Apr
19 Business counts the cost of Volcanic Ash

The ongoing problems with the Volcanic Ash cloud have made much of Europe a no-fly zone since last Thursday. The financial problems this has wreaked upon the airlines is obvious but there are many other businesses suffering financially as a result.

Many businesses which rely upon goods from overseas are unable to receive delivery as normal. Companies which rely upon the airports for business, such as airport transfers, now have no business at all. The airports themselves, who employ thousands, are also receiving no revenue, as are all of the businesses located within their perimeters now that they are closed.

Many business leaders, not to mention critical employees, are stranded overseas, unable to get back to the UK. It is estimated that up to 6.8m people have so far been directly affected by the travel chaos across Europe.

Categories: Business , Economy

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Apr
08 UK economy facing serious risks

A report from the British Chambers of Commerce shows that a UK upturn is still on course, but the recovery is weak and the economy is facing serious risks.

The Q1 results are positive for the service sector, with most service balances now in positive territory and most showing improvements. The manufacturing results are disappointing, with many key balances worsening and still in negative territory. The Q1 manufacturing employment balance recorded a large decline, and moved significantly into negative territory. It is encouraging that most Q1 export balances improved, and they remain relatively strong for manufacturing.

Categories: Economy , Financial

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Apr
06 Confidence in the housing markets hits two and a half year high

81% (or four out of five) of UK homeowners think that property prices will continue to climb over the next six months, according to the latest Housing Market Sentiment Survey from property website, Zoopla.co.uk.

Optimism around the housing market outlook is significantly improved from just one year ago, when less than one third of homeowners (30%) expected house prices to rise.

Categories: Economy

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Apr
01 28% of small businesses will become insolvent

Figures released by R3, the insolvency trade body, show that over a quarter of small businesses in the UK (28%) believe that they will become insolvent if the economy suffers from a double dip recession.

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