outside the munich venue to protest siemens environmental record shareholders in europe's biggest engineering company were keen to learn the financial details orders and earnings were lower in the 1st quarter. but before c.e.o. joe kayser could address siemens results he have to deal with the environmental issues he told media it was grotesque the project in australia had made siemens a target of environmental protests but that doesn't change the fact that the signal equipment we delivered ensure a safe rail transport and is relevant to the overall operating of the controversial mine is qasr is in its last year at the helm and is attempting a major restructuring of siemens which makes everything from trains to wind turbines siemens reported study profits despite a drop in orders in the october to december period way down by weaker performances in the also in energy sectors sluggish results for its when business could hinder siemens bid to launch a new energy company with plans for siemens energy to go public later in the year

protesters gathered at the penny will shareholder meeting zimmerman's where europe's biggest engineering company reported a slow start to the year demonstrators formed a human chain outside the meeting in munich they were protesting against zaman's role in a controversial australian mining contract environmental was worth just one of the headaches for the german industrial job which makes everything from trains to wind turbines the company also reported weaker than expected 1st quarter profit in its flagship digital industry's business. our correspondent stephen beardsley is in munich for the shareholder meeting stated why is siemens such a focus for climate activists. well terry is exactly that australian project that you mentioned that's one of the biggest reasons that an 18000000 euro project that the c.e.o. of siemens had suggested was under a rethink due to the climate activists then that c.e.o. joe kayser turned around and said well actually we're going forward with it that after his board of directors voted unanimously to continue it and he came back and said look if we had gone if we had

as well as mechanical and electrical engineering companies but the corruption and financial mismanagement under former president jacob zuma has dragged on the economy. over the past decade economic growth has been slowing steadily from 3.2 percent in 2011 to just 0.6 percent last year. current president cyril ramaphosa has vowed to change that his target is to raise growth to 5 percent by 2023 foreign investors who bring jobs as well as money to the country would help that so german companies are welcome here. we're now joined from frankfurt by jeremy gans he's a business consultant for african countries jeremy how do african companies see this german engagement in africa i think they welcome it but what they're looking for really co-investors not sellers they don't want to just be buyers of german products they wish to see german companies come in and partner with them in the key areas of the future of the african continent power generation and mobility and the german government is doing a lot to help at the moment as symbolized by chancellor merkel's visit but german in africa is still

austin is in charge of engine development at the company. one wonders why it's still working on diesel powered models. customers trust you. because emission levels have been checked and confirmed by independent external bodies they tested engines like this their own location and they confirmed. this is the engine he's referring to. it's a diesel electric hybrid designed to power an s.u.v. . the only manufacturer to make it. a great advantage is that fuel consumption is low on longer trips and with its large capacity high voltage battery it's entirely emissions free tailpipe. emissions for purely electric no emissions coming out the tailpipe. but only in electric mode. while most cities evidently thinks that diesel has a future industry analysts do not. know how much time is left on. 15 years. battery powered cars will be so far advanced that there will be hardly any deficit in terms of usability or performance compared to today's combustion engines. well until diesel and gasoline a gone for good if ever the current catch phrase when it comes

engine company. this ultimate marriage of design and engineering promised a way of life. exclusivity independence the ideal get away from the daily grind. soon enough sports cars went from being on the vehicles to stars of both the big and small screen. and on game consuls too. in the virtual world these cars deliver plenty of action. some new models now even get launched in video games. 2 and if that what's your appetite how about one of the. chia sting or. the b.m.w. for 40 i grant who pay my for the lexus l c 500. of course to really put cars like these through their paces you need a race track. or at least a test track like the one in lintas near berlin. our clients who attend our training courses cover all different vehicle groups motorbikes passenger cars i pads and trucks we cater to both private individuals and commercial clients with. a quick look under the hood before we get going the stinger has a twin turbo v. 6 engine that cranks out 269 kilowatts. is a subsidiary of south korean car giant hyundai. and the stinger is out to muscle in on the european sports ca

this japanese parts supplier produces components for molds which in turn are used to make car engines. company executives say the number of orders have been declining since last october. it's been that way since the u.s.-china trade war erupted with no signs that business would pick up any time soon. so the executives have shifted to a new strategy. the company now offers maintenance and repair services for its components. the aim is to build confidence with clients. >> many of our customers say they want to cut costs without spending extra money. we want to impress our customers by offering quality maintenance services hoping they choose our servicices again when the econo improves. >> many others in the auto industry are also grappling with the effects of the coronavirus outbreak. >> this auto parts factory in thailand uses components imported from china. the manufacturer is worried that the spread of the virus could hinder the sourcing of those parts. >> company executives say some ofof the imported components cod be made, but would require additional i investments.. for otherer itetem, loc

