Business News Articles

Business confidence rises
Business confidence has risen to its highest point for two years among financial chiefs, according to a survey by financial services firm Deloitte. The survey revealed that financial bosses at some the UK's largest firms have seen their confidence increase but the economy is still causing worries, with 48% citing this as their biggest concern in 2010 as they expect any recovery to be weak. "... more

Consumers face VAT confusion
Consumers are facing the last day of the lower rate of VAT, although many retailers have said that they will not increase prices on January the 1st. VAT is due to return to 17.5% at the start of the new year, after the government reduced it to 15% in December 2008 in a bid to boost consumer spending. Supermarket giants Tesco, Sainsbury's and Asda have said that they will delay passing on the... more

SMEs 'wasting £3bn a year'
Small and medium-sized businesses have been warned that they could lose up to £3bn next year as a result of inefficient equipment and energy wasteage, according to data released by The Carbon Trust. The Carbon Trust’s research showed that out-of-date machinery was the number one reason for small businesses wasting needless energy. All small business owners have been urged to ensure that their... more

FSB: turn Post Offices into Post Banks
Small businesses will be at the centre of the UK’s economic recovery, but only if new conduits for lending are established, according to John Wright, the chairman of the Federation of Small Businesses (FSB). Mr Wright has said that increased bank competition would free up lending to small firms and has called on the government to back council-run banks, following the Bank of Essex model and for... more

House prices rise 0.9%
House prices in England and Wales have increased for the sixth month in succession, according to data released by the Land Registry. Prices rose by 0.9% last month, meaning that house prices are now just 0.3% lower than at the same time last year. The average home in the UK now costs £161,554 - £8,800 higher than at its recent low point in April. "Price drops in many regions of the UK ... more

Injunction stops British Airways strike
The proposed strike by British Airways cabin crew planned for Christmas has been declared illegal in a High Court ruling. The judge, Mrs Justice Cox, ruled that the BA cabin crew's union, Unite, had not correctly balloted its members on the strike action. The injunction means that the 12-day strike cannot go ahead which will be welcome relief for around one million passengers who will now b... more

Eurostar staff to strike Dec 18 and 19
A strike affecting cross-Channel trains will take place on Friday the 18th and Saturday the 19th of December after negotiations between unions and Eurostar's management broke down. The 48-hour strike will affect services from London St Pancras, Ashford and Ebbsfleet to France and Belgian. About 70 drivers and 20 on-board staff have said they will walk out over a pay dispute. The union have p... more

Apprentices can boost businesses
Businesses that hire apprentices can recoup their investment in as little as 18 months, according to the National Apprenticeship Service. Over 230,000 people in the UK began an apprenticeship in 2009, an increase of 34% from 2006. Small businesses are becoming increasing aware of the benefits of taking on apprentices, especially in the difficult economic climate. "Apprentices provide a real ... more

Unemployment rises to 2.49m
The number of people unemployed in the UK has risen by 21,000 to reach 2.49m, according to figures released by the Office for National Statistics (ONS). The unemployment rate in the UK now stands at 7.9%, although the increase between August and October is the smallest rise in the jobless total since March to May in 2008. The number of people claiming unemployment benefit fell by 6,300 in No... more

Staff making pay sacrifices
More than 50% of workers have made sacrifices to protect jobs this year, ranging from pay freezes to unpaid overtime, according to data released by insolvency firm R3. The research revealed that 28% of staff have worked longer hours for no extra pay, 15% have accepted a pay freeze and 7% have taken a pay cut. Some workers said they had not asked for a pay rise specifically because of the rec... more