Rolls-Royce CEO cuts 4,600 jobs

June 14 2018 16:24:50

Rolls-Royce CEO cuts 4,600 jobs

LONDON

Rolls-Royce is to cut 4,600 jobs over two years in the latest attempt by boss Warren East to cut costs and make Britain’s best known engineering company more profitable and dynamic.

East has overhauled the since he took charge in 2015 but the new cuts come as the group grapples with an aero-engine problem that has grounded planes and angered clients.

The announcement marks the biggest round of job cuts since the company was forced to retrench during the aviation crisis that followed the 9/11 attacks in the U.S. in 2001.

Treasury raises $2.5 billion via lease certificate issuance

Plan to renationalize UK railways gets green light

Central Bank once again keeps interest rate on hold at 50 pct

Turkish households solely powered by wind and solar

Consumer confidence weakens in November, shows TÜİK data

Number of EVs on Türkiye’s roads exceeds 150,000

Indian billionaire Gautam Adani charged with fraud

WORLD

ICC issues arrest warrants for Israeli Premier Netanyahu, Gallant, Deif

In a landmark move, the International Criminal Court on Thursday announced it had issued arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former Defense Minister Yoav Gallant over war crimes it accuses them of carrying out in Palestinian territories, including Gaza.

ECONOMY

Treasury raises $2.5 billion via lease certificate issuance

The Treasury and Finance Ministry has issued lease certificates in the international capital markets with a size of $2.5 billion and a maturity of 5.5 years.

SPORTS

Türkiye heads to Nations League playoffs after Montenegro loss

Türkiye spurned the opportunity to finish atop its group in the UEFA Nations League and qualify for League A directly with a 3-1 loss at Montenegro on Nov. 19 night.