Business News Articles

Number of new cars produced declines for fifth successive month
The number of new cars produced in the UK declined 59% in February - the fifth consecutive month of decline. The Society of Motor Manufacturers and Traders (SMMT) said car production totalled just 59,777 last month. "The large fall in February's vehicle production is a direct result of weak demand," said SMMT chief executive Paul Everitt. Carmakers have been lobbying the government for suppo... more

Money lost to online banking fraud more than doubles in 2008
Small business are being warned to check their online banking accounts, as recent figure released from UK payments association Apacs revealed that the amount lost to online fraud more than doubled in 2008. Online banking fraud increased to £52m last year, up from £22m in 2007 and total fraud losses on UK credit and debit cards rose by 15% to over £600m. Fraudsters have been using a device... more

BAA ordered by regulator to sell three airports
BAA has been ordered to sell Gatwick and Stansted and either Edinburgh or Glasgow airports by the Competition Commission after a two-year investigation. The Commission looked into BBA's dominance over the UK market - the company currently owns seven airports - and has given BAA two years to sell off the airports. The airports must also be sold in sequence, starting with Gatwick, then Stanste... more

Internet ‘most important tool to help small firms survive recession’
One in five small and medium-sized companies believe that the internet will be the most important tool in helping them beat the recession, according to research conducted by Easynet Connect. The survey of 225 SME IT managers also revealed that 74% of small businesses use the web to grow their company profile and over 50% believe that the web would put them on a level playing field with bigger c... more

UK unemployment reaches over 2m for first time in over a decade
UK unemployment has risen over 2m for the first time since 1997, according to figures released from the Office for National Statistics. During the three months to January the total number of people unemployed stood at 2.03m, an increase of 165,000 from the previous quarter. In February the number of people claiming jobseeker's allowance increased by over 138,000 to reach just under 1.4m. A r... more

Npower to cut electricity bills by 8%
Energy supplier Npower has announced that it is cutting electricity bills by 8%, meaning that all the major energy companies have now cut their prices. Npower became the last of the six major energy suppliers to reduce its charges, which it claims will shave £43 of its customers average electricity bills. Scottish & Southern will cut the price of electricity by 9% and gas by 4% from 30 Marc... more

Almost 50% of staff resignations due to poor management
Almost 50% of staff that resign from their jobs do so because they disagree with their company's management style, according to a poll by BT Business. Research carried out by BT shows that 42% of employees left their last jobs because they felt that their managers used outdated management methods and that they were constantly supervised. 25% of respondents stated that the use of management s... more

Online sales increase 13%
Online sales in the UK increased by 13% in February, according to research conducted by online retail research group IMRG Capgemini. The online sector is one of the best performing in the UK economy and has been growing rapidly over the last few years - highlighting the importance for small businesses to establish an online presence. Although online sales actually declined in February from t... more

Airlines not offering adequate compensation for mishandled bags
Over 42m bags were lost in UK airports in 2007 and passengers are often only awarded compensation of less than a tenth of the value of their possessions, according to consumer watchdog Air Transport Users Council (AUC). The number of bags lost increased from an estimated 34m in 2006, and since a change in passengers' rights several years ago airlines are liable to pay up to £1,049 in compensat... more

Banks raise minimum deposit levels by thousands of pounds
Several banks in the UK are only offering high interest high-street savings accounts to customers that deposit tens of thousands of pounds. Abbey, Alliance & Leicester and Bradford & Bingley recently launched a two-year bond that pays out at 4% but is only available to customers who invest at least £30,000. Allied Irish Bank and Investec are offering accounts that pay 0.5% on money held but... more