Scottish Business Briefing – Friday 10 February, 2012

WELCOME to scotsman.com’s Scottish Business Briefing. Every morning we bring you a comprehensive round-up of all news affecting business in Scotland today.

ECONOMICS

Bank of England pumps in extra £50bn but QE failing small firms say critics

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CONCERNS were raised yesterday that companies are failing to see much benefit from an easing in credit conditions after the Bank of England voted to inject a further £50 billion into the financial system. (Scotsman)

BANKING

Barclays Bank profits fall 3% to £5.9bn

Barclays has reported a 3 per cent fall in profits to £5.9bn for last year, hit by a slowdown at its investment bank arm. The bank also said the bonus pool at the investment banking division was down 32 per cent to £1.5bn in 2011. (BBC)

ENERGY & UTILITIES

Glasgow ‘catapults’ to the front in energy

A £50 MILLION project to accelerate the development of offshore renewable energy is to be based in Glasgow. The centre will focus on technologies for offshore wind, wave and tidal power and aims to bridge the gap between university research and full commercialisation.

Campaigners welcome withdrawal of Leith Biomass plant plans

ENVIRONMENTAL campaigners have welcomed news that proposals for a controversial £360 million biomass energy plant in Leith have been withdrawn. (Scotsman)

INDUSTRY

Rolls-Royce’s profitability powers ahead despite cuts in UK defence

ENGINEERING giant Rolls-Royce yesterday posted record full-year profits of more than £1 billion in the wake of strong demand from airlines for more fuel-efficient engines. (Scotsman)

MEDIA & LEISURE

Gamola complex brings virtual golf and 20 jobs to centre of Aberdeen

A Scottish businessman who sells golfing goods online is opening a £1.5 million centre in Aberdeen where fans of the game will be able to buy kit and enjoy a round on a simulation of an elite course. (Herald)