Business news in brief 07/04/2012

Published on 07/04/2012 00:00

A roundup of the latest business news

Government comes under fire from CBI

THE CBI employers body yesterday rapped the UK government for taking just one “concrete step” to create a “pro-employment landscape” – employees now have to work for two years, not one year, before they are protected from unfair dismissal.

Neil Bentley, CBI deputy director general, said: “As we approach the half-way point of this parliament, we’ve heard plenty of talk, but seen little action.”

Russian GDP growth forecast sees cut

Russia’s economy will expand more slowly than anticipated this year due mainly to a less buoyant rate of growth in investments, economy minister said yesterday.

Elvira Nabiullina said she was cutting the GDP growth forecast to 3.4 per cent from an earlier 3.7 per cent. Her deputy, Andrei Klepach, had said last month the forecast might be cut but had given no figure. In 2011, the economy grew by 4.3 per cent.

Airbus planes news puts Boeing on top

Boeing overtook arch-rival Airbus in deliveries in the first quarter, setting itself on course to recapture the coveted number one spot in annual aircraft production for the first time since 2002, company data has revealed.

Airbus said yesterday its deliveries grew 10 per cent against the first quarter of 2011 to 131 aircraft. On Thursday, Boeing announced Q1 deliveries of 137 planes, up 32 per cent.

Capital firms line up for decathlon

Businesses across Edinburgh are being urged to show their sporty side by signing up for a tournament that promotes “teamwork, increased productivity and profitability”.

The Activitymix Corporate Decathlon, which gets under way on 26 April, promises “ten competitive, inter-company sports events that offer something for every level of fitness and age”. More details online at: www.activitymix.com

Italian banks still failing to lend

Italian banks took around a quarter of the three-year funds offered by the European Central Bank (ECB), but the wall of cash failed to persuade them to lend more readily to firms and households in the early part of 2012, data out yesterday from the Bank of Italy showed.

Lenders scooped up €116 billion (£95.5bn) from the ECB’s long-term refinancing operation in December and €139bn in February.