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…
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.
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.
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.
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…
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…
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.
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.
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.
Siemens Energy settles with US over gas turbine contract dispute
Siemens Energy said it had agreed to pay $104m to settle with U.S. Authorities after using stolen trade secrets five years ago to inflate its bids on contracts. The proposed settlement between a U.S. Court in Virginia and Siemens Energy revolves around allegations that Siemens Energy used stolen trade secrets to bid for gas turbine equipment…
Siemens Energy extends CEO Contract as Recovery Continues
Siemens Energy announced on Wednesday that it had extended Christian Bruch's contract for another five years. This is the latest indication that the power equipment provider has made a turnaround following a major wind turbine crisis. Bruch has been leading the former Siemens AG division, since 2020. Last year…
Chinese demand drives up global wind turbine orders in H1 of 2024
Wood Mackenzie reported in a Monday report that global onshore wind turbines orders reached 91.2 gigawatts in the first half, an increase of 23% on the previous year. This was due to a higher demand from China's north region in the second quarter. China has the largest wind turbine production capacity in the world compared to Europe or the United States.
Siemens Energy resumes the sale of its 4.X onshore turbine
Siemens Energy has announced that it has resumed the sales of the 4.X wind turbine which was at the center of its largest corporate crisis. This is a sign of the German energy group's full return to the onshore markets. A spokesperson for Siemens Energy responded to a question by saying that sales of the turbines in trouble have resumed, but will be limited to certain markets.
Starmer, the UK's ambassador to Berlin, is there for talks on resetting ties with Europe
On Wednesday, British Prime Minister Keir starmer will discuss an economic and defense accord with German leaders. He hopes to use his two-day trip to Europe's leading powers Germany and France as a chance to reset the relationship with the rest. Starmer stated that he wanted Britain move past the previous Conservative Government's fractious relationships with European allies…
Starmer wants to help Europe reset its ties by pursuing a defence deal with Germany
British Prime Minister Keir Starmer will discuss a landmark economic and defence accord with German leaders on Wednesday, hoping to use a visit to pursue a "once-in-a-generation opportunity" to reset relations with the rest of Europe. Starmer, who is on a two-day trip to Germany and France to promote Britain's economy…
GE Vernova turbine blades fail at UK offshore wind farm
GE Vernova shares dropped nearly 7% Friday after a failure of a blade at an offshore windfarm in the UK. This is the latest incident involving equipment from the power services firm. According to a project statement, the incident occurred at the Dogger Bank A Project, which is located over 130 km off of the northeast coast England.
Norway restarts wind farm after losing 22-ton Siemens Gamesa Blade
The owner of a Norwegian wind farm said that after a four month outage, a large Siemens Gamesa blade will be partially re-started on Monday.Odal Vind lost the 72-metre blade (236 ft), weighing 22 tons, in April. This loss highlighted the challenges Siemens Energy faces after it acquired full control of Spain’s Siemens Gamesa.
Siemens Energy Shares Tumble 31% as Wind Turbine Troubles Exposed
Siemens Energy saw $6.3 billion wiped off its market capitalization on Friday after warning that the impact of quality problems at its Siemens Gamesa wind turbine business would be felt for years.The group scrapped its 2023 profit outlook late on Thursday after a review of its wind turbine division exposed deeper…
Consortium Wins FEED Contract for Keadby 3 Carbon Capture Power Station
A consortium of Aker Solutions, Siemens Energy and Doosan Babcock has been awarded the front-end engineering and design (FEED) contract for SSE Thermal and Equinor’s proposed Keadby 3 Carbon Capture Power Station, which could become the UK’s first power station with carbon capture and storage.Over the next 12 months…
Siemens Energy CEO Buch Calls Wind Division Problems 'Extremely Annoying'
Siemens Energy cranked up the pressure on wind turbine division Siemens Gamesa on Wednesday, saying it was "extremely annoying" that it was having to reduce its profit outlook as a result of the Spanish-listed unit.The comments from CEO Christian Bruch highlight the problems around the arm's length relationship…
