Business News Articles

Energy firms urged to cut prices
The main UK energy companies are coming under pressure from the government to cut their prices in the wake of the falling cost of oil... more

UK insurance company among bidders for AIG
UK Insurance company Prudential is among the list of bidders for parts of troubled insurance giant American Institute Group (AIG). The UK firm is thought to be bidding against MetLife and Axa, all of whom are understood to have conducted separate talks with AIG over deals for various sections of their company. AIG was once the world's largest insurer but has recently fallen into financial di... more

Increased legislation hindering small firm employment
Small businesses in the UK are put off from employing staff because of the burden of increased regulation, according to a new report by the Federation of Small Businesses (FSB). The FSB report shows that only one in five employers feel confident about employment law, and many are put off hiring by what they consider to be excessive regulation. The report also reveals that the number of sole ... more

Egg fined over £700,000 for misleading customers
Online banking company Egg have been fined £721,000 for ‘serious failings' in sales of payment protection insurance (PPI) to its credit card customers. The financial services authority (FSA) revealed that it found failings in around 40% of telephone sales to its customers from January 2005 and December 2007. The FSA found that Egg staff was instructed to over emphasise the positive featur... more

Investment backing still available for start-ups
The economic downturn has increased the power of investors over entrepreneurs, but new business start-ups are continuing to attract support from investors, according to entrepreneur's social network site cmypitch.com. Entrepreneurs are being forced to revise the amount of money that they seek, with figures of £25,000 to £50,000 the most common. "Investors are being much more cautious abou... more

Government's '£2bn red tape saving' for businesses is disputed
The government has claimed that their drive to reduce red tape in the UK is succeeding, and is saving UK businesses just under £2bn a year. An official government report states that the simplification and abolition of 240 measures has helped to remove certain unnecessary burdens and put the government on track to meet its target of cutting needless bureaucracy 25% by 2010. The figures have ... more

Employers warned over increase in cost of job loss claims
Employers are being warned to brace themselves for an increase in the cost of unfair dismissal claims due to a change in the law and the current economic downturn. The maximum compensation that can be awarded is due to rise in February by 5% to £66,200. The length and depth of the recession influences compensation payments, because the amount awarded is based on the length of time a previou... more

UK economy closer to recession
The UK economy shrank by 1% in the two months between September and November, figures from the National Institute of Economic and Social Research (NIESR) suggest. ... more

Over 10,000 UK shareholders targeted by fraudsters
Businesses have been warned that criminals have a list of over 11,000 UK shareholders to whom they are trying to sell over-priced or non-existent shares. The Financial Services Industry (FSA) has written to the individuals on the list - which includes personal data such as full names, addresses and telephone numbers - to warn them over the scam. "The details on the database provide fraudster... more

An extra 700 trains a day to run in the UK
Train companies will be running over 700 more trains a day during the working week from Sunday December 14, according to The Association of Train Operating Companies (Atoc). Many services will also benefit from longer and faster trains with the completion of a multi-billion project helping to improve journeys on the London to Scotland West coast main line. "The improvements will be felt by p... more