India's aerospace sector is witnessing a rapid transformation, driven by increased demand for parts and services from global manufacturers. Companies like Airbus, Rolls-Royce, Collins Aerospace, and Pratt & Whitney are expanding their sourcing from India, capitalising on the country’s growing capabilities.

India emerges as key player in global aviation supply

When discussing automotive excellence and prestige, Rolls-Royce stands as the ultimate embodiment of luxury motoring. The car’s exclusivity extends beyond mere financial means as prospective buyers must meet the company's discriminating standards, as Rolls-Royce carefully curates its clientele. This selective approach ensures that the garage of the car is not just any place but belongs to someone extremely influential, ranging from former aristocrats to film stars.&nbsp;

Today, stars like Amitabh Bachchan, Shah Rukh Khan, Priyanka Chopra, Vijay, and Chiranjeevi own Rolls Royces. But very few know that it was Bollywood actress Nadira who reached here first.&nbsp;

<h3 lang="EN-US" paraeid="{083de911-ae74-4c8f-a0ce-f762edad8399}{97}" paraid="1814725355" >&nbsp;Who was Nadira?&nbsp;</h3>

Nadira, born Florence Ezekiel, whose acquisition of a Rolls-Royce in the 1960s marked her as both the first Indian film personality and one of the earliest celebrities in India to own such a distinguished vehicle. &nbsp;

Born into a Baghdadi Jewish family in Iraq, she relocated to Bombay with her family during the 1930s. Displaying remarkable determination, she entered the workforce at the tender age of 11 and assumed responsibility for her household's financial welfare by 18.&nbsp;

<h3 lang="EN-US" paraeid="{bbddbd20-9765-4971-9b4c-0b34cba2b141}{61}" paraid="691917297" >Her journey in Bollywood&nbsp;</h3>

Her journey began as a child artist, but it was Mehboob Khan's Aan&nbsp;in 1952 that made her a star. She went on to deliver memorable performances in classics like Shree 420&nbsp;and Dil Apna Aur Preet Parayi,&nbsp;establishing herself among the highest-paid actresses of her era, despite often being cast in supporting roles.&nbsp;

However, the 1960s became a turning point for her since she became a typecast in negative roles, opposite traditional heroines. Later she evolved to supporting roles in the films and set a benchmark in successful films like Pakeezah&nbsp;and Julie.&nbsp;Her career went on smoothly for close to six decades and the last films she was seen in were josh and Zohra Mahal. &nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/entertainment/us-elections-2024-sabrina-carpenter-encourages-more-voters-than-any-other-celebrity-773783">US Elections 2024: Sabrina Carpenter encourages more voters than any other celebrity</a>

<h3 lang="EN-US" paraeid="{b79ff0b9-82c4-469b-9bc9-c4f98cc5579a}{154}" paraid="68233065" >Later life&nbsp;</h3>

Nadira spent the later years of her life in Mumbai while the rest of her family relocated to Israel. In 2006, following an extended illness, Nadira passed away at the age of 73, leaving behind a legacy very few women have the heart and ability to conquer.&nbsp;

When discussing automotive excellence and prestige, Rolls-Royce stands as the ultimate embodiment of luxury motoring. The car’s exclusivity extends beyond mere financial means as prospective buyers must meet the company's discriminating standards, as Rolls-Royce carefully curates its clientele.

When discussing automotive excellence and prestige, Rolls-Royce stands as the ultimate embodiment of luxury motoring. The car’s exclusivity extends beyond mere financial means as prospective buyers must meet the company's discriminating standards, as Rolls-Royce carefully curates its clientele. This selective approach ensures that the garage of the car is not just any place but belongs to someone extremely influential, ranging from former aristocrats to film stars. Today, stars like Amitabh Bachchan, Shah Rukh Khan, Priyanka Chopra, Vijay, and Chiranjeevi own Rolls Royces. But very few know that it was Bollywood actress Nadira who reached here first. Who was Nadira? Nadira, born Florence Ezekiel, whose acquisition of a Rolls-Royce in the 1960s marked her as both the first Indian film personality and one of the earliest celebrities in India to own such a distinguished vehicle. Born into a Baghdadi Jewish family in Iraq, she relocated to Bombay with her family during the 1930s. Displaying remarkable determination, she entered the workforce at the tender age of 11 and assumed responsibility for her household's financial welfare by 18. Her journey in Bollywood Her journey began as a child artist, but it was Mehboob Khan's Aan in 1952 that made her a star. She went on to deliver memorable performances in classics like Shree 420 and Dil Apna Aur Preet Parayi, establishing herself among the highest-paid actresses of her era, despite often being cast in supporting roles. However, the 1960s became a turning point for her since she became a typecast in negative roles, opposite traditional heroines. Later she evolved to supporting roles in the films and set a benchmark in successful films like Pakeezah and Julie. Her career went on smoothly for close to six decades and the last films she was seen in were josh and Zohra Mahal. Also read: US Elections 2024: Sabrina Carpenter encourages more voters than any other celebrity Later life Nadira spent the later years of her life in Mumbai while the rest of her family relocated to Israel. In 2006, following an extended illness, Nadira passed away at the age of 73, leaving behind a legacy very few women have the heart and ability to conquer.

Who was actress Nadira? First Indian actor to own Rolls Royce before Shah Rukh Khan, Amitabh Bachchan

On September 27, 2024, Rolls-Royce Motor Cars unveiled the Cullinan Series II in India, marking a significant milestone for the luxury automaker in the Asia Pacific region. Irene Nikkein, Regional Director Asia-Pacific for Rolls-Royce Motor Cars, emphasised the importance of this launch, noting that since its initial introduction in 2018, the Cullinan has attracted a younger and more diverse clientele, becoming the most sought-after model in the Rolls-Royce lineup.

<o:p>&nbsp;</o:p>

The Cullinan Series II represents a significant evolution, incorporating new technologies, materials, and design updates. It also offers innovative opportunities for personalisation through the Bespoke program, further enhancing its appeal to discerning customers.

<o:p>&nbsp;</o:p>

A legacy of excellence

The original Cullinan, launched in 2018, set a new standard as the world's first super-luxury SUV. It was engineered to deliver exceptional off-road capabilities while maintaining Rolls-Royce's signature comfort and "magic carpet ride" experience across all terrains. The Cullinan's success surpassed even Rolls-Royce's most ambitious expectations, solidifying its position as the definitive super-luxury SUV—combining ruggedness with refinement, and unstoppable performance with serene comfort.

Evolving perfection

The development of the Cullinan Series II was undertaken with meticulous attention to detail, drawing on five years of client feedback, the brand's intelligence gathering, and cutting-edge technologies. This iteration represents the most extensive Series II development in Rolls-Royce history, responding to changing luxury trends and evolving usage patterns while staying true to the essential qualities that underpin the Cullinan's unprecedented popularity.

Availability and pricing

Indian customers can now commission both the Cullinan Series II and Black Badge Cullinan Series II at Rolls-Royce Motor Cars Chennai and New Delhi. Pricing for the Cullinan Series II in India starts at Rs. 10,50,00,000, while the Black Badge Cullinan Series II begins at Rs. 12,25,00,000. The first deliveries to local clients are scheduled to commence in Q4 2024. It's worth noting that Rolls-Royce pricing is dependent on client specifications, as each vehicle is customized through the Bespoke program.

Urban sophistication meets versatile performance

Since its introduction, the Cullinan has proven its versatility as both a supremely capable off-road vehicle and a preferred daily driver for many owners. The Cullinan Series II builds on this foundation, with a design that caters to an increasingly urban-focused, younger clientele who often prefer to drive themselves.

