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Fear of company pension closures
Many smaller employers currently operating final salary pension schemes are likely to shut them down and rely on the government’s proposed national pension plan, the Association of Consulting Actuaries has warned... more

UK ‘faces a tough year ahead’
UK businesses face a tough year in 2008 due to the global credit crunch and rising food and energy prices, the Confederation of British Industry has warned. The group's director general, Richard Lambert, also claimed central banks would be restricted in their ability to reduce interest rates by the threat of inflation caused by high food and energy costs... more

Rail price rises come into force
Rail fares across the UK have increased, with regulated tickets going up by an average of 4.8% and unregulated fares rising by as much as 11%. Train operators have defended the increases, saying the money is necessary to fund improvements to the rail network, but passenger groups have attacked the above-inflation hikes ... more

Scrooge voted world’s worst boss
The world's worst boss has been named as the Dickens character Ebenezer Scrooge in a survey of small business employees by Employment Law Advisory Services (ELAS). One-third (33%) nominated the character from A Christmas Carol as the worst employer, with Meryl Streep's portrayal of New York fashion editor Miranda Priestly in The Devil Wears Prada coming second. Star Wars villain Darth Vadar cam... more

Retailers fear spending freeze
Retail sales in the UK rose at their slowest pace for more than a year in December, providing further evidence that the economy is suffering from the impact of the global credit crunch. The Confederation of British Industry survey revealed that retail sales slowed to their lowest point since November 2006 and revealed that many retailers fear high street sales could fall further in 2008. ... more

Bank cash boost for economy
The Bank of England has lent financial institutions £10bn in a bid to revive the flagging UK economy. The move is designed to encourage banks to begin lending to each other again at a reasonable rate, after their reluctance to do so following the US sub-prime mortgage fallout sparked a credit crunch in the UK. ... more

Deal for failed pension schemes
The government has announced a £2.9bn rescue package for workers who lost their pensions when their employers went bankrupt. Under the scheme announced by work and pensions secretary Peter Hain, the 141,000 workers will receive 90% of the value of their funds, giving them equality with employees who are covered by the Pension Protection Fund. ... more

Government postal service review
The government has launched a review of the UK's postal service to assess the impact increased competition has had on the Royal Mail. The organisation's monopoly came to an end at the start of 2006 when the market was opened to other operators and the group has been further damaged by recent strike action. ... more

UK inflation stays at 2.1%
UK inflation remained at 2.1% in November despite the impact of rising fuel and food prices, figures from the Office of National Statistics. Despite soaring petrol costs, gas and electricity bills have fallen by 5.6% over the past year since record prices in 2006 and this has helped to keep inflation in check. ... more

Small firms forecast tough times
Small firms are less confident about their business prospects now than three months ago, according to the Bank of Scotland's confidence index. The survey revealed that 33% of small business owners said it was a good time to own a small company in the UK, compared to 38% who thought the opposite was the case. ... more


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