Record loss for Rolls-Royce

The iconic automaker Rolls-Royce will seek to raise at least £2bn by selling assets including a division that makes parts for the Eurofighter Typhoon, after the Coronavirus crisis dragged the UK’s premier engineering group into heavy half-year losses. The FTSE 100 group, whose shares are down two-thirds this year, has taken a big financial hit from the grounding of flights due to COVID-19, since it gets paid according to the hours flown by aircraft fitted with its engines.