Business News Articles

CBI predicts two-year slump
The Confederation of British Industry (CBI) has predicted slower economic growth for the next two years in the wake of the global credit crunch. The employers’ body forecast the economy would grow by 1.8% this year and 1.7% in 2009, making the chancellor’s prediction of between 1.75% and 2.25% for the next 12 months look optimistic. ... more

UK inflation hits 2.5%
Consumer inflation in the UK hit its highest level in nine months but only because of a new way of calculating energy bills, according to the Office for National Statistics. The Consumer Prices Index reached 2.5% on a year-by-year basis, taking it well above the government’s target of 2.0%. ... more

Heathrow welcomes Airbus A380
The Airbus A380 has made its first commercial flight in Europe, landing at Heathrow airport from Singapore. The Airbus is currently operated by Singapore Airlines, which has three in service and 16 more on order, and features a new double-decker design capable of holding 470 people. ... more

Shock rise in high street sales
Retail sales saw strong growth in the UK in February, rising 1% from January’s figure and 5.5% from February 2007, the Office for National Statistics has revealed. The increase in spending has been partly due to an increase in food sales and has surprised many analysts who were predicting spending would fall from the levels seen in January. ... more

Unemployment falls by 32,000
British unemployment fell by 32,000 in the three months to the end of January, according to figure from the Office for National Statistics. The total number of people out of work now stands at 1.61m, while the amount claiming jobseeker’s allowance feel by 2,800 in February. ... more

Switch off over Easter
British businesses are being urged to implement basic energy-saving initiatives over the Easter break after research found that 21% have no plans to reduce the amount of wasted energy while the office is closed. A study by MWB Business Exchange found that 83% of office workers thought their company would fail to turn off all electrical devices, 65% thought the heating would be left on despite ... more

Entrepreneurs ‘learn on the job’
The vast majority of entrepreneurs (93%) believe learning from their own experience is the best way of developing their business skills, according to research by SFEDI. The study found that self-learning and picking up tips from other business owners (49%) were far more common that business coaching, which was used by just 12%. ... more

Absence: firms must do more
Businesses should do more to tackle the amount of time staff take off work sick, which costs the UK economy £100bn a year, according to a report by a government adviser. Dame Carol Black’s report called for employers to do more to promote workplace health by promoting a healthy lifestyle and offering subsidised gym membership schemes and access to occupational health systems. ... more

Bosses warned on staff cars
Businesses that allow staff to use their own cars for work purposes could soon face a corporate manslaughter charge if that vehicle is illegal, a fleet consultant has warned. A survey by FleetConsult found that many employers allowed staff to drive in vehicles that were unroadworthy or not insured for business use. ... more

Terminal 5 officially opened
Heathrow’s new Terminal 5 has been officially opened by the Queen, marking the beginning of the end of a construction project that began in September 2002. The terminal will open for business on March 27th and will provide extra passenger capacity for travellers, although the amount of flights coming in and out of the airport will not increase. ... more