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News Tag: businesses

July 1, 2010

BoJ Tankan survey reveals sentiment at two-year high

by Kay Murchie
”BoJ
The Bank of Japan’s closely watched quarterly Tankan survey has revealed a significant improvement in business confidence in Japan. The Tankan index revealed business confidence among major manufacturers had picked up for the fifth consecutive quarter, rising one point in June from -14 in March. The Tankan, which surveys 10,000 firms, measures the percentage of companies that think business conditions ...



May 28, 2010

Cameron pledges to “transform our economy”

by Kay Murchie
”Cameron
In his first major speech since becoming Prime Minister David Cameron has today promised to "transform our economy" and make the next decade the "most entrepreneurial and dynamic in our history". Outlining the Government's strategy for economic growth, he has also pledged to help firms by cutting red tape, improving trade and transport links and getting banks lending again. He also said ...



May 6, 2010

UK services sector activity hit by volcanic ash cloud

by Kay Murchie
”UK
Activity in the UK’s closely-watched service sector slowed in April, hit by the volcanic ash cloud which disrupted businesses. Furthermore, activity was hit by concerns about the outcome of the general election, according to analysts. The latest activity index from the Chartered Institute of Purchasing and Supply (CIPS)/Markit PMI showed a reading of 55.3 in April, down from 56.5 the ...



March 18, 2010

BoE report reveals sharp fall in UK business lending

by Kay Murchie
’BoE
The latest Bank of England quarterly lending survey has revealed lending to British businesses slumped in January. According to the report, net lending fell by 9.3% during the month - the sharpest decline since records began in 1999. Banks and building societies lent £6.5 billion in January and followed a drop of £3.4 billion in the previous month, the ...



November 23, 2009

Business confidence rises to 6-year high

by Kay Murchie
”Business
Hopes that the recession has finally come to an end emerged today after the Institute of Chartered Accountants in England and Wales (ICAEW) said confidence among British businesses has jumped to a six-year high. According to The Times newspaper, the Business Confidence Monitor survey grew to a reading of 24.6 for the fourth quarter, up from 4.8 in the previous quarter - ...



October 20, 2009

Lloyds TSB: Prepare for economic recovery

by David Masters
”Lloyds
Businesses must get ready to make the most of an upturn in the economy, Lloyds TSB has advised. The bank said businesses that are prepared for economic recovery will thrive when the upturn begins. Although there is no certainty when recovery will begin, firms that do not plan could fall into the trap of overtrading, the bank said. "One thing is clear - those ...



October 19, 2009

UK GDP will struggle in 2010 warns E&Y Item Club

by Kay Murchie
”UK
The Ernst & Young Item Club, a respected group of economists, believes that the UK economy will struggle to achieve 1% growth next year and it is still too early to declare a recovery. The influential think tank is forecasting some growth in the latter half of 2009 but Gross Domestic Product (GDP) will struggle next year as ...



September 22, 2009

Survey reveals SMEs concerned about economy

by Kay Murchie
”Survey
More than half of small & medium-sized business owners (57%) believe that the recession will continue until at least next spring. The findings are a result of a survey conducted by Amplify - the communications company. Amplify conducted the survey during the summer and also found that business owners would have done things differently if they had to endure another recession ...



September 21, 2009

Rate of failed businesses eases, reports Experian

by Kay Murchie
”Rate
Credit-checking company, Experian, has reported a decline in the number of UK businesses that fail. According to a report by the agency, a total of 1,796 firms went insolvent in August, a fall of 23% when compared with the previous month. Experian said it was “encouraged” by the latest figures. However, while this figure is the lowest level seen to date ...



August 20, 2009

Recession offers escape route from pensions deficit

by David Masters
Recession offers escape route from pensions deficit
Employees should be asked to opt out of final salary pension schemes or risk losing their jobs, a leading pensions adviser said this week. Des Hamilton, technical director of the Pensions Advisory Service, said most final salary pension schemes are in deficit, and the recession is an ideal opportunity for companies to encourage their employees to opt out of the plans. Companies ...



July 21, 2009

Lending to businesses falls for second consecutive month

by Kay Murchie
”Lending
In its latest "Trends in Lending" report, the Bank of England said the flow of credit to British businesses fell to £3.4 billion in May and followed a drop of £6 billion the previous month. During 2007, the normal levels of lending were £7 billion per month and £4 billion in 2008 - when the credit crunch was well and ...



April 22, 2009

Darling announces tax rises in Budget

by Kay Murchie
”Darling
In today’s Budget, Chancellor of the Exchequer Alistair Darling said the country is suffering as the economy is in the midst of its worst year since World War II. In an attempt to drive the UK to recovery, the Chancellor unveiled a series of measures including tax rises and spending cuts. Those earning in excess of £150,000 face a top tax rate of ...



January 16, 2009

Citigroup reports quarterly loss and plans to split into two businesses

by Kay Murchie
”Citigroup
US banking giant Citigroup has today announced a worse-than-expected fourth quarter net loss of $8.29 billion (£5.6 billion) and said it plans to split the firm into two separate businesses to restore profitability. The bank’s net loss for the last quarter of 2008 works out at $1.72 per share, far worse than most analysts' forecasts of a ...



January 14, 2009

Plans underway to boost lending to businesses

by Kay Murchie
”Plans
Business Secretary Lord Mandelson is set to unveil details of a loan which will kick-start lending to small businesses to help them weather the economic downturn. According to Lord Mandelson, the plans will target ‘genuine business needs‘. It is expected that Lord Mandelson will announce support for up to £10 billion in short-term loans for medium-sized firms to help them with their ...