Business News Articles

Alitalia put up for sale
The administrator dealing with failing Italian airline Alitalia has placed the company for sale in several Italian newspapers. Augusto Fantozzi invited offers from "whoever" could guarantee the future of the airline, which is estimated to be losing more than £1.5m daily. The deadline for any potential buyers to step forward is the end of the month, although such an eventuality appears unlik... more

Mortgage lending hits record low
Mortgage lending by the main banks fell to a record low in August, according to figures released by the British Bankers Association (BBA). The BBA found approvals for house purchases were down by 64% on August 2007, as banks tightened lending criteria and homeowners chose to stay put. ... more

Call for climate change action
A group of UK business leaders have called for a greater effort from the main political parties to counter the effects of climate change. The UK Corporate Leaders Group – developed by the Prince of Wales – includes representatives from Tesco, Shell, BAA and E.ON and called for “deep and rapid” cuts to be made to greenhouse gas emissions. ... more

Free flooding advice for firms
Business Link has created a flood risk assessment guide where companies can access a host of information. The site provides free advice and information including how to tell if a specific site is at risk from flooding, how to get the best insurance deals, how to draw up a flood plan and how to train employees to deal with flooding and its aftermath. "Simple preparation and planning can help ... more

Sharp fall in mortgage lending
Mortgage lending in August fell 12% from the figure in July and was 36% lower than a year ago, figures from the Council of Mortgage Lenders revealed. The total amount of new money loaned was £21.8bn in July, the lowest monthly figure since April 2005 and lowest point for an August since 2002. ... more

Data queries house price fall
Figures released by the government claim house prices have fallen by far less than many other surveys have suggested. According to many lenders, house prices have tumbled by 11% since their peak in August 2007 with some predicting overall drops of 30% in the current economic downturn. ... more

Jobless figure up by 81,000
UK unemployment figures rose again in the three months between May and June, taking the number out of work to 1.72m. Figures from the Office for National Statistics revealed an extra 81,000 people became unemployed during that time, with the number claiming jobseeker’s allowance also rising by 32,500 to 904,900. ... more

Inflation hits new record high
UK inflation rose to 4.7% in August, the highest level since records began in 1997, figures from the Office for National Statistics revealed. Rising energy, fuel and food bills all contributed to the increase in inflation, which was up from 4.4% in July. ... more

Tour firm in administration
The XL Leisure Group has become the second travel company in recent weeks to enter administration. All of XL's planes have been grounded, leaving tens of thousands of passengers stranded abroad. "We've made every effort, myself and my fellow directors, to find new funding for the business," commented chairman Phil Wyatt. A statement on the firm's website blamed the company's administratio... more

Third Heathrow runway wins backing
A collection of businesses has backed plans for a third runway to be built at Heathrow on condition it meets strict environmental standards. The group, which contains the British Chambers of Commerce, argued the runway was essential for the UK to continue to offer direct access to economic strongholds such as China and India. ... more