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13/02/2006
High energy prices could result in job losses
Employees will be at risk of losing their jobs if energy prices remain high according to a SME Trends Survey by the Confederation of British Industry (CBI).
The sustained high price of oil is forcing up costs for smaller manufacturers while their selling prices are weakened by low consumer demand.
Almost 40% of employers said average costs rose quarter-on-quarter for the last three months of 2005, this compared to 11% who reported a fall.
Steve Sharratt, Chairman of the CBI's SME Council, said: "Oil prices are still high and hurting smaller manufacturers through increased energy and raw material costs - and recent news stories suggest energy prices are set to rise even further.
"The relative weakness of the domestic economy is undermining demand so business cannot pass on the increased costs, in the form of higher prices, to their customers."
Planned investment in buildings and plant and machinery over the coming year has been reduced, however spending on product and process innovation, and training is set to rise.
Mr Sharratt said: "The Bank of England is understandably reluctant to alter interest rates until more data from the high street and wage settlements is available, but it must be prepared for a cut if there is no sign of a pick up in the economy."
(CD)
The sustained high price of oil is forcing up costs for smaller manufacturers while their selling prices are weakened by low consumer demand.
Almost 40% of employers said average costs rose quarter-on-quarter for the last three months of 2005, this compared to 11% who reported a fall.
Steve Sharratt, Chairman of the CBI's SME Council, said: "Oil prices are still high and hurting smaller manufacturers through increased energy and raw material costs - and recent news stories suggest energy prices are set to rise even further.
"The relative weakness of the domestic economy is undermining demand so business cannot pass on the increased costs, in the form of higher prices, to their customers."
Planned investment in buildings and plant and machinery over the coming year has been reduced, however spending on product and process innovation, and training is set to rise.
Mr Sharratt said: "The Bank of England is understandably reluctant to alter interest rates until more data from the high street and wage settlements is available, but it must be prepared for a cut if there is no sign of a pick up in the economy."
(CD)
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07 March 2002
Halifax report continuing rise in house prices
House prices in the UK have risen by almost 17 per cent according to the latest survey figures released by the Halifax. The report, published on Thursday 7 March, has shown that in February, property prices rose by more than one-sixth on the same time a year earlier – representing the fastest annual rate of growth in 12 years.
Halifax report continuing rise in house prices
House prices in the UK have risen by almost 17 per cent according to the latest survey figures released by the Halifax. The report, published on Thursday 7 March, has shown that in February, property prices rose by more than one-sixth on the same time a year earlier – representing the fastest annual rate of growth in 12 years.
30 May 2002
Nationwide reveal further rise in UK house prices
The latest survey from the Nationwide Building Society has revealed that British house prices rose in May to their highest annual rate in 13 years. Overall, house prices rose by 2.1% during the month, taking their annual growth rate to 17.9% - the highest since the boom of the late 1980s.
Nationwide reveal further rise in UK house prices
The latest survey from the Nationwide Building Society has revealed that British house prices rose in May to their highest annual rate in 13 years. Overall, house prices rose by 2.1% during the month, taking their annual growth rate to 17.9% - the highest since the boom of the late 1980s.
31 October 2005
SMEs face tough short-term prospects
Higher oil and energy prices have combined with falling demand and stagnating prices to make life tough for small and medium-sized manufacturers – and the CBI say many firms fear worse is yet to come.
SMEs face tough short-term prospects
Higher oil and energy prices have combined with falling demand and stagnating prices to make life tough for small and medium-sized manufacturers – and the CBI say many firms fear worse is yet to come.
24 June 2002
Action Energy aims to help cut energy costs
Monday June 24 saw the launch of Action Energy, a Government-backed initiative which aims to help businesses and organisations in Northern Ireland cut their energy costs through the provision of free, professional advice and assistance.
Action Energy aims to help cut energy costs
Monday June 24 saw the launch of Action Energy, a Government-backed initiative which aims to help businesses and organisations in Northern Ireland cut their energy costs through the provision of free, professional advice and assistance.
07 February 2006
BP profits record on high oil prices
BP has reported a 25% increase in profits for the year mainly due to the rise in crude oil prices. The oil giant reported a receord replacement cost profit for the year was $19.3 billion (£11.0bn) compared with $15.4billion (£8.7bn) in 2004.
BP profits record on high oil prices
BP has reported a 25% increase in profits for the year mainly due to the rise in crude oil prices. The oil giant reported a receord replacement cost profit for the year was $19.3 billion (£11.0bn) compared with $15.4billion (£8.7bn) in 2004.
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Northern Ireland WeatherToday:Christmas Eve will be mainly dry but with a good deal of cloud, best chance of any brightness along the Antrim coast. Very mild but breezy especially around the north coast. Maximum temperature 13 °C.Tonight:Dry with a few cloud breaks developing later in the night, feeling quite mild although breezy again in the north. Minimum temperature 10 °C.
