Siemens Energy sells a majority of its Indian wind unit to TPG, a TPG-led investor consortium
Siemens Energy said it will sell 90% its wind turbine business to an investor group headed by the climate investment division of TPG's buyout group. The move is part of a drive to focus on core markets. No financial details have been disclosed. Following the news, shares of Siemens Energy traded 3% higher by 0832 GMT. Siemens Energy said that as part of this deal, around 1,000 employees in India and two manufacturing facilities will be transferred to the new entity.
Siemens CFO: Political uncertainties are affecting customer decisions
Ralf Thomas, chief financial officer at Siemens, said that customers are hesitant to buy Siemens products due to the political uncertainty. However, he doesn't expect this situation to continue. Thomas stated that companies are delaying investment decisions because they are worried about tariffs, and whether ESG (environmental, social, and governance) risks will still be important after President Donald Trump's attacks. He added: "We are seeing this in many places at the moment.
Two former Siemens executives to be tried for violating Russia sanctions in Germany
The court announced on Friday that a German court had decided to initiate a criminal case against two former Siemens executives who were accused of violating the sanctions by exporting Siemens gas turbines into Russian-occupied Crimea. Last year, prosecutors in Hamburg, Germany charged four Germans as well as a Swiss-French national with alleged sanctions violation. In a press release, the Hamburg Regional Court announced that it would proceed with the trial of two of the defendants…
Two former Siemens executives to be tried for violating Russia sanctions in Germany
The court announced on Friday that a German court had decided to initiate a criminal case against two former Siemens executives who were accused of violating the sanctions by helping to export Siemens gas turbines into Russian-occupied Crimea. Last year, prosecutors in Hamburg, Germany charged four Germans as well as a Swiss-French national with alleged sanctions violation. In a press release, the Hamburg Regional Court announced that it would proceed with the trial of two of the defendants…
Nordex, a manufacturer of wind turbines, expects a stronger second half following the 2024 profit forecast.
Nordex, a German wind turbine manufacturer, reported Thursday that its core earnings for the full year were above analyst estimates. The company reported earnings before interest tax, depreciation, and amortization (EBITDA), of 296 millions euros ($309.79) in 2024. This was above the analyst consensus of 284million euros. Nordex's EBITDA margin for the full year was 4.1%, which is slightly above its highest guidance. The company…
Microsoft's data center worries continue to persist, as Europe's top AI companies slide further.
The sentiment of some of Europe's top AI stocks was dampened for a second consecutive day on Tuesday after an analyst report late last week, which warned of a possible slowdown in Microsoft data centre leasing, impacted the market ahead of Nvidia's make-or-break earnings. In less than a week, the Chinese DeepSeek artificial intelligence model was released. This triggered a sell-off of tech stocks and a reassessment on how much Western companies spend on infrastructure and development.
German business leaders react to the election results
The conservative CDU/CSU group won the most votes at Sunday's election. They could form a coalition with the Social Democrats, easing market concerns that Europe's largest economy would be run by a three-way alliance. "We do not need to discuss the issues anymore, they are already well-known. We need action now." We must act now because the rest of world isn't waiting. And the pressure on Germany to be competitive is immense. "Germany needs to quickly regain its competiveness." Energy policy is crucial.
German business leaders react to the election results
The conservative CDU/CSU group won the most votes at Sunday's election. They could form a coalition with the Social Democrats, easing market concerns that Europe's largest economy would be run by a three-way alliance. "Germany needs to quickly regain its competiveness." Energy policy is crucial. It is essential to expand gas-fired plants, strengthen wind energy and modernize electricity grids, as well as ensure a reliable supply of raw materials. "Germany needs a government who is willing and able to act quickly.
German business leaders react to the election results
The conservative CDU/CSU group won the most votes at Sunday's election. They could form a coalition with the Social Democrats, easing market concerns that Europe's largest economy would be run by a three-way alliance. "Germany needs to quickly regain its competiveness." Energy policy is crucial. It is essential to expand gas-fired plants, strengthen wind energy and modernize electricity grids, as well as ensure a reliable supply of raw materials. "Germany needs a government who is willing and able to act quickly.
Siemens expects to earn around 1.2 billion Euros from the sale of Siemens Healthineers shares
Siemens, a German engineering company, announced on Wednesday that it would sell a 2% share in its healthcare subsidiary Siemens Healthineers. The sale will raise approximately 1.2 billion euro ($1.25 billion), which could be used to pay for the acquisition of U.S.-based software firm Altair Engineering. Siemens will be able to reduce its stake in the medical device maker, which was listed in 2018, from 75% down to 73% by selling 22 million shares via a private placing.
