The Saturday Profile: Within 25 Miles Of New York, Iran Offers A Congenial Glow Javad Zarif, the United Nations ambassador from Iran, a country that has had no diplomatic relations with the United States since 1980, is confined in New York.... Read Full Article Pilots Tell City To Ditch BA Top Brass BRITISH AIRWAYS’ 3,000 pilots will this week launch a scathing attack on Willie Walsh, the airline’s chief executive, accusing him of “arrogance” and urging top shareholders ... Read Full Article World Briefing | Asia: Japan: Scaled-Back Afghan Mission Proposed The government submitted a bill that would continue a naval refueling mission in the Indian Ocean as part of Japan’s assistance in the war in Afghanistan.... Read Full Article Comment: Litvinenko Saga Will Run And Run The end of the long New Year holiday in Russia has been marked by a flurry of activity in the investigation into the murder of the former spy Alexander Litvinenko....... Read Full Article Gloomy WPP Misses Revenue Targets Sir Martin Sorrell today turned bearish in his outlook for WPP, commenting on the "as yet" unknown impact of the current liquidity crisis on client spend and the economic repercussions of a ... Read Full Article |
Siemens Warns Profits To Plunge By €900mSiemens, the German technology giant, stunned investors this morning by issuing a surprise profit warning, cutting second-quarter earning forecasts by €900 million (£689 million). The company said that a weak performance by its energy division, as well as poor results from its transport business and the loss of a contract with the UK Department for Work and Pensions is expected to reduce earnings in the three months to March. Two-thirds of the projected reduction in earnings was down to delayed parts delivery and a lack of qualified engineers in its fossil power division. Siemens said the predicted cut would be “the largest piece of any additional financial burdens for 2008”. &&&§ionName=IndustrySectorsIndustrials,mywindow,menubar=0,resizable=0,width=615,height=655); Related Links Siemens to announce 7,000 job cuts Strike threat looms over Siemens pension plan Siemens widens corruption inquiryShares in the industrial giant fell 13.33 per cent to €69.16 in early trading. Todays profit warning is the latest blow to the German company after the group was investigated over alleged bribery. Siemens is cutting 7,000 jobs at its corporate telecommunications unit Siemens Enterprise Networks. Siemens will make almost half the job cuts in Germany. The company is alleged to have paid millions of euros in bribes to cabinet ministers and officials in Nigeria, Russia and Libya. Payments totalling some €1.3 billion (£990 million) are being investigated which, if established as fraudulent, would represent one of the world’s largest corporate bribery affairs. Tag CloudExternal InformationAdditional InformationMySpace Restrictions Upset Some Users...More Americans Are Behind on Consumer Loans... Giving a Gift to Merchants and Banks... Making a healthy crust... Where Am I?News Main Page - Business - Siemens Warns Profits To Plunge By €900m |
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