<o:p>&nbsp;</o:p>

Key design elements of the Cullinan Series II include:

<o:p>&nbsp;</o:p>

1. A focus on verticality in exterior design, echoing illuminated skyscrapers in megacities.

2. New lamp treatment with tall daytime running light graphics for easy identification.

3. A pillar-to-pillar glass-panel fascia in the dashboard, showcasing both digital and physical craftsmanship.

4. Enhanced connectivity features, including the ability to connect streaming devices to rear screens.

5. A new Bespoke interface for streaming car management and seating functions.

6. Improved audio experience with Bluetooth headphone compatibility and an 18-speaker Bespoke Audio system.

&nbsp;

<o:p>&nbsp;</o:p>A new chapter in luxury

The Cullinan Series II represents a continuation of Rolls-Royce's legacy, shaped in collaboration with a new generation of super-luxury consumers. It embodies the brand's commitment to evolving with its clientele while maintaining its reputation for exquisite craftsmanship and unparalleled luxury.

As Rolls-Royce looks to the future, the Cullinan Series II stands as a testament to the brand's ability to adapt and innovate, ensuring its place at the forefront of the super-luxury automotive market for years to come.

&nbsp;

On September 27, 2024, Rolls-Royce Motor Cars unveiled the Cullinan Series II in India, marking a significant milestone for the luxury automaker in the Asia Pacific region.

On September 27, 2024, Rolls-Royce Motor Cars unveiled the Cullinan Series II in India, marking a significant milestone for the luxury automaker in the Asia Pacific region. Irene Nikkein, Regional Director Asia-Pacific for Rolls-Royce Motor Cars, emphasised the importance of this launch, noting that since its initial introduction in 2018, the Cullinan has attracted a younger and more diverse clientele, becoming the most sought-after model in the Rolls-Royce lineup. The Cullinan Series II represents a significant evolution, incorporating new technologies, materials, and design updates. It also offers innovative opportunities for personalisation through the Bespoke program, further enhancing its appeal to discerning customers. A legacy of excellence The original Cullinan, launched in 2018, set a new standard as the world's first super-luxury SUV. It was engineered to deliver exceptional off-road capabilities while maintaining Rolls-Royce's signature comfort and "magic carpet ride" experience across all terrains. The Cullinan's success surpassed even Rolls-Royce's most ambitious expectations, solidifying its position as the definitive super-luxury SUV—combining ruggedness with refinement, and unstoppable performance with serene comfort. Evolving perfection The development of the Cullinan Series II was undertaken with meticulous attention to detail, drawing on five years of client feedback, the brand's intelligence gathering, and cutting-edge technologies. This iteration represents the most extensive Series II development in Rolls-Royce history, responding to changing luxury trends and evolving usage patterns while staying true to the essential qualities that underpin the Cullinan's unprecedented popularity. Availability and pricing Indian customers can now commission both the Cullinan Series II and Black Badge Cullinan Series II at Rolls-Royce Motor Cars Chennai and New Delhi. Pricing for the Cullinan Series II in India starts at Rs. 10,50,00,000, while the Black Badge Cullinan Series II begins at Rs. 12,25,00,000. The first deliveries to local clients are scheduled to commence in Q4 2024. It's worth noting that Rolls-Royce pricing is dependent on client specifications, as each vehicle is customized through the Bespoke program. Urban sophistication meets versatile performance Since its introduction, the Cullinan has proven its versatility as both a supremely capable off-road vehicle and a preferred daily driver for many owners. The Cullinan Series II builds on this foundation, with a design that caters to an increasingly urban-focused, younger clientele who often prefer to drive themselves. Key design elements of the Cullinan Series II include: 1. A focus on verticality in exterior design, echoing illuminated skyscrapers in megacities. 2. New lamp treatment with tall daytime running light graphics for easy identification. 3. A pillar-to-pillar glass-panel fascia in the dashboard, showcasing both digital and physical craftsmanship. 4. Enhanced connectivity features, including the ability to connect streaming devices to rear screens. 5. A new Bespoke interface for streaming car management and seating functions. 6. Improved audio experience with Bluetooth headphone compatibility and an 18-speaker Bespoke Audio system. A new chapter in luxury The Cullinan Series II represents a continuation of Rolls-Royce's legacy, shaped in collaboration with a new generation of super-luxury consumers. It embodies the brand's commitment to evolving with its clientele while maintaining its reputation for exquisite craftsmanship and unparalleled luxury. As Rolls-Royce looks to the future, the Cullinan Series II stands as a testament to the brand's ability to adapt and innovate, ensuring its place at the forefront of the super-luxury automotive market for years to come.

Rolls-Royce Cullinan Series II makes its grand entrance in India

Eve, a prominent electric aircraft manufacturer, has announced the appointment of Megha Bhatia as its new chief commercial officer. This strategic move, announced on Tuesday, marks a significant step in the company's ongoing development of its innovative "flying taxi" concept. Bhatia brings a wealth of experience to the role, having previously held executive positions at Rolls-Royce, a renowned name in the aerospace industry.

&nbsp;

The significance of this appointment lies in the broader context of the emerging urban air mobility sector. Eve, which operates under the control of Brazilian aerospace giant Embraer, is part of a growing cohort of startups worldwide that are pushing the boundaries of aviation technology. These companies are focused on developing battery-powered aircraft capable of vertical takeoff and landing (eVTOL), with the aim of revolutionizing short-distance urban transportation by providing an efficient alternative to ground-based traffic congestion.

&nbsp;

Eve's ambitious plans include obtaining certification for its eVTOL aircraft and launching commercial services by 2026. The company has already generated substantial interest in its product, amassing an impressive order book of nearly 3,000 potential units. These pre-production orders represent a potential revenue stream of USD 14.5 billion, underscoring the significant market potential for this innovative transportation solution.

&nbsp;

In her new role at Eve, Bhatia will be responsible for overseeing several critical aspects of the company's operations, including global sales, market intelligence, and government relations. This comprehensive portfolio reflects the multifaceted challenges and opportunities facing companies in the nascent eVTOL industry, where success depends not only on technological innovation but also on navigating complex regulatory landscapes and building strong market presence.

&nbsp;

Bhatia's appointment brings a wealth of relevant experience to Eve. Most recently, she served as the chief strategy officer at Jet Support Services Inc (JSSI), a company specialising in aviation maintenance support and financial services. Prior to this, Bhatia spent over a decade at Rolls-Royce, where she held various positions including a stint as vice president of sales and marketing for the company's business aviation division. This extensive background in aviation and strategic leadership positions Bhatia well to contribute to Eve's growth and market positioning.

&nbsp;

This appointment comes at a crucial time for Eve and the broader eVTOL industry. As these companies move closer to bringing their revolutionary aircraft to market, the need for experienced leadership in commercial strategy, regulatory navigation, and market development becomes increasingly critical. Bhatia's diverse skill set and industry knowledge position her to play a pivotal role in Eve's journey from an innovative startup to a key player in the future of urban air mobility.

Eve, a prominent electric aircraft manufacturer, has announced the appointment of Megha Bhatia as its new chief commercial officer. This strategic move, announced on Tuesday, marks a significant step in the company's ongoing development of its innovative "flying taxi" concept.