Siemens Energy orders $135 billion in record order volume
Siemens Energy announced a record order book of 131 billion euros ($135.5 billion), boosted by a strong demand for energy equipment. This includes everything from wind and gas turbines, to power converters and electrolysers. According to the company, it also reported a net profit of 252 millions euros for the first three months of its financial year. This was higher than the 130 million euro expected by analysts in a LSEG survey. Siemens Energy has seen its order book grow by over a third in the last few years.
Siemens Energy reports preliminary quarter revenue of approximately $9.4 billion
Siemens Energy, world's largest manufacturer of offshore wind turbines reported a preliminary revenue for the first quarter of 8,94 billion euros (9.37 billion dollars), an increase of 18.4% on a comparative basis, and slightly higher than consensus estimates. The preliminary order figures for the firm were 13.67 billion euro, which is 10.2% lower on a comparative basis. This figure was above estimates. Siemens Energy's midterm outlook…
DeepSeek's "Sputnik moment" prompts investors to dump big AI players
Investors sent technology stocks like Nvidia and Oracle tumbling on Monday as the appearance of a Chinese artificial intelligence model that is low-cost cast doubts on Western firms' dominance in the sector.Startup DeepSeek launched last week a free assistant that it claims uses less data and costs a fraction of what existing models cost. This could be a turning point for the amount of investment required in AI.Futures for the Nasdaq 100 fell almost 4%.
In Davos European executives support Trump's call to action on deregulation
Davos business leaders joined President Donald Trump in calling on the European Union (EU) to increase its efforts to reduce regulations and boost competition so that the EU does not fall further behind other developed countries. Trump said via videoconference to the business elite in Davos at the World Economic Forum annual meeting, that the European Union was unfair and made it hard for the U.S. to import products into Europe.
Stocks of global industrial and tech companies rally after Trump's AI investment drive
On Wednesday, global industrial and technology shares including Oracle and Schneider Electric rose after U.S. president Donald Trump announced a massive investment push in artificial intelligence. Trump announced on Tuesday that the private sector would invest up to $500 billion in AI infrastructure. This announcement sparked interest in stocks which help to build the architecture of the technology. Oracle, one company involved in this effort, rose more than 9,5% in early U.S. market trading.
Wind stocks in Europe suffer after Trump labels turbines as 'garbage.'
The European wind power sector fell Wednesday, after Donald Trump, the U.S. president-elect said that he would work to make sure "no new windmills" were built under his watch. He also criticized the sector just two weeks before taking office. Trump's latest attack on the industry has investors worried about the future of the U.S. Wind Market, which is the second largest in the world after China. This could cause companies that have invested in it to sell.
Japan selects two groups to participate in the third round of offshore wind power
In a third round of major public auctions, the Japan's land and industry ministries selected, on Tuesday, two consortiums as operators for offshore wind blocks, including one that included energy giant BP. Analysts in the industry said that domestic and international companies were watching closely to see how this round of competition, held under a new law encouraging wind power development, would affect their exposure to renewable energy.
Altair deal could be funded by other companies, including Siemens.
Ralf Thomas, chief financial officer of Siemens, said that the company could sell a portion of its shares in Siemens Healthineers and Siemens Energy, as well as Fluence, to fund the $10.6 billion Altair purchase. Siemens owns 75% of medical equipment manufacturer Siemens Healthineers, 17% of Siemens Energy and 31% in energy storage company Fluence. Thomas, an analyst, told investors that the sale of listed companies could generate substantial revenue.
Citgo auction at risk as Venezuelan bondholders file parallel claims
Holders of billions in Venezuelan bonds, notes and other securities have emerged in the last minute as protagonists in an American court case that will decide ownership of oil refiner Citgo Petroleum. They threaten to derail a compensation auction for more than a dozen firms to compensate them for unpaid debts or expropriations. Two groups of holders have taken their cases to other U.S. court to enforce them, and are pursuing the Citgo assets which industrial conglomerates, oil companies, and mining firms have pursued for years.
Russia replaces foreign gas turbine technology with its own high-capacity, Russian-developed gas turbine
The Russian government has developed its own alternative technologies to Western technology that it cannot import. Vladimir Putin inaugurated the new unit of the Udarnaya Power Station in southern Russia via video link, during a ceremony broadcast on state television on Wednesday night. Putin stated that it was important that "we have new production plants and that we become independent, technologically sovereign, at least in the segment," he said.
