Business News Articles

Key measure of inflation rises to 1.9%
The Consumer Prices Index (CPI) - a key measure of inflation - has risen to 1.9%, according to the Office for National Statistics (ONS). This is an increase on October's figure of 1.5% and means that November's rate is the highest since May this year. The inflation rate is forecast to rise further next year when the VAT discount ends. CPI is the measure of the average price of consumer goods... more

BA strike to affect 1m customers
British Airways cabin crew will stage a 12-day strike over Christmas from December 22 to January the 2nd, causing travel chaos for up to one million passengers. More than nine out of ten union members balloted backed the strike action. It is estimated that the strikes will cost BA around £50m a day, or as much as £300m for the full 12 days. The strike is over jobs, pay and working conditio... more

House prices rise fourth month in a row
House prices rose for the fourth month in succession driven by a relative shortage of properties for sale, according to the Royal Institution of Chartered Surveyors (Rics). The last Rics survey revealed that the number of surveyors reporting price rises outstripped those reporting falls, with a positive balance of 35. The results are the strongest reading since November 2006 and the positive tr... more

Firms at risk of litigation
Accountancy firm BDO has warned small business owners that cost-cutting measures to reduce staff overheads have increased the risk of companies being drawn into litigation. Research by BDO has revealed that 50% of firms have sought to reduce their costs by increasing their use of subcontractors and freelancers and outsourcing activities such as support services or relocating facilities. "The... more

Jobs market proving ‘resilient’
The jobs market in the UK has turned out to be stronger than expected given the scale of the recession, according to Bank of England chief economist Spencer Dale. Despite the country experiencing the deepest recession for over 50 years and unemployment standing at 2.4 million, it is unlikely to top three million, as many economists had predicted. "A marked feature of the response of our econ... more

New business makes Christmas easier
A revolutionary new way to send and receive gifts which utilises the latest in technology has recently been launched in the UK. BoonSpace allows users to compose a personal multimedia showcase with cards, photos, video, and audio and select a perfect virtual present and gift box. As this new business does not use the post, it is not reliant on the postal service and gifts are guaranteed to a... more

Retail sales in London up 13%
Retail sales in London were 13% higher in November than the same month last year, according to data released by the British Retail Consortium (BRC). "These are great figures and show that London retailers have enjoyed a very encouraging start to Christmas,"| said Stephen Robertson, director general of the BRC. The BRC have said that unseasonably mild weather, together with several special sa... more

Good staff opinion of firm can drive sales
Small business owners have been warned that employee perception of their company is even more important than what customers think, according to new research by Manchester Business School. The business school found that that firms experience an 18% increase in sales by raising employee opinions above customers'. However, businesses were warned that it is still vital to meet customer expectations... more

60% of firms affected by IT failures
A third of UK businesses have had to stop working in the last six months because of IT failures, according to a survey of over 1,000 employers by data resilience solutions firm, Adam Continuity. The survey also revealed that almost two thirds of employees would not know what to do in the event of an incident as they have not been informed of their company's data continuity plans. "Data failu... more

Mortgage lending hits 22-month high
The number of mortgages granted to house buyers in the UK reached the highest level for just under two years in October, according to data released by the Council of Mortgage Lenders (CML). The CML have reported that 55,300 mortgages were granted to buyers in October. This is an increase of 9% from September and up 43% from October last year. "It appears that low interest rates for those wit... more