Eve, a prominent electric aircraft manufacturer, has announced the appointment of Megha Bhatia as its new chief commercial officer. This strategic move, announced on Tuesday, marks a significant step in the company's ongoing development of its innovative "flying taxi" concept. Bhatia brings a wealth of experience to the role, having previously held executive positions at Rolls-Royce, a renowned name in the aerospace industry. The significance of this appointment lies in the broader context of the emerging urban air mobility sector. Eve, which operates under the control of Brazilian aerospace giant Embraer, is part of a growing cohort of startups worldwide that are pushing the boundaries of aviation technology. These companies are focused on developing battery-powered aircraft capable of vertical takeoff and landing (eVTOL), with the aim of revolutionizing short-distance urban transportation by providing an efficient alternative to ground-based traffic congestion. Eve's ambitious plans include obtaining certification for its eVTOL aircraft and launching commercial services by 2026. The company has already generated substantial interest in its product, amassing an impressive order book of nearly 3,000 potential units. These pre-production orders represent a potential revenue stream of USD 14.5 billion, underscoring the significant market potential for this innovative transportation solution. In her new role at Eve, Bhatia will be responsible for overseeing several critical aspects of the company's operations, including global sales, market intelligence, and government relations. This comprehensive portfolio reflects the multifaceted challenges and opportunities facing companies in the nascent eVTOL industry, where success depends not only on technological innovation but also on navigating complex regulatory landscapes and building strong market presence. Bhatia's appointment brings a wealth of relevant experience to Eve. Most recently, she served as the chief strategy officer at Jet Support Services Inc (JSSI), a company specialising in aviation maintenance support and financial services. Prior to this, Bhatia spent over a decade at Rolls-Royce, where she held various positions including a stint as vice president of sales and marketing for the company's business aviation division. This extensive background in aviation and strategic leadership positions Bhatia well to contribute to Eve's growth and market positioning. This appointment comes at a crucial time for Eve and the broader eVTOL industry. As these companies move closer to bringing their revolutionary aircraft to market, the need for experienced leadership in commercial strategy, regulatory navigation, and market development becomes increasingly critical. Bhatia's diverse skill set and industry knowledge position her to play a pivotal role in Eve's journey from an innovative startup to a key player in the future of urban air mobility.

Former Rolls-Royce executive becomes chief commercial officer of Eve

How much does a Rolls Royce cost? In India, the price starts from about ₹6 crore. That is some $720,000. But what if you could have it for $540? A teen from the Indian state of Kerala has achieved this feat.

Gravitas: How to build a Rolls Royce in $540

A horrific accident in the Indian state of Haryana has resulted in the loss of two lives after a Rolls-Royce car, an opulent limousine collided with a petrol tanker on the Delhi Mumbai Expressway.

Rolls Royce collides with oil tanker on Delhi-Mumbai expressway

CEO of engineering giant Rolls-Royce is unable to see top secret UK documents related to its submarine business due to "UK eyes only" protocols of Whitehall security, reported The Guardian. Tufan Erginbilgiç, the CEO of Rolls Royce, has joint UK and Turkish citizenship.

The Guardian reports that Chris Cholerton, the company's group president and Steve Carlier, president of the division, has been given the responsibility of handling sensitive information.&nbsp;

Rolls-Royce makes nuclear reactors that power UK&nbsp;submarines. These include nuclear-armed Vanguard submarines. As per Royal Navy's "continuous at-sea deterrent" capability, at least one nuclear-armed submarine is always on&nbsp;patrol duty.

The 1958 Mutual Defence Agreement governs the nuclear deterrent function. It is the agreement between the US and the UK.

There are 1,500 engineers in Rolls-Royce's submarine division which designs, manufactures and supports reactors for UK&nbsp;submarines.

Erginbilgic's inability to see the documents about Rolls-Royce's submarine division is being reported as an example of bad governance. He took over the position of CEO from the Warren East. He had held the role since 2015.

<h2>A 'burning platform'</h2>

When he took over, he described the company as a 'burning platform' drawing similarity to an oil rig on the sea that's on fire with workers having to choose an option between fire or freezing seawater. Rolls-Royce has about 50,000 employees. Erginbilgic has brought in consultants and it is expected that thousands of jobs will be cut.

Erginbilgic's family is from Kilis, which is close to the Syrian border. He completed his study of engineering at Istanbul Technical University. He graduated in 1982. He studied further and entered the oil industry. He was CEO of British Petroleum's downstream business from 2014 to 2020.

Documents for "UK eyes only" are usually marked "UK secret". These files are expected to have been "communicated in confidence" and by convention, they “should not be released without the agreement of the British government”.

“There have been questions raised internally about whether it’s right to have a chief executive who is not able to be included in some of the most sensitive areas of the business,” said a source close to Rolls-Royce as quoted by The Guardian.

“As CEO, Tufan is fully responsible for the nuclear submarine business in Rolls-Royce and has all relevant oversight of the operation of that business," said a Rolls-Royce spokesperson.

“As a global defence supplier, there are occasionally national eyes-only aspects of our work, such as in the US. In relation to the submarine business, Chris Cholerton, group president with responsibility for the submarine business, supports Tufan”

The spokesperson has been quoted by The Guardian.

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CEO of engineering giant Rolls-Royce is unable to see top secret UK documents related to its submarine business due to "UK eyes only" protocols of Whitehall security, reported The Guardian.

CEO of engineering giant Rolls-Royce is unable to see top secret UK documents related to its submarine business due to "UK eyes only" protocols of Whitehall security, reported The Guardian. Tufan Erginbilgiç, the CEO of Rolls Royce, has joint UK and Turkish citizenship. The Guardian reports that Chris Cholerton, the company's group president and Steve Carlier, president of the division, has been given the responsibility of handling sensitive information. Rolls-Royce makes nuclear reactors that power UK submarines. These include nuclear-armed Vanguard submarines. As per Royal Navy's "continuous at-sea deterrent" capability, at least one nuclear-armed submarine is always on patrol duty. The 1958 Mutual Defence Agreement governs the nuclear deterrent function. It is the agreement between the US and the UK. There are 1,500 engineers in Rolls-Royce's submarine division which designs, manufactures and supports reactors for UK submarines. Erginbilgic's inability to see the documents about Rolls-Royce's submarine division is being reported as an example of bad governance. He took over the position of CEO from the Warren East. He had held the role since 2015. A 'burning platform' When he took over, he described the company as a 'burning platform' drawing similarity to an oil rig on the sea that's on fire with workers having to choose an option between fire or freezing seawater. Rolls-Royce has about 50,000 employees. Erginbilgic has brought in consultants and it is expected that thousands of jobs will be cut. Erginbilgic's family is from Kilis, which is close to the Syrian border. He completed his study of engineering at Istanbul Technical University. He graduated in 1982. He studied further and entered the oil industry. He was CEO of British Petroleum's downstream business from 2014 to 2020. Documents for "UK eyes only" are usually marked "UK secret". These files are expected to have been "communicated in confidence" and by convention, they “should not be released without the agreement of the British government”. “There have been questions raised internally about whether it’s right to have a chief executive who is not able to be included in some of the most sensitive areas of the business,” said a source close to Rolls-Royce as quoted by The Guardian. “As CEO, Tufan is fully responsible for the nuclear submarine business in Rolls-Royce and has all relevant oversight of the operation of that business," said a Rolls-Royce spokesperson. “As a global defence supplier, there are occasionally national eyes-only aspects of our work, such as in the US. In relation to the submarine business, Chris Cholerton, group president with responsibility for the submarine business, supports Tufan” The spokesperson has been quoted by The Guardian. You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

Rolls-Royce CEO unable to see submarine business docs due to security reasons

After reports of ford, Stellantis and other automakers cutting jobs worldwide, British engine maker Rolls Royce has dismissed reports of a job cut at its company. the rebuttal has come after a Sunday times report said that the company would cut 3,000 jobs.

Rolls Royce denies reports of job cuts

British engine maker Rolls-Royce on Sunday denied reports that it plans to cut 3,000 jobs. The company said in a statement that it has made no decisions about its workforce and that any suggestion of job cuts is "pure speculation."

The speculations came after the UK newspaper 'The Sunday Times' reported that the company's chief executive Tufan Erginbilgic has hired consultants to help the company save money and become more efficient. The report also said that part of the plan would involve merging non-manufacturing departments in each of Rolls-Royce's civil aerospace, defense and power systems divisions.

