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December 6, 2012
06:27 EDTRYCEYRolls-Royce says passes information to the SFO relating to bribery concerns
Rolls-Royce, the global power systems company, has passed information to the Serious Fraud Office relating to concerns about bribery and corruption involving intermediaries in overseas markets. This follows a request for information from the SFO about allegations of malpractice in Indonesia and China. Investigations by Rolls-Royce have identified matters of concern in these, and in other overseas markets.The consequence of these disclosures will be decided by the regulatory authorities. It is too early to predict the outcomes, but these could include the prosecution of individuals and of the company. We will cooperate fully. Rolls-Royce will appoint an independent senior figure who will lead a review of current procedures and report to the Ethics Committee of the Board.
News For RYCEY From The Last 14 Days
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October 8, 2015
05:40 EDTRYCEYRolls-Royce plans Asian manufacturing expansion, Bloomberg reports
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October 7, 2015
06:22 EDTRYCEYRolls-Royce to bring more competition in Trent engine fixes, Economic Times says
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October 5, 2015
06:03 EDTRYCEYRolls-Royce to cut up to 400 jobs in Marine business
Rolls-Royce has announced plans to continue the transformation of its Marine business through a program of increased investment in research and development and further efficiencies, as it positions the business for the future, following the continuing impact of the sharp fall in oil prices. These proposals will build on a series of cost reduction initiatives carried out over the past two years, and focus on improving competitiveness by reducing corporate and administrative costs with most of the early savings being reinvested in increased R&D activity. Profit and revenue guidance for our Marine business, as set out in July, remains unchanged. The number of employees will be reduced by up to 400 worldwide by the end of next year, in addition to the reduction of 600 employees previously announced in May, which was also driven by the impact of the low price of oil and subsequent fall in orders. The company expects the proposals will generate full year savings of GBP40M, with incremental benefits from 2016 onwards; most of the early savings will be invested in increased R&D activity. Due to the timing of actions being taken, this will now see GBP20M charged in 2015 and GBP10M taken in 2016.
October 4, 2015
12:23 EDTRYCEYRolls-Royce to cut 400 management jobs in marine unit, FT says
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September 30, 2015
05:25 EDTRYCEYRolls-Royce reinstated with a Buy at Goldman
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September 29, 2015
10:31 EDTRYCEYAmerican Airlines, Rolls-Royce to dissolve Texas Aero Engine partnership
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September 28, 2015
19:11 EDTRYCEYRolls-Royce to face second inquiry over Petrobras links, Guardian says
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