Thursday, 20 February, 2020

Alstom shares surge on Siemens rail tie-up

Alstom shares surge on Siemens rail tie-up Alstom shares surge on Siemens rail tie-up
Christy Curtis | 28 September, 2017, 00:17

Alstom, one of France's long-established railway and train operators, employs 32,800 people in fast train (TGV) and tramway manufacturing area. A Franco-German deal would also limit competition concerns in Germany compared with a Siemens-Bombardier tie-up - and mean fewer politically hard job cuts, the newspaper said. That seemed a very distant prospect at the height of the confrontation over the 600 million-euro Channel Tunnel tender ($703.19 million). At the time of negotiations with GE, Siemens had also been interested in a sweeping combination with Alstom, but was rejected by the French company and its owners, which also include conglomerate Bouygues SA.

The combined company will be called Siemens Alstom, and will merge only the rail operations of the two companies.

But unions in France accused the government of neglecting strategic interests. The defeat in its home nation came as a body blow to Alstom, which had been regarded as rail royalty since the original Train à Grande Vitesse snatched the world speed record from the Japanese Shinkansen in the 1980s.

The combined company, Siemens Alstom, would make systems and equipment for two of Europe's high-speed rail lines, Germany's ICE and France's TGV, which can zip between cities at about 185 m.p.h.

The French government, which owns around 20 per cent of Alstom, will ditch its stake as part of the deal.

Watch the Blade Runner anime from Cowboy Bebop director Shinichiro Watanabe
Check out what Denis Villeneuve had to say in the player above and below is exactly what we talked about. Nexus Dawn", was released August 30, and the second, " 2048: "Nowhere to Run ", dropped September 15.

Siemens will receive 50% of Alstom's share capital on a fully diluted basis. Siemens becomes global number 2.

"Of course this is a large deal so no surprise it will be looked quite closely by the European Commission", he said.

The deal leaves out in the cold Canadian transportation group Bombardier, which also held talks with Siemens, sources have said, and which faces a separate battle this week to protect jobs in Quebec and Northern Ireland.

"This [merger] will give our customers around the world a more innovative and more competitive portfolio", said Siemens AG President and Chief Executive Officer Joe Kaeser.

French and German leaders have for years called for the creation of "European champions" such as Airbus AIR.PA to capitalize on the strengths of Europe's single market and create the scale needed to compete with USA and Asian rivals. Jochen Eickholt, CEO of Siemens Mobility, will assume an important responsibility in the merged entity, the company said.

Recommended

Hillary Clinton Spent 600 Hours On Her Beauty Routine Last Year Hillary Clinton Spent 600 Hours On Her Beauty Routine Last Year She reflected on the 2016 election as an example of staying true to her "authentic self". She also added that she found her comments on women who voted for Trump "insightful".

Catalonia Referendum: Spanish Police Deployed to 'Neutralize' Polling Stations Catalonia Referendum: Spanish Police Deployed to 'Neutralize' Polling Stations Whether that strategy will be seen as a critical step on the path toward independence, or a step back, only time will tell. Polls indicate that a vote for independence is by no means certain - the region is split equally in favor and against.

Top US general voices support for transgender troops Top US general voices support for transgender troops She asked Dunford if he had had the chance to meet with any transgender troops since the ban was announced . The guidance left it up to the Defense Department to decide the fate of now serving transgender troops.

NZ dollar under pressure as greenback pushes higher NZ dollar under pressure as greenback pushes higher Trump has praised Yellen since taking office, saying he approves of the Fed's current low interest rates and respects the chair. Stocks opened higher and traded in positive territory for much of the day before running out of steam in the final hour.

Saudi Arabia to allow women to drive Saudi Arabia to allow women to drive In fact, the majority of the members of the Council of Senior Scholars in the Kingdom agree that Islam does not ban women from driving.

Gas Prices in Hartford Area Slip Following Jump After Hurricane Harvey Gas Prices in Hartford Area Slip Following Jump After Hurricane Harvey In the Warren-Youngstown area, the average cost of a gallon of regular gasoline was $2.38, according to national auto club AAA. However, compared to this time previous year , Florida drivers are paying 52 cents more for a gallon of gasoline.

McConnell: Debate over nation's health care will continue McConnell: Debate over nation's health care will continue Susan Collins , who announced her opposition Monday, joining three fellow GOP senators, essentially assured the proposal's defeat. Trump called into the "Rick & Bubba Show", a talk show based in Alabama, to discuss the state's Senate primary on Tuesday.

Jared Kushner Used Private Email Account To Conduct Government Business Jared Kushner Used Private Email Account To Conduct Government Business Sanders would not say whether the White House would release Kushner's private emails that dealt with government business. The private account in question was reportedly set up in December, during the transition.

Bali volcano eruption could be 'hours' away as 75000 evacuate Bali volcano eruption could be 'hours' away as 75000 evacuate Many Indonesians live close to volcanoes because the lava flows can make the surrounding land and soil fertile for farming. Ms Goh said she had a clear view of Mount Agung yesterday morning when she climbed Mount Batur, which is about 40km away.

Trump directs $200 mn annually to sci-tech education Trump directs $200 mn annually to sci-tech education Explore administrative actions that will add or increase focus on Computer Science in existing K-12 and post-secondary programs. "It's easy to classify computer science as tech to enable getting a job in Silicon Valley or New York", Ms.

Equifax CEO retires in the wake of massive cyber attack Equifax CEO retires in the wake of massive cyber attack Up to last week, only about 15 million people had actually done the steps required to find out if they're one of those". An Equifax spokeswoman said in an email she was working on a response to whether Smith would still testify .

Hackers hit accountancy firm Deloitte, stealing plans, emails and passwords Hackers hit accountancy firm Deloitte, stealing plans, emails and passwords The breached data may have included names, addresses, social insurance numbers and - in some cases - credit card numbers. The Equifax breach was discovered in July, but those potentially affected were notified only in mid-September 2017.

WAFU Cup: Ezenwa Named Best Goalkeeper, Despite Ghana Humiliation WAFU Cup: Ezenwa Named Best Goalkeeper, Despite Ghana Humiliation Ezenwa kept clean sheet in Nigeria's first four matches before poor defending exposed him to the four goals he conceded last night.

Abenomics, snap elections in Japan Abenomics, snap elections in Japan Diverting the funds, however, would make "achieving the primary balance surplus by fiscal 2020 hard ", he said. Koike announced on Monday that she would lead candidates across the country under the "Party of Hope".

Aaron Rodgers Finally Wins First Career Overtime Game In Victory Over Bengals Aaron Rodgers Finally Wins First Career Overtime Game In Victory Over Bengals With the Bengals giving their own response to President Donald Trump's comments about athletes protesting the National Anthem. The Packers started sluggishly in the first half, causing them to gradually sink into a 21-7 hole through two quarters.