The company has now&nbsp;clarified: "We have made no decisions whatsoever on any potential impact on employees." The company is currently undergoing a strategic review and it is expected to be completed in the second half of 2023.

Rolls-Royce, a major supplier of engines for both commercial and military aircraft, has been hit hard by the pandemic, which has led to a decline in air travel. The aero-engineering giant is also facing challenges from new entrants in the engine market, such as General Electric and Safran.

Rolls-Royce's denial of job cuts comes at a time when several automobile companies have announced massive layoffs. While US carmaker Ford has cut 3,800 jobs in Europe, Stellantis and General Motors have together shelved 29,000 jobs in North America. Japanese carmakers Toyota and Nissan have announced termination of 3,000 and 12,500 employees respectively.

The automobile&nbsp;industry is undergoing a major technological transformation, which is leading to job losses in some areas.&nbsp;The total number of job cuts in the automotive industry in 2022 is estimated to be around 100,000. However, the number of job cuts in 2023 is expected to be even higher, as the industry continues to grapple with the aftermath of the pandemic, the war in Ukraine, and rising inflation.

British engine maker Rolls-Royce on Sunday denied reports that it plans to cut 3,000 jobs. The company said in a statement that it has made no decisions about its workforce and that any suggestion of job cuts is "pure speculation.

British engine maker Rolls-Royce on Sunday denied reports that it plans to cut 3,000 jobs. The company said in a statement that it has made no decisions about its workforce and that any suggestion of job cuts is "pure speculation." The speculations came after the UK newspaper 'The Sunday Times' reported that the company's chief executive Tufan Erginbilgic has hired consultants to help the company save money and become more efficient. The report also said that part of the plan would involve merging non-manufacturing departments in each of Rolls-Royce's civil aerospace, defense and power systems divisions. The company has now clarified: "We have made no decisions whatsoever on any potential impact on employees." The company is currently undergoing a strategic review and it is expected to be completed in the second half of 2023. Rolls-Royce, a major supplier of engines for both commercial and military aircraft, has been hit hard by the pandemic, which has led to a decline in air travel. The aero-engineering giant is also facing challenges from new entrants in the engine market, such as General Electric and Safran. Rolls-Royce's denial of job cuts comes at a time when several automobile companies have announced massive layoffs. While US carmaker Ford has cut 3,800 jobs in Europe, Stellantis and General Motors have together shelved 29,000 jobs in North America. Japanese carmakers Toyota and Nissan have announced termination of 3,000 and 12,500 employees respectively. The automobile industry is undergoing a major technological transformation, which is leading to job losses in some areas. The total number of job cuts in the automotive industry in 2022 is estimated to be around 100,000. However, the number of job cuts in 2023 is expected to be even higher, as the industry continues to grapple with the aftermath of the pandemic, the war in Ukraine, and rising inflation.

'Pure speculation': British engine maker Rolls Royce denies reports of job cuts

The UK space agency has decided to back 'Rolls Royce holdings' to build a nuclear reactor-- for a planned base on the moon. The agency expects the British automotive and aerospace giant to have the reactor ready by 2029.

Rolls Royce wins UK space agency contract to make nuclear reactor for the moon

Rolls-Royce has secured a funding from UK Space Agency backing research by the British luxury carmaker into how nuclear power could be used to support a future moon base for astronauts.

In a statement, the aero-engine manufacturing business said that scientists and engineers at Rolls-Royce are working on the Micro-Reactor programme to develop technology that will provide power needed for humans to live and work on the Moon.&nbsp;

Nuclear power has the potential to "dramatically increase" the duration of future Lunar missions, the company said.&nbsp;It is important to note that all space missions rely on a power source to support systems for communications, science experiments and life-support.&nbsp;

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As per the press release, the UK Space Agency has announced £2.9 million of new funding for the project which will deliver an initial demonstration of a UK lunar modular nuclear reactor.&nbsp;This follows a £249,000 study funded by the UK Space Agency in 2022, the statement read.&nbsp;

Minister of State at the Department of Science, Innovation and Technology, George Freeman, said, “Partnerships like this, between British industry, the UK Space Agency and government are helping to create jobs across our £16 billion Space Tech sector and help ensure the UK continues to be a major force in frontier science.”

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As per Rolls-Royce, a reactor will be ready to send to the Moon by 2029.&nbsp;

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The partnership with Rolls-Royce comes after the UK Space Agency recently announced £51 million of funding available for UK companies to develop communication and navigation services for missions to the Moon.&nbsp;

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Rolls-Royce has secured a funding from UK Space Agency backing research by the British luxury carmaker into how nuclear power could be used to support a future moon base for astronauts.

Rolls-Royce has secured a funding from UK Space Agency backing research by the British luxury carmaker into how nuclear power could be used to support a future moon base for astronauts. In a statement, the aero-engine manufacturing business said that scientists and engineers at Rolls-Royce are working on the Micro-Reactor programme to develop technology that will provide power needed for humans to live and work on the Moon. Nuclear power has the potential to "dramatically increase" the duration of future Lunar missions, the company said. It is important to note that all space missions rely on a power source to support systems for communications, science experiments and life-support. Also Read | One arrested after Khalistani extremists vandalise Indian High Commission in UK As per the press release, the UK Space Agency has announced £2.9 million of new funding for the project which will deliver an initial demonstration of a UK lunar modular nuclear reactor. This follows a £249,000 study funded by the UK Space Agency in 2022, the statement read. Minister of State at the Department of Science, Innovation and Technology, George Freeman, said, “Partnerships like this, between British industry, the UK Space Agency and government are helping to create jobs across our £16 billion Space Tech sector and help ensure the UK continues to be a major force in frontier science.” Also Read | TikTok’s lesser-known sibling, CapCut, making waves in US. But is it safe? As per Rolls-Royce, a reactor will be ready to send to the Moon by 2029. Watch | After Iran-Saudi pact, China to play peacemaker in Ukraine war? The partnership with Rolls-Royce comes after the UK Space Agency recently announced £51 million of funding available for UK companies to develop communication and navigation services for missions to the Moon. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Nuclear reactor for moon base? UK space agency backs Rolls-Royce in its research

In pics: Rolls-Royce unveils its first electric car. Take a look

British car manufacturer Rolls Royce has unveiled its first fully electric car 'Spectre'. This two-door electric coupe is a spiritual successor to the Phantom Coupe.

Rolls Royce unveils its first fully electric car 'Spectre'

In pics: Rolls-Royce's 'Spirit of Innovation' is the world's fastest all-electric plane

According to Britain's iconic auto giant&nbsp;Rolls-Royce, the ‘Spirit of Innovation’ aircraft is the world’s fastest all-electric aircraft.

Rolls-Royce said the aircraft has already set three new world records while adding that it has informed the world air sports federation that the aircraft reached a top speed of 555.9 km per hour over 3 kilometres while smashing the existing record by 213.04 km per hour.

The company claimed the aircraft reached a top speed of 532.1 km per hour over 15 kilometres at UK's Boscombe Down testing site as it broke the fastest time to climb to 3,000 metres by 60 seconds with a time of 202 seconds.

<a href="https://www.wionews.com/world/trams-cable-cars-electric-ferries-how-cities-are-rethinking-transit-417760">Also Read:&nbsp;Trams, cable cars, electric ferries: How cities are rethinking transit</a>

"During its record-breaking runs, the aircraft clocked up a maximum speed of 623 km/h which we believe makes the ‘Spirit of Innovation’ the world’s fastest all-electric vehicle," it said.

Watch:&nbsp;Aston Martin plans to go electric

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/aston-martin-plans-to-go-electric-422346/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

"Following the world’s focus on the need for action at COP26, this is another milestone that will help make ‘jet zero’ a reality and supports our ambitions to deliver the technology breakthroughs," Warren East, CEO, Rolls-Royce said.

