Russia’s military intervention in Ukraine threatens to derail energy exploration in a region that holds a quarter of the world’s natural gas reserves, weigh on currencies and force companies to work to contain the damage.
Rolls-Royce Holdings Plc said sales won’t grow this year for the first time in a decade as lower demand for defense equipment cuts into civil-aviation sales, sending the stock tumbling the most in more than 13 years.
U.K. stocks fell for the first time in seven days as Tate & Lyle Plc and Rolls-Royce Holdings Plc published disappointing forecasts, while data showed U.S. retail sales declined in January and jobless-benefit claims increased.
Rolls-Royce Holdings Plc, the second- largest maker of aircraft engines, said it has ended talks to take over Finland’s Waertsilae Oyj to boost non-aerospace sales. Waertsilae jumped the most in more than two years.
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.
Rolls-Royce Holdings Plc, Europe’s largest maker of commercial aircraft engines, said the U.K. Serious Fraud Office has begun a formal investigation related to potential wrongdoing in business dealings in Asia.
U.S. companies including Ford Motor Co. and Microsoft Corp. are poised to boost business investment to a record in 2014, using a growing cash hoard to propel corporate spending past last year’s $2 trillion.
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.