Business News Articles

HSBC announces £1bn fund for UK small firms
HSBC has created a new £3.4bn working capital fund for small and medium sized businesses, with £1bn allocated to UK customers. Britain's biggest bank has stated that the money will be made available to ensure that small firms can continue to have access to credit during the current economic crisis. "SMEs are the lifeblood of most economies and it is their success that will create economic ... more

Drop in factory gate prices
A fall in the price of oil saw a 0.7% drop in the cost of goods leaving the UK, figures showed... more

Online retailers set for busiest day of the year
The UK is set for its biggest internet shopping day of the year, according to the Interactive Media in Retail Group. ... more

16-year old entrepreneur’s firm has turnover of £400,000
A teenager entrepreneur who set up an electronics company for just 50p has built up the company to such an extent that it now boasts an annual turnover of just under £400,000. 16-year old Gary Cooper started his online company selling mobile phones and electronic gadgets two years ago, and now employs four staff. The teenager - who is currently studying for his A-levels - commented, "I don'... more

Nokia predicts 5% handset decline in 2009
Nokia has announced that it expects the global handset market to decline by at least 5% next year. If the world's largest mobile phone maker is correct, then it would signal the first real decline of the industry that has enjoyed almost unprecedented growth in the last decade. The announcement is the second time in the last month that Nokia have cut their global handset market predictions. ... more

Over 50’s concerned over job prospects
54% of workers over the age of 50 believe that the current economic troubles will negatively affect their employment status, according to a survey by the Bank of America and the Prince's Initiative for Mature Enterprise charity (PRIME). The report also reveals that over 50% of workers aged over 50 feel that they are at a disadvantage in the work place because of their age. There are over 3.5... more

Paphitis walks away from Woolworths talks
Serial entrepreneur and Dragons' Den star Theo Paphitis has failed to reach an agreement with the creditors of troubled high street retailer Woolworths. The Dragon met with the creditors to discuss a rescue package to keep the chain in business. Phaphitis is one of several businessmen who have met with Deloitte - Woolworths administrator - to discuss saving the UK firm. “I am very disap... more

New car sales drop by fastest rate in almost thirty years
New car sales in the UK have fallen to their lowest level in 28 years, according to recently released figures. The Society of Motor Manufacturers and Traders have reported that nearly 13,600 fewer new cars were sold last month than during the same period last year. This figure represents a 36% drop in sales from November 2007. The decline in sales has hit across all types of vehicles with lu... more

Only three banks pass on latest interest rate cut in full
The majority of Britain's biggest banks are refusing to pass on yesterday's 1% rate cut by the Bank of England to customers. Of the UK's eight biggest financial institutions only three have so far promised to pass on the latest cut in full; Lloyds, TSB and HSBC. Lloyds TSB is the only bank to have passed on last months rate cut and yesterdays cut in full. The country's biggest building so... more

Government apprentice target under threat
The government’s target of having 400,000 young people in apprenticeships by 2020 could be under threat due to the economic recession, according to two parliamentary reports. ... more