Business News Articles

Free start-up service for businesses
Three institutions have combined to provide a service that will assist any entrepreneurs thinking of starting a business. Companies House, the UK Intellectual Property Offices and Business Link have launched an online company name and trademark checker so new businesses can easily and quickly view the availability of a name. When starting a new business picking an original and engaging name ... more

No rate cut for tracker mortgages
Many banks are refusing to pass the recent 0.5% interest rate cut onto their new tracker products. Abbey announced it would be keeping rates for new applicants at existing rates while Lloyds TSB and its subsidiary Cheltenham & Gloucester have said they will only offer trackers to customers with a 25% deposit. ... more

Slight fall in UK trade deficit
The UK’s trade deficit fell slightly in August but not by as much as many analysts had predicted. According to the Office for National Statistics, the gap between imports and exports fell to £8.2bn from £8.24bn in July. ... more

Rate cut ‘good for small firms’
The Forum of Private Business (FPB) has welcomed the Bank of England's decision to cut interest rates and believes it will benefit small businesses. The Bank of England, in conjunction with five other central banks, yesterday cut interest rates by half a point from 5% to 4.5%. The FPB stated that reducing the cost of borrowing would boost the confidence of small businesses, many of which hav... more

New car sales decline again
New car sales in the UK fell by more than 20% last month, according to figures published by the Society of Motor Manufacturers and Traders. This was the fifth consecutive month of declining business, with sales down 21.2% in September. The organisation claims that car sales are falling due to poor consumer confidence, the credit crunch and escalating fuel costs. "The key issue is that con... more

House price falls ‘levelling off’
Two of the country’s biggest mortgage lenders have suggested falling house prices may finally be stabilising. The Halifax and Nationwide both said the rate of decline across three-monthly figures was levelling off but warned that conditions were likely to remain challenging. ... more

FSB warns on interest rate cut
The Federation of Small Businesses has welcomed the surprise news that the Bank of England has cut interest rates by 0.5% to 4.5%. The move will relieve some of the financial pressure on small firms and should provide a much-needed boost to consumer spending in the run-up to Christmas. ... more

Small firms hit by 4% rise in loan rates
Small businesses have been hit by more expensive loans after Barclays increased overdraft rates for some customers from 11.8% to 15.8%. "These are tough times but small businesses need their banks," commented Stephen Alambritis of the Federation of Small Businesses. "We are worried that the relationship between small companies and banks could deteriorate as they did during the recession of t... more

Bank of England cuts rates
The Bank of England, the US Federal Reserve and the European Central Bank are among seven central banks that have cut interest rates by 0.5%. The UK rate move had not been expected until later this week and means interest rates now stand at 4.5%. The US Federal Reserve has cut rates from 2% to 1.5% and the European Central Bank trimmed its rate to 3.75%. Central banks of Canada, China, Sw... more

Government reveals bank bailout
The government has announced details of a rescue package for the country’s largest banks and building societies in a bid to get financial institutions lending to each other again. The package could be worth up to £50bn and will see the government receive preferential shares in those companies. ... more