World trade talks end in collapse

BBC reports on the collapse of talks on world trade.

Marathon talks in Geneva aimed at liberalising global trade have collapsed, the head of the World Trade Organisation has said.

Pascal Lamy confirmed the failure, which officials have blamed on China, India and the US failing to agree on import rules.

Loch Fyne pays ‘below minimum wage’

BBC reports on how “ethical” fish restaurant pays its staff below the minimum wage, making up the difference with the tips staff earn from customers.

The “ethical” fish restaurant group, Loch Fyne, pays staff salaries below the minimum wage, the BBC has learned.

It relies on customer tips to boost total pay to a lawful level, along with a growing number of restaurants.

Loch Fyne champions marine conservation, and proclaims a corporate philosophy of “an enterprise with respect for animals, people and ecology.”

What they are doing is not illegal, many consider it unethical.

Like many business organisations there main reason is to keep costs down in a competitive business environment.

Interest rates steady at 5%

BBC reports on the decision by the Bank of England to keep interest rates at 5%.

The majority of Bank of England policymakers voted to keep rates steady at 5% at its July meeting, but one voted for a cut and another for a rise.

The surprise split underscores the challenge faced by the Bank’s Monetary Policy Committee (MPC) as it balances slowing growth with rising inflation.

Most businesses would have been looking for a cut in interest rates as rising food and fuel costs eat into consumers’ disposable income. Cutting interest rates would reduce credit and mortgage costs. Cutting interest rates would also reduce businesses financial costs if they had been borrowing.

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What a waste…

According to a recent survey, we as a nation in the UK throw away 1.3m unopened yogurts every day.

The BBC reports on the survey:

More than a million unopened pots of yogurt and yogurt drinks are thrown away in the UK every day – that’s 484 million a year, according to recent research.

And it’s not just yoghurt!

4.4 million whole apples and 1.2 million sausages are thrown away each day.

What a waste!

What are you throwing away?

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Supermarkets reduce petrol prices

Is this a response to changes in the business environment or simply a marketing ploy?

BBC reports

Retailers Asda, Morrisons and Sainsbury’s have all said they will lower the price of petrol, prompted by falling oil prices.

You decide!

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Barbie firm wins Bratz court case

BBC reports on the winning of a legal case brought by Mattel, the makers of Barbie against MGA Entertainment the makers of the Brtaz dolls.

Mattel has triumphed in a copyright court case against the maker of the popular Bratz dolls, MGA Entertainment.

A California court ruled that the creator of Bratz dolls, Carter Bryant, came up with the idea while he was working for Mattel.

It means that Mattel could be awarded millions of dollars when the jury comes to consider damages.

This case demonstrates the legal recourse that companies may take if they feel their ideas have been stolen.

Sony Ericsson to axe 2,000 jobs

BBC reports on the decision by phone giant Sony Ericsson to cut two thousand jobs.

Mobile phone maker Sony Ericsson has said it will shed 2,000 jobs worldwide over the coming year to cut costs.

This article demonstrates the impact that the economic downturn can have on a business and organisation, and cutting costs (by axing jobs) is a response to the decrease in sales and revenue.

Sony Ericsson said

it was aiming to cut operating costs by £300m a year

The article places the blame on the state of the economy, specifically the credit crunch.

Consumer demand has been hurt by a credit crunch that has prompted banks to withdraw many loans and mortgages.

As a result, many consumers have had less money to spend and have had to cut back on their outgoings.

EU seeks key deal on fruit trade

BBC reports on how the EU is seeking a deal on the trade in tropical fruit.

Failure to agree on tropical fruit exports to the European Union would put a global trade deal at risk, the European Commission has warned.

These agreements on international trade can have an impact on how a business in the UK operates and their sales.

Inflation hits 3.8%

BBC reports on the eleven year high inflation figure of 3.8%

Rising food and fuel costs pushed UK inflation up to an 11-year high of 3.8% in June from 3.3% in May, figures show.

A380 ‘to benefit from oil prices’

BBC reports on how EADS (the firm behind the A380) expect the sales of the A380 to increase due to the rising price of oil.

EADS chief executive Louis Gallois told the BBC that the rising oil price is pushing airlines towards buying new, more efficient aeroplanes.

“We have the most energy-efficient aeroplane in the world, the A380, the aeroplane of the future,” he said.

This demonstrates how even in a difficult business environment, there is potential for some businesses to prosper and improve sales.

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