Shares in Rolls-Royce (RR.L) jumped as much as 7 percent on Tuesday after the British maker of engines for planes and ships settled a long-running bribery probe and said 2016 profit would beat expectations.
The conclusion to the bribery investigations by British, U.S. and Brazilian authorities helped remove a cloud hanging over one of Britain’s biggest corporate names since 2013.
The settlement, and the forecast for better than expected profit, comes as a boost to CEO Warren East who, since joining in mid-2015, has led a drive to slash costs and restructure the group following a series of profit warnings.
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