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Aero-engine maker Rolls-Royce seeks $2.6 bn in make-or-break share issue

At stake is the future of a company which has been at the heart of manufacturing in Britain for more than 100 years

Rolls Royce, Force motors
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Investors are expected to back the rights issue, supporting CEO Warren East's plan to cut 9,000 jobs and close factories to adjust to a lower level of demand from airline customers

Reuters
Aero-engine maker Rolls-Royce will ask shareholders on Tuesday for 2 billion pounds ($2.6 billion) in a make-or-break attempt to survive the Covid-19 pandemic, which has stopped planes flying and hammered its finances.
 
At stake is the future of a company which has been at the heart of manufacturing in Britain for more than 100 years, making engines that powered World War Two bombers and still drive the country's fighter jets and nuclear submarines.
 
Investors are expected to back the rights issue, supporting CEO Warren East's plan to cut 9,000 jobs and close factories to adjust to a lower level of

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First Published: Oct 26 2020 | 8:03 PM IST

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