Latest news with #Rolls-RoyceHoldingsPlc
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Business Standard
2 days ago
- Business
- Business Standard
China weighs ordering up to 500 Airbus jets during EU leaders' visit
By Siddharth Philip and Danny Lee China is considering placing an order for hundreds of Airbus SE aircraft as soon as next month, when European leaders visit Beijing to celebrate the countries' long-term ties, according to people familiar with the matter. Deliberations are underway with Chinese airlines about the size of a potential order, said the people, who asked not to be named discussing confidential matters. A deal could involve about 300 planes and include both narrowbody and widebody models, they said, with one person saying the order could range between 200 and as many as 500 aircraft. Negotiations are fluid and could fall apart or take longer to reach a conclusion, the people said. The European planemaker rose as much as 2.3 per cent in early Paris trading. Rolls-Royce Holdings Plc, which makes engines for Airbus's widebody aircraft, rose as much as 0.7 per cent in London. French President Emmanuel Macron and Chancellor Friedrich Merz of Germany are among leaders that may visit Beijing in July to mark 50 years of diplomatic relations between China and the European Union. Their countries are the two biggest owners of Airbus, and a high-profile deal with the planemaker would allow Chinese President Xi Jinping to send a message to US President Donald Trump over trade. China and the US — the world's two biggest economies — are at loggerheads over trade rules that Trump is determined to reset during his second presidential term. Should the two sides resolve their differences, Airbus rival Boeing Co. could potentially win big — the US planemaker is America's biggest exporter and a jet sale was featured in a US-UK trade deal in May. To date, however, Boeing has been penalized in China. In April, authorities in Beijing told airlines to stop taking deliveries of Boeing jets. Trade tensions and the crises that befell the 737 Max jet date back years, and have given Airbus an upper hand in what was once a carefully balanced market between the two dominant planemakers. Widebodies would be a significant portion of a new Airbus order, the people said, with one person saying the A330neo, the planemaker's smallest twin-aisle model, could win some sales. The number of twin-aisle jets in backlog for China's state-run and privately operated carriers has dwindled, as Boeing has traditionally sold more in the market. Should the order run to 500 planes it would rank as one of the biggest ever and certainly the largest for China, eclipsing an order for about 300 single-aisle Airbus jets made in 2022 that was then worth around $37 billion. Air India Ltd. inked an order for 470 Airbus and Boeing planes back in 2023 and another Indian airline, IndiGo, placed a record-breaking order with Airbus in mid 2023 for 500 narrowbody aircraft. Boeing hasn't won a major order from China since at least 2017 due to trade tensions and self-inflicted issues. In 2019, China became the first nation to ground the 737 Max following two deadly crashes. Trade disputes with the Biden and first Trump administrations also helped tilt Chinese orders toward Airbus. Then in 2024, Boeing suffered a quality crisis when a door plug blew out mid-flight in January. Any deal would likely be carried out through China's state-run aircraft procurement body, which typically negotiates on behalf of the country's airlines.
The Sun
09-05-2025
- Business
- The Sun
Cambridge remains unfazed as US slashes tariffs on UK cars, steel
CAMBRIDGE: The United States (US) has reduced tariffs on British cars and steel, making headlines across the United Kingdom (UK) on Thursday (May 8). According to the UK government's official website, Washington slashed tariffs on UK car imports to 10 per cent from 27.5 per cent and eliminated tariffs on steel and aluminium, reducing them from 25 per cent to zero. However, on the cobbled streets of Cambridge, the world's most renowned university town, life continues as usual, with no noticeable public reaction. In fact, when US President Donald Trump made the 'Liberation Day' tariff announcement on April 2, consumers here seemed largely indifferent to the political impact of tariffs. There were no 'Buy British' campaigns trending in town, nor any significant shift in consumer sentiment. This is despite a recent survey conducted by British universal bank Barclays Plc showing that, based on its consumer card spending data, 71 per cent of consumers plan to buy more 'Made in Britain' products in response to the trade tariffs. As observed by Bernama around King's Parade, one of the busiest tourist streets in central Cambridge following Thursday's (May 8) tariffs announcement, American fast food chains remained crowded with people enjoying burgers and fried chicken, coffee continued to be sipped, and the Apple store was as busy as ever. It seems that the impact of US tariffs has had little effect on the everyday lives of most Cambridge residents. A quiet confidence in the bubble Perhaps the reality in Cambridge is that its economy is not tied to the industries most affected by tariffs. Rather than relying on exports like steel or dairy products, the university town thrives on knowledge, intellectual capital and research funding. For most people here, the tariff dispute always felt distant or perhaps irrelevant. Even with the reversal of automotive and steel tariffs, which brought cheers from engine-maker Rolls-Royce Holdings Plc and aerospace firm Melrose Industries Plc, and despite the Bank of England cutting interest rate by 25 basis points to 4.25 per cent to cushion the UK's economy against the impact of Trump's tariff policies, Cambridge remains unfazed. At Thursday's close, Rolls-Royce rose 3.66 per cent to 794 pence (100 pence = RM5.68) a piece, while Melrose was 5.21 per cent higher at 470.70 pence a piece. Muted consumer attitudes Although the US maintained a hard stance during the Trump administration, British consumers never seemed to 'retaliate' against the tariffs imposed. In Cambridge, American fast food chains remain as popular as ever, with visitors, students and professionals continuing to dine at these restaurants or shop at the stores of American tech giants without a second thought. The easing of US tariffs on UK automotive, steel and aluminium may signal progress in trade relations, and the change will certainly be welcomed by the sectors directly affected, ranging from local businesses to major exporters. For them, it represents an opportunity to expand market access in the world's largest economy. However, this change will likely be absorbed quietly in Cambridge, the centuries-old university town by the River Cam.
