|Bid||600.00 x 0|
|Ask||775.00 x 0|
|Day's range||698.60 - 718.40|
|52-week range||679.80 - 1,003.50|
|Beta (3Y monthly)||0.62|
|PE ratio (TTM)||N/A|
|Earnings date||28 Feb 2020|
|Forward dividend & yield||0.12 (1.69%)|
|1y target est||974.81|
Momentum is sticky and persists for longer than investors tend to anticipate. The downside of this is that stocks with recent negative momentum are likely to c8230;
(Bloomberg) -- Rolls-Royce Holdings Plc is pitching nuclear reactors as the most effective way of powering the production of carbon-neutral synthetic aviation fuel without draining global electricity grids.Drawing on technology developed for nuclear-powered submarines, the small modular reactors or SMRs could be located at individual plants to generate the large amounts of electricity needed to secure the hydrogen used in the process, according to Chief Executive Officer Warren East.Synthetics and biofuels are likely to become the mainstay of aviation in coming decades, East said, providing liquid propellants for the next generation of aero-engines before the advent of all-electric alternatives. Reactors that could power the hydrogen extraction are small enough to be transported by truck and would occupy a building one-10th the size of a nuclear power station.An SMR attached to a synthetic fuel plant would “provide a very competitive solution,” East said in a briefing at the Aviation Club in London. Electricity costs would be 30% lower than for a large nuclear facility, matching wind power, with the modular approach allowing parts to be made on a factory production line.So-called electrofuels are synthesized using carbon dioxide or carbon monoxide captured from sources such as cement production, together with hydrogen derived from water via electrolysis, itself powered by sustainable electricity sources such as wind, solar or nuclear. In the future, direct carbon capture from the atmosphere could sever any link with fossil sources.London-based Rolls-Royce, Europe’s biggest maker of jetliner engines, would partner with a petrochemical specialist or alternative-energy startup to develop the technology, East said.The proposals face significant obstacles, including widespread public concern about radiation leaks and the safe disposal of nuclear waste, as well as question marks over U.K. plans to revive the sector after Hitachi Ltd. and Toshiba Corp. withdrew from major projects.Rolls aims to minimize regulatory barriers by building an initial network of 16 SMRs on the sites of former U.K. nuclear power stations still approved for atomic use.The plants, costing 1.8 billion pounds ($2.4 billion) apiece, would feed the national grid and come online from the 2030s, with all complete by 2050. (Updates with proposed rollout plan in final two paragraphs.)To contact the reporter on this story: Christopher Jasper in London at email@example.comTo contact the editors responsible for this story: Anthony Palazzo at firstname.lastname@example.org, Andrew Noël, John BowkerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The UK's Serious Fraud Office (SFO) has launched a bribery investigation into Glencore , adding to legal troubles that have hit the shares of one of the world's biggest miners and commodity traders. The SFO said on Thursday it had opened an investigaton into suspicions of bribery in the conduct of business by the Glencore group of companies, its officials, employees, agents and associated persons in June.
The main aim of stock picking is to find the market-beating stocks. But the main game is to find enough winners to...
Budget airline Norwegian Air is ending flights from Copenhagen and Stockholm to the United States and Thailand due to weak demand and technical problems affecting the engines on its Boeing 787 Dreamliners, it said on Wednesday. Flights between Oslo and the United States would continue, while routes between Norway and Thailand were under review, it said, the latest initiative to cut costs and restore profits after rapid expansion left the carrier weighed down by debt. "Scandinavia isn't big enough to maintain intercontinental flights from Oslo, Stockholm and Copenhagen," Senior Vice President Commercial Matthew Wood said in a statement.
The board of Rolls-Royce must urgently address its engine performance problems, the head of Dubai's Emirates said, as the world's largest buyer of wide-body jets weighs up who will power its order of Boeing 787 jets. Emirates agreed to buy its first 787 Dreamliners in a last-minute, $9 billion deal at the Dubai Airshow on Wednesday, without specifying what engine would power it, while reducing its order for the U.S. planemaker's delayed 777X model. The 787s, which can take either Rolls or rival GE Aviation's GEnx engines, will be delivered to Emirates in 2023, a year later than a tentative purchase plan outlined two years ago.
Loss-making Norwegian Air has appointed Jacob Schram as chief executive to take charge of the budget carrier's restructuring as it struggles with a low-cost, long-haul model in an overcrowded industry. Schram, who does not have a background in aviation, joins Norwegian from management consulting company McKinsey and was previously a top executive in the petrol retail industry, Norwegian's board said on Wednesday.
