A quarterly survey by the Confederation of British Industry (CBI) has revealed a pick up in export growth due to a weak pound. Small and medium sized businesses in the UK noted that conditions were improving in demand and production of goods. The CBI said more than one third of 402 manufacturing firms reported an [...]
Business group, the Confederation of British Industry (CBI), is calling for an overhaul of public sector pensions as concerns over the affordability of pensions for workers in the state sector, including nurses, teachers and the police, is growing. The CBI is urging the next Government to establish an independent commission within weeks of being elected [...]
A report by the Confederation of British Industry (CBI), has revealed a degree of optimism for the UK financial services sector, which is expected to record higher growth in the next three months, after stagnating in the last quarter. According to the business group, an improvement will be seen in the next three months after [...]
Business group, the Confederation of British Industry (CBI), said the UK economy is in for a “sluggish” recovery this year, predicting growth of just 1% in 2010 and 2.5% in 2011. The forecasts are slightly below the Government’s target of 1.25% this year and 3.5% for 2011. Richard Lambert, director general of the CBI, comments: [...]
The Confederation of British Industry (CBI) is calling on the Government to provide a ‘credible’ economic plan for balancing public finances by 2016 – two years earlier than planned. The business group believes that Chancellor, Alistair Darling, should use his last Budget before the general election to give more details of spending plans for Whitehall [...]
A survey from the Confederation of British Industry (CBI) has provided some optimism for the UK economy but the business group warns of a drawn-out recovery. According to the CBI, its survey found business volumes stabilising across the services sector over the last three months. Meanwhile, the survey found that consumer services, which include hotels [...]
The quarterly Confederation of British Industry (CBI) report has revealed shoppers returned the High Street in their droves in February after UK retailers reported their strongest growth in sales volumes for two years in early February. The CBI also believes further growth will be experienced in March as consumers begin to loosen their purse strings. [...]
The CIPS/Markit manufacturing purchasing managers’ index (PMI) has today revealed UK manufacturing activity rose at its fastest rate in 15 years in January. The figures will boost hopes that the economic recovery is gathering pace after last week’s disappointing fourth quarter GDP figures. The PMI grew to 56.7 in January, up from a revised 54.6 [...]
The latest quarterly SME Trends Survey by the CBI has found that small and medium-sized manufacturers are starting to stabilise after seven quarters of decline. According to the business body, manufacturers are starting to benefit from the weakness of the pound, which has fallen slightly against the US dollar over the last few months. The [...]
The CBI has today reported a sharp fall in retail sales for the month of January due, in part, to the severe wintry weather and the rise in VAT which has hit consumer demand. According to the lobby group’s monthly survey (between January 4 and 15), more than a quarter (28%) of retailers said sales [...]
Business group the Confederation of British Industry (CBI) has warned of a “fragile” recovery this year but the group is predicting that the economy will have exited recession in the fourth quarter. The economy, which has now contracted for six consecutive quarters, has been lagging behind other economies and is now the last major economy [...]
A quarterly survey of the UK’s financial services sector by PricewaterhouseCoopers (PwC) and the Confederation of British Industry (CBI) has revealed that firms remain cautious in their outlook. According to Ian McCafferty, chief economic adviser at the CBI: “The bounce in UK financial services activity over the past six months is not expected to last [...]
The Office for National Statistics (ONS) has today revealed that the UK economy contracted by 0.2% in the July to September period – rather than the 0.3% previously reported and the 0.4% estimated in October. Analysts had forecast a contraction of 0.1%. On an annual basis, the UK economy has shrunk by 5.1% over the [...]
Business group, the Confederation of British Industry (CBI), has warned of a “fragile” recovery next year. However, the group is predicting that the economy will emerge from recession in the fourth quarter. According to John Cridland, CBI deputy director general, growth will gradually pick up but the first few months of 2010 will be difficult. [...]
A survey by the Confederation of British Industry (CBI) has today revealed a poor performance among services companies in the July to September period. The group said a net 13% balance of service firms said profits had increased annually for the quarter, less than the 19% expected. Business services firms such as accountancy and law [...]
