Business News Articles

Winding-up orders down in 2007
The number of companies applying to be wound up fell by 3% in 2007, according to figures released by the Ministry of Justice. A total of 11,791 ceased trading due to insolvency or other problems in England and Wales last year but many analysts expect that to rise as the credit crunch bites in 2008. ... more

Northern Rock enters state hands
The government has announced plans to nationalise the stricken bank Northern Rock after rejecting two offers to keep the institution in private hands. Chancellor Alistair Darling made the decision to nationalise the bank after deciding that the private sector offers – including one from Sir Richard Branson’s Virgin group – did not represent the best value for taxpayers. ... more

Unemployment and earnings fall
Unemployment in the UK fell by 61,000 in the last quarter of 2007 with the number of people claiming jobseeker’s allowance also falling. The Office for National Statistics revealed that total unemployment fell to 1.61m with the number claiming jobseeker’s allowance reducing by 10,800 to 794,600. ... more

BCC hosts travel plan seminars
The British Chambers of Commerce (BCC) is running a series of seminars to increase companies' awareness of developing travel plans that can help reduce carbon emissions. The organisation is working in association with the Department for Transport's National Business Travel Network to deliver six events across the UK that will promote the need for businesses to develop sustainable travel plans. ... more

Call for business continuity unit
A business continuity show is urging the government to set up a designated department to coordinate planning for disasters. Business Continuity Expo, with backing from the Business Continuity Institute, has set up a petition on the 10 Downing Street website to urge the prime minister to set up “a designated lead department within central government to coordinate, initiate and oversee busines... more

Inflation and retail sales up
UK inflation rose from 2.1% to 2.2% in January with rising transport costs mostly to blame, figures from the Office for National Statistics have revealed. The retail price index, which includes mortgage payments, also rose, from 4.0% to 4.1%. ... more

Insolvencies expected to rise
The number of companies going out of business fell by 7% in 2007 compared to the previous year, according to figures released by Deloitte. But the organisation believes the impact of the credit crunch is only just beginning to filter through to companies and expects the number of insolvencies to rise in 2008. ... more

Garden firm’s top franchisee
Northampton businessman Richard Baker has won the franchise owner of the year award by garden maintenance business Jim's Mowing. Baker started his Jim's Mowing franchise in April 2006, after giving up his previous life as a farm labourer. He now looks after 60 regular clients in the Harpole area on a weekly or fortnightly basis. ... more

Speeding most common offence
Speeding is by far the most common driving offence committed by company car drivers, according to figures released by GE Capital Solutions Fleet Services. The organisation revealed that 41% of the fines drivers have accrued using its 55,000-strong fleet were for speeding, compared to 22% for failing to pay congestion charges, 20% for parking offences and 4% for illegally using a bus lane. ... more

Interest rates cuts to 5.25%
The Bank of England has cut interest rates to 5.25% in an attempt to stave off the threat of recession. The move, which had been widely expected by analysts, means the Bank has now reduced rates twice in three months in a bid to revive consumer spending and boost the ailing housing market. ... more