open letter by Barclays’ helps shares recover
Shares in Barclays recovered yesterday after the bank issued a letter insisting that it did not have to raise fresh capital. Barclays' saw its shares rise 73% after the bank's chairman and chief executive took the unusual step of publishing an open letter which stated that the bank made over £5bn in profits and did not require new capital. Shares UK banks collapsed last week following conce... more

FSB call for changes to Business Rate Supplements Bill
The Federation of Small Businesses (FSB) has called on the government to allow small firms to have a say over the proposed Business Rate Supplements Bill. The Bill will impose extra tax burdens on businesses, and the FSB is seeking a number of amendments to ensure that the supplement will only be spent on economic development. As well as calling for businesses to be consulted and have a vote... more

BA to launch in-flight texting service
British Airways is to launch an in-flight mobile phone service when its new all-business-class route from London City airport to New York beings flying this autumn. Business travellers will be able to use emails and texts on the flight from their own mobiles and laptops, and there are plans to introduce calls in the future. "This is great for our customers who want to do business in the air,... more

Regus to provide new firms with £10m worth of assistance
Mark Dixon, the chief executive and founder of Regus has launched a £10m fund to support those who want to set up a new business. The Entrepreneur has announced that free office space and advice will be provided by Regus to assist new start-ups in the current recession. "We've got a lot of talent in this country and you'll have a lot of people losing their jobs who will find there are just ... more

New report ranks how hard UK cities will be hit by recession
Cities throughout the UK have been ranked by how hard the recession is likely to hit them, according to a report issued by think-tank Centre for Cities. The think-tank has published Cities Outlook, which assesses the health of 64 of the country's largest UK cities and evaluates how hard they will be hit by the recession by giving them a rating of red, amber or green. The cities on red saw th... more

Nokia operating profits decline by almost 50%
Nokia, the world's largest maker of mobile phones has reported a sharp drop in profits in 2008 and predicted that the coming year would be equally difficult. The company reported that operating profit for the year dropped from €7.9bn in 2007 to €4.96bn for 2008. The Finish firm controls around 40% of the global market for mobile phones, and the company's health is regarded as a good indi... more

Car production drops 47% in December
Car production in December fell 47.5% compared to the same period in 2007, according to recently released figures by the Society of Motor Manufacturers and Traders (SMMT). A major reason why the decline was so steep is that a number of car manufacturers closed for several weeks over the Christmas period in a bid to save on costs. This is the third consecutive drop in monthly car production i... more

New £10m fund will invest in small companies
A group of leading consumer goods executives are forming a Dragons' Den style £10m fund that will invest in small companies and provide them with strategic advice. The Spayne Lindsay Consumer Brand Fund will identify successful small companies that need extra finance in order to take their business to the next level. "A lot of small companies are having their credit facilities questioned or... more