Business News Articles

One in three expects tough times
One third of Brits expect their financial position to worsen over the next 12 months as the impact of the credit crunch begins to take hold. A survey by Harris Interactive and the Financial Times found that the crisis had so far had no impact on the lives of 44% of respondents but 36% are pessimistic about how it will affect their finances over the coming year. ... more

Employment hits record high
UK unemployment fell by 39,000 in the three-month period to February, figures from the Office for National Statistics have revealed. According to the figures, unemployment now stands at 1.61m, while total employment has reached 29.5m, the highest level since records began in 1971. ... more

Directors heading out of London
Company directors are abandoning London and the south-east in favour of the rest of the country, according to research from KDB. The survey suggests that while London still retains the biggest percentage of company directors compared with the rest of the country (10.4% against an average of 5.9%), the trend from 2004 to 2007 was to move away from the capital. ... more

Disabled firms find it tough
Disabled entrepreneurs are finding it harder to do business now than they were just two or three years ago, according to research by Business Link in London. The survey found the biggest problem was other people’s attitudes and stereotypes, cited by 63%, followed by a perceived lack of support and training (59%) and personal discrimination (54%). ... more

Banks told to pass on rate cuts
Banks must pass on interest rate cuts from the Bank of England to their customers to play their part in preventing the UK falling into recession, chancellor Alistair Darling has warned. The Bank of England’s monetary policy committee has cut interest rates three times in five months but many banks have actually raised the rate at which they lend money to customers, effectively depriving the ... more

Small firms get downturn tips
Small business owners will be able to get help and advice on how to beat the credit crunch at a week of events organised by the National Federation of Enterprise Agencies. The group is hosting a series of seminars, workshops and surgeries designed to give small business owners tips on beating the slowdown between 28 April and 2 May. Individual financial advice will also be available. ... more

Profit warnings highest since 2001
The UK is experiencing its highest level of profit warnings since the end of the dotcom boom in 2001, according to figures from Ernst & Young. The accountancy firm revealed there were 114 profit warnings in the first three months of 2008, a rise of 11% on the same period last year and the highest level for a first quarter in seven years. ... more

New self-assessment tax return
HMRC has unveiled a new tax return form for self-assessment tax-payers, which it claims is easier for people to complete, following a two-year pilot with 70,000 people. According to the body, the form has fewer questions, simpler language and an improved layout and is the first major revamp since 1997. ... more

Interest rates cut to 5%
The Bank of England has cut interest rates to 5% in a bid to bolster an increasingly fragile economy. The move is designed in part to boost the housing market, which saw the biggest fall in prices since September 1992 in March. ... more

Manufacturing factory output rises
UK factory output rose at its strongest annual rate in more than a year in March, suggesting the manufacturing industry has yet to be adversely affected by the global credit crunch. Figures from the Office for National Statistics revealed that manufacturing output rose by 0.4%. Analysts had predicted a rise of 0.1%. ... more