Business news in brief: ReNeuron | GA Engineering | Ford

Life sciences firm ReNeuron said yesterday that clinical trials of its stem cell treatment for stroke patients at Glasgow’s Southern General Hospital is running to plan, with no adverse effects reported to date.

The last two patients in a group of 12 taking part in the “Pisces” clinical trial are due to receive treatment in March, and the first five have benefited from “sustained reductions in neurological impairment”.

The Surrey-based firm said: “Further and longer-term data from the study are expected to be presented in scientific conference later this year.”

GA Engineering to add 60 apprentices

Manufacturing firm GA Engineering is to create 60 apprentice roles over the next five years after receiving a £1.8 million funding package from Lloyds TSB Commercial Finance and Bank of Scotland.

The group, which makes components for the chemicals and energy sectors, will also use the funding to launch a training academy at its Dundee headquarters.

Managing director Gordon Deuchars said: “The business has grown considerably over the past few years as a result of increased demand for our engineering capabilities.”

Ford predicts wider losses in Europe

Car maker Ford has predicted wider losses in Europe this year, but its fourth-quarter results beat market forecasts following a rise in US sales.

The group posted a pre-tax profit of $1.7 billion (£1bn) for the final three months of 2012, up from $1.1bn a year earlier and the strongest result for more than a decade.

Chief financial officer Bob Shanks said Ford expects to rack up losses of $2bn in Europe this year, compared with previous estimates of $1.5bn, following a 15.5 per cent slide in sales last year. He added: “Europe will hit bottom this year.”