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 [...]
Rolls-Royce picks former Deloitte partner Kakoullis as finance chief February 15, 2021 Engineering giant Rolls-Royce has named Panos Kakoullis as its new chief financial officer, as the FTSE 100 group steers through a pandemic-driven restructuring. Kakoullis, who spent 30 years at accountancy firm Deloitte, will join the company in May. Restructuring Rolls-Royce said in January that its restructuring efforts were continuing apace, with 7,000 roles removed last [...]
Rolls-Royce to temporarily shut factories during the summer February 7, 2021 Rolls-Royce will temporarily shut down its jet engine factories for two weeks in the summer, in an attempt to save costs in the midst of the pandemic. The shutdown – the first in the company’s history – will affect all 19,000 staff in Britain, according to reports. Workers were told about the planned closure in [...]
Rolls-Royce continues disposal plan with €150m Bergen Engines sales February 4, 2021 Rolls–Royce has today announced that it will sell an engine units to Russian firm TMH for €150m (£132.5m). The sale of gas and diesel subsidiary Bergen Engines is the second disposal the FTSE 100 firm has made it as it seeks to raise £2bn to survive the pandemic. Chief exec Warren East said: “We believe [...]
Rolls-Royce shares plunge as firm cuts flying hours forecast January 26, 2021 Rolls-Royce shares nose-dived this morning as the blue-chip stock lowered its forecasts for the number of hours it expects aircraft powered by its engines to fly this year. Shares fell 6.0 per cent in the morning’s trading as the coronavirus showed no signs of abating. The FTSE 100 firm said that it now expected flying [...]
Rolls-Royce betting small is beautiful when it comes to UK nuclear power January 9, 2021 For many, nuclear power stations are eyesores – great slabs of gun-metal grey cluttering up the UK’s coastlines. But that could be about to change. Last year FTSE 100 blue-bloods Rolls-Royce announced it was planning on building a fleet of 16 so-called “small modular reactors” (SMRs) in a move that would shake up the UK’s [...]
Rolls-Royce kicks off £2bn disposal programme with nuclear instrument sale December 7, 2020 Rolls-Royce today announced that it would sell its nuclear instrumentation business in the first stage of plans to make £2bn in disposals to fuel its post-coronavirus recovery. The blue-chip engineer said that it would sell the business, which employs 550 people, to French nuclear firm Franatome, for an undisclosed fee. In a statement, the FTSE [...]
Rolls-Royce: Mini nuclear reactors to power 6,000 new jobs by 2025 November 11, 2020 Rolls-Royce has said that a government commitment to plans to develop mini nuclear reactors will create 6,000 jobs within the next five years. The engine maker is leading a consortium of companies in designing and building a fleet of 16 such reactors to be deployed across the country. The blue-chip firm said that with 80 [...]