FRANKFURT (Reuters) – Siemens AG will need more time to shake off problems at its energy business that have weighed on profits, its chief executive said on Thursday, indicating investors hoping for a fast improvement will have to be patient.
The company reported consensus-missing core profit for its financial third quarter. “There is no quick fix for this (energy business) matter,” CEO Joe Kaeser told analysts and reporters.
FRANKFURT, July 31 (Reuters) – Siemens AG will
need more time to shake off problems at its energy business that
have weighed on profits, its chief executive said on Thursday,
indicating investors hoping for a fast improvement will have to
The company reported consensus-missing core profit for its
financial third quarter. “There is no quick fix for this (energy
business) matter,” CEO Joe Kaeser told analysts and reporters.
FRANKFURT, July 30 (Reuters) – Germany’s Osram Licht AG
expects to cut more jobs in future as customers switch
to new lighting technologies such as LEDs more quickly than
expected, its chief executive said, a day after unveiling plans
for almost 8,000 job losses.
“We always said that the decline of the market for
traditional general lighting will continue. That means that we
will take measures even beyond what we announced,” Wolfgang
Dehen told journalists during a conference call on Wednesday,
adding he could not yet say how many more jobs could go.
HAMBURG/FRANKFURT (Reuters) – Hamburg has told Uber, a U.S. car service whose smartphone app summons rides at the touch of a button, to stop operating in the German city, adding to resistance the company has faced globally from local regulators and taxi drivers.
San Francisco-based Uber Technologies Inc, valued at $18.2 billion in a fundraising last month just four years since its 2010 launch, has touched a raw nerve by threatening to open up a traditionally tightly controlled and licensed market.
FRANKFURT/VIENNA (Reuters) – Talks for Austrian chipmaker AMS (AMS.S: Quote, Profile, Research, Stock Buzz) to buy German peer Dialog Semiconductor (DLGS.DE: Quote, Profile, Research, Stock Buzz) have collapsed, with the two firms blaming differences over price and future strategy.
Dialog and AMS said last month they were in “very preliminary” talks over a deal that could have created a European chipmaker with a market value of about $4.7 billion, and potentially a stronger business to tap the burgeoning market for web-connected devices. AMS makes electronic sensors, which can measure everything from air pollution to the human heartbeat, while Dialog’s chips manage power consumption. Both firms supply chips to Apple (AAPL.O: Quote, Profile, Research, Stock Buzz) for iPhones and iPads.
FRANKFURT, July 17 (Reuters) – German engineering group
Siemens has been preparing an offer to acquire
U.S.-based compressor and turbine maker Dresser-Rand,
German magazine Manager Magazin reported on Thursday, citing
sources close to Siemens.
Siemens has been expanding in the United States and
announced plans to move its energy headquarter there to tap
booming demand for oil and gas equipment, as the U.S. power
industry switches to natural gas from coal.
MUNICH/FRANKFURT, June 23 (Reuters) – Within weeks of taking
the helm at Siemens in 2007, Peter Loescher splashed
out $7 billion for U.S. diagnostics firm Dade Behring. It was
the first of several acquisitions that went bad and ultimately
cost the Austrian his job.
Joe Kaeser replaced Loescher less than a year ago, promising
a more disciplined approach. And in his first major test as CEO
- the politically-charged battle for France’s Alstom – he has
been true to his word.
PARIS/FRANKFURT (Reuters) – Siemens and Mitsubishi Heavy Industries (MHI) raised their offer for Alstom’s energy arm on Friday, challenging a revamped bid by General Electric as the deadline for a decision nears.
President Francois Hollande’s government, which has said it will veto any deal that does not protect French jobs and control over strategic activities, has yet to pronounce on either deal ahead of a decisive Alstom board meeting set for Monday at the latest.
LONDON/FRANKFURT (Reuters) – Britain’s largest pay-TV company BSkyB is in talks to buy Sky Deutschland and Sky Italia, a 10 billion euro deal that would realize Rupert Murdoch’s long-held ambition to combine his European TV interests in a single business.
The potential tie-up would create a broadcaster with 20 million subscribers and more clout to deal with growing competition from rivals such as BT in sport as well as online groups like Netflix in movies and blockbuster TV shows.
PARIS/FRANKFURT (Reuters) – The board of Alstom (ALSO.PA: Quote, Profile, Research) accepted General Electric’s (GE.N: Quote, Profile, Research) 10 billion euro (8.2 billion pounds) bid for its energy unit on Tuesday, several sources familiar with the situation told Reuters. Sources said GE is not in exclusive talks with Alstom. The French transport-to-turbines group is also set to receive an offer from its much larger German competitor Siemens AG (SIEGn.DE: Quote, Profile, Research), which said it had sent a letter to Alstom after its managing and supervisory boards had decided to make an offer.
Alstom is expected to make a statement about the two offers early on Wednesday, before its shares, suspended since late last week, resume trading.