|Bid||107.06 x 100000|
|Ask||107.18 x 100000|
|Day's Range||106.84 - 108.02|
|52 Week Range||90.90 - 121.40|
|Beta (3Y Monthly)||0.91|
|PE Ratio (TTM)||19.59|
|Forward Dividend & Yield||3.80 (3.58%)|
|1y Target Est||125.70|
Facing criminal and civil lawsuits over alleged pollution following heavy rainfall in February 2018, the Norwegian group had been running Alunorte at half capacity for more than a year. “The positive decision for a lifted embargo on Alunorte production clearly overrides the weak aluminium market and should trigger a revaluation journey for the stock. The media group, best known for its Peppa Pig franchise, said sales were down 9 per cent to £941.2m due to a weak performance from its persistently underperforming film and TV production businesses.
The U.S. FBI is investigating corporate giants Johnson & Johnson, Siemens AG, General Electric Co and Philips for allegedly paying kickbacks as part of a scheme involving medical equipment sales in Brazil, two Brazilian investigators have told Reuters. Brazilian prosecutors suspect the companies channelled illegal payoffs to government officials to secure contracts with public health programs across the South American country over the past two decades. Brazilian authorities say more than 20 companies may have been part of a "cartel" that paid bribes and charged the government inflated prices for medical gear such as magnetic resonance imaging machines and prosthetics.
The U.S. FBI is investigating corporate giants Johnson & Johnson, Siemens AG, General Electric Co and Philips for allegedly paying kickbacks as part of a scheme involving medical equipment sales in Brazil, two Brazilian investigators have told Reuters. Brazilian prosecutors suspect the companies channeled illegal payoffs to government officials to secure contracts with public health programs across the South American country over the past two decades. Brazilian authorities say more than 20 companies may have been part of a "cartel" that paid bribes and charged the government inflated prices for medical gear such as magnetic resonance imaging machines and prosthetics.
General Electric Co won the most orders in the sharply contracting market for new gas-fired power plants in the first quarter, according to people familiar with the matter. Rival Mitsubishi Hitachi Power Systems (MHPS) booked five orders, while Siemens AG booked four, the sources said. Demand for gas turbines has fallen by half since 2014 as utilities rely more on wind, solar and power conservation.
Germany has opened the first stretch of a so-called electric highway that will connect hybrid trucks to overhead wires, allowing them to recharge while traveling on the country’s main transportation arteries. The 10-kilometer (6-mile) stretch south of Frankfurt on Germany’s A5 autobahn was opened last week, the German state of Hesse said in a statement. The system was built by Munich-based engineering firm Siemens AG, while Volkswagen AG’s Scania trucks unit provided the vehicles.
China has said it will retaliate. In just a few quick days we’ve gone from wondering whether industrial companies may get a little extra margin and order boost in the back half of the year as tariffs get rolled back to debating just how bad things might get. Technically, China and the U.S. are still talking.
Siemens is spinning off its power division. If GE merged the business with its own ailing power unit, the combined business might have the scale needed to perform better in a declining fossil-fuel generation market.
German technology group Bosch said it plans to be “fully carbon-neutral” by next year — a decade or more earlier than most of its rivals — thanks to big investments in clean electricity and an ambitious carbon offset programme. The group said from next year “it will no longer leave a carbon footprint”. It will use renewable sources of energy where possible and compensate for “unavoidable CO2” emissions where necessary.
FT premium subscribers can click here to receive Due Diligence every day by email. Joe Kaeser, the German boss of industrial group Siemens, is a very modern corporate executive. Investors cheered after Kaeser unveiled plans to spin off its struggling gas and power division, sending shares in Siemens up 5 per cent. It was the latest slimdown at the industrial conglomerate during his tenure.
The German group Siemens is so linked to electricity that its very name — the siemens — is a unit of electrical conductance named after its 19th century founder. It is the latest attempt by Joe Kaeser, Siemens chief executive, to slim down what was a sprawling industrial conglomerate into a more focused and profit-driven business.
