A survey conducted by the Chartered Institute of Personnel and Development (CIPD) has revealed half of public sector workers would consider strike action in the event of pay cuts or changes to their pensions. The CIPD said 49% of workers surveyed agreed with the statement “workers have to do what’s necessary to protect their jobs [...]
Employers’ group, the Confederation of British Industry (CBI) has today said it is against existing banking giants being broken up. The comments from the CBI come just a few weeks after Britain’s Independent Commission on Banking (ICB) said it was looking at ways to increase competition and choice among high street banks. One option could [...]
Employers’ group, the Confederation of British Industry (CBI), is calling on the Government to tighten laws to make it harder for workers to take strike action. Furthermore, Mayor of London Boris Johnson, is also calling for a reform of the law, suggesting the Government introduce legislation preventing action unless at least half of union members [...]
The Office for National Statistics (ONS) has today revealed the UK economy grew by 1.2% in the April to June period – unrevised from its second estimate last month. While the reading was expected to remain the same – it represented the fastest pace in nine years and took the annual rate of growth to [...]
Employers’ group, the Confederation of British Industry (CBI), has revised its growth forecast for the UK’s economy. It is now predicting the economy will grow by 2% in 2011, not 2.5% as forecast earlier this year. Its downward revision is due to the massive spending cuts, introduced by the Government – deemed necessary in order [...]
The Confederation of British Industry’s (CBI) monthly industrial trends survey has today provided a positive outlook for the manufacturing sector. The CBI’s order book balance rose to -14 this month from -16 in July. While this indicates that orders are still declining, it represented the slowest pace in two years. Meanwhile, the export order book [...]
Richard Lambert, the Director General of Britain’s largest business organisation, the Confederation of British Industry (CBI), has announced he will step down in 2011 – when his five-year term ends. Mr Lambert has been with the lobby group since July 2006 when he replaced Sir Digby Jones. He was previously a member of the Bank [...]
A quarterly survey of the UK’s financial services sector by PricewaterhouseCoopers (PwC) and the Confederation of British Industry (CBI) has revealed that the industry is growing, albeit at a slower pace than expected. According to the survey, activity in the sector in the last three months has grown at its fastest rate since September 2007, [...]
A survey by the Confederation of British Industry (CBI) today revealed a mixed June for retail sales with footwear stores hit but food and electrical retailers experienced good growth. According to the CBI’s monthly distributive trades survey, over one third of retailers reported a rise in the volume of sales during the first two weeks [...]
Releasing its latest economic forecasts today, the Confederation of British Industry (CBI) is forecasting that the economy will expand by 1.3% in 2010 – slightly higher than its forecast of 1% in March. The business group revised its growth forecast upwards due to a strong recovery in the manufacturing industry. However, it left its prediction [...]
A survey by the Confederation of British Industry (CBI) has revealed a fall in UK retail sales for the month of May. Its monthly distributive trades survey reported a sales balance of -18 in May from +13 in April – a 14-month low and the biggest one-month drop in the index since January 2005. According [...]
New Chancellor George Osborne gave a speech to business leaders at the Confederation of British Industry’s (CBI) annual dinner last night and has outlined plans to reform corporation tax. He told business leaders that the new Government is committed to lower and simpler corporate tax rates. At the emergency Budget, on 22 June, Mr Osborne [...]
The Confederation of British Industry (CBI) has said that in order to control public finances, a two-year pay freeze should be imposed on most public sector workers’ pay. Selected public sector pay and recruitment freezes could save £18 billion in the next two years, the business group argued, and it highlighted that pay freezes were [...]
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 [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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