Boeing Co won fresh support for its grounded 737 MAX at the Dubai Airshow on Tuesday as airlines laid out plans to buy up to 50 of the jets worth $6 billion at list prices, a day after securing the first firm order since a safety ban in March. Kazakhstan flag carrier Air Astana said it had signed a letter of intent to order 30 Boeing 737 MAX 8 jets for its recently launched FlyArystan low-cost subsidiary. Such draft deals can take time to turn into final contracts but the signing gave embattled Boeing a public boost as it faces concerns over increased regulatory scrutiny following two fatal accidents that led to the eight-month-old grounding.
I think these two FTSE 100 (INDEXFTSE:UKX) shares could offer better growth potential and value for money than Bitcoin.
Gulf airlines Emirates and Air Arabia spent a combined $30 billion at list prices on Airbus jetliners as the Dubai Airshow burst into life on Monday, while Boeing won a symbolic first official order for the 737 MAX since its grounding in March. Emirates threw its weight behind the Airbus A350 with an expanded order for 50 jets worth $16 billion, but shelved plans to order the slightly smaller A330neo as the Middle East’s largest carrier embarked on a more diversified fleet structure.
Air New Zealand Ltd said on Monday about 14,000 customers would be affected by cancellations this summer because of ongoing Rolls-Royce engine checks on its Boeing 787-9 aircraft. The national carrier, which has 10 Trent 1000 engines on its 787-9 fleet, said the schedule changes were "now unavoidable", adding that further changes may also be needed. Rolls-Royce has been struggling to fix an issue on blades on the TEN variant, causing more and more passengers face disruptions due to checks and repair work.
An eight-month crisis over the grounding of Boeing's 737 MAX jets and widespread industrial delays are setting an unpredictable backdrop to next week's Dubai Airshow, with some airlines reviewing fleet plans even as others look for bargains. Top of their agenda will be the worldwide grounding of the 737 MAX in the wake of two deadly crashes. Investors who have pushed up Boeing shares believe the planemaker is turning a corner after the eight month grounding, with the company predicting commercial flights in January.
The FTSE 100 (INDEXFTSE: UKX) aerospace engineering giant Roll-Royce Holding plc (LON: RR) has seen its share price plummet. Andy Ross looks at whether that means now could be a good time to buy the shares.
(Bloomberg Opinion) -- The high-pressure turbine blades in a Trent 1000 passenger jet engine have to withstand temperatures far above the melting point of the nickel alloy from which they’re made. It’s a fiendish technical challenge for the engine’s British manufacturer, Rolls-Royce Holdings Plc — comparable to trying to stop an ice cube melting inside a kitchen oven on full blast. The solution found by the company’s engineers was to blow cool air through tiny holes in the blades. Unfortunately this clever approach has encountered some unexpected problems.Boeing 787 aircraft operated by British Airways, Norwegian Air Shuttle, Virgin Atlantic and others have been grounded in recent months for inspections and repairs because the Trent 1000 engine blades have been degrading faster than anticipated. It’s the type of problem that’s becoming common in the industry as the demands placed on engines become ever greater.The expense of dealing with these things is rising too. Last week, Rolls-Royce quantified the cost of fixing various Trent 1000 issues at 2.4 billion pounds ($3.1 billion), a cash outflow the debt-laden manufacturer can ill afford.Few inventions have done more to transform our life over the past century than jet engines. They’ve let people travel faster and further, and they’re remarkably safe. Passenger fatalities like the one caused by a turbine failure on a Southwest Airlines flight last year are rare. Developed at enormous expense and using innovative new materials, the most recent “powerplants” (to use engines’ industry name) are comparatively quiet and fuel efficient.Yet these innovations have taken the technology closer to its technical limits and reliability issues have crept in. “By pushing the envelope on thrust and efficiency, things have started to go wrong elsewhere in the system,” says Nick Cunningham at Agency Partners. This is worrying because companies are under pressure to build even more efficient propulsion systems to curb carbon emissions. Rolls-Royce’s problems appear the most serious — some 40 787s powered by its engines are parked — but this is an industry-wide issue. Forced to ground planes and adjust flight schedules, airlines have resorted to leasing replacement aircraft and have told engine manufacturers to pay compensation.In September Tim Clark, the boss of Emirates, said manufacturers are delivering aircraft that don’t do what was promised. “Give us airframes and engines that work from day one. If you can’t do it, don’t produce them,” he said.The laws of science aren’t the only thing testing the engine makers. Airbus SE and Boeing Co. have brought several new passenger jets to market in quick succession and their powerplant suppliers have had to ramp up production rapidly. A lot of new demand is from emerging markets where dusty or polluted air can put additional strain on engines.Airbus production was thrown into chaos last year by engine glitches involving Pratt & Whitney’s geared turbofan (GTF) for the A320neo, Airbus’s top-selling jet. More recently the launch of Boeing’s 777x wide-body aircraft was pushed to next year after the premature wearing out of a General Electric engine component.It’s one thing for an engine