Sep 3, 2020
City Bulletin: Melrose suffers effects of aviation downturn
The collapse of the global aviation industry has hit British aerospace groups which supply the sector, not least Rolls-Royce. Melrose, which bought car and aircraft parts maker GKN two years ago, is another industrial group affected. THG is raising £920m in new money, with a pre-money valuation of £4.5bn. Watchdog Ofgem has fined energy group SSE £2m for failing to publish inside information about the wholesale energy market. Watches of Switzerland chairman Dennis Millard is leaving the group's board after only two years. Given the circumstances, figures for the new financial year look much more promising.
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