Daimler AG, the world’s third- biggest maker of luxury cars, will sell a 50 percent stake valued at 1.9 billion pounds ($3.2 billion) in an engine joint venture to partner Rolls-Royce Holdings Plc. to invest in its automotive and truck businesses.
Investors are pulling money out of exchange-traded funds that buy bonds in the U.S., with the biggest outflows from government securities as they shift into stocks, signaling a willingness to delve into riskier assets.
Rolls-Royce Holdings Plc, Europe’s largest maker of commercial jet engines, said the U.S. Department of Justice has joined U.K. fraud prosecutors in an investigation into bribery and corruption at the company.
Cobham Plc, the world’s largest maker of airborne refueling equipment, said it notified the U.S. Department of Justice of possible wrongdoing by a satellite communications unit in Asian business dealings.
Cockpit technology to cut the risk of on-ground airport collisions is moving toward commercial adoption as Honeywell International Inc. targets business jets like those favored by chief executive officers.
A former engineer for defense contractors was charged with trying to ship military documents to Iran, including materials related to the U.S. Air Force’s F35 Joint Strike Fighter program and jet engines.
When Larry Robbins was a boy in the Chicago suburbs, his father, Sheldon, worked two jobs and wasn’t around much. If the young Robbins wanted to see him on weekends, he had to travel to Arlington Park, a nearby horse-racing track that his dad ran. During those Saturday visits, his father taught him how to handicap horses. One lesson: Know the horse and the race. Was the track dry or muddy? Did the horse win because he was fast or because the competition was lousy?