Tag: businesses

Iain Duncan Smith to issue plea re hiring unemployed

Iain Duncan Smith to issue plea re hiring unemployed

Work and Pensions Secretary, Iain Duncan Smith, is today expected to call on businesses to hire unemployed Britons rather than migrant workers. In a speech to the Spanish Foundation for Analysis and Social Studies in Madrid, the former Tory party leader will call on British firms to recruit young jobless people rather than relying on […]

July 1, 2011 More
Survey finds credit availability has not improved

Survey finds credit availability has not improved

A survey by the EEF engineering group has discovered that British companies are still struggling to obtain credit. According to the manufacturers’ organisation, credit is more expensive today than two months ago. The claim comes despite calls from the Government and business leaders to increase lending to businesses. Commenting on its report, Lee Hopley, the […]

September 20, 2010 More
Survey raises double dip fears

Survey raises double dip fears

A survey by accountancy firm, BDO LLP, has revealed business confidence has slumped to a level not seen since the height of the financial crisis two years ago. The firma��s optimism index (which reflects how businesses expect trading to develop two quarters ahead), fell from 95.5 in July to 93.1 last month. According to BDO, […]

September 13, 2010 More
BoJ Tankan survey reveals sentiment at two-year high

BoJ Tankan survey reveals sentiment at two-year high

The Bank of Japana��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 […]

July 1, 2010 More
Cameron pledges to a�?transform our economya�?

Cameron pledges to a�?transform our economya�?

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 […]

May 28, 2010 More
UK services sector activity hit by volcanic ash cloud

UK services sector activity hit by volcanic ash cloud

Activity in the UKa��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 […]

May 6, 2010 More
BoE report reveals sharp fall in UK business lending

BoE report reveals sharp fall in UK business lending

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 A?6.5 billion in January and followed a drop of A?3.4 billion in […]

Business confidence rises to 6-year high

Business confidence rises to 6-year high

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 […]

Lloyds TSB: Prepare for economic recovery

Lloyds TSB: Prepare for economic recovery

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, […]

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

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

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 […]

Survey reveals SMEs concerned about economy

Survey reveals SMEs concerned about economy

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 […]

Rate of failed businesses eases, reports Experian

Rate of failed businesses eases, reports Experian

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 a�?encourageda�? by the latest figures. However, while this figure is […]

Recession offers escape route from pensions deficit

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 […]

Lending to businesses falls for second consecutive month

Lending to businesses falls for second consecutive month

In its latest “Trends in Lending” report, the Bank of England said the flow of credit to British businesses fell to A?3.4 billion in May and followed a drop of A?6 billion the previous month. During 2007, the normal levels of lending were A?7 billion per month and A?4 billion in 2008 – when the […]

Darling announces tax rises in Budget

Darling announces tax rises in Budget

In todaya��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 […]

Citigroup reports quarterly loss and plans to split into two businesses

Citigroup reports quarterly loss and plans to split into two businesses

US banking giant Citigroup has today announced a worse-than-expected fourth quarter net loss of $8.29 billion (A?5.6 billion) and said it plans to split the firm into two separate businesses to restore profitability. The banka��s net loss for the last quarter of 2008 works out at $1.72 per share, far worse than most analysts’ forecasts […]

Plans underway to boost lending to businesses

Plans underway to boost lending to businesses

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 a�?genuine business needsa�?. It is expected that Lord Mandelson will announce support for up to A?10 billion in short-term loans for […]