British aero-engine manufacturer Rolls Royce has announced that it is to back $1.7 billion of its shares.
British aero-engine manufacturer Rolls Royce has announced that it is to back $1.7 billion of its shares. Investors were rattled by a profit warning in January and the cancellation of an order of 70 airbuses by UAE earlier this month, but the company says it is on course to return to growth next year. It is not planning any acquisitions, hence the share purchase. Experts say this is good news for investors as it signals tight capital discipline by the company. Read the full story.
