Business News Articles

Workers face pay freeze in 2010
Workers face a second year of pay freezes despite the UK emerging from recession and rising inflation, according to data released by the Labour Research Department (LRD). The report has said that a third of all pay deals now included a pay freeze - the largest proportion since the recession began. The Retail Price Index (RPI) measure of inflation, which is commonly used in pay negotiations, ... more

Business confidence increases
The UK's slow economic recovery has not dampened the spirits of entrepreneurs, with 59% feeling confident about opportunities for their business within the next three months, according to a survey by RSM Tenon. The survey also reveals that 39% of company owners say they will expand their business this year and only 10% expect to have to cut back operations. The number of firms that plan to h... more

Personal insolvencies hit record high
The amount of people declared insolvent in the UK hit a record high in the last quarter of 2009 and during the year in full, according to data released by the Insolvency Service. Figures revealed that 35,574 people were declared insolvent in the last three months of the year - a rise of 25% on the same period a year earlier. Over 2009 as a whole, there were 134,142 people declared insolvent ... more

Cash boost for firms taking on apprentices
Businesses that take up the government's Apprentice Grant for Employers (AGE) scheme can receive a £2,500 grant for each 16 or 17-year-old apprentice taken on. The government have recently launched National Apprenticeship Week, celebrating the commitment of employers to recruit apprentices and urging people to look at the benefits to their skills and career of becoming an apprentice. "For s... more

Interest rates held again at 0.5%
The Bank of England has announced that interest rates have been held again at the record low of 0.5% for the 11th consecutive month. The Bank has also announced that it has decided against extending its quantitative easing programme (QE). Under QE, the Bank has pumped new money into the economy by buying assets such as government bonds, as a way to boost lending by commercial banks. It was a... more

Jobs market is ‘recovering’
The job market in the UK is showing further signs of improvements, according to the latest 'Report on Jobs' from KPMG and the Recruitment and Employment Confederation. The report showed that permanent staff placements increased for the sixth month running during January. Although weaker than December's peak, the rate of growth remained marked. Temporary staff billings also rose strongly, with t... more

Car sales rise 30%
Car sales rose by 29.8% in January compared with the same month last year, according to figures released by the Society of Motor Manufacturers and Traders (SMMT). There were 145,479 cars registered last month as the government's car scrappage scheme continues to have a positive impact on the industry. The scheme, which pays motorists £2,000 to trade in an old car for a new one, accounted fo... more

SMEs 'confused' by energy contracts
Small firms need more help with their energy contracts as many are confused over new rules brought in by Ofgem, according to business price comparison service Make It Cheaper. Different interpretations of the new rules - which give small businesses the right to opt out of seeing their contract be rolled-over by energy companies - by the main business energy suppliers means no two contract termi... more

House prices increase 0.6%
House prices rose by 0.6% in January, meaning that prices have increased for seven months in succession, according to data released by the Halifax. The average UK home is now valued at 3.6% higher in January than a year earlier, at £169,777. "The marked reduction in interest rates over the past 15 months has, from a low base, boosted housing demand from those with a sufficient deposit to en... more

£700m lending boost for small companies
Small and medium-sized businesses have secured more than £700m in loans from the European Investment Bank (EIB), according to data released by the government. The Treasury has confirmed that over £700m of 'affordable and easy to access funding' from the EIB had been approved for nearly 3,000 small businesses in the UK, through participating national banks. So far, a total of £1.39bn has b... more