Business News Articles

Sir John Harvey-Jones dies at 83
The entrepreneur Sir John Harvey-Jones has died at the age of 83 after a long illness. Harvey-Jones was chairman of chemical firm ICI but shot to wider fame with his role on the 1990s BBC television show Troubleshooter, in which he helped struggling businesses turn their fortunes around.... more

Bank keeps interest rates at 5.5%
The Bank of England has resisted pressure from retailers and business groups to cut interest rates and has kept them on hold at 5.5%. The Bank's monetary policy committee is concerned over spiralling inflation, with utility, food and commodity prices all going up in recent months. ... more

Worst Christmas for three years
British high street retailers endured their worst festive period for three years, as consumers reigned in spending in the wake of the global credit crunch. Figures from the British Retail Consortium revealed overall sales rose 2.5% in December compared to last year but said companies on the high street suffered the leanest Christmas since 2004, with more money being spent online. ... more

More final-salary plans to shut
More final-salary pension schemes will close in the next five years, the National Association of Pension Funds (NAPF) has warned. According to a survey of 369 private-sector pension schemes, just 31% of existing final-salary plans remain open to new members with 15% of these expecting to change this policy in the next five years. ... more

Small firms ‘becoming more green’
The Federation of Small Businesses has reacted angrily to the Carbon Trust's claim that small businesses are not doing enough to help the environment. A report by the small business lobby group claims that 92% of small businesses are socially and environmentally responsible and 83% already engage in waste minimisation and recycling initiatives.... more

Average pay rise now 4%
The average pay rise in the private sector is now 4% a year, according to data released by Incomes Data Services. The organisation claims the rise is due to an increase in the Retail Price Inflation index, which increased from 4.2% to 4.3% in November, and warned that the trend risked a higher rate of inflation ... more

Business confidence at two-year low
Business confidence in the UK is at its lowest point for two years, sparking fears that concern over the credit crunch could push the economy into recession. According to BDO Stoy Hayward’s quarterly Business Trends Index optimism fell for the fourth month in a row in December... more

UK manufacturing growth slows
The rate of growth in the UK’s manufacturing sector slowed in December as concerns over the global economic crisis saw orders hit a two-year low, figures from the Chartered Institute of Purchasing and Supply/NCT show... more

Fear of company pension closures
Many smaller employers currently operating final salary pension schemes are likely to shut them down and rely on the government’s proposed national pension plan, the Association of Consulting Actuaries has warned... more

UK ‘faces a tough year ahead’
UK businesses face a tough year in 2008 due to the global credit crunch and rising food and energy prices, the Confederation of British Industry has warned. The group's director general, Richard Lambert, also claimed central banks would be restricted in their ability to reduce interest rates by the threat of inflation caused by high food and energy costs... more