Stoy survey warns downturn will be worse than 1990s

Businesses across the UK are seeing their order books collapse and now expect the current downturn will be worse than the recession of the early 1990s, the latest Business Trends report from accountant and business adviser BDO Stoy Hayward said yesterday.

Oilexco into administration

An Aberdeen-based oil exploration company has gone into administration, marking the first significant failure of a UK oil company as a result of the global economic crisis.

Embattled consumer opts for savoury over sweet

British consumers appear to be turning to sausage rolls rather than chocolate as the comfort food to see them through the economic downturn.

Macallan chief’s pay package rises 38%

Bill Farrar, the chairman of whisky maker The Macallan Distillers and a main board director of parent group Edrington, enjoyed a 38% top- up in his pay package to more than £450,000, The Herald can reveal.

	Service companies slash jobs at fastest-ever pace
	UK service companies cut jobs in December at the fastest pace since comparable records began in 1996, according to a survey yesterday.

'Local income tax stopping businesses moving to Scotland'

Businesses have put on hold plans to move to Scotland over fears about the effects of a proposed local income tax, an industry leader said today.

Rose determined to steer Marks and Spencer through downturn

Marks & Spencer boss Sir Stuart Rose has been credited with the revival of the high street giant, but has come under heavy pressure as trading turned sour during a torrid 2008.

Kaupthing to sue UK Government over administration row

Kaupthing, the Icelandic state-run bank, will sue the British Government for its decision to force the bank's UK subsidiary into a form of bankruptcy, the Icelandic prime minister's office said yesterday.

Axis sees potential in test for arthritis

Axis-Shield, the Scottish-Norwegian maker of medical diagnostic kits, yesterday said it had developed and manufactured a new test for the early diagnosis of rheumatoid arthritis and that it had the potential to alleviate the suffering of millions of people.

Banks’ self-preservation could turn into collective suicide

The behaviour of the UK banking sector becomes more outrageous by the day. Taxpayer money has been thrown at the banks for one simple reason – to get them lending again to businesses and individuals for the public good.

Debenhams and Next warm hearts of investors

The avoidance of a Christmas disaster was enough to send shares in retailers Debenhams and Next soaring yesterday.

Lloyds TSB-HBOS unveil mid-tier management team

Bank of Scotland branches are to continue to be over-seen by current branch network head David Nicholson after the merger between HBOS and Lloyds TSB, it was confirmed yesterday.

Equity markets look to accent the positive and extend rally

Global stock markets extended a post-Christmas rally yesterday despite more bad US economic news and a growing energy dispute between Russia and Ukraine which lifted oil prices in London above $50 a barrel.

Sterling on the counter-attack against Euro

The pound continued its fightback against the euro yesterday, pushing the single currency down towards the 90p-mark and ever further away from the 98.03p record high hit on Tuesday last week.

North sea drilling update adds £20m to Faroe Petroleum

Shares in Faroe Petroleum jumped by a third yesterday, adding £20m to the company's market value after an encouraging drilling update from the oil and gas independent.

More ...