Business News Articles

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

Record fall in commercial property
Commercial property investments saw a record fall in the final quarter of 2007, according to figures released by the IPD. Its UK Quarterly Property Index revealed an 8.7% fall as investors looked to reduce their exposure to the sector in the wake of the credit crunch. ... more

UK 'is heading for recession'
The UK economy could be heading for recession over the next two years, according to a downbeat report. The Deloitte Economic Review warned that the economy was likely to experience its weakest period of growth in 15 years, with the credit crunch making it more difficult to secure borrowing. ... more