Rolls-Royce in ‘constructive talks’ over ITP Aero sale April 23, 2021 Rolls-Royce this afternoon hit back at claims that the sale of one of its Spanish subsidiaries could be blocked, saying it was in “constructive talks” with authorities over the issues. The FTSE 100 engine maker is in the process of selling off £2bn worth of assets in a bid to fix its finances after the [...]
Luxury watchmaker Bremont pumps £25m in new London hub March 23, 2021 Luxury watch manufacturer Bremont is expected to boost the market in the UK with a watchmaking hub in London. The £25m investment is expected to bolster the company’s headcount by 20 per cent, reaching 180 employees within two to three years, in a bid to focus its supply chain in the UK. “For over 60 [...]
Norway blocks Rolls-Royce sale on security grounds March 23, 2021 The Norwegian government has today said it will block Rolls-Royce’s attempt to sell an engine-making firm to a Russian company on national security grounds. Last month the FTSE blue chip firm announced it would sell Norwegian firm Bergen Engines to TMH Group for €150m (£132.5m). The disposal is part of plans by the aerospace giant [...]
Rolls-Royce joins with Scandi carrier Widerøe to launch all-electric plane by 2026 March 11, 2021 Rolls-Royce has today announced a new partnership with Scandinavian regional carrier Widerøe to develop an all-electric commuter aircraft ready for service by 2026. The 11-seat plane is being designed for initial use in Norway, where extremely short flights are very common due to the country’s mountainous territory. The project is part of Norway’s plan to [...]
Rolls Royce’s £4bn loss: A sobering reminder of how much damage the pandemic has caused March 11, 2021 Rolls Royce was already in serious difficulty even before the pandemic wind came blowing in from China a year ago, due to problems with its Trent 1000 engine that powered the Boeing 787 Dreamliner. Today’s full year results were not any better,and did not come as a surprise for CMC Markets UK chief market analyst Michael [...]
Rolls-Royce plunges to huge loss as Covid turbulence sets in March 11, 2021 Rolls-Royce swung to a £4bn loss in 2020, as the cost of Covid turbulence became clear. The aerospace giant plunged to a loss of £4bn compared to a £306m profit in 2019 as the pandemic stopped airlines flying. The firm’s underlying revenue also sunk to £11.7bn from £15.5bn the previous year. Rolls-Royce’s model of charging [...]
Rolls-Royce: What to expect from the FTSE blue chip’s results March 10, 2021 Rolls-Royce will tomorrow reveal the full extent of the damage the coronavirus pandemic has caused the aerospace engineer when it posts its full year results. It comes at the end of a harrowing 12 months for the engine maker, which has seen its revenue collapse due to the worldwide grounding of planes. In the first [...]
Norwegian watchdog mulls blocking Rolls-Royce sale of Bergen Engines March 9, 2021 Norway’s NSM security watchdog may prevent the agreed $178m sale of Rolls-Royce’s unit Bergen Engines unit to a Russian entity. According to a Reuters report this morning, citing a Norwegian ministry of justice statement from today, the Russian buyer is controlled by TMH Group.
The Week Ahead: ITV, Rolls Royce, Morrison, ECB and UK GDP data March 8, 2021 It’s Monday morning. City A.M. looks ahead at what this week has in store. China Trade for February This morning – The Chinese economy finished 2020 on a strong note, its surplus hitting a record high in December. Exports rose by 18.1 per cent, slightly down from November’s 21.1 per cent but still better than expected, [...]
Goldman Sachs and Rolls Royce team up with Code First Girls to help close gender skills gap February 25, 2021 Goldman Sachs, Rolls Royce and Bank of America, among others, are teaming up with Code First Girls, a UK group dedicated to closing gender skills gaps and bringing women into technology roles. Code First Girls will provide mentorship programmes along with up to £10,000 in free education to women undertaking technology related training courses. The [...]