Resolute earnings from Siemens and Wirecard aided sentiment, while the White House said China has indicated it wants to strike a trade deal. "All we need to know is how the next 48 hours unfold with China's vice premier in Washington for talks," said Craig Erlam, senior market analyst at Oanda.
FRANKFURT, Germany (AP) — German industrial equipment maker Siemens says it will cut some 10,000 jobs in a major restructuring that will involve spinning off its oil, gas and power generation business and creating new areas of growth.
On Tuesday evening, the Siemens boss – whose background is in finance, not engineering – announced the latest and most radical step so far to slim down one of Europe’s most important industrial companies. In future, Siemens will become a holding company whose core assets are technology and software for infrastructure and factories. For now, the train business will be kept – a proposed merged with Alstom SA was blocked – but it’s questionable whether Siemens will own it in the long term.
Siemens cheered investors on Wednesday by saying it would spin off its faltering 30 billion euro (25.8 billion pounds) gas-turbines business and posting better-than-expected quarterly earnings. The German engineering company said it would hand over to existing investors shares in the Gas and Power unit that has suffered from collapsing demand and cut-throat price competition as customers abandon fossil fuels and switch to renewable energy. The separation is the latest overhaul by Siemens Chief Executive Joe Kaeser who floated Siemens's Healthineers business last year and its wind power business in 2017.
The latest move was his announcement to carve out the sprawling power assets -- the deepest cut yet to the core of the manufacturing conglomerate, a German household name that signifies the country’s engineering prowess like few others. Investors cheered, sending Siemens up as much as 5.5 percent, the most in two years. Analysts at JPMorgan called the move “the biggest corporate change at Siemens” since it exited telecoms equipment more than a decade ago.
German shares led gains in Europe on Wednesday as robust earnings from the country's Siemens and Wirecard overshadowed mounting worries over a U.S.-China trade deal. Chinese Vice Premier Liu He will travel to Washington on Thursday for two days of trade talks, in a bid to avoid a sharp increase in tariffs on Chinese goods that U.S. President Donald Trump had threatened to impose over the weekend. "The fact that Chinese Vice-Premier Liu He is still expected to arrive in Washington to keep the talks going is probably the reason why this has not turned into an absolute meltdown," Elwin de Groot, head of macro strategy at Rabobank, said.
European shares fell on Wednesday for a third day as concern mounted over a U.S.-China trade deal, although positive reports from the likes of Wirecard and Siemens helped German stocks to rise. Chinese Vice Premier Liu He will travel to Washington on Thursday for two days of trade talks, in a bid to avoid increases in tariffs on Chinese goods that U.S. President Donald Trump had threatened to impose. European stocks were also roiled by a European Commission decision on Tuesday to lower its forecasts for euro zone economic growth.
The head of Siemens's Gas and Power business Lisa Davis is targeting 1 billion euros (857 million pounds) in savings by 2023 at the business Siemens wants to spin off from the rest of its operations, according to an analyst presentation. The figure includes the 500 million euros Siemens has already saved by cutting jobs at the unit which has struggled with faltering demand and plummeting prices. Siemens plans to achieve the savings by cutting back office functions, "rightsizing" and having a leaner structure in the regions, although Siemens has given no figures for expected job losses.
Siemens' decision to separate and spin off its struggling gas and power business is intended to strengthen the group's remaining businesses, Chief Executive Joe Kaeser said on Wednesday. "It is about further developing a company which is changing fundamentally," Kaeser told a news conference about the decision to separate the business that has struggled with collapsing demand for large gas turbines as customers switch to renewable energy sources. Many companies dream of being in situation Siemens is in," he said.
Siemens AG outlined a plan to separate its struggling power and gas division and said it would cut 10,000 jobs, a watershed moment in Chief Executive Officer Joe Kaeser’s drive to dismantle the company’s cumbersome conglomerate structure. The plan announced Tuesday evening, a cornerstone of Kaeser’s strategic push to position Siemens for the future, would be the company’s biggest spinoff in its history. Siemens rose as much as 4.7 percent, and was up 3.9 percent at 106.44 euros at 9:18 a.m. in Frankfurt.