Royal Mail costs, business defaults, and Spanish recession - here's your need-to-know business news roundup.
Royal Mail prices have risen today following a bitter row over increased costs.
First class stamps have risen to 60 pence from 48, but price hikes have been instituted across Royal Mail’s consumer and business offerings. [BBC]
The number of businesses defaulting on loans will rise to its highest point since the late 1990s.
This is according to a new report from the Ernst & Young Item Club, which suggests that lenders will write off 1.9 per cent of their business loans during 2012, up from 1.6 last year. [ThisIsMoney]
Spain has returned to recession, official figures have confirmed.
The Spanish economy contracted by 0.3 per cent during the final quarter of 2011, casting further doubt on leaders’ plans to secure the eurozone. [Guardian]