Top forecasters say that UK economy has “deteriorated dramatically” in the past three months, and feel the country is already in a recession.

According to a gloomy report from the Scottish Chambers of Commerce (SCC), a recession is “looming” in Scotland, with business confidence hitting rock bottom.

Official figure published later today are expected to show a rise in unemployment in the UK. The TUC predicts a rise of at least 30,000 people, pushing unemployment to around 1.75 million.
The government has raised an extra £100m to re-train workers expected to lose there jobs as the economy slows down.
The extra cash would be [...]

UK inflation rose to 5.2 percent in September, with energy bills taking the blame, official figures have shown. The Consumer Prices Index (CPI) measure was up from 4.7 percent in August.

The government is to give the Royal Bank of Scotland, Lloyds TSB and HBOS a boost with £37bn of taxpayer’s money.

Business leaders yesterday called for the Scottish Government’s waste and recycling strategy to be based on “incentives rather than penalties”.

The KDB Annual Survey of UK Company Directors 2008 has revealed that a growing number of company directors are choosing to live outside the capital and the South East, and “a gradual migration of company directors from the South of England, to more northerly regions, as well as Scotland and Wales”.

A source from the Institute of Chartered Accountants in England and Wales (ICAEW) believes that cash rich, well-run businesses will be in a strong position to gain market share and make acquisitions over the coming months.