<a href="https://www.wionews.com/photos/worlds-largest-all-electric-plane-soars-in-the-air-for-the-first-time-301786#largest-all-electric-plane-301775">In Pics:&nbsp;World's largest all-electric plane soars in the air for the first time</a>

The company said the record-breaking feat was achieved through its 400kW electric powertrain and power-dense propulsion battery pack. The company said it hopes the Fédération Aéronautique Internationale (FAI)&nbsp;will certify the record while highlighting advances in "electrification of aerospace".

Phill O’Dell who was the test pilot and the director of flight operations said it was the highlight of his career while claiming it was a "momentous occasion". Rolls-Royce said it has learnt from the motorsport background of its partners.

(With inputs from Agencies)

According to Britain's iconic auto giant Rolls-Royce, the ‘Spirit of Innovation’ aircraft is the world’s fastest all-electric aircraft. Rolls-Royce said the aircraft has already set three new world records while adding that it has informed the world air sports federation that the aircraft reached a top speed of 555.

According to Britain's iconic auto giant Rolls-Royce, the ‘Spirit of Innovation’ aircraft is the world’s fastest all-electric aircraft. Rolls-Royce said the aircraft has already set three new world records while adding that it has informed the world air sports federation that the aircraft reached a top speed of 555.9 km per hour over 3 kilometres while smashing the existing record by 213.04 km per hour. The company claimed the aircraft reached a top speed of 532.1 km per hour over 15 kilometres at UK's Boscombe Down testing site as it broke the fastest time to climb to 3,000 metres by 60 seconds with a time of 202 seconds. Also Read: Trams, cable cars, electric ferries: How cities are rethinking transit "During its record-breaking runs, the aircraft clocked up a maximum speed of 623 km/h which we believe makes the ‘Spirit of Innovation’ the world’s fastest all-electric vehicle," it said. Watch: Aston Martin plans to go electric "Following the world’s focus on the need for action at COP26, this is another milestone that will help make ‘jet zero’ a reality and supports our ambitions to deliver the technology breakthroughs," Warren East, CEO, Rolls-Royce said. In Pics: World's largest all-electric plane soars in the air for the first time The company said the record-breaking feat was achieved through its 400kW electric powertrain and power-dense propulsion battery pack. The company said it hopes the Fédération Aéronautique Internationale (FAI) will certify the record while highlighting advances in "electrification of aerospace". Phill O’Dell who was the test pilot and the director of flight operations said it was the highlight of his career while claiming it was a "momentous occasion". Rolls-Royce said it has learnt from the motorsport background of its partners. (With inputs from Agencies)

‘Spirit of Innovation’: Rolls-Royce claims it has flown world’s fastest all-electric aircraft

Rolls-Royce on Wednesday announced its first fully electric car, the "Spectre", will be available in late 2023, the luxury BMW group brand adding that all its vehicles will be electric by 2030.

"This is not a prototype. It’s the real thing, it will be tested in plain sight and our clients will take first deliveries of the car in the fourth quarter of 2023," said CEO Torsten Mueller-Otvoes.

"I am proud to announce that Rolls-Royce is to begin the on-road testing programme for an extraordinary new product that will elevate the global all-electric car revolution and create the first -– and finest -– super-luxury product of its type," he added.

Also Read | <a href="https://www.wionews.com/business-economy/lucid-to-start-deliveries-of-electric-cars-with-range-exceeding-teslas-in-october-416769">Lucid to start deliveries of electric cars with range exceeding Tesla's in October</a>

Mueller-Otvoes noted that Charles Rolls (co-founder with Henry Royce) had "truly prophesied an electrified future for automobiles. In April 1900 he experienced an early electric motor car named the Columbia and declared its electric drive to be ideal".

With the increasing switch over to electric, "now is the time to change the course of the future of luxury," he added, with Rolls Royce seeing electric propulsion as perfectly adapted to the brand's ambitions.

The group had already presented two electric-powered prototype models.

In a video Rolls showed off the Spectre coupe, complete with the marque's trademark "Spirit of Ecstasy" bonnet sculpture. The Spectre is based on the aluminium chassis of its 2017 Phantom limousine launched in 2017.

Rolls-Royce on Wednesday announced its first fully electric car, the "Spectre", will be available in late 2023, the luxury BMW group brand adding that all its vehicles will be electric by 2030.

Rolls-Royce on Wednesday announced its first fully electric car, the "Spectre", will be available in late 2023, the luxury BMW group brand adding that all its vehicles will be electric by 2030. "This is not a prototype. It’s the real thing, it will be tested in plain sight and our clients will take first deliveries of the car in the fourth quarter of 2023," said CEO Torsten Mueller-Otvoes. "I am proud to announce that Rolls-Royce is to begin the on-road testing programme for an extraordinary new product that will elevate the global all-electric car revolution and create the first -– and finest -– super-luxury product of its type," he added. Also Read | Lucid to start deliveries of electric cars with range exceeding Tesla's in October Mueller-Otvoes noted that Charles Rolls (co-founder with Henry Royce) had "truly prophesied an electrified future for automobiles. In April 1900 he experienced an early electric motor car named the Columbia and declared its electric drive to be ideal". With the increasing switch over to electric, "now is the time to change the course of the future of luxury," he added, with Rolls Royce seeing electric propulsion as perfectly adapted to the brand's ambitions. The group had already presented two electric-powered prototype models. In a video Rolls showed off the Spectre coupe, complete with the marque's trademark "Spirit of Ecstasy" bonnet sculpture. The Spectre is based on the aluminium chassis of its 2017 Phantom limousine launched in 2017.

Rolls Royce announces fully electric car for late 2023

The luxury car maker Rolls-Royce has announced it's releasing its first fully electric car in the autumn of 2023 and says all its vehicles will be electric by 2030. It's given a heavily disguised peek at what the first electric vehicle looks like.

Rolls Royce begins tests on its first fully electric car 

Rolls-Royce’s first all-electric aircraft has completed its maiden flight, soaring across skies in the U.K. for around 15 minutes this week. Watch this report for more details.

All-Electric passenger plane to be ready by 2024

Rolls-Royce Motor Cars, which along with the wider luxury goods sector is recovering strongly from pandemic fallout, has launched a "Boat Tail" automobile -- tailor-made for just three ultra-wealthy clients.

With a rear resembling a yacht deck and opening up for alfresco dining, the Boat Tail's opulent design features also hand-crafted aluminium panels and Swiss timepieces.

Fashioned by Rolls' Coachbuild unit, the blue-painted car has been made for three clients who drove its design, according to Rolls-Royce Motor Cars chief executive Torsten Muller-Otvos.

"The client comes to us with an idea in mind, exactly what happened 100 years ago when clients commissioned the bodies they wanted to see," Muller-Otvos told AFP during the car's launch this week at the company's Goodwood headquarters near Chichester in southern England.

"It's not us defining what the car should look like, it really is as it was in the past, that the client defines what they want to see," he added.

Rolls-Royce Motor Cars, owned by German car giant BMW, revived the art of coachbuilding in 2017 with the Boat Tail's precursor "Sweptail".

Speculation about Sweptail costing some $13 million was "pretty close", Muller-Otvos confirmed, while reports suggest Boat Tail could be twice the price.

"We are never talking about prices in agreement with our clients," he stressed.

- Record sales -

The launch of Boat Tail comes after Rolls delivered its highest-ever first quarter sales in the marque's 116-year history.

Sales hit 1,380 cars across its models which include the Phantom and Ghost, up 62 percent on the same period last year before the pandemic began to take hold worldwide.

"We were massively hit by the pandemic," recalled the German boss, noting that sales dropped by around a quarter last year.&nbsp;

"Production for this year is fully booked. Demand continues to be very strong and not only Asia-driven. It is also very much United States-driven, Europe-driven."

