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Siemens AG

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  • BRUSSELS, Feb 9- Rich nations provided nearly $15 billion over a decade from 2003 to 2013 to fund exports of coal-fired power plant and coal mining technology, data seen by Reuters shows, defying calls to end subsidies for the most polluting of the fossil fuels. A document prepared late last year by the Paris- based Organisation for Economic Cooperation and...

  • MUNICH/ FRANKFURT, Feb 6- Siemens Chief Executive Joe Kaeser applied the finishing touches to his overhaul of the German industrial group with the announcement on Friday of 7,800 job cuts designed to streamline management and speed decision-making. The roughly 2 percent cut to the trains-to-turbines group's global workforce will generate productivity...

  • Siemens to cut 7,800 jobs in restructuring Friday, 6 Feb 2015 | 4:32 AM ET
    A worker installs components at the base of a wind turbine blade at the Siemens AG turbine blade plant in Fort Madison, Iowa.

    Siemens plans to cut 7,800 jobs worldwide, or about 2 percent of its workforce, to complete a wide-ranging restructuring of the company.

  • *Q4 net profit $680 mln vs poll avg $720 mln. ZURICH, Feb 5- Swiss engineering group ABB took a cautious stance on earnings for the coming months after a strong U.S. dollar, sluggish global economy and a slide in oil prices caused it to miss expectations in the fourth quarter. Like rivals Siemens and Schneider Electric, ABB has been grappling with delayed capital...

  • *Q4 net profit $680 mln vs poll avg $720 mln. Like rivals Siemens and Schneider Electric, ABB has grappled with a sluggish global recovery that has delayed capital spending by its customers, which include utility companies and oil, gas and mining firms, as well as a slide in oil prices. The Zurich- based company said fourth-quarter orders fell 6 percent to $9.37...

  • HELSINKI/ FRANKFURT, Jan 29- Nokia reported higher than expected profits at its core Networks business on Thursday, on the back of strong sales in North America, but group profits took a knock from higher costs at its Technologies unit which handles its patents and develops new products. The Finnish company, which sold its former flagship phones business to...

  • *Networks business grew 8 pct in q4 driven by North America. HELSINKI, Jan 29- Finland's Nokia on Thursday reported stronger-than-expected quarterly profits for its core network equipment business on the back of network roll-outs for faster 4 G mobile services in North America. Nokia, which ranks third in the global network gear market after Ericsson and...

  • *U.S. stocks fall on disappointing earnings; MSCI global index slips. NEW YORK, Jan 27- World stock indexes fell on Tuesday following disappointing company earnings, while the dollar retreated after an unexpected decline in U.S. durable goods orders. All three major U.S. stock indexes ended more than 1 percent lower, with shares of Microsoft, down 9.3 percent, and...

  • *Ericsson and Philips fall after weak updates. LONDON, Jan 27- Renewed concern over Greece and weak results at companies such as Siemens and Philips halted a winning run on European stock markets on Tuesday. The euro zone's blue-chip Euro STOXX 50 index also declined 1.4 percent after a similar eight-day winning streak.

  • Siemens chairman says to stay on until 2018 Tuesday, 27 Jan 2015 | 9:35 AM ET

    MUNICH, Jan 27- Gerhard Cromme, the powerful chairman of German industrial group Siemens, will stay on until the end of his contract in 2018, he told shareholders at Siemens' annual general meeting on Tuesday, a year after facing public calls to resign at the same event. Cromme, 71, has been on Siemens' supervisory board since 2003, during which time he has seen off...

  • MUNICH, Jan 27- Siemens Chief Executive Joe Kaeser faced tough questions on Tuesday about his stewardship of Europe's biggest engineering group, 18 months after overthrowing his predecessor in a messy boardroom coup. Siemens shares fell more than 3 percent and Kaeser, 57, faced criticism at the company's annual meeting in Munich. "Even if you are the right man at...

  • *Ericsson and Philips fall after weak updates. LONDON, Jan 27- Renewed concern over Greece and weak figures from leading companies such as Siemens and Philips halted a winning run on European stock markets on Tuesday. The benchmark Athens ATG equity index fell 3.6 percent and Greece's borrowing costs rose.

  • LONDON, Jan 27- The euro rose and shares slipped in Europe on Tuesday as mixed corporate earnings and concerns over Greece kept investors cautious ahead of a busy week which will include the first policy meeting of the U.S. Although core bond yields held near those lows, lower-rated yields edged higher after Europe signalled it would not yield to a new Greek...

  • *Siemens, Ericsson, Philips lead falls after weak updates. LONDON, Jan 27- European shares were little changed on Tuesday as disappointing updates by companies like Siemens and Ericsson raised concern about the coming earnings season and weakened demand for stocks after an eight-day rally. Telecoms network supplier Ericsson was down 3.3 percent after it...

  • European rally hits pause on mixed trading updates Tuesday, 27 Jan 2015 | 3:10 AM ET

    LONDON, Jan 27- European shares opened steady on Tuesday as mixed corporate updates from firms including Siemens and Ericsson tempered investor appetite for stocks after an eight-day rally. Shares in Siemens fell 1.9 percent after it said profit from its industrial units fell 4 percent last quarter, driven by a drop at its power and gas unit, where it is...

  • Russia 'complicated place to be': Siemens CEO   Tuesday, 27 Jan 2015 | 1:00 AM ET
    Russia 'complicated place to be': Siemens CEO

    Joe Kaeser, CEO of Siemens, says China is an attractive market to operate in, whereas Russia remains "complicated."

  • Siemens boss on management reshuffle   Tuesday, 27 Jan 2015 | 1:00 AM ET
    Siemens boss on management reshuffle

    Joe Kaeser, CEO of Siemens, discusses the change of management in the power and gas and healthcare business, saying the company needs the "next generation" of people for the company's development.

  • Dresser-Rand deal makes sense with low oil: Siemens CEO

    Joe Kaeser, CEO of Siemens, defends the company's $7.6 billion takeover of Dresser-Rand in the face of a low oil price.

  • SHANGHAI, Jan 26- China CNR Corp Ltd and CSR Corp, China's two top trainmakers, recently signed deals worth 45.41 billion yuan with Chinese and foreign firms. CNR's deals included the confirmation of a 4.1 billion yuan subway contract with the Massachusetts Bay Transportation Authority, which it announced in October. The two state-backed firms plan to merge to...

  • SHANGHAI, Jan 26- China CNR Corp Ltd, one of the country's top train makers, said on Sunday it had recently signed 24.3 billion yuan of deals with both Chinese and foreign firms. They included a 4.1 billion yuan subway deal with the Massachusetts Bay Transportation Authority, which Reuters reported in October. CNR plans to merge with CSR Corp Ltd, another of China's...