Siemens AG, Europe’s largest engineering company, will buy back as much as 4 billion euros ($5.4 billion) of shares as Chief Executive Officer Joe Kaeser bets that an efficiency push will boost profitability next year.
Siemens AG Chief Executive Officer Peter Loescher needed three years to lift profitability of Europe’s largest engineering company past rivals. More advances are likely to come, Morgan Stanley analyst Ben Uglow said.
Alstom SA is seeking to reverse the worst stock return of any major French company this year with a push into renewable energy as the maker of trains and turbines seeks to narrow the gap with German rival Siemens AG .
Siemens AG , Europe’s largest engineering company, is exploring options for its Osram lighting business, including a possible initial public offering or sale, according to three people with knowledge of the discussions.
Osram Licht AG climbed to the highest price since it was spun off from Siemens AG three weeks ago after the lighting manufacturer raised profit forecasts because cost-savings targets are being met early.