European shares continue to decline as inflation fears fuelled by the Mideast conflict cause a second consecutive week of losses.
The European?shares continued to decline on Friday, marking their second consecutive week of losses. This was due to the escalating conflict in the Middle East and inflation concerns. The benchmark pan-European?STOXX?600 closed 0.5% down. All major regional exchanges posted marginal weekly losses. The index was dragged down by industrial stocks, which fell 1.8%. Siemens Energy dropped 5.7%, and Rolls-Royce dropped 5.3%. The biggest percentage drop was experienced by miners, who lost 3.3%.
Deka, an investor, says Siemens Energy shouldn't'squander" its wind division
Siemens Energy shouldn't sell its wind division for less than?value. A top-20 shareholder made the statement on Thursday, at the annual general meeting of the group, where the future if the struggling business is a major topic. After U.S. activist investor Ananym called for a review of Siemens Gamesa in December, and a spin-off to boost shareholder value, the future of Siemens Gamesa has become more apparent. Siemens Energy's leadership is open to the idea in principle, but wants to stabilise its business first.
The US AI boom is facing an electric shock
The race for artificial intelligence dominance by Big Tech may hit a snag soon as U.S. power grids struggle to keep up with hyperscalers who spend a lot of money. Microsoft, Amazon Alphabet, and Meta are among the technology giants in America that have announced in recent months plans to spend over $600 billion in AI by 2026. Investors are already unsure about the viability of this strategy due to the investment wave. The ambitious U.S.
As global pressure increases, German Chancellor Merz travels to China in search of opportunities
The German Chancellor Friedrich Merz is visiting China this week. He's the latest European leader to seek a reset of relations with Beijing following a year which exposed the fragility in their supply chains and the collapse of their alliance with the U.S. Merz is making his first trip to China as a?chancellor' and leads a delegation that includes some of Germany’s top business leaders. This includes the heads of carmakers Volkswagen BMW and Mercedes-Benz.
As global pressure increases, German Chancellor Merz travels to China in search of opportunities
The German Chancellor Friedrich Merz is visiting China this week. He is the latest European leader to seek a reset of relations with Beijing following a year which exposed the 'crumbling' of their alliance with?the United States. The collapse of their alliance with the United States was exposed in a year that revealed vulnerabilities within their supply chains. Merz is leading a delegation that includes some of Germany's top business leaders. This includes the heads of Volkswagen, BMW, and Mercedes-Benz.
Siemens Energy investors claim that the spin-off of wind units is premature
In response to an activist investor who called for a split-up, three major Siemens Energy shareholders said that the company should fix its?loss making wind turbine division first before considering a separation. Comments reflect the company's support for its strategy to stabilise the business before considering any strategic options. Ananym Capital, an activist shareholder from the United States, disclosed its stake in Siemens Energy in December.
Top Siemens Energy investors: Wind unit spin-off premature for now
Three of the largest Siemens Energy shareholders said that the company should fix its 'loss-making... wind turbine division, before considering a spin-off. They were responding to an activist investor who was pushing for a split-up. The comments show support for the current strategy of the company to stabilise the business and then look at strategic options. Ananym Capital, an activist shareholder in the United States, disclosed its stake in Siemens Energy in December.
EU meets in Belgian castle for economic rivalry with US and China
Leaders of the European Union gather at a castle in Belgium on Thursday to discuss how they can compete with a global competitor like China, and a less reliable allie like the U.S. as the rules-based order is thrown into disarray. Over the past two decades, EU growth has been consistently lower than US growth, with EU innovation and productivity, especially in AI fields, falling behind. The EU has to deal with Donald Trump’s trade war and, most recently, tariff threats against Greenland.
MORNING BID EUROPE-Yen roars back as US consumer engine sputters
Tom Westbrook gives us a look at what the European and global markets will be like today. The earnings season and data drove markets on Wednesday, while a rebound of the yen was gaining steam. TotalEnergies, ?Siemens Energy, Deutsche Boerse, Heineken, ?Schindler and EssilorLuxottica are among ?the ?companies reporting in Europe. The delayed U.S. job data will also follow unexpectedly weak retail sales, which have raised questions about the health and economy of the world's largest economy.
Take Five: Near or far, wherever the markets are
A few traders may have a little downtime this week due to the outcome of Japan's snap elections, key U.S. economic data, earnings season and a decline in some tech stocks. Rae Wee, Lewis Krauskopf and Lucy Raitano from London, Karin Strohecker and Tommy Wilkes in New York, and Rae Wee, in Singapore, will tell you everything about the financial markets. The coalition of Japanese Prime Minister Sanae Takaichi won a historic election over the weekend. This will pave the way for tax cuts and increased military spending to counter China.
