Rolls-Royce falls 5% after reporting record loss in 2016

Before tax loss of £4.6bn

Rolls-Royce's shares were trading 4.5% lower after the firm reported a record loss for 2016.

The aerospace engineering giant reported a loss of £4.6bn before tax for 2016, which was largely due to a fall in sterling post-Brexit as well as a historic bribery settlement. Rolls-Royce agreed to pay UK and US authorities £671m to settle corruption cases which involved using middlemen and bribery to win contracts in Indonesia, China and Russia.  Equities, bonds, property: Which asset classes will wrongfoot investors in 2017? Meanwhile, the firm said weak sterling, which fell some 20% since the Brexit vote, caused it to readjust the valuation of its currency hedge book, which was...