Norway will prohibit the planned sale by Britain's Rolls-Royce of a Norwegian maritime engine maker to a Russian company on national security grounds, the Nordic country's justice minister told parliament on Tuesday.
Russia said on Friday that Norway had blocked the sale of a Norwegian maritime engine maker to a Russian company on a far-fetched pretext of national security, and accused Oslo of trying to curtail Moscow's commercial activities.
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(Reuters) - Airlines with planes idled by the pandemic are cutting costs by delaying some maintenance tasks like changing life vests, testing oxygen bottles and checking emergency exits under COVID-19 waivers from airplane manufacturers and regulators.
FILE PHOTO: Airplanes sit on the tarmac at the site of French aircraft storage and recycling company Tarmac Aerosave in Tarbes following the coronavirus disease (COVID-19) outbreak in France, June 19, 2020. Picture taken June 19, 2020. REUTERS/Stephane Mahe
The move allows airlines to stop the clock on a category of parts that would otherwise need checks or pass their “use-by” date without leaving the ground because of the huge number of planes parked during the pandemic.
Britain said it would spend 6.6 billion pounds ($9.1 billion)over the next four years on research and development to help drive a technology overhaul of its military capabilities.
By Reuters Staff
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MILAN (Reuters) - Italian defence group Leonardo launched on Monday an initial public offering of its U.S. electronics unit DRS, which counts the U.S. military as a customer.
The parent company will offer about 31.9 million shares of Leonardo DRS, or a 22% stake, on the New York Stock Exchange for $20 to $22 per share, a filing showed, valuing the stake at up to $701.8 million.
The state-controlled group said last month that it aimed to complete the listing by the end of March.
Leonardo Chief Executive Alessandro Profumo has said the group would keep the majority of DRS - which it bought in 2008 in a deal valuing the U.S. defence company at $5.2 billion, including $1.27 billion in debt - to “maintain a significant exposure in this strategically important market”.