Business News Articles

Job vacancies drop at sharpest level for over a decade
Job vacancies declined last month at the fastest rate in 11 years as employers cut or freeze staff due to the recession, according to a poll by consultants KPMG. "The UK jobs market is continuing its downward spiral, with placements falling for the 11th month in succession and vacancies down across most sections," said Mike Stevens, head of business services at KPMG. Starting salaries for ne... more

European Union to cut trademark costs by 40%
Small and medium-sized companies are expected to be the biggest beneficiaries following an announcement that the cost of obtaining trademark protection in European countries will be reduced by around 40% from May this year. The European Union has announced that it will cut the official application and registration costs in up to three classes from €1,600 to €1,000. In making the announce... more

Age discrimination claims rise over 25% as jobs are cut in recession
Age discrimination claims have risen by 27% in the last 12 months as the recession leads to more staff cut-backs, according to research by law firm Eversheads. The European Court of Justice (ECJ) is due to decide on a landmark case this week whether the British government's decision to allow employers to force staff to retire at 65 breaches their human rights. Hundreds of age tribunal claims... more

Insurance firm AIG report record quarterly loss
Insurance firm AIG have reported a loss of £43bn in the final three months of last year - the largest ever-quarterly loss in corporate history. AIG has so far received $150bn in financial support from the US Government and the troubled insurer will receive another $30bn to tide it over. The Federal Reserve and the Treasury have said that they have bailed out AIG as it poses a genuine risk t... more

Almost a quarter of Britons want to start their own business
Nearly a quarter of Britons surveyed have ambitions to start their own business, with the most popular choice of new company start-up being an internet-based business, according to a poll of over 2,000 adults by YouGov. Despite the current recession the general public still have ambitions to go into business themselves, with 23% of those surveyed wanting to set-up a new company, with this figur... more

Wage subsidy fund would ‘help to save jobs’
A wage subsidy fund would reduce the amount of staff that small and medium-sized businesses cut back on, according to the Trade Union Congress (TUC) and the Federation of Small Businesses (FSB). The TUC and FSB have called on the government to subsidise up to 60% of a worker's wage by a combination of a specially set up fund and the job seekers allowance. With unemployment figures in the UK ... more

£10bn Government business lending scheme delayed
The government's £10bn business lending guarantee scheme is weeks behind schedule and it is unclear when small and medium-sized businesses will be able to apply to receive finance from the scheme. The £10bn scheme was at the heart of a range of measures introduced by business secretary Lord Mandelson in January designed to get financial institutions lending money again. The lending guarant... more

Health and Safety Executive looks to simplify small firm regulations
The Health and Safety Executive (HSE) is consulting small firms as it considers new strategies to ensure that complying with health and safety regulations is easier for small businesses. The HSE has stated that it wishes to ensure that all SMEs meet their legal obligations "in a manner proportionate to the risks posed by their work activities". "The HSE is clearly acknowledging that small bu... more

UK online sales to grow ‘6% a year’
UK online sales will actually increase during the recession at a rate of 6% a year, according to research by e-commerce consultancy firm Forrester. Despite the current economic downturn, the research predicts that online sales will continue to rise as an increasing number of customers move away from the high street. "The recession will hit online sales less hard than other channels as people... more

House prices drop 15% in a year
The price of an average home in the UK declined 15% in a year, according to a new survey by Nationwide. In February house prices fell by an average of 1.8%, the 17th month in a row that average prices have fallen, following 21 successive months of price rises. This latest decline takes the average price of a house in the UK to below £150,000 for the first time since May 2004 and means that ... more