outside the munich venue to protest siemens environmental record shareholders in europe's biggest engineering company were keen to learn the financial details orders and earnings were lower in the 1st quarter. but before c.e.o. joe kayser could address siemens results you have to deal with the environmental issues he told media it was grotesque the project in australia had made siemens a target of environmental protests but that doesn't change the fact that the signal equipment we delivered ensure a safe rail transport and is relevant to the overall operating of the controversial mine is. kayser is in his last year at the helm and is attempting a major restructuring of siemens which makes everything from trains to wind turbines siemens reported study profits despite a drop in orders in the october to december period way down by weaker performances in the auto and energy sectors sluggish results for its when business could hinder siemens bid to launch a new energy company with plans for siemens energy to go public later in the year the company also saw a weaker than expected 1st quarter profit in its

rockets especially if somebody like boeing which is too big to fail is the one aeronautical engineering company in the united states that 7 percent of our exports it's got to survive certainly more than jamie diamond's j.p. morgan so freaking boeing post 1st annual loss and more than 2 decades a 737 max crisis continues now sometimes max you are a broker at bad news like that like the 1st loss in 20 years normally foot's a got to dump that turkey nope it was up as you see here 1.74 percent in the premarket on that news and then it went up even further right so let's put this into historical perspective so let's say after world war 2 the 1950 s. it's america it's booming you have 2 soda companies and they're competing they're the dominant players in the soda business and they're competing and if one of the soda companies announces oh my gosh we found something in our soda that's poisonous then the stock of that soda company would go down but let's flash forward to 2020 and this new 21st century form of capitalism based on bailouts and easy money and if you have money if so to company b. and moun

one of the companies with its numbers going up is the swiss engineering company abb.earnings. it's a busy day for earnings. it's a busy day for earnings. you can see the markets in europe are all down about a quarter ofa%. now to the us, where department store chain macy's is closing over hundred stores and cutting 2,000 jobs in its hunt for growth. michelle fleury has more from new york. shopping malls aren't dying, but the weakest ones are disappearing fast, and that is hurting department stores. the latest casualty is macy's. the chief executive of the 161—year—old chain said it's closing its cincinnati headquarters. new york will remain the single head office. 125 stores, a fifth of its locations, will go over the next three years and it's cutting 2,000 corporate staff. the move is expected to save it $1.5 billion annually at the end of 2022. the cuts are an admission that it can't succeed so long as shoppers make fewer trips to the mall and spend more time shopping online. macy's isn't giving up yet. the retailer has launched a small store format which will opera

there was engine company 22 preparing to put a hose line into the building and the incident commandertains wire's assignment, the primary search, acknowledged as primary search and entered the building with engine 22. there are three firefighters in the house fire rescuing the homeowner. >> 95 years old. where does this stand now? as of tomorrow he will be suspended? >> from yesterday he was not ordered out of the building, they were put on primary search. his job was to search for people. it has been said he went in alone, two others and miss ryan, he was able to see the smoke and equipment and training of the firefighters received in atlanta and made a split-second decision that has been judged for months now and that is not what we are supposed to do with firefighters, we are supposed to trust them to make decisions on the ground to save people who rely on them. >> what does it say to other firefighters making split-second decisions. will make them more hesitant? we are almost out of time? >> the firefighters are going to uphold their oath and when called to duty they will put the

company. they give away their tech, their software that they develop, they give that away for free except for their search engine that they completely control and locked out. their valuable stuff they keep but they make their money on advertising. there are a bunch of other companies, the gentleman asked about other tech companies like microsoft and amazon supporting. i don't know if amazon has come out and supported google's position but microsoft and ibm and red hat supported google's position. they don't make their money on tech either. you see how they are making their money charging for computer cycles in the big cloud services facilities. speaking of microsoft they make their money not distributing their software anymore. it is all in the cloud and they are causing -- all paying microsoft $99 a year for access to their sweet of software. that is very different model, charging for the access of the software and they are compensated based on cycles so software has become the content for these cloud service providers and if they find content for free, for reduced price, wouldn't netflix like to have disney fo

they're moving quickly to the process because we have unleashed the power of the engineering talent of these great companies we are doing business with. the change in how we approach the contract and the request for proposal, and it changes the behavior of how we interact with these companies when developing weapons system. we tried doing it the other way

