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'Pause in growth' for Rolls-Royce

THE City turned on Rolls-Royce yesterday as the aerospace and defence giant warned a decade of profit growth would come to a shuddering halt this year, wiping £3.3bn off the value of the firm.

Just hours after arrests in London from a Serious Fraud Office probe into the engine-maker over corruption claims, chief executive John Rishton admitted there would be a "pause in growth", after US defence budget cuts and the completion of export programmes to the Middle East and India.

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