Muller-Otvos, who has led the company since 2010, described the global picture for the entire luxury goods industry as "very promising" with "quite some money around to be spent" by the wealthy following lockdowns.

"Quite a lot of our clients said that Covid taught them that life can end easily tomorrow and now is time to enjoy your life."

He said the company is looking at launching a new coachbuilding project every other year.

"It won't be a big earner for the group but a very small addition to their model range," noted automotive specialist Andrew Graves.

"They have been approached by some customers to offer this service, same as other high brand manufacturers offer," the Bath University professor told AFP.

The cars "may well be a reasonable investment for the client" and "will be a talking point as a vanity purchase", he added.

- Green drive -

Aside from its niche projects, Rolls is on a path to having fully-electric cars in the current decade, mirroring moves by the global auto sector pressured by governments hoping to meet targets on reducing carbon emissions.

"It's clear on our agenda to improve sustainability of Rolls-Royce Motor Cars even further," said Muller-Otvos.

With the support of parent-group BMW, Rolls has managed to avoid the pandemic-fuelled semiconductor shortages affecting many automakers.

And fears that Brexit would cause disruption to British car manufacturing were dispelled by the Rolls chief executive.

Muller-Otvos said he was left "extremely pleased" by the last-minute trade deal agreed by London and European Union as the UK prepared to formally exit the bloc at the start of the year.&nbsp;

"That was great and for that reason we can easily export our products now, we can import parts. &nbsp;

"We haven't seen any major disruption."

Rolls-Royce Motor Cars, which along with the wider luxury goods sector is recovering strongly from pandemic fallout, has launched a "Boat Tail" automobile -- tailor-made for just three ultra-wealthy clients.

Rolls-Royce Motor Cars, which along with the wider luxury goods sector is recovering strongly from pandemic fallout, has launched a "Boat Tail" automobile -- tailor-made for just three ultra-wealthy clients. With a rear resembling a yacht deck and opening up for alfresco dining, the Boat Tail's opulent design features also hand-crafted aluminium panels and Swiss timepieces. Fashioned by Rolls' Coachbuild unit, the blue-painted car has been made for three clients who drove its design, according to Rolls-Royce Motor Cars chief executive Torsten Muller-Otvos. "The client comes to us with an idea in mind, exactly what happened 100 years ago when clients commissioned the bodies they wanted to see," Muller-Otvos told AFP during the car's launch this week at the company's Goodwood headquarters near Chichester in southern England. "It's not us defining what the car should look like, it really is as it was in the past, that the client defines what they want to see," he added. Rolls-Royce Motor Cars, owned by German car giant BMW, revived the art of coachbuilding in 2017 with the Boat Tail's precursor "Sweptail". Speculation about Sweptail costing some $13 million was "pretty close", Muller-Otvos confirmed, while reports suggest Boat Tail could be twice the price. "We are never talking about prices in agreement with our clients," he stressed. - Record sales - The launch of Boat Tail comes after Rolls delivered its highest-ever first quarter sales in the marque's 116-year history. Sales hit 1,380 cars across its models which include the Phantom and Ghost, up 62 percent on the same period last year before the pandemic began to take hold worldwide. "We were massively hit by the pandemic," recalled the German boss, noting that sales dropped by around a quarter last year. "Production for this year is fully booked. Demand continues to be very strong and not only Asia-driven. It is also very much United States-driven, Europe-driven." Muller-Otvos, who has led the company since 2010, described the global picture for the entire luxury goods industry as "very promising" with "quite some money around to be spent" by the wealthy following lockdowns. "Quite a lot of our clients said that Covid taught them that life can end easily tomorrow and now is time to enjoy your life." He said the company is looking at launching a new coachbuilding project every other year. "It won't be a big earner for the group but a very small addition to their model range," noted automotive specialist Andrew Graves. "They have been approached by some customers to offer this service, same as other high brand manufacturers offer," the Bath University professor told AFP. The cars "may well be a reasonable investment for the client" and "will be a talking point as a vanity purchase", he added. - Green drive - Aside from its niche projects, Rolls is on a path to having fully-electric cars in the current decade, mirroring moves by the global auto sector pressured by governments hoping to meet targets on reducing carbon emissions. "It's clear on our agenda to improve sustainability of Rolls-Royce Motor Cars even further," said Muller-Otvos. With the support of parent-group BMW, Rolls has managed to avoid the pandemic-fuelled semiconductor shortages affecting many automakers. And fears that Brexit would cause disruption to British car manufacturing were dispelled by the Rolls chief executive. Muller-Otvos said he was left "extremely pleased" by the last-minute trade deal agreed by London and European Union as the UK prepared to formally exit the bloc at the start of the year. "That was great and for that reason we can easily export our products now, we can import parts. "We haven't seen any major disruption."

Rolls-Royce drives up car luxury with 'Boat Tail'

Auto enthusiasts in Russia are in for a treat. Some of the most coveted vintage cars are on display at an exhibition in St. Petersburg. From classy Rolls Royce, Bentleys to Audis there is something for everyone.

A vintage cars' exhibition in Russia's St. Petersburg

Norway has suspended the sale of a Norwegian engine maker owned by Rolls-Royce Holdings to a Russian-controlled company while it assesses the security implications for the country’s navy and the civilian sector.

Norway halts Rolls-Royce asset sale on security grounds

Rolls-Royce has completed the first taxiing of its electric aircraft ahead of its first flight and an attempt to break the world record for the fastest electric aeroplane later this year.

World Business Watch: Rolls-Royce powers up all-electric aircraft

Britain's Rolls-Royce said on Sunday that it is proposing a two-week closure of operations of its civil aerospace unit over the summer as it manages costs due to the impact of the COVID-19 epidemic.

World Business Watch: Rolls-Royce Aerospace plans 2-week civil shutdown

British aero-engine maker Rolls-Royce Holdings Plc plans to temporarily close factories, reduce working hours and cut benefits as part of new cost-cutting measures, the Financial Times reported on Monday.

Rolls-Royce to temporarily close factories, cut benefits - FT

Watch today in World Business Watch: One of the world's biggest plane engine maker Rolls Royce shares trade at 16-year low value.

Plane engine maker Rolls Royce shares trade at 16-year low value

March 15 in history: Incorporation of Rolls-Royce Limited, Nationalisation of Iran's oil industry and more!

European aerospace giant <a href="https://www.wionews.com/business-economy/airbus-defence-unit-sees-cash-challenge-adopts-efficiency-plan-254715">Airbus </a>said Tuesday that it has reached an "agreement in principle" with French, British and <a href="https://www.wionews.com/world/us-top-court-sides-with-trump-on-immigrant-welfare-benefits-276959">US</a> authorities over corruption investigations, which might help it avoid expensive litigation.

Airbus has been the subject of corruption probes in all three countries and said it released the statement in response to press reports.

The Financial Times reported Monday that Airbus, which employs 134,000 staff and contributes significantly to the economic output of its major backers <a href="https://www.wionews.com/business-%26-economy/airbus-set-to-close-deal-for-majority-stake-in-bombardier-cseries-143078">France</a> and <a href="https://www.wionews.com/world/coronavirus-outbreak-deadly-virus-continues-to-spread-outside-china-276966">Germany</a>, might have to pay more than 3.0 billion euros&nbsp; to settle the corruption probes.

Also read:&nbsp;<a href="https://www.wionews.com/business-economy/airbus-beats-goal-with-863-jet-deliveries-in-2019-ousts-boeing-from-top-spot-271445">Airbus beats goal with 863 jet deliveries in 2019, ousts Boeing from top spot</a>

The affair began as an internal investigation and was a factor in a more than year-long executive shake-up at Airbus that ended in April 2019 when Guillaume Faury replaced Tom Enders as chief executive.