Take Five: Near or far, wherever the markets are
The upcoming week will be dominated by the Japan snap election, key U.S. economic data, earnings season and a decline in some tech stocks. Rae Wee, Lewis Krauskopf, Karin Strohecker and Lucy Raitano from London, and Rae Wee, in Singapore, will tell you everything you need to know about the financial markets. On Sunday, Japan will vote and Prime Minister Sanae Taichi hopes that 'the nation of over 120 millions people' will give her a strong mandate so she can deliver on the promises of increased spending.
Siemens Energy CEO: spin-off wind business idea is valid, but first turnaround must be achieved
Siemens Energy CEO, said on Tuesday that it is reasonable for activist investors Ananym Capital?to push?for the spin-off of a loss-making division of wind turbines?of the firm. Ananym, a U.S. company, said it took a stake in Siemens Energy in December and asked the management to review its wind division, Siemens Gamesa. It claimed that the division could be worth up to $10 billion and a spinoff would increase investor returns by 60 percent.
Goldwind Science under investigation by EU for possible subsidies
The EU launched an investigation into Goldwind Science and?Technology, a Chinese wind turbine manufacturer, on Tuesday after claiming that it received foreign subsidies which gave it an unfair edge in Europe. The European Commission took this action after a group of Chinese wind turbine suppliers were asked for information under the EU’s Foreign Subsidies Regulation, which targets unfair state aid from abroad. The major European turbine manufacturers?Vestas Energy…
Siemens Energy CEO: spin-off wind business idea is valid, but first turnaround must be achieved
Siemens Energy CEO, said that it was reasonable for activist investor Ananym Capital to push for a spinoff of?its wind turbine division. However, the business must first be stabilized and turned around. Ananym Capital, based in the United States, announced in December that it had acquired a stake of Siemens Energy. The company asked management to review Siemens Gamesa's wind division. It said the division could be worth up to $10 billion and that a spin-off would increase investor returns by 60 percent.
Chairman of Siemens Energy says that the CEO will attend Trump's meeting with business leaders.
Joe Kaeser, Chairman of the Supervisory Board at Siemens Energy, said that Christian Bruch, CEO, will be attending a meeting with U.S. president Donald?Trump? scheduled for later in Davos on Wednesday. Kaeser said that he was sure to go. He is also the chairman of Daimler Truck's supervisory board. Kaeser said that the United States is an important market for us from many perspectives, including volume, innovation, speed, and the whole AI data center technology.
What is Fusion Energy, the Quest that Trump Media is so enamored with?
Scientists and businesses have tried for decades to harness the fusion energy that powers the sun to produce electricity on Earth. The $6 billion merger announced on Thursday between U.S. president Donald Trump's Trump Media and Technology Group and?Google-backed TAE technologies is the latest development for an industry still a long way from commercialization. What is Fusion? The process of fusion energy that powers the sun and…
Ananym Capital launches activist campaign after acquiring stake in Siemens Energy
The Financial Times reported that Ananym Capital owns a stake in Siemens Energy, a German company. It is pushing Siemens to separate its wind business. Ananym has 'launched a campaign of activism against the company,' FT reported, citing sources familiar with the issue. The stake was not disclosed. Charlie Penner and Alex Silver, a former P2 partner, founded the activist hedge fund last year. Penner was the architect of a three-seat win at Exxon Mobil by 2021.
US judge approves Elliott affiliate's bid for Citgo Petroleum parent
The U.S. court on Tuesday accepted a bid of $5.9 billion from an affiliate company of Elliott Investment Management at the auction held by the court for Citgo Petroleum, clearing the path to the sale of Venezuela's PDV Holding. Judge Leonard Stark of Delaware overruled any objections pending to the bid. He set a deadline of Friday for a report containing any other important issues that may have been overlooked. He instructed a court official overseeing the proceedings to present a proposed order for sale in time to sign by Monday.
Increased wind energy output will pressure prices
French and German power rates are expected to be under pressure on Monday, as wind power production increases. Milder weather is also likely to follow a recent cold snap that has boosted day-ahead contract prices this week. LSEG data shows that the German and French baseload power Monday contracts were not traded by 0822 GMT Friday. LSEG data shows that the German wind power production is expected to increase by 18.7 gigawatts on Monday, while French wind generation is projected to rise by 6.7 GW up to 11.4 GW.
Siemens Energy gives investors $11.5 Billion as the power market booms
S iemens Energy announced on Thursday that it will return up to 10 billion euro ($11.5 billion), to its shareholders by the year 2028, on the backs of booming demand in power infrastructure equipment. This has boosted the company's shares to a new record high. Siemens Energy announced that up to 6 billion euro would be spent on a share-buyback program, while the remainder will go towards dividends. This announcement was made as part of an event celebrating the U.S. Capital Markets Day.