The Sun
09-05-2025
- Business
- The Sun
US cuts tariffs on UK goods, Cambridge unfazed
CAMBRIDGE: The United States (US) has reduced tariffs on British cars and steel, making headlines across the United Kingdom (UK) on Thursday (May 8). According to the UK government's official website, Washington slashed tariffs on UK car imports to 10 per cent from 27.5 per cent and eliminated tariffs on steel and aluminium, reducing them from 25 per cent to zero. However, on the cobbled streets of Cambridge, the world's most renowned university town, life continues as usual, with no noticeable public reaction. In fact, when US President Donald Trump made the 'Liberation Day' tariff announcement on April 2, consumers here seemed largely indifferent to the political impact of tariffs. There were no 'Buy British' campaigns trending in town, nor any significant shift in consumer sentiment. This is despite a recent survey conducted by British universal bank Barclays Plc showing that, based on its consumer card spending data, 71 per cent of consumers plan to buy more 'Made in Britain' products in response to the trade tariffs. As observed by Bernama around King's Parade, one of the busiest tourist streets in central Cambridge following Thursday's (May 8) tariffs announcement, American fast food chains remained crowded with people enjoying burgers and fried chicken, coffee continued to be sipped, and the Apple store was as busy as ever. It seems that the impact of US tariffs has had little effect on the everyday lives of most Cambridge residents. A quiet confidence in the bubble Perhaps the reality in Cambridge is that its economy is not tied to the industries most affected by tariffs. Rather than relying on exports like steel or dairy products, the university town thrives on knowledge, intellectual capital and research funding. For most people here, the tariff dispute always felt distant or perhaps irrelevant. Even with the reversal of automotive and steel tariffs, which brought cheers from engine-maker Rolls-Royce Holdings Plc and aerospace firm Melrose Industries Plc, and despite the Bank of England cutting interest rate by 25 basis points to 4.25 per cent to cushion the UK's economy against the impact of Trump's tariff policies, Cambridge remains unfazed. At Thursday's close, Rolls-Royce rose 3.66 per cent to 794 pence (100 pence = RM5.68) a piece, while Melrose was 5.21 per cent higher at 470.70 pence a piece. Muted consumer attitudes Although the US maintained a hard stance during the Trump administration, British consumers never seemed to 'retaliate' against the tariffs imposed. In Cambridge, American fast food chains remain as popular as ever, with visitors, students and professionals continuing to dine at these restaurants or shop at the stores of American tech giants without a second thought. The easing of US tariffs on UK automotive, steel and aluminium may signal progress in trade relations, and the change will certainly be welcomed by the sectors directly affected, ranging from local businesses to major exporters. For them, it represents an opportunity to expand market access in the world's largest economy. However, this change will likely be absorbed quietly in Cambridge, the centuries-old university town by the River Cam.
Bloomberg
28-02-2025
- Business
- Bloomberg
Rolls-Royce Stock Should Rise Another 50%, BofA Analyst Says
Bank of America gave Rolls-Royce Holdings Plc a price target that suggests the stock could rally another 50%, even after the British jet-engine maker's valuation doubled in the past year. Analyst Benjamin Heelan lifted his price target to 1,150 pence from 830 pence — far higher than any of the other 20 analyst targets tracked by Bloomberg. The company's shares gained as much as 3.1% to 754.00 pence apiece on Friday.
Bloomberg
27-02-2025
- Business
- Bloomberg
Rolls-Royce CEO Takes ‘Burning Platform' of Company to New Highs
In his two years as chief executive officer of Rolls-Royce Holdings Plc, Tufan Erginbilgic has turned the company he once derided as a 'burning platform' into a case study for reviving a moribund industrial icon. The former oil-company executive has slashed jobs, sold off underperforming assets and pulled back on efforts with questionable profit potential. The result is a nearly eightfold increase in shares of the aerospace engine supplier over his tenure, the biggest gain by far among members of the FTSE 100 Index of blue-chip UK companies.
