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Big lobby groups may step in to defend small businesses – Large companies that abuse their suppliers could be sued by business groups acting on behalf of their members, under government proposals designed to tackle the mistreatment of small firms. The business department said the organisations such as the Federation of Small Businesses should have powers to challenge companies when their payment terms are “grossly unfair”, as suppliers can be afraid to speak out for fear of losing trade.
Car sales pick up speed – New vehicle sales in America got off to a roaring start in January, driven by demand for pick-up trucks and SUVs, in what is usually a quiet months for dealers. Ford said its sales had jumped by 15.3 per cent from a year earlier, while General Motors and Fiat Chrysler Group reported increases of 18 per cent and 14 per cent, respectively.
Profit motive is driving Toyota towards No 1 spot – The world biggest car maker is set to become the most profitable. Toyota Motor Corporation said yesterday that, despite a marginal reining in of expected sales in the year to the end of next month of nine million vehicles, it was aiming for operating profits of 2.7 trillion yen (£15.1 billion)
Britain’s thriving economy here to stay, says for forecaster – Strong growth and low inflation in Britain is here to stay, according to a respected economic forecaster, which said falling oil prices would give the economy a “shot in the arm”.
Company wage bills may rise over European ruling on commission payments – Company wage bills could be set to rise as a result of an ongoing employment tribunal into whether commission payments should still be made when workers are on holiday. It is second major case in recent months that challenges the way holiday is calculated in the UK.
BP expects several years of low oil prices and investment cuts – The oil price slump is likely to last for several years and companies will need to adjust to this “new reality” by making enormous cuts to their capital spending. BP chief executive Bob Dudley waned yesterday, as he announced plans to chop $6bn (£4bn) off the group’s capital spending this year.
Car-hackers driving off with top motors – Increasing numbers of top-of-the-range vehicles are being stolen every day by thieves who simply drive off after bypassing security de vices by hacking on-board computers. Gangs using ‘keyless’ techniques are estimated to have stolen more than 6,000 vehicles in London alone last year – almost half of all cars and vans stolen.
Bill shock over car finances – Hundreds of customers who take out hire-purchase deals on cars have complained after finding themselves lumbered with unexpected bills. The Financial Ombudsman Service has received 1,271 complaints this year about hire purchase deals, most of which have involved car finance. With these kinds of deals a customer pays an upfront fee and then pays monthly instalment for the vehicle. They can make an extra payment at the end of buy the vehicle. This figure should be set out in your contract.
Jobs boost for UK’s recovery – Britain companies are taking on around 70,00 workers a month following a “reassuringly robust” start to the year, according to figures published yesterday. A closely-watched monthly check if the UK economy showed activity bounced back in January following as slowdown in December – easing fears that the recovery is running out steam.