- Reuters
ABB buys Siemens's wiring accessories business in China
ABB has agreed to buy the wiring accessories business of German rival Siemens in China, the Swiss engineering group said on Friday. The acquisition will broaden ABB's market reach and complement its regional customer offering within smart buildings, the company said. No price was given for the acquisition.
- Investor's Business Daily
Siemens Earnings Crater 46% As Tech Giant Highlights AI Data Center Opportunities
Siemens reported smaller-than-expected declines in fiscal second-quarter earnings and revenue Thursday. The multinational tech leader also touted its ability to capitalize on growing AI data center investments.
- Reuters
Siemens Energy boss says there can be no energy transition without China
E urope's energy sector relies too much on China to entertain the idea of de-risking, the CEO of Siemens Energy said, reflecting the dilemma of an industry in need of supplies from the world's No.2 economy - but not the competition that comes with it. The comments by Christian Bruch come as global trade tensions with China are heating up, with the U.S. raising tariffs on Chinese electric vehicles this week and the European Union looking into similar steps to protect local players from unfair competition. Meantime, the EU has launched an investigation into Chinese wind turbine makers and whether they benefit from subsidies in their efforts to undercut the pricing of Western companies like Vestas, Nordex and GE Vernova.
