Business News Articles

UK house prices still falling
The UK housing market is continuing to slow down with prices falling by 0.8% in November, according to figures from the Department of Communities and Local Government (DCLG). The fall in prices brought the annual rate of house price inflation down from 11.3% to 9.5%, with the three-month figure slipping from 11.1% to 10.5%. ... more

Inflation stats boost rate cut hopes
UK inflation remained unchanged at 2.1% in December despite rising food and fuel prices, figures from the Office for National Statistics have revealed. The move will be welcome news for the Bank of England, which has been concerned that inflation could rise still further above its target rate of 2.0%, and makes an interest rate cut next month more likely. ... more

Profit warnings at six-year high
The number of profit warnings issued by UK-listed firms is at a six-year high as fears grow that the UK could be heading for recession. Research by Ernst & Young revealed that there were nearly 400 such warnings in 2007, a 10% rise on the previous year. ... more

Call to ban interests from CVs
Employers have little or no interest in job candidates' interests outside work and would like that information removed from CVs. That's the message from recruitment consultancy Unity Personnel, which claims 67% of employers no longer wish to see such details. ... more

Sir John Harvey-Jones dies at 83
The entrepreneur Sir John Harvey-Jones has died at the age of 83 after a long illness. Harvey-Jones was chairman of chemical firm ICI but shot to wider fame with his role on the 1990s BBC television show Troubleshooter, in which he helped struggling businesses turn their fortunes around.... more

Bank keeps interest rates at 5.5%
The Bank of England has resisted pressure from retailers and business groups to cut interest rates and has kept them on hold at 5.5%. The Bank's monetary policy committee is concerned over spiralling inflation, with utility, food and commodity prices all going up in recent months. ... more

Worst Christmas for three years
British high street retailers endured their worst festive period for three years, as consumers reigned in spending in the wake of the global credit crunch. Figures from the British Retail Consortium revealed overall sales rose 2.5% in December compared to last year but said companies on the high street suffered the leanest Christmas since 2004, with more money being spent online. ... more

More final-salary plans to shut
More final-salary pension schemes will close in the next five years, the National Association of Pension Funds (NAPF) has warned. According to a survey of 369 private-sector pension schemes, just 31% of existing final-salary plans remain open to new members with 15% of these expecting to change this policy in the next five years. ... more

Small firms ‘becoming more green’
The Federation of Small Businesses has reacted angrily to the Carbon Trust's claim that small businesses are not doing enough to help the environment. A report by the small business lobby group claims that 92% of small businesses are socially and environmentally responsible and 83% already engage in waste minimisation and recycling initiatives.... more

Average pay rise now 4%
The average pay rise in the private sector is now 4% a year, according to data released by Incomes Data Services. The organisation claims the rise is due to an increase in the Retail Price Inflation index, which increased from 4.2% to 4.3% in November, and warned that the trend risked a higher rate of inflation ... more