company and so they give away their tech, right? they give away their software that they develop. they give that away for free, except, of course, for their search engine, right, that they completely control and lock down. so their valuable stuff they keep, but they also make their money on advertising. there are a bunch of other companies. i think the gentleman here asked about, well, why are other technical, tech companies kind of like microsoft and amazon supporting -- and i don't know if amazon has come out and supported google's position, but microsoft and ibm and red hat have come out and supported google's position. why is that? well, you know, they don't make their money on their tech either. they're changing cloud business services, right? so you see how they're making their money is charging for compute cycles in their big cloud services facilities and they, you know, and kind of speaking about microsoft, i mean, they make their money not distributing their software anymore, it's all in the cloud and so, they're kind of charging, you know, you might all be paying microsoft $99 a year for access to their, you know, kind of suite of software, w

. >> i'm having that extra engine company available for us could have made a world of difference. >> on january 15th, the city of union city closed fire station 30 for good. >> it closed because it was underutilized. >> an independent study showed station 30 was handling on average 1.7 calls a day and costing the city $3.2 million a year. after sunday's high wind event and the effect it had on union city, we asked the mayor. did it at all make you rethink the need of that station in that area? >> that station is underutilized. >> so it didn't make you rethink that? >> no, it did not make me rethink reopening that station at all. >> at 6:00 p.m., we're going the hear more from the mayor of the city who says she has a plan to be able to respond to all the calls that were received at this station previously. in union city, luz pena, abc7 news. >> thank you, luz. >>> new developments. san francisco's public works director resigned today as he fights federal corruption charges. the mayor's office says mohammed nuru submitted his reservation. he and lefty o'doul's owner nick bovas was arre

stephen: bill nelson and his daughter kristen show us what's left of the family's general engineering construction company started by his father in 1954, outside fresno. kristen nelson: they had, quote unquote, promised us a whole lot more work in this high speed rail. stephen: work that bill nelson says never materialized. bill: probably spent in the neighborhood of a half a million dollars for excavators, loaders, water trucks, crew trucks to man up for this work. stephen: after initially signing a contract in 2017 with dragados-flatiron for more than $2 million worth of subcontract work on the high speed rail project, nelson's investment in manpower and machinery sat idle because high speed rail authorities had not obtained the proper rights of way. bill: not one work order we ever did, did we ever complete it, not one. stephen: as for the work the company did perform, kristen says it took up to seven months for the money to funnel down from the state to dragados and then finally to her bank account. and when the progress payments did arrive, the checks did not cover nelson construction's cost, a fract

europe's largest engineering company posting quarterly profit that missed estimates.mens was hurt by a steep decline in machine building and energy businesses. we're ending on an online poll. it may decide where tesla builds its next factory. the c.e.o. asking his 31 million twitter followers if the electric carmaker should build a plant in texas. early today about people who voted, they voted yes. and that's your bloomberg business flash. alix: thanks so much. that's one way to generate excitement. let's stay with tesla. we've seen shares more than double since the start of the year, really unbelievable rise. but it does have a way to go before it approaches what one research firm called qualcomm's truly insane rally two decades ago. if you take a look at this chart, the white line is tesla's surge, and the orange line is where qualcomm was may 1999 at the january 2000. you can see how tesla is not quite at that level that qualcomm had. nevertheless, it has risen a whopping 396%. qualcomm was up 557% over a similar time frame. but if tesla can really stay, tesla and

they do a one day -- for example, the engine company will go up to six hours and do cancer screening, cardio screening, they do all kinds of tests in one location, and they come out. what they have done with them is the results are given to the members to share with private physicians and then the department gets raw data back to us to tell us the general health status of the department. they make sure it's done. they set up shop in one of the facilities. i will see it tomorrow. they go through all these steps and they do this. >> i know confidentiality is a big deal there and it's very important. is a much of a budget impact in contra costa on having that type of health check process done? >> i don't know how their budget is. i will have to talk to them about that. we have money in the budget and we are asking in the new budget to have the capability of doing this. our goal is to do it every other year for now and when the budget is able to increase, to do it every year. we are going to that goal. we haven't done it in a long time. i think it's really important. it is part of prevent

