100,000 British companies in financial trouble
A report by Begbies Traynor claims that upwards of 100,000 British companies are in serious financial trouble with over £58 billion of debt between them. There are also 50,000 other companies likely to be hit by UK government cutbacks which will make the situation even worse and potentially tip tens of thousands more companies over the edge. There is no doubt that beneath the surface there are many companies struggling to survive and any lurch downwards by the UK economy could have a catastrophic impact on the UK business arena.
The report by Begbies Traynor is a major blow to the UK financial arena although thankfully UK banks have grouped together to create a £1.5 billion rescue fund for small to medium-sized businesses. Whether this is too little too late remains to be seen but there is no doubt that UK companies do need increased liquidity and they need it quickly!
Inflation in the UK continues to remain stubbornly high, unemployment in the UK is creeping ever higher and the economy is under major pressure. The higher unemployment rises the more pressure this places upon the welfare state and ultimately we could see many of the budget cuts introduced by the government negated by a massive increase in benefit payments.
UK trade gap widens in April
The UK trade deficit for April increased from £7.259 billion in March to £7.279 billion in April although the figures were overshadowed somewhat by the volcanic ash saga which grounded planes for over a week. While the figures are slightly disappointing, in that many experts had expected imports to increase, these are probably figures we can discount because of the unknown entity which was the v...Read More
How influential is the City of London within the UK economy?
Each day we hear news regarding lucrative remuneration packages in the financial sector, the power of the stock market and the need to rein in risk-taking in the UK banking sector. But how influential is the City of London financial market against the overall UK economy?
When you consider that back in 1998, when we entered a period of deregulation which created a significant boom in...
New Tesco Finance Director joins three months early
23/09/2014 Tesco have announced that their new finance director, Alan Stewart, is to start work three months early. The move comes after reports emerged that the company overestimated their profits for the last six months by £250m. Alan Stewart has been the finance director at Marks & Spencer for the last four years, and had three months left on his contract before he was allowed to join...Read More
Agency Staff And Full Time Staff Will Be Equal
After a number of years in the making it seems as though the government, the unions and the CBI have come to an agreement about how agency workers are treat in the workplace. For many years some companies have made use of agency staff to cut their costs and pay them less than full time staff doing the same job. Many companies have also been able to reduce other costs such as pension contribution...Read More
Google Is Officially The Top Brand Name In The UK
It seemed almost inevitable but it has now been confirmed that Google is officially the top brand name in the UK after a recent survey of over 2,000 consumers. The search engine giant has pushed Microsoft into second and Mercedes Benz into third place, grabbing top spot for the first time ever. If ever there was a more obvious choice it has yet to appear!
The story of Google is on...