UK Business News

Woolworths to shut-up shop for the final time

Woolworths remaining 200 shops shut their doors for the last time today marking the end of almost 100 years of trading

EDS settles benefit chaos claim with taxman

Computer company blamed for Government tax credit fiasco agrees final £26.5m instalment of compensation package

• Air chief parachutes in at EDS

• Taxman to sue America's EDS

Stag brewery to close with loss of 180 jobs

Anheuser-Busch blames consumer slowdown and rise in beer duty for closure of Mortlake brewery, which is set for redevelopment

House prices fell by record 15.9% in 2008

The average UK home lost £20,000 of its value this year, and prices are set to fall by a further 15% over 2009

World Business News

Toyota factories face days of closure

The car giant's rare decision, designed to save jobs, is likely to be repeated across Japan's struggling industry

Iceland brings legal action over Kaupthing UK demise

Kaupthing blames UK Government for its demise after the Icelandic bank's UK arm was put into administration

• Iceland hires Lovells as legal showdown looms

• Kaupthing could seek legal action in 'weeks'

Logitech axes 15% of staff and sales targets

The computer mouse and webcam maker blames "unprecedented" deterioration of consumer environment for job cuts

Manager who predicted slump leaves Paulson

The investor who helped John Paulson to make $15bn from predicting the US sub-prime mortgage crisis has left Paulson & Co

Analysis

Cracks in Waterford seen long ago

Waterford Wedgwood was too slow in moving production overseas. Cutting jobs in Ireland was expensive, financially and politically

• FSA was right to scrap the ban

• Bonus care on executive pay

Trucking in the land of Acronymia

At the Fed, the combination of Zirp and QE will provide the liquidity that is a necessary but not sufficient condition of recovery

Equities look a risk worth taking

Profit warnings will come thick and fast this year - 'year zero', but companies that can keep paying dividends will bounce back

Money 

Savers count cost as banks cut deposit rates

Increasing number of savings accounts pay interest of 1 per cent or less

Energy bills to drop by more than £100

Gas and electricity suppliers are expected to follow Scottish Power's lead by cutting tariffs

• British Gas guarantees its lower energy prices

• Ways to cut bills during a recession

More pain for with-profits savers

Millions of savers with endowments, bonds and pensions have been warned that maturity payouts will be slashed

• Standard Life cuts with-profits bonus rates

• Market falls threaten Norwich Union's £1bn payout

Law 

EAT rules law firms can force partners to retire

A case brought by a lawyer against his former firm brings guidance on enforcing mandatory retirement age in partnerships

Clifford Chance hires senior antitrust lawyer

William Blumenthal, general counsel of the Federal Trade Commission, will become chair of the firm's US antitrust practice

• City law firms prepare for painful year ahead

• Senior OFT lawyer to join Clifford Chance

Welcome to 2009: the year of the regulator

Credit crunch failings will provide focus for regulatory investigations on both sides of the Atlantic, lawyers say

• City regulators probe Madoff’s London firm

• Obama lays into SEC's 'lack of supervision'

business travel 

Profile: Raymond Blanc

The celebrity chef talks of how his forgetfulness has turned business trips into nightmares and his views on the state of airline food

• Profile: Shopaholic Patricia Davidson

• Profile: Dame Mary Perkins, Specsavers

The 2009 business traveller

What does the coming 12 months hold in store for road warriors? Business travel editor Mark Frary makes his predictions

Airlines start January sales

Bmi offering discounts with no blackout dates or minimum stay requirements; one way BA upgrades to business class from £59

• The best last minute travel deals and bargains