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’Snap news
Breaking pre-market news on Wednesday,
- Rolls-Royce and Daimler launch joint bid for Tognum; offer pitched at €24 a share — statement.
- Lloyds Banking Group announces management shake-up — statement.
Snap news
Breaking pre-market news on Thursday,
- Rumoured takeover target Smith & Nephew says CEO to retire in April; Olivier Bohuon of Pierre Fabre to get top job — statement.
- Credit Suisse misses profit forecasts;
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Breaking pre-market news on Monday,
- Rolls Royce wins £1.8bn contract to supply Air China with 20 engines — statement.
- QinetiQ wins $1.959bn engineering contract with NASA — statement.
- Taylor Wimpey announces £100m facility agreement and £200m senior notes offering — statement.
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Breaking pre-market news on Friday,
- Bank of Ireland sees underlying operating profit down 35-40 per cent on 2009 — statement.
- Rolls-Royce says problem with Trent 900 engine confined to specific component in the turbine area;
For Skymark, superjumbo orders show super-timing
Rolls-Royce and European aircraft maker EADS are still reeling from the fallout of recent jet engine failures in their Airbus’ A380 super-jumbos (and for Rolls-Royce an additional incident on a Boeing 747),
A380 engine failure hits EADS, Rolls-Royce
Shares in European planemaker EADS fell as much as 2.5 per cent on Thursday after an Airbus A380 operated by Qantas, was forced to make an emergency landing in Singapore. It seems one of the plane’s four Rolls-Royce-manufactured engines exploded — causing the flight to be abandoned just 15 minutes after takeoff.
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Breaking pre-market news on Thursday,
- Ireland puts maximum Anglo Irish bailout cost at €34.3bn — statement.
- Allied Irish Banks planned capital increase rises to €10.4bn — statement.
- Sir John Rose to leave Rolls-Royce in March 2011 — statement.
Aerospace mothballs
Ahead of Boeing’s results on April 22, we thought this chart might be instructive. Click to enlarge.
That’s the number of aircraft in temporary storage. The increase in late 2008/early 2009 is startling — and much worse than in the previous down cycle,
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The latest on Thursday.
- IG Group reports rise in pre-tax profits, H1 doubtful debt charge of £15m – statement
- Corporate results: DMGT, Halfords, Hochschild, Mothercare, National Grid, Rolls Royce.
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The latest on Thursday,
- Standard Life reports small dip in reserves – statement
- Lloyds TSB announces revised board, Tim Tookey as finance director – statement
- Corporate results: British American Tobacco,
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The latest on Tuesday,
- Persimmon to skirt land writedowns in H1 results – trading update
- Estate agent Savills reports sharp downturn – trading update
- EU takes first steps towards tighter
Defence shares really are defensive, find UK investors
Britain’s defence and aerospace stocks have proved a safe haven for investors during the credit crunch, managing even to defy fears over cuts in government defence spending, reports the FT on Monday.
Rolls-Royce snubs UK for Germany
Rolls-Royce has rebuffed a last-ditch attempt by the UK government to stop it building its new testing facility in Germany rather than locating it in Derby, the aircraft engine-maker’s home. After months of negotiations,
BA in landmark $8.2bn order for Airbus, Boeing
British Airways placed its biggest order for aircraft in a decade Thursday with a landmark move to buy both the Airbus A380 superjumbo and the Boeing 787 Dreamliner. The orders, valued at $8.2bn at list prices before heavy discounts,