to miss tough production targets, but quite another for engines to fail once they’re in service. “Engine manufacturers have always had teething problems but in four decades I’ve never seen anything like the list of technical issues they’re been having lately,” says John Strickland, director of JLS Consulting. This month India threatened to ground scores of Airbus A230neo jets operated by domestic carrier Indigo unless the Pratt engines were replaced by the end of January. The warning followed several incidents of engines shutting down in-flight.In October Lufthansa AG subsidiary Swiss temporarily grounded its Airbus A220(1) fleet so the Pratt engines could be inspected after a spate of powerplant failures (the debris from one such incident was recovered from a French forest last week). Since then Canadian regulators ordered the same aircraft not to operate at full power above a specified altitude.About 70% of airlines and lessors surveyed by Citi Research said groundings caused by engine issues were a key concern. Some are looking to operate mixed fleets to lessen the risk of one engine type being grounded. While that’s prudent, it’s more expensive than using a single type of equipment.The risk for engine manufacturers is that reliability issues cost them market share. Earlier this year Air New Zealand switched an order for 787 jet engines to GE after problems with its Rolls-Royce kit. Indigo placed a $20 billion order with the GE/Safran engine joint venture rather buy from Pratt (Pratt claimed the decision was price-related).The problems haven’t affected all new technologies. Rolls-Royce’s XWB powerplant for the Airbus A350 has proven reliable so far. The core gearing innovation underpinning Pratt’s GTF also appears to work as planned; a relief because it cost about $10 billion to develop. There’s more at stake, though, than airline flight schedules and manufacturers’ pride and profitability. As with the car industry, the aerospace sector is gearing up for an epochal effort to curb carbon emissions. Aviation accounts for 2%-3% of greenhouse gas emissions but the sheer volume of plane deliveries in coming years will counteract engine efficiency gains. Aviation’s share could rise to between 10% and 25% by 2050, a Roland Berger study found. Unlike carmakers, the airlines lack viable technological alternatives. Biofuels have potential but fully electric large commercial aircraft are probably decades awayEngine manufacturers are working on still more efficient jet engine designs. Rolls-Royce claims its Ultrafan technology will deliver a 25% improvement in fuel burn compared to the first generation of Trents. Bringing these innovations to market quickly is essential from a planetary perspective but rushing development could prove counterproductive. “My sense is that public opinion in Europe at least is moving quicker than the technology,” says Rob Stallard at Vertical Research Partners.Cunningham is even less optimistic. “Gas turbines are running out of road at just the point where the political impetus is toward greater decarbonization,” he says. “Jet engines are unlikely to get a lot better from here.”(1) The plane was developed by Bombardier Inc and was known as the C-Series before Airbus acquired a majority stake.To contact the author of this story: Chris Bryant at email@example.comTo contact the editor responsible for this story: James Boxell at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Bryant is a Bloomberg Opinion columnist covering industrial companies. He previously worked for the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Leasing giant GECAS, the aircraft leasing subsidiary of General Electric, has ordered 25 Airbus aircraft including a rare purchase of jets powered by GE's rival engine maker Rolls-Royce, two people familiar with the matter said. The order includes 12 Airbus A330neo jets, for which Rolls-Royce is the sole engine supplier, and 13 A321XLR long-distance narrow-body jets.
* Wall Street opens higher Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Thyagaraju Adinarayan. 9 little points is all it would take to bring the STOXX 600 to its highest level ever and join Wall Street in the fun of fresh milestones and "record high" headlines. With upbeat trade optimism lifting stock markets across the planet, it's absolutely possible this will happen tomorrow (unless writing this just jinxed it!).
* Wall Street opens higher Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Thyagaraju Adinarayan. Natixis chief economist Patrick Artus makes an interesting argument about the two-decade long stellar outperformance of Wall Street over Europe, saying it's "an illusion".
* Wall Street opens higher Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Thyagaraju Adinarayan. ARE UK RETAIL INVESTORS DRIFTING AWAY FROM THE TORIES? No surprise here: one wouldn't exactly expect UK retail stock investors to massively support Labour.
Luxury carmaker Aston Martin and engine manufacturer Rolls-Royce have separately faced difficulties with their businesses.
The bill to fix Rolls-Royce's Trent 1000 engine has risen by another 800 million pounds ($1 billion) as the aerospace group battles to reduce disruption to airline customers that have had to ground Boeing 787 passenger planes for repairs. The British engineer said on Thursday its operating profit and cash flow this year would come in at the bottom of its guidance - both at about 600 million pounds - as the cost of the Trent 1000's problems rose to 2.4 billion pounds for 2017-2023. Chief Executive Warren East said Rolls would spend more on parts and replacement engines to reduce the time aircraft are grounded while turbine blades are replaced.