By Joice Alves

LONDON, Oct 9 (Reuters)Rolls Royce RR.L shares on Friday were heading for their best weekly gain since listing in 1987 as the British aircraft engine maker’s plan to raise money to cope with the coronavirus travel crisis triggered bargain hunting among investors.

The value of Rolls Royce shares more than doubled in the last week to 228.90 pence, although that is still a far cry from the 690 pence they traded at before the coronavirus outbreak.

The company aims to raise a total of 5 billion pounds, including 2 billion from shareholders, to cope with a “worst case scenario”.

“(The recapitalisation plan) sets up Rolls-Royce sufficiently to navigate an uncertain recovery and removes any lingering concerns about liquidity – and even solvency,” said Berenberg analyst Andrew Gollan, keeping a “buy” rating on the stock.

Worries over a long-haul travel slump reduced Rolls Royce’s market value to just 3.8 billion pounds ($4.9 billion) from 20.5 billion pounds two years back.

“There is a clear willingness to go bargain hunting as traders begin to see the light at the end of the tunnel,” said Joshua Mahony, senior market analyst at IG.

Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown said there has been “renewed retail investor interest” with Rolls Royce shares the most purchased by her clients in the week ending Oct. 8.

The Capital Group of Companies, a major investor, raised its stake in Rolls to 8.70% from 7.91% on Thursday.

Rolls Royce shares were up 17.8% on Friday by 1136 GMT, among the top performers on the pan-European STOXX 600 .STOXX index. Analysts said the stock still looked cheap.

($1 = 0.7723 pounds)

Rolls Royce’s roller coaster ride

(Reporting by Joice Alves; Editing by Kirsten Donovan)

(([email protected]; +442075422345; Reuters Messaging: [email protected]))


Timothy LongMarc Turner

Timothy has been raising money for the Ellen MacArthur Cancer Trust

Timothy Long has become the youngest person to sail around Britain at just 15-years-old.

It took 11 weeks and Timothy had to battle through giant waves, gale-force winds and sail for 24 hours straight.

He set sail on 16 July from Hamble Marina, Hampshire, sailing anti-clockwise around the coast and arrived back to the marina on Thursday.

Timothy Long and his parentsRound Britain 2020 Project

At some points of the 1,600-mile long journey, Timothy only slept for 20 minutes at a time.

It was all to raise money for the Ellen MacArthur Cancer Trust and Timothy raised a massive £7,300, which helps young people rebuild their confidence after cancer through sailing.

Ellen MacArthurGetty Images

The Cancer Trust was named after Timothy’s idol, Ellen MacArthur.

Dame Ellen MacArthur is a sailor who broke the world record for the fastest solo circumnavigation of the globe in 2005.

Timothy’s route was very similar to the route she took when she sailed around Britain as an 18-year-old in 1995.

He travelled on average 50 miles every day, but some parts of the journey were up to 100 miles a day.

White cliffs of DoverGetty Images

There are extreme tides in the British Channel so anyone sailing in it needs to know how to fix a boat

Timothy commented on his JustGiving page, saying: “This is by far the hardest thing that I have ever done because when you are solo sailing there is no one there to help – no support boat, nothing.”

Timothy LongMarc Turner

Timothy is going back to school on Monday!

Dame Ellen also spoke about Timothy’s achievement, calling it an incredible achievement.

“While Timothy will always have the personal satisfaction of that achievement, the legacy of what he’s done will be even more far-reaching in terms

BRUSSELS/FRANKFURT (Reuters) – Euro zone inflation fell deeper into negative territory last month, raising pressure on the European Central Bank to add stimulus, as an ongoing recession will keep price growth below its target for years to come.

Annual inflation in the 19 countries sharing the euro fell to minus 0.3% in September, its lowest in more than four years, from minus 0.2% a month earlier. That fell short of expectations for an unchanged reading, data from Eurostat showed on Friday.

More worryingly for ECB policymakers, underlying inflation, which excludes volatile food and energy costs, fell to 0.4% from 0.6%, far from the ECB’s target of almost 2%. Services inflation slowed further and the cost of imported industrial goods fell.

Although the ECB has unleashed unprecedented stimulus this year to combat a pandemic-induced economic shock, rising unemployment, surging savings, widespread restrictions on travel and plummeting business investment have proved an exceptional drag on prices.

A second wave of the coronavirus is likely to add to the gloom, which torpedoes confidence and weighs on prices further, economists say.

While the ECB held fire last month, it kept the door wide open to more stimulus. Board member Fabio Panetta made a clear case for preemptive action, arguing that the cost of doing too much is smaller than the cost of inaction.

His argument is further supported by a tumble in an even narrower core inflation reading, which also excludes alcohol and tobacco prices, to 0.2% from 0.4%.

Still, no ECB move is likely in October. Policymakers have long said that more data, particularly on 2021 fiscal policies, will be needed before they can take a fresh decision.

They have also prepared markets for bad inflation readings, arguing that price growth could stay negative for the rest of the year before a steady

One of the officers involved in the fatal police shooting of Breonna Taylor is crowdsourcing a fundraiser for his retirement. 

Detective Myles Cosgrove, one of three officers involved in the March incident, said he has received threats against his safety and is looking to leave the Louisville police force, according to the Courier Journal.

“It has recently become clear that it will be impossible for Myles to safely return to his position serving the community with the Louisville Metro Police Department,” Cosgrove’s family wrote on an online campaign post that seeks to raise $75,000. 

As of Thursday evening, the fund has received more than $40,000. 

Taylor was killed when Cosgrove and two other officers served a no-knock warrant on her apartment. Taylor’s boyfriend, fearing a break in, fired his gun at the officers, sparking a gunfight that resulted in her death.

Last week, Kentucky Attorney General Daniel Cameron, a Republican who spoke at the party’s national convention this summer, announced none of the officers involved in the incident would be charged with her murder. 


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The family of a man shot and killed by a sheriff’s office deputy in Immokalee is raising money for a burial in Mexico, according to the Coalition of Immokalee Workers.  

911 call: Officer-involved shooting in Immokalee



Nicholas Morales-Bessannia, 37, was shot by a deputy around 1:15 a.m. Sept. 17 outside a home in the Farm Workers Village neighborhood in Immokalee.   

Three Collier County Sheriff’s Office deputies were first dispatched to the scene after a woman called 911 because a man was outside her home on Edenfield Way with a shovel trying to get inside, according to audio of a 911 call released by the sheriff’s office.    

a group of smiling children posing for the camera: Nicholas Morales-Bessannia is pictured with his son.

© Photo courtesy of Jesus Marquez
Nicholas Morales-Bessannia is pictured with his son.

Morales-Bessannia was “charging toward” deputies with a weapon in his right hand raised before he was shot, according to the sheriff’s office.   

In statement released Monday, the Coalition of Immokalee Workers called the man’s death “shocking and unnecessary.”  

Previous coverage: Sheriff’s office releases additional information after Immokalee man shot and killed by deputy

More: Immokalee man shot and killed by Collier deputy was single father, longtime farm worker

More: 911 call audio: Woman says man killed by Collier deputy tried to enter her Immokalee home

More: Collier County Sheriff’s Office: Deputy shoots, kills Immokalee man who was holding a shovel

“We are working closely with Nicolas’s family to seek justice, both for the family and for our community, and we are also finding ways to support the family’s immediate needs, particularly those of Nicolas’s son, in this difficult time,” the statement reads.  

The coalition in its statement linked to a GoFundMe page set up to help support the man’s son and to raise money so that Morales-Bessannia can be buried in his family’s home of