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Rolls-Royce in talks with Boeing to build a new plane

Rolls-Royce in talks with Boeing to build a new plane
Rolls-Royce in talks with Boeing to build a new plane


Rolls-Royce in talks with Boeing to build engines for smaller planes as it battles to survive the pandemic

Rolls-Royce in talks with Boeing to build a new plane

Slowdown: Rolls-Royce is paid for the number of hours its jet engines fly

Rolls-Royce is in talks with Boeing to build a new plane as it battles to survive the Covid crisis.

The British engineering giant would provide the engines for a mid-sized aircraft Boeing is considering.

Rolls is paid for the number of hours its jet engines fly – meaning a large portion of its revenues were wiped out when the pandemic hit and global air travel ground to a halt. 

Working on the project would give Rolls an edge, as it currently only supplies engines for large aircraft.

Rapid advances in technology mean that smaller planes can increasingly fly long-haul routes, meaning jumbo planes will be needed far less in the coming years.

Rolls boss Warren East confirmed the talks yesterday as the firm said its engines spent 60 per cent less time in the air during the first four months of 2021 than in the same period of 2019, before the pandemic hit. 

East said: ‘We faced unprecedented challenges in 2020 with events that were beyond our control.’



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Big banks’ £5bn loan windfall to boost dividends

Big banks’ £5bn loan windfall to boost dividends
Big banks’ £5bn loan windfall to boost dividends


Britain’s five biggest banks may be in line for £5bn windfall that could help to boost dividend payouts later this year

Britain’s five biggest banks may be in line for a £5billion windfall that could help to boost dividend payouts later this year. 

Barclays, HSBC, NatWest, Lloyds Banking Group and Standard Chartered stashed away billions of pounds in case customer loans turned sour during the pandemic. 

But the chief executive of one major lender told The Mail on Sunday that far fewer customers had defaulted or missed payments on their loans than had been forecast. 

Big banks’ £5bn loan windfall to boost dividends

Far-sighted: Barclays, HSBC, NatWest, Lloyds Banking Group and Standard Chartered stashed away billions of pounds in case customer loans turned sour during the pandemic

The executive said banks could start to claw back some of these provisions later this year, freeing up more money to pay dividends. 

Alastair Ryan, head of European banks strategy at Bank of America, said about £20billion was set aside for possible bad loans last year. He estimates that nearly a quarter would ‘likely’ be clawed back before the end of the year. 

Omar Keenan, an analyst at Credit Suisse, said the Big Five UK-listed banks are ‘currently carrying about £5billion more in provisions than their current economic projections strictly say they need’. 

Analysts expect releasing the money will boost bank profitability and help to increase shareholder payouts to as much as £7.6billion this year – close to 2019 levels. 

The Bank of England will update the City within weeks on whether banks can pay out dividends and buy back their shares without limits on the amount they can dish out. 

The central bank stopped lenders from dishing out dividends last March so they could shore up their balance sheets. It relaxed the rules in December, but left restrictions in place. 

A top bank chief executive told The Mail on Sunday: ‘In terms of late payments and loan defaults, there’s been virtually nothing. This is across the industry. It’s even quiet in comparison with pre-Covid. 

‘We’ve got more cash on our balance sheet than we’ve ever had.’

However, he warned that ‘there’s a long way to go’ because the end of the furlough scheme in September ‘could become an issue’. 

Some banks bought back shares and resumed dividends earlier this year in respect of 2020, but await clarity from the Bank of England on the extent of payouts this year. 

Gary Greenwood, analyst at Shore Capital, said he would be ‘very surprised’ if banks were not allowed to pay more dividends. 

Russ Mould, analyst at investment site AJ Bell, said: ‘The Big Five are now expected to distribute £7.6billion in 2021. If that is achieved, it would be the highest since the £13.3billion peak of 2007.’



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Naked man pictured casually sunbathing on street – leaving shoppers horrified

Naked man pictured casually sunbathing on street – leaving shoppers horrified
Naked man pictured casually sunbathing on street – leaving shoppers horrified


Shoppers were left horrified after a man with no trousers or pants was spotted casually sunbathing in the city centre.

The picture, which was taken today (June 12) by a man passing in a taxi, only highlights the challenges facing the city centre post-lockdown, reports StokeonTrentLive.

He said: “The driver and pedestrians were shocked to see the guy on the floor with no kegs on. It looked like he was off his t*ts.

“There was a security guard in close proximity along with the old bill.

“It’s not something you want to see in broad daylight in the city centre but unfortunately it’s becoming a regular sight.



Naked man pictured casually sunbathing on street – leaving shoppers horrified
Hanley has been described as “not a nice atmosphere” by a local

“It’s a real shame what’s happening to Hanley with drug addicts, drunks and begging everywhere.”

