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  • BRASILIA/ SAO PAULO, March 5- A corruption scandal at state-run oil company Petrobras has entered a volatile new phase that could lead to jail for some of Brazil's best-known politicians and business leaders while making a likely recession even worse. A prosecutor's motion on Tuesday to open investigations against 54 individuals, reportedly including the...

  • MILAN, Feb 24- Italian aerospace and defence group Finmeccanica has agreed to sell its rail business to Hitachi Ltd in a deal which will cost the Japanese conglomerate up to 1.9 billion euros and cut Finmeccanica's debt by 15 percent. For Hitachi the acquisition will give it a stronger foothold in Europe where it competes with the world's top three train makers-...

  • MILAN, Feb 24- Italian conglomerate Finmeccanica has agreed to sell its rail assets to Japan's Hitachi in a potential 1.9 billion euro deal that will cut its debt by 15 percent and help it to refocus on aerospace and defence. Hitachi, meanwhile, will gain a stronger foothold in Europe to compete with bigger rivals such as Germany's Siemens and France's Alstom,...

  • LONDON/ MILAN, Feb 23- Hitachi Ltd has agreed to buy Italian conglomerate Finmeccanica's rail and signal assets, sources close to the matter said, a deal expected to top $2 billion and give the Japanese firm a stronger foothold in Europe to compete with bigger rivals. For Hitachi, which relocated its rail division to London last year, the main focus of the deal is rail...

  • *Areva issues fifth profit warning in seven months. PARIS, Feb 23- French state-controlled nuclear group Areva said it expects a 2014 net loss of about 4.9 billion euros, mostly due to asset writedowns and provisions, notably connected with its much-delayed Olkiluoto 3 reactor in Finland. Areva's latest profit warning, the fifth in seven months, comes ahead of the...

  • Feb 17- China is considering combining its huge state-controlled oil companies to better compete with the world's biggest producers, the Wall Street Journal reported. Other options include merging China National Offshore Oil Corp, or CNOOC, and Sinochem Group, the report said. China said late last year that it would merge the country's top two state-owned...

  • 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...

  • 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.

  • 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."

  • China railway strategy goes off track Tuesday, 23 Dec 2014 | 8:38 PM ET
    Mechanics check a high-speed train at Xi'an Electric Multiple Unit Maintenance Base

    A decade after splitting two railroad manufacturers from the same company to promote competition, China now wants to recombine them. The Financial Times reports.

  • Fear factor fades as global M&A hits 7-year high Monday, 22 Dec 2014 | 5:47 AM ET
    Merger M&A

    CEOs got their deal-making mojo back in 2014, emboldened by a clearer outlook for their businesses to take M&As to their highest level since 2007.

  • China Railway Construction flexes muscles abroad Wednesday, 3 Dec 2014 | 6:40 PM ET

    China Railway Construction's shows ambitions to become a global force in transport projects and take on the likes of Siemens, Alstom and Bombardier.

  • India waits for Modi to dig economy out of hole Tuesday, 11 Nov 2014 | 6:21 PM ET
    India's Prime Minister Narendra Modi

    Since the election of Prime Minister Narenda Modi six months ago, the prospect of better times ahead has not yet persuaded firms to invest in India.

  • Wyoming data center: We'll power ourselves, thanks Tuesday, 11 Nov 2014 | 2:43 PM ET
    Microsoft's biogas and fuel cell Data Plant system under construction in Cheyenne, Wyo.

    A Microsoft Data Plant in Wyoming uses fuel cells and anaerobic digesters for zero-carbon power.

  • Mexico scraps $3.75B China rail deal before state visit Saturday, 8 Nov 2014 | 12:28 AM ET

    Mexico has revoked a $3.75 billion high-speed rail contract from a Chinese-led consortium after its uncontested bid prompted an outcry from lawmakers.