Rolls-Royce shares fell Monday after it was found that a problem affecting its engines powering Boeing’s Dreamliner jets had been discovered in a different model. The U.K.-listed company had previously admitted that 400 to 500 of its Trent 1000 engines were affected by problems with blades wearing out earlier than expected. Also known as “Package […]

Britain’s Rolls-Royce said a costly compressor problem that had grounded Boeing planes had now been found in a different type of engine, compounding pressures on a group that is due to cut more than 4,000 jobs this week. Britain’s best-known engineering company has been hit by a problem with a compressor in the Trent 1000 […]

British discount retailer Poundworld has fallen into administration, a form of creditor protection, administrator Deloitte said on Monday, becoming the latest victim of brutal trading conditions on the UK high street. Poundworld, majority owned by private equity group TPG Capital, trades from 335 stores across the country and its administration puts about 5,100 jobs at […]

HSBC will invest $15-17 billion in areas including technology and its core Asian markets of Hong Kong and China as it swings from a strategy of cost-cutting to growth, new Chief Executive John Flint said on Monday. The announcement is Flint’s first public indication to shareholders of the strategy he intends to pursue at HSBC, […]

A radical plan to transform Switzerland’s financial landscape by barring commercial banks from electronically creating money when they lend was resoundingly rejected by Swiss voters on Sunday. More than three quarters rejected the so-called Sovereign Money initiative, according to the official result released from the Swiss government. All of the country’s self-governing cantons also voted […]

Italy has refused to allow a ship carrying over 600 migrants to dock at any of its ports and said it was shutting its ports, demanding that the Mediterranean island of Malta accept the vessel instead. It refused, promoting a diplomatic rift with Italy and leaving the migrant vessel in limbo. Matteo Salvini, the leader […]

European equities are set to open higher Monday as a historic meeting between the U.S. President and the North Korean leader takes place. The FTSE 100 is seen up by 16 points at 7,691; the DAX is expected to start up by 31 points at 12,784; and the CAC 40 is seen higher by 8 […]

Italy’s government has no intention of leaving the euro and plans to focus on cutting debt levels, looking to boost growth through investment and structural reforms rather than deficit spending, the new economy minister said. In his first interview since taking office a week ago, Giovanni Tria told Corriere della Sera newspaper that he aimed […]

Vienna is one of the cities being considered as the venue for a possible summit between Russian President Vladimir Putin and his U.S. counterpart Donald Trump, Kremlin spokesman Dmitry Peskov told reporters on Saturday. Putin said last month that the proposed summit between him and Trump was not working out for now and was beset […]

French President Emmanuel Macron said on Friday it was possible to make progress on trade issues that have split the United States and its allies after meeting with U.S. President Donald Trump. Following an exchange of terse messages before the summit, the two leaders struck a conciliatory tone with Trump saying that the relationship was […]