The <a href="https://www.wionews.com/world/eu-not-to-ban-huawei-in-europe-but-to-impose-strict-rules-european-commissioner-breton-277078">United Kingdom</a>'s Serious Fraud Office (SFO) and its French equivalent, the PNF, told AFP Tuesday that they would not comment on the statement or report.

"These agreements are made in the context of investigations into allegations of bribery and corruption as well as compliance with the <a href="https://www.wionews.com/business-economy/us-imposes-record-75-billion-tariffs-on-european-union-256583">US</a> International Traffic in Arms Regulations," Airbus said.

"They remain subject to approval by French and UK courts and (the) US court and regulator."

Also read:&nbsp;<a href="https://www.wionews.com/business-economy/sale-of-120-jets-worth-11-billion-finalised-airbus-188085">Sale of 120 jets worth $11 billion finalised: Airbus</a>

The amount of the potential settlement is roughly equivalent to the group's 2018 net profit.

Airbus is to release its 2019 results on February 13, when the company may provide more detail on the affair's potential cost.

"For legal reasons, Airbus cannot make any comments on the details of its discussions with the investigating authorities," the statement said.

Airbus has been under investigation for financial irregularities in France and Britain, having approached the authorities itself in 2016.

The US also launched a probe into the company later.

Also read:&nbsp;<a href="https://www.wionews.com/business-economy/airbus-ups-estimate-of-20-year-demand-for-new-planes-250372">Airbus ups estimate of 20-year demand for new planes</a>

In 2013, Airbus found irregularities, notably in commission levels, in some transactions carried out by its Strategy and Marketing Organization unit.

Commercial agents for some transactions had not been identified to government export aid agencies.

Meanwhile, US authorities suspect that Airbus did not obtain necessary approval for the export of some military equipment that contained US components.

Airbus manufactures civilian and military aircraft from drones and helicopters to long-haul airliners, along with rockets, satellites and communications systems.

The procedure launched by Airbus in France should allow it to negotiate the amount of possible fines without prolonged legal proceedings that could make the final bill much higher.

The strategy has already been used by British engine maker <a href="https://www.wionews.com/business-%26-economy/rolls-royce-soars-as-ceo-east-sets-ambitious-mid-term-goals-144599">Rolls-Royce</a>, which was ordered in early 2017 to pay 763 million euros to Brazilian, British and US authorities in connection with corruption that it had itself reported to the SFO in late 2012.

<hr />

European aerospace giant Airbus said Tuesday that it has reached an "agreement in principle" with French, British and US authorities over corruption investigations, which might help it avoid expensive litigation.

European aerospace giant Airbus said Tuesday that it has reached an "agreement in principle" with French, British and US authorities over corruption investigations, which might help it avoid expensive litigation. Airbus has been the subject of corruption probes in all three countries and said it released the statement in response to press reports. The Financial Times reported Monday that Airbus, which employs 134,000 staff and contributes significantly to the economic output of its major backers France and Germany, might have to pay more than 3.0 billion euros to settle the corruption probes. Also read: Airbus beats goal with 863 jet deliveries in 2019, ousts Boeing from top spot The affair began as an internal investigation and was a factor in a more than year-long executive shake-up at Airbus that ended in April 2019 when Guillaume Faury replaced Tom Enders as chief executive. The United Kingdom's Serious Fraud Office (SFO) and its French equivalent, the PNF, told AFP Tuesday that they would not comment on the statement or report. "These agreements are made in the context of investigations into allegations of bribery and corruption as well as compliance with the US International Traffic in Arms Regulations," Airbus said. "They remain subject to approval by French and UK courts and (the) US court and regulator." Also read: Sale of 120 jets worth $11 billion finalised: Airbus The amount of the potential settlement is roughly equivalent to the group's 2018 net profit. Airbus is to release its 2019 results on February 13, when the company may provide more detail on the affair's potential cost. "For legal reasons, Airbus cannot make any comments on the details of its discussions with the investigating authorities," the statement said. Airbus has been under investigation for financial irregularities in France and Britain, having approached the authorities itself in 2016. The US also launched a probe into the company later. Also read: Airbus ups estimate of 20-year demand for new planes In 2013, Airbus found irregularities, notably in commission levels, in some transactions carried out by its Strategy and Marketing Organization unit. Commercial agents for some transactions had not been identified to government export aid agencies. Meanwhile, US authorities suspect that Airbus did not obtain necessary approval for the export of some military equipment that contained US components. Airbus manufactures civilian and military aircraft from drones and helicopters to long-haul airliners, along with rockets, satellites and communications systems. The procedure launched by Airbus in France should allow it to negotiate the amount of possible fines without prolonged legal proceedings that could make the final bill much higher. The strategy has already been used by British engine maker Rolls-Royce, which was ordered in early 2017 to pay 763 million euros to Brazilian, British and US authorities in connection with corruption that it had itself reported to the SFO in late 2012.

Airbus strikes anti-corruption deals with France, UK, US

Rolls Royce Motor Cars, the maker of ultra-luxury automobiles, launched its first-ever Sport Utility Vehicle (SUV) Cullinan in India on Thursday. The SUV derives its name Cullinan, from one of the largest diamonds ever found.

The car is powered by a 6.75L V12, twin turbo engine that delivers 563 horsepower and 850 Nm of peak torque. The company is calling it an 'Effortless Everywhere SUV' that feels equally at-home while off-roading and while navigating the city.

Rolls Royce executives said the vehicle underwent design and testing for several years, across extreme climatic conditions. The company claims that vehicle was extensively tested in icy conditions, the deserts of Dubai and Scottish Highlands.

The Cullinan comes as an addition to the line-up of five cars that the British carmaker had launched in the last five years. The past launches included the two-door GT, the Dawn, Wraith, Ghost and Phantom 8.

One glance at the car and the iconic design elements of the Roll Royce family such as the large front grille with the RR logo, 'Spirit of Ecstasy' hood ornament above the logo are unmissable.

As an additional accessory, buyers can also opt for twin electronically deployed seats that emerge out of the base of the boot along with a cocktail table in the middle.

The car is available in a staggering 44,000 colour options and the executives from the company say that they also offer custom-colours based on customer choices. However, if you’re looking to get your hands on one, the waiting time is between nine and 11 months. Buyers in India would also have to shell out around 250 per cent of import duty on the luxury car.

Rami Jourdi, Regional PR Manager for the company, said that there has been an overwhelming response in India for the Cullinan and customers have already placed orders. He also added that 2018 was a very successful year for the company with 4,107 cars delivered to customers. "When compared to 2017, we grew 22per cent and India was a part of the success," he added.

Speaking of customers who had expressed interest in the Cullinan he said, most of the customers are new and many of them are ones who added this car to their Rolls Royce collection. He also emphasized on the luxury brand’s aim to expand across India beyond their existing dealership and showrooms in Chennai, Delhi and Hyderabad. South India continues to be an important market for Rolls Royce, he added.

Rolls Royce Motor Cars, the maker of ultra-luxury automobiles, launched its first-ever Sport Utility Vehicle (SUV) Cullinan in India on Thursday. The SUV derives its name Cullinan, from one of the largest diamonds ever found.

