Business News Articles

SME inflation twice official figure
The average annual rate of inflation for small businesses is almost double the official figure, according to research from Warwick Business School. The study found inflation for small businesses stood at an average of 9.9%, almost twice the 4.7% reported in the Consumer Prices Index by the Office for National Statistics. ... more

Mobile banking a step closer
Customers of Lloyds TSB will be able to use mobile phones to manage their finances and transfer funds from one account to another from October. The software, produced by mobile money network Monilink, has been available for some time but many providers have had concerns over the security of information. ... more

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