Rolls Royce Holdings plc ADR(RYCEY)- OTCPK - Current
  • Thu, Sep. 22, 7:39 AM
    • Rolls-Royce (OTCPK:RYCEY) CEO Warren East is replacing his finance chief in a move that amplifies the scale of the shake up under way at the company since a series of profit setbacks and a dividend cut.
    • Stephen Daintith, current CFO at Daily Mail & General Trust, will replace finance chief David Smith, who is set to leave the firm next year after a transition period.
    | Thu, Sep. 22, 7:39 AM
  • Mon, Sep. 19, 9:48 AM
    • Rolls-Royce (OTCPK:RYCEY) is expanding job cuts in its prolonged battle to boost profitability.
    • The company will shed 200 more management roles through a buyout program, on top of the 400 management positions it said it would eliminate in May.
    | Mon, Sep. 19, 9:48 AM
  • Wed, Aug. 31, 3:56 PM
    • Japan's ANA Holdings says it will replace all 100 Rolls-Royce (OTCPK:RYCEF, OTCPK:RYCEY) engines on its fleet of Boeing (BA -1%) 787 Dreamliner jets following three engine failures this year caused by corrosion and cracking of turbine blades.
    • ANA says all 50 of its 787s will receive engines fitted with new blades, a process that could take up to three years.
    • Rolls-Royce says it will swap out existing blades for new ones on ANA's planes in the short term ahead of a new blade design that will be ready by year-end.
    | Wed, Aug. 31, 3:56 PM | 12 Comments
  • Wed, Aug. 31, 6:24 AM
    • "All hands on deck" may soon be a thing of the past. Ship designers, their operators and regulators are gearing up for a future in which cargo vessels sail the oceans autonomously with minimal or even no crew.
    • British engine maker Rolls-Royce (OTCPK:RYCEY) is among those leading the pack, with its Advanced Autonomous Waterborne Applications initiative involving other companies and universities. It predicts unmanned shipping to cut transport costs by 22%.
    | Wed, Aug. 31, 6:24 AM | 3 Comments
  • Tue, Aug. 30, 7:46 AM
    • Japan's ANA Holdings (OTCPK:ALNPY) says it could take as long as three years to replace faulty turbine blades in the Rolls-Royce (OTCPK:RYCEY) engines powering its Boeing (NYSE:BA) 787s.
    • The carrier has halted 18 flights in August resulting in ¥82M ($800K) in lost revenue as it works on the jets and has said it may cancel other flights in coming months.
    • "It is an issue but it's a manageable issue," Rolls-Royce CEO Warren East told Reuters. "With the more intensive use, the natural wear and tear on the engines happens sooner."
    • Of the 445 Dreamliners in operation worldwide, about 40% use the Rolls-Royce engines.
    | Tue, Aug. 30, 7:46 AM | 6 Comments
  • Thu, Aug. 25, 9:46 AM
    • ANA Holdings, Japan's largest airline and the world’s biggest operator of Boeing’s (BA -0.5%) Dreamliner jet, says it has canceled nine flights with the jets scheduled for Friday and may have to scrap an additional 300 or more through the end of September.
    • ANA is checking the Rolls-Royce (OTCPK:RYCEF, OTCPK:RYCEY) engines on its fleet of 787s after investigating a February incident when an aircraft had to shut down a power plant and return to the airport.
    • The issue came to the fore after ANA found corrosion on the turbine blades; the airline's entire fleet of 787s is powered by Rolls-Royce engines.
    | Thu, Aug. 25, 9:46 AM | 18 Comments
  • Thu, Jul. 28, 8:58 AM
    | Thu, Jul. 28, 8:58 AM
  • Tue, Jul. 12, 10:40 AM
    • Cost savings of up to £1B are possible but there is no target set yet, Rolls-Royce (OTCPK:RYCEY +0.9%) CEO Warren East told reporters at the Farnborough Airshow.
