Walker review on bonuses and risk-taking attacked by Institute of Directors

Corporate Britain should be protected from proposed sweeping reforms on bonuses and risk-taking, according to the Institute of Directors (IoD).

In its first detailed response to Sir David Walker’s review of banks’ bonus culture and risk practices, the IoD will say today that some of his proposed measures are too draconian and should not be forced on companies outside the financial sector.

Business loans fell by record figures in July

Business lending fell by the largest amount on record in July after banks wrote off £2.2billion of corporate debt.

Lending contracted by £8.4billion between June and July as banks pulled in their horns amid soaring defaults. The Bank of England figures suggest claims from lenders that they are giving more credit to business customers should be treated with extreme scepticism.

Regional super funds get Mandelson backing

The Business Secretary Lord Mandelson has intervened in what had become a turf war between the regions and Whitehall will lead to the Treasury signing off one £125m fund proposed by OneNorthEast.

A second £140m fund designed by the North West Regional Development Agency is being revised and will be resubmitted for Treasury approval this week.

Dig deep for broadband if you are out in the country

If your business is based in a rural location and you want broadband access then you might find that you are hit with higher charges than your inner city cousins as Stephen Timms, MP for Newham East, who has replaced Lord Carter at the head of the government’s Digital Britain initiative, said that he could not rule out higher charges for broadband subscribers who live in remote areas.

Earlier this year, the Government committed to ensuring that every UK household will have access to broadband at a minimum speed of two megabits per second (2Mbps) by 2012. Today more than 10 per cent of households cannot be provided with that basic level of service, many of them because they are too far from the local telephone exchange – that figure rises to 42 per cent in rural areas.

Skype could be cut off for good over dispute

Skype might have to shut down because of a dispute over the core technology used to make the internet telephone system work.

EBay, which paid $2.6 billion (£1.6 billion) for the voice-over-the-internet system in 2005, is facing a court battle with the original founders of the company who retained the rights to the technology at the heart of the system.

Regional business excellence rewarded

Over 400 business leaders and guests attended The National Business Awards Regional Programme, sponsored by Orange, in London on Tuesday 14th July, to celebrate the success of South of England’s most innovative, ethical and successful businesses.

Nine organisations were duly rewarded including London-based Clearlybusiness, a Barclays company, triumphed with The Orange Best Use of Technology in Business Award for the operational and financial success of its software services for small UK businesses. Octopus Investments, the leading London investment company, won the prestigious Grant Thornton Business of the Year Award.