The UK economy received a boost today after the Confederation of British Industry (CBI) said retail sales rose at their fastest pace in two years in November. According to the CBI’s monthly distributive trades survey, retailers expect a further rise in December, boosting hopes of a busy Christmas shopping period on the High Street. The [...]
Speaking today at the annual conference of the Confederation of British Industry (CBI), Prime Minister Gordon Brown told business leaders that in order to sustain economic recovery, financial stimulus measures will be kept in place for as long as necessary. The PM warned that economic recovery would be put at risk if official support was [...]
A survey by the Confederation of British Industry (CBI) and recruitment consultancy Harvey Nash, has discovered that more than half (55%) of British companies are proposing to freeze pay for the second consecutive year. Furthermore, the survey found that just over one third are planning a modest increase, while just 4% were looking to increase [...]
The Confederation of British Industry (CBI) has today reported a rise in retail sales with volumes rising at their fastest annual rate for almost two years in October. The CBI’s distributive trades survey said the sales balance rose to +8 in October from +3 the previous month. Not only was it the highest level since [...]
Phone fraudsters stealing bank card pins
Fraudsters using a phone scam to trick bank card holders into revealing their pin numbers stole £750,000 in the first four months of this year. This is the same amount stolen through this scam in the whole of last year. The fraudster telephones a bank customer, often someone elderly or vulnerable, telling them that their [...]
FSA rules out ban on interest-only mortgages
Speculation that the Financial Services Authority would ban interest-only mortgages as part of its Mortgage Market Review has proved to be unfounded. However, lenders will be required to monitor the performance of the investment product taken out by the customer to repay the mortgage at the end of its term. Investments are performing poorly because [...]
Bank of England may end free in-credit banking
A director of the Bank of England has warned that official intervention could be considered to end the ‘dangerous myth of free in-credit banking’. Andrew Bailey has already spoken out against free banking in relation to the mis-selling of financial products. In a speech made available to media, he reiterated his concern, saying that it [...]
Bank of England votes against more economic stimulus
The Bank of England voted against a further round of quantitative easing, at its latest Monetary Policy Committee (MPC) meeting. Just one member, David Miles, voted for further asset purchase to encourage growth in the UK economy, while the other eight members voted to keep the Bank’s quantitative easing programme steady at £325bn. The minutes [...]
Catalogue debt growing says helpline
Calls from people concerned about their debts with mail order catalogues accounted for more than 12 per cent of all calls received by National Debtline last year, compared with just 8 per cent in 2007. More people were concerned about catalogue debt than about payday loans, mortgage or rent, according to the Money Advice Trust [...]
Homeserve faces mis-selling investigation
HomeServe, which provides emergency insurance cover and domestic repairs to households in the UK, is to be investigated by the Financial Services Authority (FSA). Issues over the possible mis-selling of household emergency policies were uncovered last October during an internal review at the Walsall-based company. Homeserve’s call centre staff were found to be selling ‘Complete [...]
OFT warns Wonga over debt collection methods
Payday loan company Wonga used aggressive and misleading methods to collect debts from customers, the Office of Fair Trading (OFT) has found. Wonga sent letter and emails to certain customers suggesting they had committed fraud and threatening to report them to the police if they did not act in the way Wonga suggested. The company [...]
NS&I re-launches investment account
National Savings & Investments (NS&I) has re-launched its Investment Account at a higher interest rate than it previously offered. The account now offers 0.75 per cent before tax, compared with between 0.2 and 0.3 per cent previously, depending on the account balance. Deposits and withdrawals on the account can no longer be made at Post [...]
Rightmove reports property downsizing trend
Two in five property owners planning to sell in the next year are planning to ‘trade down’, compared with one in four who plan to ‘trade up’. A survey by property website Rightmove found that moving to a smaller home is the main reason for moving in nine out of the ten regions in the [...]
More people failing to save for retirement
The proportion of people with no pension savings has grown from 20 per cent to 22 per cent over the past year, according to Scottish Widows’ latest survey. The pension provider surveyed 5,200 adults in the UK, aged 30 or over, and earning at least £10,000 a year, for its annual review of pensions. Ian [...]
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