    • The company is also ready to provide Boeing with an engine should it design a new plane, as a turnaround plan at the British firm gains traction.
    | Tue, Jul. 12, 10:40 AM
  • Mon, Jul. 11, 9:01 AM
    • Rolls-Royce (OTCPK:RYCEY) is buying the outstanding 53.1% shareholding in Industria de Turbo Propulsores, owned by SENER Grupo de Ingenieria, for €720M.
    • The company said the agreement allowed it the flexibility to settle up to 50% of the purchase price in shares.
    | Mon, Jul. 11, 9:01 AM
  • Wed, Jun. 15, 8:11 AM
    • Rolls-Royce (OTCPK:RYCEY) CEO Warren East has told his staff that staying in EU would be best for the company.
    • He also warned that a Brexit could result in some decisions being put on hold - like whether to invest in a new aero-engine testing facility at its Derby plant.
    • The engine maker employs roughly 14K people in continental Europe.
    | Wed, Jun. 15, 8:11 AM
  • Thu, May 19, 7:51 AM
    • Britain's Serious Fraud Office has widened its investigation into Rolls-Royce (OTCPK:RYCEY) to examine allegations of suspected bribery in Nigeria, FT reports.
    • "We are co-operating with the authorities," a company spokesman said. "We have made it clear that Rolls-Royce will not tolerate business misconduct of any kind."
    | Thu, May 19, 7:51 AM
  • Wed, Mar. 2, 5:02 AM
    • Following a series of profit warnings and its first dividend cut in 24 years, Rolls-Royce (OTCPK:RYCEY) has given a board seat to U.S. activist investor ValueAct, which holds a 10.8% stake in the company.
    • The British engine-maker has been suffering from high manufacturing costs that have dragged its margins well below those of rivals, while its aerospace division is struggling with the transition to a new generation of less profitable engines.
    | Wed, Mar. 2, 5:02 AM | 1 Comment
  • Fri, Feb. 12, 4:05 AM
    • Commerzbank (OTCPK:CRZBY) returned to profit in Q4 and announced its first dividend since 2007 after revealing lower bad loan provisions.
    • A raft of new model sales offset a Russia write-down for Renault (OTCPK:RNLSY) as the French carmaker logged a 50% jump in full year profits.
    • Rolls-Royce (OTCPK:RYCEY) slashed its final dividend for 2015, but continued its restructuring efforts with a 20% cut to the top two layers of senior management.
    | Fri, Feb. 12, 4:05 AM
  • Fri, Jan. 29, 7:47 AM
    • Rolls-Royce (OTCPK:RYCEY) is cutting a few dozen senior management jobs, the latest move by its chief executive to revive a company reeling from low oil prices and a slowdown in aero-engine servicing.
    • The layoffs follow the first stage of the company's management shake-up in mid-December, when CEO Warren East East scrapped a two-divisional structure in favor of five business unit heads reporting directly to him.
    • Rolls-Royce's stock has plunged almost 40% over the last twelve months and is down 6% YTD
    | Fri, Jan. 29, 7:47 AM
  • Dec. 21, 2015, 10:30 AM
    • Rolls-Royce's (OTCPK:RYCEY +0.2%) chief executive Warren East has flagged new risks to the performance of the aerospace group’s diesel engine business - the only division to have so far escaped a downgrade in the past five profit warnings.
    • "If you look at our competitors in our reciprocating engines part of the business, there have been some fairly serious downgrades on next year," he said. "When I look at that, I do have a feeling of a little bit of disquiet...I've got to say, that’s a risk area."
    • East told investors last month that he would not rule out a new profit warning after five since February 2014.
    | Dec. 21, 2015, 10:30 AM
  • Dec. 16, 2015, 3:54 AM
    • Engine maker Rolls-Royce (OTCPK:RYCEY) has announced an overhaul of its senior management to revive its fortunes and growth following five profit warnings.
    • As of January 1, the company will operate as five market facing businesses, with the presidents of Civil Aerospace, Defense Aerospace, Marine, Nuclear and Power Systems reporting directly to CEO Warren East.
    • The decision will bring an end to the current divisional structure of Aerospace and Land & Sea, removing a layer of senior management.
    | Dec. 16, 2015, 3:54 AM