It's soon going to be easier for businesses to hire and fire unwanted employees.

Vince Cable, the Business Secretary, is launching a consultation on employment regulations, the result of which the government hope will help stimulate the economy.

While the exact details are yet to be confirmed it looks likely there will be:

• A much lower cap on pay-outs for unfair dismissal (potentially the equivalent of 12 months' salary or less)

• New fees payable by employees that take a dismissal claim to court
• Revamped regulations that allow judges to veto unsubstantiated cases before they get to tribunal

Most notably, however, it will be possible for companies to pay staff to leave without repercussion - businesses will be able to negotiate a settlement with underperforming employees, and in doing so close the door on future dismissal claims.

The changes, if confirmed, are likely to come into effect next summer and until then your current redundancy rights still apply. Read our guide Your Redundancy Rights to find out where you stand.

What else is happening?

More people can now get help with the cost of heating through the Warm Front Grant

The government has relaxed its eligibility criteria for this financial assistance. The grant extends up to £3,500 towards the cost of heating and insulation to those who own their own home or rent from a private landlord and receive certain benefits. You can check whether you are likely to qualify on the Direct.gov website and apply even if you've been rejected in the past.

The US Financial Reserve is taking drastic steps to buoy the American economy

They've announced a new round of quantitative easing that will see them pump £25 billion into the economy each month until the outlook starts to improve!

The Olympics have had a knock-on effect on the number of home insurance claims

According to esure over a quarter of Brits have caused more than £200 worth of damage to their home by getting over-zealous on the exercise-front this summer!

EU 'powers that be' could take control of the UK banking sector

That's if controversial plans proposed by the European Commission get implemented. These form part of their push for banking union across the Eurozone and would see the European Central Bank take a leading role in decisions like whether banks should be left to close or receive a bailout.

John Lewis & Waitrose are showing it's possible to defy the double-dip recession

Together the British, employee-owned stores saw a near-60% rise in pre-tax profits in the first half of this year.