Rolls-Royce slumps to one of the biggest losses in UK corporate history

The engine maker has reported its largest ever loss.

Engine maker Rolls-Royce has reported its largest ever loss and one of the biggest in UK corporate history after being hit by the pound's plunge and a corruption scandal.

The blue chip giant slumped into the red with a pre-tax loss of £4.64billion (€5.5bn) for 2016 after a £4.4billion (€5.2bn) writedown caused by the collapse of the pound since the Brexit vote, as well as a £671million (€791m) penalty to settle bribery allegations.