Rolls Royce Motor Cars, the maker of ultra-luxury automobiles, launched its first-ever Sport Utility Vehicle (SUV) Cullinan in India on Thursday. The SUV derives its name Cullinan, from one of the largest diamonds ever found. The car is powered by a 6.75L V12, twin turbo engine that delivers 563 horsepower and 850 Nm of peak torque. The company is calling it an 'Effortless Everywhere SUV' that feels equally at-home while off-roading and while navigating the city. Rolls Royce executives said the vehicle underwent design and testing for several years, across extreme climatic conditions. The company claims that vehicle was extensively tested in icy conditions, the deserts of Dubai and Scottish Highlands. The Cullinan comes as an addition to the line-up of five cars that the British carmaker had launched in the last five years. The past launches included the two-door GT, the Dawn, Wraith, Ghost and Phantom 8. One glance at the car and the iconic design elements of the Roll Royce family such as the large front grille with the RR logo, 'Spirit of Ecstasy' hood ornament above the logo are unmissable. As an additional accessory, buyers can also opt for twin electronically deployed seats that emerge out of the base of the boot along with a cocktail table in the middle. The car is available in a staggering 44,000 colour options and the executives from the company say that they also offer custom-colours based on customer choices. However, if you’re looking to get your hands on one, the waiting time is between nine and 11 months. Buyers in India would also have to shell out around 250 per cent of import duty on the luxury car. Rami Jourdi, Regional PR Manager for the company, said that there has been an overwhelming response in India for the Cullinan and customers have already placed orders. He also added that 2018 was a very successful year for the company with 4,107 cars delivered to customers. "When compared to 2017, we grew 22per cent and India was a part of the success," he added. Speaking of customers who had expressed interest in the Cullinan he said, most of the customers are new and many of them are ones who added this car to their Rolls Royce collection. He also emphasized on the luxury brand’s aim to expand across India beyond their existing dealership and showrooms in Chennai, Delhi and Hyderabad. South India continues to be an important market for Rolls Royce, he added.

Rolls Royce unveils its first-ever SUV Cullinan in India; priced at Rs 6.95 crore

British engine maker Rolls-Royce slumped into a record &pound;4-billion annual net loss in 2016, ravaged by a Brexit-fuelled collapse in the pound and a corruption fine.

The loss after tax, equivalent to $5.0 billion or 4.8 billion euros, contrasted with a slender profit of &pound;84 million in the 2015, the company said in a results statement.

Rolls took a vast &pound;4.4-billion hit from the drop in the value of the pound in the wake of Britain&#39;s shock EU exit referendum, alongside a &pound;671-million penalty to settle bribery allegations.

The London-listed company, whose engines are used in Airbus and Boeing aircraft, added that underlying pre-tax profits almost halved to &pound;813 million.

Rolls-Royce, which also makes power systems for use on land and at sea, stated it was on track with efforts to slash costs and expected a &quot;modest&quot; performance improvement in 2017.

&quot;2016 has been an important year as we accelerated the transformation of Rolls-Royce,&quot; said chief executive Warren East, who has overseen a radical restructuring.&nbsp;

&quot;We have made operational progress and performed ahead of our expectations for the year as a whole.

&quot;At the same time, we have delivered major changes to our management and processes and, while we have made good progress in our cost cutting and efficiency programmes, more needs to be done to ensure we drive sustainable margin improvements within the business.&quot;

The huge annual loss also follows a tough past few years for Rolls, which faced a string of profit warnings on the back of weak demand in its aerospace and marine markets.

The company was fined &pound;671 million in January to settle bribery and corruption claims probed by Britain&#39;s Serious Fraud Office and authorities in Brazil and the United States.

Rolls will pay the penalty over five years but has taken the full cost as an impairment charge against its 2016 profits.

Pound slump

The pound has meanwhile fallen by almost a fifth against the dollar since the Brexit referendum that was held last June.

The slide is pushing up the costs of imported goods, sending British annual inflation to the highest levels in 2.5 years.

Official data Tuesday showed 12-month consumer price inflation rising to 1.8 per cent in January -- the highest level since June 2014.

&quot;Surging inflation, in particularly food and fuel prices, are eating into disposable incomes and in turn that is starting to hit spending,&quot; said ING bank economist James Smith.

&quot;We expect to see further evidence of this in this week&#39;s retail sales data.&quot;

Looking ahead for Rolls, East told reporters that 2017 would be &quot;challenging&quot; for the embattled group.

&quot;We have to look after the short term or there won&#39;t be a long term.&quot;

In morning deals, Rolls-Royce shares slid but analysts described the move as a &quot;kneejerk&quot; reaction.

Around 1000 GMT, the stock was down 4.9 per cent at 704.50 pence, topping the losers&#39; board on London&#39;s benchmark FTSE 100 index.

Analysts remained bullish over the firm&#39;s performance.

&quot;The company chalked up one of the biggest losses in corporate history -- but it&#39;s not as bad as it looks and that is perhaps why we&#39;re seeing the stock coming back a tad after the initial kneejerk,&quot; said Neil Wilson at trading firm ETX Capital.

&quot;Rolls took a &pound;4.4-billion hit from the weak pound following the EU referendum last June and it was fined &pound;671 million to settle bribery charges. Strip those out and the results do not look half as bad.&quot;

(AFP)

The huge annual loss also follows a tough past few years for Rolls on the back of weak demand in aerospace and marine markets

British engine maker Rolls-Royce slumped into a record £4-billion annual net loss in 2016, ravaged by a Brexit-fuelled collapse in the pound and a corruption fine. The loss after tax, equivalent to $5.0 billion or 4.8 billion euros, contrasted with a slender profit of £84 million in the 2015, the company said in a results statement. Rolls took a vast £4.4-billion hit from the drop in the value of the pound in the wake of Britain's shock EU exit referendum, alongside a £671-million penalty to settle bribery allegations. The London-listed company, whose engines are used in Airbus and Boeing aircraft, added that underlying pre-tax profits almost halved to £813 million. Rolls-Royce, which also makes power systems for use on land and at sea, stated it was on track with efforts to slash costs and expected a "modest" performance improvement in 2017. "2016 has been an important year as we accelerated the transformation of Rolls-Royce," said chief executive Warren East, who has overseen a radical restructuring. "We have made operational progress and performed ahead of our expectations for the year as a whole. "At the same time, we have delivered major changes to our management and processes and, while we have made good progress in our cost cutting and efficiency programmes, more needs to be done to ensure we drive sustainable margin improvements within the business." The huge annual loss also follows a tough past few years for Rolls, which faced a string of profit warnings on the back of weak demand in its aerospace and marine markets. The company was fined £671 million in January to settle bribery and corruption claims probed by Britain's Serious Fraud Office and authorities in Brazil and the United States. Rolls will pay the penalty over five years but has taken the full cost as an impairment charge against its 2016 profits. Pound slump The pound has meanwhile fallen by almost a fifth against the dollar since the Brexit referendum that was held last June. The slide is pushing up the costs of imported goods, sending British annual inflation to the highest levels in 2.5 years. Official data Tuesday showed 12-month consumer price inflation rising to 1.8 per cent in January -- the highest level since June 2014. "Surging inflation, in particularly food and fuel prices, are eating into disposable incomes and in turn that is starting to hit spending," said ING bank economist James Smith. "We expect to see further evidence of this in this week's retail sales data." Looking ahead for Rolls, East told reporters that 2017 would be "challenging" for the embattled group. "We have to look after the short term or there won't be a long term." In morning deals, Rolls-Royce shares slid but analysts described the move as a "kneejerk" reaction. Around 1000 GMT, the stock was down 4.9 per cent at 704.50 pence, topping the losers' board on London's benchmark FTSE 100 index. Analysts remained bullish over the firm's performance. "The company chalked up one of the biggest losses in corporate history -- but it's not as bad as it looks and that is perhaps why we're seeing the stock coming back a tad after the initial kneejerk," said Neil Wilson at trading firm ETX Capital. "Rolls took a £4.4-billion hit from the weak pound following the EU referendum last June and it was fined £671 million to settle bribery charges. Strip those out and the results do not look half as bad." (AFP)

Brexit- and penalty-hit Rolls-Royce slumps to record $5 billion net loss

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