Job fears as Siemens industrial profit dives

Updated:8 years, 8 months ago

New Delhi, Nov 09 (ANI): German engineering company Siemens has reported a worse than expected 10 percent drop in quarterly industrial profit and signalled a tough year ahead as it restructures its turbine and wind power businesses, as reported by Reuters. If Germany is the euro zone's engine then Siemen's is in the driving seat of both. The engineering firm is one of the region's largest. And an unexpected 10 percent Q4 drop in industrial profit to 2.2 billion euros hurt. Shares fell almost 2 percent to two week lows. Siemens is already shedding operations in an attempt to turn itself into an industrial software company. It's listing its health care business and its wind and rail businesses into joint ventures. The profit from Power and Gas, Siemens' second-biggest business line after healthcare, plunged 40 percent due to overcapacity and falling prices.

Top Videos

Updated:2 years, 6 months ago

Amid dry winter in Kashmir, snow-clad Bangus Valley in Kupwara district emerges as winter wonderland

Updated:2 years, 6 months ago

Grand welcome given to sculptor Arun Yogiraj at Bengaluru Airport

Updated:2 years, 6 months ago

Injured WB CM Mamata Banerjee meets West Bengal Governor CV Anand Bose

Updated:2 years, 6 months ago

Couple set goals! Husband to lead Sikh Regiment, wife to command ICG contingent in R-Day Parade

Updated:2 years, 6 months ago

Inside India’s and Air India’s first Airbus A350 with luxurious seats, new interiors

Updated:2 years, 6 months ago

J-K: Srinagar’s Ghanta Ghar comes alive with spectacular Tricolour lighting

Job fears as Siemens industrial profit dives

Top Videos

Related Video

Sensex-Nifty open red, skids over 2,500 points amid Iran crisis; what it means for retail investors?

SEBI Chief Tuhin Kanta Pandey speaks on ‘Jane Street’ crackdown and enhanced surveillance measures

Impact of Middle East crisis! Will retail investors feel safe investing in IPOs? SEBI Chief Explains

Gautam Adani visits Baba Baidyanath temple in Deoghar, performs darshan and offers prayers

“Increase export…” Auto Industry expert Bagga outlines industry roadmap after trade deal with US

Distilleries Association seeks GST cuts on flex-fuel vehicles to boost in domestic demand

‘75 years old relation, beautiful Country…’ Sibi George hails India‑Iran Bilateral Ties

Monetary Policy Committee keeps the repo rate unchanged at 5.25%: RBI Governor Sanjay Malhotra

Challenges like obesity, digital addiction need immediate policy attention: Pharmexcil Chairman

Adani defence signs landmark partnership with Embraer aims to redefine future of aviation in India

‘New negotiations, could be final…’ Envoy Juan Angulo shares update on India-Chile CEPA talks

Adani Group invested ₹10,000 Cr generating over 7,000 jobs in last 3 years in Telangana: Karan Adani

Moscow Reveals Winners of International Expert of the Year 2025 Award

Novasensa COO Lacayo says India push critical mineral growth faster by ‘fixing policy gaps’

Union Commerce Minister Piyush Goyal attends 54th UAE National Day celebration in Delhi Union Commerce Minister Piyush Goyal attends 54th UAE National Day celebration in Delhi

"The decision..." India's Defence Secretary Rajesh Kumar Singh gives big update on Kaveri Jet Engine

Electronics Export Council CEO stresses India’s push for self-reliant electronics manufacturing

मुख्यमंत्री भजनलाल शर्मा ने जीएसटी बचत उत्सव के तहत लोगों को किया जागरूक

Piyush Goyal, UAE Counterpart explore fresh investment avenues at 13th bilateral task force

Indian stock market surged on Monday after India-Pakistan ceasefire understanding reached