Sir Mervyn King has urged “patience” on economic recovery as the Bank of England cut its growth forecasts and warned the crisis has a long way to go yet.
Category: News Wire
Daily feed of the best news affecting your small and medium sized business SME / SMB from media and websites in Britain and across the world
Bank of England expected to cut UK growth forecasts
The Bank Of England is expected to cut growth forecasts close to zero from the 0.8 per cent predicted in May as the double-dip recession intensifies.
Relentless social media use a ‘turn off’ for businesses
Small companies could be losing sales and damaging their reputation by bombarding potential customers with their “relentless” use of social media, according to a business networking organisation.
Retail sales growth slows in July
British retail sales growth slowed in July as a sunny spell towards the end of the month failed to make up for weeks of rain which depressed sales of summer clothes and other seasonal products, the British Retail Consortium said on Tuesday.
Back-to-work scheme ruled lawful by High Court
A graduate has lost her legal challenge to a government scheme which she says forces people to work without pay.
Rogue bosses ‘escaping justice’ following watchdog cuts
Unscrupulous company directors are escaping justice because of a shortage of resources at the Government’s Insolvency Service, experts have warned.
Business groups link up to encourage quick payment
Business groups including the CBI, British Chambers of Commerce and British Venture Capital Association have joined forces to encourage their members to make a commitment to pay small suppliers on time.
Olympics: why the British economy isn’t a winner
Expectations of a big boost are downgraded as the feelgood factor fails to bring in the hard cash
Court rejects Barclays move to delay Libor test case
Barclays has failed in an attempt to delay a legal claim over allegations it mis-sold an interest rate swap to a care home operator.
Delay austerity to boost growth, NIESR says
Delaying the austerity programme by three years would put 200,000 people back into work and raise economic growth by £239bn over a decade, according to one of the UK’s leading think tanks.
RBS suffers £1.5bn loss in first half of 2012
Royal Bank of Scotland has made a loss of £1.5bn in the first six months of 2012 as chief Stephen Hester warned of a “grim period” for the industry.
Auto-enrolment must hit the boards running
Schemes must work harder to quantify immediate impact when trying to engage under 30s.
Royal Bank of Scotland future divides coalition
Vince Cable fails to win support for plan which would bolster lending to small businesses
Factory slump shows no quick end to recession
The manufacturing sector shrank at its fastest rate in more than three years in July, a survey of purchasing managers showed on Wednesday, dealing a blow to hopes that the country was about to come out of recession.
What could the ECB do to save the euro?
The attention of world markets will be firmly fixed on the European Central Bank on Thursday, as it announces its monthly policy decision.