Shopper Steve Clews has previously been threatened by an aggressive beggar after he refused to hand over spare change close to the HSBC in Crown Bank.

Just days later, Steve then witnessed a group of rough sleepers stealing post from the letterbox of nightclub Pink.



The disturbing moment druggie shoots up in one of Hanley's busiest shopping streets in broad daylight
The disturbing moment druggie shoots up in one of Hanley’s busiest shopping streets in broad daylight

He has been calling for more to be done to stop anti-social behaviour in the city centre before it becomes a ghost town.

The 36-year-old, from Meir Park, said he almost fell over a man sleeping on the floor when he recently got off a bus in Hanley.

Another man, he claimed, was seen walking around with one trainer on.

“It’s not a great impression for when people first arrive in Stoke-on-Trent,” he added.

Steve said that “nothing ever seems to get done”, despite having called 101 on numerous occasions.

“It’s difficult but it’s no wonder Hanley is dying because no-one likes going there anymore,” he continued. “It’s just not a nice atmosphere.”





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SLS: First view of Nasa's assembled 'megarocket'

SLS: First view of Nasa's assembled 'megarocket'
SLS: First view of Nasa's assembled 'megarocket'



Nasa has assembled the key elements of its powerful SLS rocket.

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US President Joe Biden ‘breaks royal protocol’ as he meets the Queen at G7

US President Joe Biden ‘breaks royal protocol’ as he meets the Queen at G7
US President Joe Biden ‘breaks royal protocol’ as he meets the Queen at G7


Joe Biden appeared to break royal protocol during his first meeting with the Queen at the G7 summit by arriving after her.

The US President’s motorcade swept into the dinner reception during the summit in Cornwall on Friday (June 11).

But he arrived with First Lady Jill Biden a few minutes after the Queen got there with Prince William, Kate Middleton,Prince Charles and Camilla Parker Bowles.

According to royal protocol, members of the Royal Family should be the last to arrive at an event and the first to leave.

The protocol dictates that all guests are in place before the Queen arrives.



US President Joe Biden ‘breaks royal protocol’ as he meets the Queen at G7
Joe Biden met the Queen at the G7 summit

British professional coaching company Debrett’s told the Daily Mail: “It is correct for everyone to arrive before the royal personage and protocol rules dictate that no guest should leave an event before a member of the Royal Family.”

Royal historian Marlene Koenig, royal historian told Bazaar back in 2019: “When it is a formal event, a state dinner, attending the ballet (sitting in the royal box), a reception, a wedding, the royals are the last to arrive.”



Under royal protocol, guests should arrive before the Queen
Royal protocol states all guests arrive before the royals



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But the late arrival at the Eden Project near St Austell, Cornwall did not appear to put a dampener on the monarch’s enthusiasm.

The Queen, 95, was all smiles as she spoke to the American leader and his wife.

It was the first time she has met a foreign leader since the outbreak of the coronavirus pandemic.

And the reception also marked her first official engagement since her husband, Prince Philip, died in April aged 99.



The G7 is in Cornwall
The leaders of the world’s richest nations have descended on Cornwall

The Bidens are due to visit Windsor Castle on Sunday for tea.

The G7 summit has seen the leaders of seven of the world’s richest countries visit Cornwall.

It also saw the first meeting between the US President and Prime Minister Boris Johnson.

Meanwhile, Kate was asked about Meghan Markle and Prince Harry’s newborn daughter Lilibet at the G7 summit.

She said: “We haven’t met her yet but hopefully that will be soon.”





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ALEX BRUMMER: Good governance in corporate life is far off

ALEX BRUMMER: Good governance in corporate life is far off
ALEX BRUMMER: Good governance in corporate life is far off


ALEX BRUMMER: The fight for good governance and better value systems in corporate life has a long way to go

Founding a new enterprise is hard. The start-up generation has had a real chance to lift the bar when it comes to looking after the interests of employees. 

Similarly, it might have been hoped that Covid-19, the suffering of so many, and the push for environmental, social and governance investing by Blackrock among others, might have produced a real change in boardroom behaviour. 

Instead, we have seen unfettered greed, with bosses lobbying for, and accepting, big pay increases when restraint and responsibility are in order. 

Among newer enterprises, think about craft brewing. The name itself exhibits a point of difference with the established industrial-scale beerage. There, the conformity of the product and logistics play second fiddle to the quality of hops. 

ALEX BRUMMER: Good governance in corporate life is far off

Sinking feeling: It might have been hoped that Covid-19 might have produced a real change in boardroom behaviour

Brewdog is one of the more successful of the craft breed and tapped into respect for what it does by crowdfunding. So it comes as a shock when former workers take to Twitter exposing a record of cutting corners on health and safety and driving staff so hard that it has caused mental illness. 

