Peter Loescher News
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Siemens AG will close its solar power unit after struggling to find a buyer following losses of at least 784 million euros ($1 billion) euros since 2011 amid Chief Executive Officer Peter Loescher’s failed push into that business to expand renewable energy offerings.
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Siemens AG, Europe’s biggest engineering company, said Germany can cut the cost of its switch to renewable energy from nuclear power by 150 billion euros ($196 billion) by focusing on gas and sea-based wind generators.
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OAO Russian Railways is planning more than 5 trillion rubles ($157 billion) of high-speed rail links as the world’s largest country by land mass plans to host the 2018 soccer World Cup.
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Siemens AG’s project-financing unit is on track to meet its growth target ahead of schedule, helped by demand from Asian customers for credits to support infrastructure investments.
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Siemens AG, Europe’s largest engineering company, cut its full-year forecast after quarterly earnings missed analyst estimates amid charges for failed wind energy transmission projects and the delayed delivery of trains.
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Siemens AG Chief Peter Loescher’s fourth profit forecast cut in his six-year tenure has investors questioning whether he’ll be able to reach a target for matching profitability at General Electric Co. and ABB Ltd.
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Siemens AG shareholders yesterday approved the spinoff of the underperforming Osram lighting unit. Declining orders, rising costs and a contracting European economy will lead to more disposals.
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Dresser-Rand Group Inc., with one of the best sales outlooks among makers of oilfield equipment, is turning into a takeover candidate for buyers such as Siemens AG, National Oilwell Varco Inc. and Cameron International Corp.
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Siemens AG Chief Executive Officer Peter Loescher is finding that the single largest acquisition he made in the past four years may turn out to be one too many.
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Two years after proclaiming an end to more than a decade of restructuring, Siemens AG Chief Executive Officer Peter Loescher is back in familiar territory.
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