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| Rolls-Royce in £671m bribery settlement | Rolls-Royce in £671m bribery settlement |
| (35 minutes later) | |
| Rolls-Royce has agreed to pay £671m to settle bribery and corruption cases with UK and US regulators. | |
| The aerospace firm is set to pay £497m plus costs to the Serious Fraud Office (SFO), which started investigating claims in 2012 of wrongdoing overseas. | |
| At the time, the SFO asked the firm for information about possible bribery in China and Indonesia. | |
| Rolls-Royce said it had also agreed to pay $170m (£141m) to the US Department of Justice. | |
| A further settlement will see it pay $26m (£21.5m) to Brazilian regulators, it added. | |
| Rolls-Royce, one of the UK's biggest manufacturing exporters, makes engines for planes, as well as for ships, nuclear submarines and power stations. | |
| 'Intermediaries' | |
| "These are voluntary agreements which result in the suspension of a prosecution provided that the company fulfils certain requirements, including the payment of a financial penalty," the firm said. | |
| The concerns about bribery and corruption were passed by the firm to the SFO in 2012, it added. | |
| Some of the allegations dated back more than 10 years. | |
| They involved Rolls-Royce's "intermediaries", which are local companies that handle sales, distribution, repair and maintenance in countries where the British firm does not have enough people on the ground. | |
| The SFO confirmed it had reached an agreement with Rolls-Royce, which would be subject to approval by a court on Tuesday. |