Uber had to be dragged through the UK courts to be persuaded that its drivers in the UK should be offered the same employment rights as payroll employees. 

The lack of formal employment conditions for riders was among the factors that led to a stock market flop of Deliveroo. Instead of resetting the dial for workers, some millennial and GenZ firms seem to have feeble grasp of what a company built for all stakeholders might look like. 

It doesn’t help that bigger firms set a bad example. Dismal conditions in Sports Direct and Amazon warehouses have been widely reported. Tesco fought an equal pay claim for women to the highest court in Europe and lost. Its former chief executive, Dave Lewis, waltzed off with a £6.42m pay and bonus package during the pandemic. 

Shareholders in rival Morrisons this week handed chief executive Dave Potts and his team bloody noses, with 70 per cent voting against the group’s pay report. It has been a year of executive pay revolts at companies as different as Rio Tinto and publisher Informa. 

Supermarkets were among the pandemic heroes, keeping people supplied. That is no excuse for ‘wartime’ profiteering. Investors at Morrisons were disturbed that the pay committee failed to adjust bonuses to account for windfall income as a result of hospitality and other closures. 

Fat cat pay is no accident. It arises as a result of weak remuneration committees, grasping executives with no sense of personal shame and lack of responsibility and poor advice from remuneration experts who are often conflicted. The fight for good governance and better value systems in corporate life has a long way to go.

Trading places 

Post-Brexit Britain’s trade figures have become a new battleground for those who thought leaving the EU was a dreadful mistake. With each passing month the pattern becomes clearer. 

Post-Brexit Britain's trade figures have become a new battleground for those who thought leaving the EU was a dreadful mistake

Post-Brexit Britain’s trade figures have become a new battleground for those who thought leaving the EU was a dreadful mistake

Trade with countries outside the EU is buoyant with imports up 4.9 per cent since December and exports off just 1.3 per cent. Trade with Europe is being hit hard. 

The UK, by all accounts, is getting the best of the bargain with exports down 5.7 per cent and imports falling by a whopping 19.1 per cent. 

The figures are distorted by pandemic effects and the relatively slow recovery in the eurozone. In spite of border disputes and EU use of non-tariff barriers, such as intrusive document requests, living outside the EU is not the disaster predicted.

Private grief 

At least fund management outsourcer Sanne did not capitulate at the first sound of private equity cannon fire. 

By holding firm, chairman Rupert Robson, an HSBC emigre, has elicited five improved offers and only succumbed to talks when the offer from Cinven hit 875p, valuing the group at £1.42million. The final outcome will be the same. A valuable UK financial enterprise with good tech vanishing into the private equity black box. 

There is a symmetry to Jersey-based Sanne’s fate. Before its London listing in 2015, it was owned by private equity outfit Inflexion. Much of its income derives from offering the private equity sector fiduciary, administration and governance services. 

Private equity takeovers should never just be about price. 

Unless a compelling and ambitious business case can be made, the directors have a duty to kick the offer into touch. 



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Horror as boy, 3, dies after falling 10ft from window before being mauled by dogs

Horror as boy, 3, dies after falling 10ft from window before being mauled by dogs
Horror as boy, 3, dies after falling 10ft from window before being mauled by dogs


A three-year-old boy has died after plunging 10ft from a window before being savaged by his family’s dogs, according to reports.

The toddler was found in a critical condition with a neck injury from the fall at his home in Elizabeth, New Jersey in the US.

He also had bites on his body from being mauled by the two dogs in the back yard of the house.

The child, who has not been named, was taken to hospital after being found at around 5.30pm on Wednesday (June 9). He died an hour later.

Neighbours claimed as soon as he fell, the dogs attacked him.



Horror as boy, 3, dies after falling 10ft from window before being mauled by dogs
The family’s home, where the tragedy unfolded

Authorities arrived and found the two dogs, which neighbours said were pit bulls, in the fenced-in back garden.

The animals were taken away by a local animal control agency and are expected to be euthanised, according to NJ.com.

It is not clear whether the boy died as a result of the fall, the injuries from the dog attack, or as a combination of both.



He died an hour after falling
He was taken to hospital but died an hour later

And it is also not clear how he fell from the window.

Police are investigating but no criminal charge shave been filed.

Neighbour Maria Rocha told CBS New York: “The dogs were bad, the dogs, everybody was scared of the dogs.

“As soon as the baby fell, the dogs attack him.

“My heart is broken. I didn’t sleep all night.



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“I cannot believe this happened.”

Another woman who lives nearby described seeing a man run to the front of the property carrying the boy.

She said:“I heard something like bang and then I heard someone was screaming like, ‘Help! No stop, no stop!’

Another resident described the animals as being aggressive, adding they would jump and bark when she waled past the home.





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