Rolls-Royce in bribe apology

ROLLS-ROYCE has apologised “unreservedly” after a judge approved a £497million agreement with the Serious Fraud Office to settle bribery and corruption claims.

The aero-engine maker, which is paying a total of £671million in penalties to regulators, said it would emerge “a more trusted, resilient and better managed business”. Its shares rose 29½p to 694½p as it said it would beat profit expectations.

CEO Warren East said: “The behaviour uncovered is completely unacceptable. This was unworthy of everything Rolls-Royce stands for. The practices do not reflect the manner in which we do business today. ”