London (AFP) – Rolls-Royce, the British maker of engines, announced on Friday that it was slashing its earnings forecasts partly as result of Western trade sanctions against Russia, causing a share price collapse.Rolls said underlying profit in 2015 would be flat at best compared with 2014 but could come in three percent lower. The company had previously expected earnings to grow next year.”In the last few months economic conditions have deteriorated and Russian trade sanctions have tightened, leading a number of customers to delay or cancel orders particularly in our Nuclear & Energy and Power Systems businesses,” said Rolls.”At the …read more
Source: Business Insider
