Business News Articles

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

Funding to tackle work disputes
The government has announced plans to invest an extra £37m in preventing workplace disputes reaching industrial tribunals. The scheme, announced by employment minister Pat McFadden, will allow the government’s conciliation service ACAS to offer assistance at any point of a dispute and improve its telephone helpline service. ... more

Surprise growth in service sector
The UK service sector revealed stronger than expected growth in January, raising hopes that the economic slowdown may not be as severe as first thought. According to the Chartered Institute of Purchasing and Supply, the sector's activity index rose to 52.5 in January, a slight increase from 52.4 in December. Anything above 50 is considered to represent a growing sector. ... more

Tax avoidance 'costs £25bn'
HMRC lost out on £25bn last year due to tax avoidance techniques used by wealthy individuals and businesses, according to the TUC. The trade union body's figures suggest individuals were able to avoid paying £13bn totally legally, while companies avoided £12bn. ... more

Warning over IP data theft
Staff are the biggest threat to a company's IT security, according to a study by the Information Systems Security Association (ISSA). The research, conducted with 600 ISSA members, found that 74% of respondents felt employees were a higher than average threat, with 64% saying supervisory level personnel were often deemed ‘untouchable'. ... more

Firms ignoring workplace health
British businesses are aware of the impact workplace health can have on staff performance but remain reluctant to invest in wellbeing initiatives, according to a report. The study by Norwich Union found that 64% of companies agreed that employee wellbeing had a direct impact on the productivity levels of their workforce. ... more

Demand for franchising grows
More entrepreneurs are attracted to the idea of franchising at the start of a new year, according to Domino’s Pizza. The organisation reports it saw a 19% increase in franchise enquiries in January 2008 compared to December 2007, and a 15% rise on January 2007. ... more

Fraud levels hit 12-year high
Fraud in the UK is at a 12-year high, a study by accountancy firm KPMG claims. According to the body’s anti-fraud team, the total value of cases going to court last year topped £1bn, with the majority of that (£833m) targeted against the government. ... more

New mortgage approvals fall
The number of new mortgages approved fell for the seventh month in a row during December 2007, the Bank of England has revealed. According to the Bank, 73,000 new mortgages were approved by banks in December compared to 81,000 in November. Mortgage approvals for people remortgaging rose slightly to 97,000. ... more