According to the New Zealand Institute of Economic Research (NZIER), business sentiment fell between January and March, following the 6.3 magnitude earthquake which hit Christchurch on 22 February. A net 11% of companies surveyed said they were pessimistic about the general business situation in the three month period. This compares with a net 1% showing [...]
A report by insolvency specialist Begbies Traynor has revealed 2011 could see a 10% hike in insolvencies. According to the report, 147,836 firms are facing serious difficulties than at any time since the beginning of 2009. The report suggests firms are still feeling the effects of the recession and the Government spending cuts will only [...]
A survey by accountancy firm Deloitte has revealed confidence among finance directors of Britain’s leading companies has dropped to its lowest for a year. The study found two-thirds believe that their companies will be affected by the major cutbacks in Government spending. In addition, according to the study, 38% believe there is a risk of [...]
A survey conducted by the British Chambers of Commerce (BCC) has found that firms are fearful about a hung parliament after the general election. A hung parliament (in which no one political party has an outright majority) would make it harder to pass legislation and undermine a fragile UK recovery. Firms are worried about the [...]
The Munich-based Ifo think tank today announced that confidence among German firms has risen to its highest level in 18 months. The Business Climate Index rose for the tenth consecutive month from 94.6 in December to 95.8 in January – exceeding analysts expectations. In the meantime, business expectations, which form part of the index, increased [...]
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 [...]
Britain’s second-largest recruitment company, Michael Page, has announced a 49% decline in first-half profit after firms cut back on hiring new staff amid the recession. The recruiter reported a pre-tax profit of £43.2 million for the first half of 2009, down 49% compared with the same period ago. Meanwhile, revenue during the period was 27% [...]
A survey by the National Association of Pension Funds has revealed that a quarter of major private sector companies will close their doors to existing members in the next five years. A final salary pension scheme is deemed attractive since it promises to pay a percentage of earnings on retirement and those who join believe [...]
Figures from the Insolvency Service have revealed a surge in the number of people and firms being declared insolvent in England and Wales. According to the Insolvency Service, 4,001 companies fell into liquidation during the third quarter, a rise of 10.5% compared with the previous quarter, and a 26.3% rise compared with the same period [...]
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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