Business News Articles

Strong rise in online sales
Internet spending in the UK rose by 38% in the first six months of 2008 compared to the same period a year earlier, according to figures from the Interactive Media Retail Group (IMRG) and consultancy Cap Gemini. The research found that 17p in every pound was spent online as consumers looked to the internet for bargains to offset rising prices on the high street. ... more

Two-thirds of homes online
Almost two-thirds of houses in the UK now have online access, according to figures from the Office for National Statistics. The data revealed a rise of 1.2m since 2007, taking the total number of houses connected to the internet to 16.5m. ... more

Yahoo fires 10% of workforce
Internet giant Yahoo has announced plans to fire at least 1,500 members of staff as the US company grapples with the current economic climate. This cut equates to 10% of Yahoo's workforce and is the company's second mass layoff this year. The search engine recently reported a 64% slump in profits from this time last year - down from £91.1m to £32.5m. "We are going into what is very clea... more

SME electricity provider enters administration
An electricity provider that supplied power to 40,000 small firms has gone into administration. According to energy regulator Ofgem, Milton Keynes-based Electricity 4 Business (E4B) was unable to find a buyer and existing customers will be automatically transferred to another supplier. ... more

Profits down at Lloyd's of London
Lloyd’s of London – the world’s largest insurance market – has been hit by the credit crunch and natural disasters. Profits at the group fell from £1.8bn in 2007 to £949m this year, and Lloyd’s warned that recent events would also have an impact on the second half of 2008. ... more

Credit crunch keeps owners awake
One in six small business owners is losing sleep over the impact of the economic downturn, research by Norwich Union suggests. The survey found that just under half thought the slowdown was cause for concern while 30% are worried about clients defaulting on payments due and 23% fear the impact of rising energy bills. ... more

Director pay up despite slump
Directors of British companies received above-inflation pay rises last year despite the economic slowdown, research by Deloitte has shown. The average increase for a FTSE company director was 6.2%, down from 7% the previous year, according to the accountancy firm’s research. ... more

Electronic payslips ‘will cut CO2’
Businesses could make a real difference to their carbon emissions by switching from paper to electronic payslips. That’s the verdict of HR management software provider MidlandHR, which estimates that companies could collectively save 994 tonnes of carbon as well as boosting their image by making the switch. ... more

Women still paid less than men
Women’s pay is growing at a slightly higher rate than men’s but it would still take 187 years to close the gap, according to figures from the Chartered Management Institute (CMI) and CELRE. The survey found that women’s pay increased by an average of 6.8% over the past 12 months – a rise from 5.2% the previous year – compared to a rate of 6.6% for men. ... more

Recruitment franchises available
Recruitment company Weststaff has created a new management franchise to provide opportunities for people at regional manager level. The organisation is planning significant growth across the UK in 2008 based around finding permanent and temporary staff for blue-chip and national clients. ... more