Business News Articles

Mortgage lending at 16-year low
The number of mortgages awarded for houses has dropped to its lowest level since September 1992, figures from the Council of Mortgage Lenders (CML) show. The body’s figures revealed there were just 49,000 mortgages granted in February and loans of house purchases made up only 30% of all mortgage-lending. ... more

BCC urges action on crime
A leading business group has urged the government to make more of an effort in cutting crime against businesses. A survey by the British Chambers of Commerce (BCC) claims crime costs companies £12.6bn every year and revealed that 59% of businesses had suffered at least one criminal incident in the last 12 months. ... more

Body criticises eco-fuel policy
The Forum of Private Businesses has criticised the government’s decision to replace an incentive to use eco-friendly fuels with regulation. The government announced in the 2008 Budget that it would stop the 20p a litre reduction for firms that invest in bioethanol and biodiesel in Spring 2010 and replace it with the Renewable Transport Fuels Obligation, which specified that by 2010 at least ... more

Rise in UK bankruptcies
The amount of UK companies going out of business rose by 8.5% in the first three months of 2008, according to credit-rating agency Experian. The organisation revealed 4,798 businesses ceased trading as the credit crunch started to spread beyond the financial sector. ... more

Manslaughter bill becomes law
The corporate manslaughter law – which will make it easier for company directors to be prosecuted for deaths caused through their negligence – has now become law. Under the new rules, prosecutors will only need to prove that senior management played a role in the person’s death rather than having to demonstrate that a single person was responsible. ... more

Most households to cut spend
Most households will reduce the amount they spend this year as mortgage payments rise and the credit crunch worsens. The poll by Axa Insurance revealed that 70% intended to reduce their outgoings, with 37% saying they would eat out less, 19% cutting back on socialising and 8% planning to skimp on their insurance cover. ... more

FPB warning on TV licences
The Forum of Private Business is reminding small businesses that allow employees to watch TV on their premises that they need a TV licence to comply with the law. It is also illegal for companies to view or record programmes on work computers without a licence, although they may play DVDs, videos or security footage. ... more

HMRC hitting tax evaders
HM Revenue and Customs (HMRC) has improved its record of clamping down on tax evaders, according to a report by the National Audit Office (NAO). The recent campaign against taxpayers who hid income in offshore accounts resulted in an extra £400m in tax, interest and penalties, the report claimed, meaning that for every £1 HMRC spends in this area it now brings in £1.40. ... more

Firms ‘need trained first-aiders’
The British Red Cross is warning companies that do not have a trained first-aider on their books that they could face legal action in the event of a death. Businesses are currently required by the Health and Safety Executive to provide adequate equipment, facilities and personnel to enable first aid to be given to workers who suffer an injury at work. ... more

Manufacturing prices still rising
The price of goods used in manufacturing products rose at their fastest rate since 1999 in March as a result of higher energy and raw material costs, a survey has revealed. The Chartered Institute of Purchasing and Supply’s input price index rose to 76.3 in March from 72.7, taking the rate of inflation to its highest point since 1995. ... more