Business News Articles

Online sales predicted to jump 15%
Online sales for the final three months of the year in the UK are expected to be worth over £13bn, according to research by IMRG and Capgemini. This figure would represent £215 per person in the UK, and would represent a 15% rise from online sales figures last year. These sales would provide a boost to the internet shopping sector, which recently recorded its first monthly traffic fall sin... more

UK pension funds in £100bn deficit
Salary pension schemes in the UK have fallen further into negative value, according to reserch by the Pension Protection Fund (PPF). After examining the finances of just fewer than 8,000 private sector schemes the PPF discovered that in October their collective debt was £97bn. At the same time last year the schemes had a surplus of £80bn. "During the month of October 2008 there was a 6.... more

SME recruitment rate drops
Employers are less optimistic about creating new jobs than at any time since 2004, according to a survey by the Chartered Institute of Personnel and Development (CIPD). The research revealed that the balance between those companies intending to recruit and those planning on laying staff off had fallen from +41 a year ago to +2. ... more

English Partnerships wins lifetime award
National regeneration agency English Partnerships have been awarded a lifetime achievement award for the company's contribution to regeneration and innovation. The 2008 Housebuilder Special Award was presented to English Partnerships at the Housebuilding Innovation Awards at the end of October. "The cornerstone of English Partnerships over the last fifteen years has been to create high-quali... more

Vodafone increases stake in Vodacom
Vodafone have purchased a 15% stake in South Africa's largest mobile phone operator, Vodacom. The deal is worth £1.4bn and when finalised next year will take Vodafone's share in the South African company up to 65%. "Africa is the place that we are looking at and to make Vodacom the investment vehicle for any expansion is the most important step that we have taken," said Morten Lundal, Vodaf... more

3i records loss on assets
The UK's largest private equity firm, 3i, has recorded a negative return on investments as the economic crisis has eroded the value of the firm's assets. The private equity firm saw its return to shareholders for the first six months of the year come in at a loss of £182m, compared to a profit of £512m in the same period last year. This is the first time in over five years that the firm ha... more

Proposal to stop businesses recovering legal defence costs
Companies and business owners cleared of criminal charges could be barred from recovering defence costs under a government proposal to curb taxpayer-funded legal spending. The ministry of justice is considering whether the public should subsidise legal fees of defendants that hire high price lawyers rather than solicitors who work on legal aid rates. The changes could lead to businesses that... more

New car sales suffer record decline
New car sales in the UK have fallen at the fastest rate for 17 years, according to a report by The Society of Motor Manufacturers (SMMT). New car registrations fell by 23% to 128,352 units in October, the largest drop the industry has experienced since 1991. This is the fifth consecutive month that news car sales have fallen, and the report also revealed that throughout 2008 1.9m new cars ha... more

Business partnership for Oxford Entrepreneurial society
Oxford Entrepreneurs, the biggest student society at the University, have announced a partnership with venture capital companyOctopus Ventures. Members of the venture capital company, which is aimed at early stage and growth businesses, will sit on the society's advisory board, will lead workshops for its members and participate in judging the annual entreperenurial competition. The deal wil... more

Google abandons partnership with Yahoo
Search engine giant Google has abandoned its search advertising partnership with Yahoo because of an antitrust lawsuit due to be filed by the American justice department. Yahoo and Google began an experiment of placing Google ads within some of Yahoo’s search results in April this year. Yahoo announced that the tie-in with Google would be worth $800m annually and would generate between £2... more