Business news in brief: Rolls-Royce | Pace | Imperial Tobacco

Published on 25/07/2012 00:07

ENGINEERING giant Rolls-Royce yesterday revealed that it is to provide engines for the world’s first international ferries to be powered by liquefied natural gas (LNG), cutting greenhouse gas emissions.

The two ships, which are being built at the Bergen Group yard in Norway, will enter service next summer and will run between Denmark and Norway. Odd Magne Horgen, Rolls-Royce general sales manager, said: “These vessels will be the first international LNG-fuelled passenger vessels in operation and we are very pleased to be a part of this ground breaking project.”

Surge in number of women on boards

The proportion of women on the boards of Britain’s listed companies has reached “unprecedented levels” since a voluntary code of conduct for headhunters was launched last year.

According to the Department for Business, women now make up 16.7 per cent of FTSE 100 boards, up from 12.5 per cent in 2010. Female membership of FTSE 250 boards has risen to 10.9 per cent from 7.8 per cent.

Pace shares up as flood fears recede

One of the world’s biggest set-top box manufacturers saw its shares jump after it allayed fears over supply disruption caused by floods in Thailand.

Pace ran into trouble last year when two of its key suppliers – Seagate and Western Digital – suffered disruption to production of the hard disks used in satellite, Freeview and cable set-top boxes following the disaster.

Imperial Tobacco revenues on the up

Cigarette maker Imperial Tobacco yesterday reported a 3 per cent increase in tobacco net revenues, reflecting higher prices as volumes fell 3 per cent. The maker of Golden Virginia and Lambert & Butler said its overall financial position and operational performance for the fiscal year to 30 September was in line with the board’s expectations.