The son of Indonesia’s former president did not receive cash and a luxury car in return for business in the country from Rolls-Royce Holdings Plc, Europe’s largest maker of aircraft engines, his lawyer said.
Sulzer Chief Executive Officer Klaus Stahlmann formed new divisions for the pumpmaker as he moulds ambitions around a sleeker company ahead of the anticipated sale of a unit making coatings for aircraft engines.
Almost 400 General Electric Co. aircraft engines must be inspected more frequently for cracks to prevent failures, federal aviation regulators told U.S. airlines following “urgent” recommendations by a safety board.
Safran SA , Europe’s second-largest maker of aircraft engines, said profit rose 29 percent last year as it benefited from growth in defense. The company forecast its operating margin would top 10 percent by 2012.
General Electric Co.’s decision to hand control of the rapidly growing oil and gas division to Lorenzo Simonelli is fueling speculation that its youngest top executive is a leading candidate to someday run the company.
Rolls-Royce Holdings Plc, the world’s second-largest maker of commercial aircraft engines, predicted rising profit for this year, extending its streak of annual gains into a second decade as airliner demand booms.
European stocks fell to a three- week low, led by a selloff in banks, as the leader of Italy’s Democratic Party ruled out the possibility that rival politicians will agree on a broad coalition government.