Rolls-Royce Holdings

LONDON—The company that pioneered the commercial jet engine and currently powers close to half of the world’s biggest airliners is embarking on its latest attempt to pull itself out of a decadelong crisis.  Tufan Erginbilgic, a former oil-industry executive, took over as chief executive of British engine maker Rolls-Royce Holdingsin January. The company was reeling from the pandemic after previously suffering through years of huge costs stemming from a problematic engine. What's NewsSee MoreWhat's News LONDON—The…

As humanity resets its gaze toward Moon, British aerospace company Rolls-Royce Holdings is continuing its work on developing nuclear power sources for spaceflight and exploration. Today, the company announced funding from the U.K. Space Agency to further research and develop a nuclear reactor that’s meant to power a future base on the Moon.The U.K. Space Agency provided Rolls-Royce Holdings with £2.9 million, which isabout $3.5 million USD, according to a press release from the agency. Rolls-Royce elaborated in its…

LONDON—Embattled British aircraft-engine maker Rolls-Royce Holdings RYCEY -0.76% PLC has embarked on a strategic review led by its new chief executive in a fresh effort to turn the company around. Tufan Erginbilgic, who took over the top job at Rolls-Royce last month, said the company was drawing up a new transformation plan in which it will decide in which segments of its business it would continue to invest. The CEO said details would be…

The U.S. is pushing to upgrade its 60-year-old fleet of strategic bombers to keep them flying into the second half of the 21st century in an effort to deter potential adversaries such as China and Russia.Air Force officials and military experts have said the refresh of the B-52 bomber—a long-range jet built by Boeing Co. BA 1.08% that can carry large loads of conventional and nuclear weapons—is crucial to providing an effective deterrent. The B-52 revamp could cost $11.8…

American Airlines Group Inc. AAL 1.11% agreed to buy 20 planes from Boom Supersonic, betting on the future of an ultra-fast plane that is still years away. American put down a nonrefundable deposit on its initial 20 aircraft, known as the Overture, and has the option to purchase 40 more, the companies said Tuesday. The companies didn’t disclose additional financial details of the transaction. Aerospace startup Boom is…

LONDON— Rolls-Royce Holdings RYCEY -5.53% PLC is offering U.K. staff a one-time payment of £2,000, equivalent to about $2,450, hoping the bonus will help ease pressure from union officials and employees over rising inflation while keeping a lid on the jet-engine maker’s costs ahead of an uncertain economic future. The move is one of many approaches companies are taking to address soaring inflation that has unions and workers in many…

KPMG LLP agreed to pay a fine after the Financial Reporting Council found shortfalls in its audit of Rolls-Royce Holdings PLC, the British jet engine manufacturer that settled bribery allegations in 2017. The U.K. audit regulator on Tuesday said it imposed sanctions of £3.4 million—equivalent to $4.2 million—against the professional-services firm and £112,500 against audit partner Anthony Sykes. The investigation, which the FRC announced in 2017, focused on…