that's not going to happen this is a high engineering quality company that's spent the last year andsigning this plane to make sure it doesn't happen by the way, the path of least resistance in the shares is up so this is a good hold. >> i would have called that a very nice low probability disclaimer i think it's fine what jim did. >> i don't know why you're upset about that i really don't joe is doing his dramatic, oh, my god what are you talking about joe is like the moral quotient over here. did you say i can't believe you said that? i'm analyzing the stock. there's downside risk, upside risk. >> that's a pretty big downside risk exhausting. >> how do you think i too. >> i was looking at you both all right. earnings, trades are comincvs. we'll take a look at cisco, which jim owns as well back after this. when we started our business we were paying an arm and a leg for postage. i remember setting up shipstation. one or two clicks and everything was up and running. i was printing out labels and saving money. shipstation saves us so much time. it makes it really easy and seamless. pi

engine of destruction. in the. company to not get that. story as usual. thinking of getting a new phone the ones we got in our shop around why it's so they know it's still trapped in this tiny little wired we don't need a crate with the wall. freaking out into the wall when it's raining anywhere near and thousands of breeding dogs are caged in in 2 main conditions on puppy farm i mean 67 years you know they've been locked up in cages outside you see no protection from the weather the heat you know the courtier the rain the snow the thunder nothing they have no protection. because you. know it's ok. across the us cruel puppy mills are supported by dog shows and still most of the puppies that are coming from these large scale factory farming kind of operations are being sold in stores even joined a group businesses are involved like agoa mom center there has been a shocking amount of organized opposition to adverts to increase the standards of care for dogs bred in commercial rating for so many most of that opposition is coming from huge agricultural groups

american society of civil engineers, the value of water campaign, the american council of engineering companies, the association of equipment manufacturers, transport workers union of america, the american public transportation association, transportation trades department, aflcio, the american road and transportation builders association, airport council international north america, build together, and north america's building trade unions. thank you. give them a round of applause. [applause] zachary: i'd like to thank our sponsors whose generosity's made has made this possible. our sponsor, hntb, and our forum sponsors autodesk, parsons, and wspufa. thank you very much. [applause] zachary: i'd like to share a special thanks to "the wall street journal" for being our media partner. and the moderators of today's conversation. and for the immense amount of work that they have put into preparing for this event. to the press covering this and event and to the viewers tuning in on c-span and on livestream, thank you for joining us today and for your passion on this issue. and if you're following in

cable tv had been such a growth engine for this company and it needed to direct investors to a new areaness grew from 900 million to 400 billion. growth,just staggering almost as much as netflix grew overall. thisis something bob iger is the future. bob iger can point to and say, this is the future. i think investors will give them a pass in the short term. taylor: wall street has been scratching their heads protest the shares. -- heads over tesla shares. $887closed at a high of before pulling back later in the week. we were told this week that the initial run-up is inexplicable. >> everybody has a pain threshold. what a stock because of dynamic growth aspects, you have to just walk away -- when a stop becomes onboard -- stock becomes of dynamicause growth aspects, you just have to walk away. --- views on out recent tesla. it is the leader of electric autonomous vehicles and that is the leader of the auto market. cars have struggled to produce ev on par with tesla scars and they are really just running away from the competition. 7000, that's a very impressive prediction from where we ar

global economy the coronavirus continues to stall the world's economic engine along with production for the multinational companies that rely on it the new test factory in shanghai but right now it's making nothing production lines here are expected to start rolling again on february 10th. the extended holidays across china have delayed deliveries of the more $23.00 and sent the share price plummeting by more than 17 percent. in chinese factories are also at a standstill and production here not shed to start until next week. but no other german firms are as closely linked to china as car makers and their suppliers companies are taking each day as it comes given the ever increasing spread of the coronavirus german mechanical engineering is also closely intertwined with china the found manufacturer. operates 3 plants here all of which are currently closed at the behest of the government in beijing foxconn the chinese computer manufacturer is also affected here to what should start on monday at the earliest in shanghai there are very few companies where production is busy but this is one factory that been working ove

is not about corrupt deals with africa with the chinese companies is rather a general question of pattern age and us a lot of institutions engine western companies have covered some of them have been implicated major corruption scandals only after and partnered with african governments i think that's the issue i don't really think that the u.s. can tell africa that american companies without detail and this that will begin the ones when it comes to the continent yes that is because on about the quality of chinese investment beyond infrastructure and the manner in which and these companies and in fact some of their bus and rail on offer on the continent and treat and deal with africans i think that's the major course none of us and region some few pieces on this particular matter but generally i think africa is for grabs unfortunately for me as an african my course on is whether or not the opportunities that china was or the opportunities that now will in mind as a result of this apart and competition is one in which african governments and african. economic leaders able to strategically peak and make the best deal for ordinary