Chief Company News Correspondent
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Dec 7, 2012

No quick dividend seen for Siemens’ Osram listing

FRANKFURT, Dec 7 (Reuters) – Siemens says
shareholders should not expect any immediate dividend from
lighting unit Osram after its planned spin-off next year due to
the costs of restructuring.

The loss for the fiscal year ending September 2013 will be
smaller, however, than the 378 million euros ($489 million)
booked a year earlier, according to a spin-off prospectus
published on Siemens’ website on Friday.

Nov 30, 2012

Osram to cut 4,700 jobs after spin-off from Siemens

FRANKFURT, Nov 30 (Reuters) – German lightbulb maker Osram
will cut another 4,700 jobs, or 12 percent of its workforce, and
sell factories to compete with Asian rivals after being spun off
from parent company Siemens.

Osram, which has annual sales of about 5 billion euros ($6.5
billion), said on Friday it wanted to save 1 billion over three
years, with half the savings coming from procurement.

Nov 29, 2012

Siemens says Invensys Rail deal will boost profits

FRANKFURT/LONDON (Reuters) – Germany’s Siemens AG promised investors its deal to buy Invensys’ rail business for a hefty 1.74 billion pounds ($2.78 billion) would contribute to boosting profits in a tough economy.

The engineering conglomerate, Germany’s most valuable company, aims to save 6 billion euros ($7.75 billion) and focus on its core areas of expertise to close a gap with rivals such as ABB and General Electric.

Nov 23, 2012

EADS hit by latest shareholder maneuvers

BRUSSELS/FRANKFURT (Reuters) – Accelerated efforts by Germany and France to rearrange stakes in EADS (EAD.PA: Quote, Profile, Research, Stock Buzz) knocked shares in the Airbus parent on Friday as investors fretted about surplus stock and state interference.

In the latest twist to rapidly unfolding events since merger talks with BAE Systems (BAES.L: Quote, Profile, Research, Stock Buzz) collapsed last month, German newspaper Handelsblatt reported France could sell 3 percent of EADS to Germany to help bring Berlin on board as a shareholder.

Nov 23, 2012

VW to invest 50 bln euros in drive to be world’s No.1

FRANKFURT, Nov 23 (Reuters) – Volkswagen AG has
earmarked 50.2 billion euros ($64.7 billion) of investments over
the coming three years as it accelerates plans designed to help
it become the world’s largest car maker by the end of the
decade.

As the company strives to replace Toyota Motor Corp
as the No.1 auto maker globally, it is expanding its presence
outside Europe, building or planning new factories in markets
such as China, Mexico and Russia.

Nov 12, 2012

Taylor Swift dominates MTV Europe awards with 3 gongs

FRANKFURT (Reuters) – Taylor Swift made up for disappointment at the Country Music Association awards with three prizes on Sunday at the MTV Europe Music Awards, one of the biggest nights in pop outside the United States.

Swift, who left the Country Music awards empty-handed less than two weeks earlier, picked up honours for Best Female, Best Live and Best Look, her haul of three matching that of teen heartthrob Justin Bieber.

Nov 12, 2012

Swift, Bieber win three apiece at MTV Europe awards

FRANKFURT (Reuters) – Taylor Swift and Justin Bieber shared the spoils in Frankfurt on Sunday at the MTV Europe Music Awards, each scooping three prizes at one of the biggest nights in the pop calendar outside the United States.

American country singer Swift, who left the Country Music Association awards empty-handed less than two weeks earlier, picked up honours for Best Female, Best Live and Best Look.

Nov 11, 2012

MTV awards bring pop glitz to Frankfurt

FRANKFURT (Reuters) – The MTV Europe Music Awards bring the pop circus to Frankfurt on Sunday, with Barbadian R&B singer Rihanna leading the nominations and the late Whitney Houston to be honored with a Global Icon award.

Houston, who was found dead in a Beverly Hills hotel bathtub on February 11, will be the third artist to be given the award, following Bon Jovi and Queen in 2010 and 2011.

Nov 9, 2012

Frankfurt gears up for Gangnam Style at MTV awards

FRANKFURT (Reuters) – The MTV Europe Music Awards will rock Frankfurt’s Festhalle concert venue on Sunday, with Barbadian R&B singer Rihanna leading the nominations and all eyes on Korean dance sensation Psy.

Psy’s hit “Gangnam Style”, which is up for the Best Video award, has been viewed more than 670 million times and received a record-breaking 4.9 million “likes” on Facebook since being released in mid-July.

Nov 8, 2012

Siemens to sharpen its game with 6 bln euros of savings

BERLIN, Nov 8 (Reuters) – Siemens AG aims to save
6 billion euros ($7.7 billion) by the end of its 2014 fiscal
year, more than expected, as the German engineering conglomerate
fights to stay competitive in a weak global economy.

An industrial bellwether and Germany’s most valuable
company, Siemens has come under pressure to cut costs and focus
on its most profitable businesses as the global economy takes
longer to recover than it initially expected.