or at this curve sujan now then what's the sense where you are doing invest is believe that siemens have any chance of getting through the crisis without what closures in those job cuts ginnell. well you know investors are actually quite familiar by now with the person of chief executive joe kayser he's not exactly known to be sentimental when it comes to introducing sweeping changes to the company even if massive job cuts are the result we've seen this in the last four years that he's all keep ideas seat now at the same time investors know that as you said it would be difficult to explain to workers why they're losing their jobs at a time where siemens is doing quite well financially so they'll be expecting pushback on that front on the other hand the landscape is changing a sprawling conglomerate really isn't a future proof model anymore and they will welcome efforts to make the company more focused on more agile or original so what then will siemens plans be it's ride this out where will it make your investment. you know these moves are actually part of an ongoing strategy that q

hammer out coalition talks are they doing enough to promote women in the workplace also coming up siemens profits at the sink are workers going to take the brunt of the damage and. the last backhoe knows how all the right to double silos could be the future of urban living. under winter and this is your business update here in germany political leaders are trying to hammer out a deal for a coalition government compromises are in sight for everything from refugee policy to energy but so far nobody is talking about the country's poor record and encouraging women to see the management the european statistics office says the highest percentage of women working in private companies in the e.u. is in latvia where fifty three percent of leadership positions are occupied on women in bulgaria and poland women occupy forty four percent of leadership positions followed closely by ireland and a stony within the e.u. germany's last place with italy and cyprus with women making up twenty two percent of management though germany's chancellor is a woman many activists say politics like corporate boardroo

and siemens employees take to the streets they are protesting the company's plans to layoff almost seven thousand workers perhaps. it's time for business on d.w.i. mho you know guess it's good to have you with us it's the next generation of electric vehicles after cars and buses the streets are ready for electric trucks at least that's what tesla c.e.o. elon musk is proposing last night he unveiled what he is supposed to be a revolutionary range of products including a groundbreaking big semi truck and of course a new sports car. it was a big show for a big truck. musk joked that this would be the most useful eighteen wheeler ever tweeting it could transform into a robot fight aliens and even brew coffee and he said it's built for the long haul but. now one of the biggest questions we've been asked about. electric trucks is well how far can they go because well it's perhaps a five hundred mile range. that's about eight hundred kilometers the driver sits in the middle no need for different models with steering wheels on the right or left musk promised his electrode truck would be cheaper

or at this curve sujan now then what's the sense where you are doing invest is believe that siemens have any chance of getting through the crisis without what closures in those job cuts ginnell. well you know investors are actually quite familiar by now with the person of chief executive joe kayser he's not exactly known to be sentimental when it comes to introducing sweeping changes to the company even if massive job cuts are the result we've seen this in the last four years that he's on his feet now at the same time investors know that as you said it would be difficult to explain to workers why they're losing their jobs at a time where siemens is doing quite well financially so they'll be expecting pushback on that front on the other hand the landscape is changing a sprawling conglomerate really isn't a future proof model anymore and they will welcome efforts to make the company more focused on more agile alright you know so what then will siemens plans be its ride this out and where will it make its future investments. you know these moves are actually part of an ongoing strategy

breaking news now one of germany's best known multinational conglomerate siemens says it is going to slash some six thousand nine hundred jobs worldwide and its power gas and drives divisions which have seen a sharp drop in demand half of those jobs will be in germany where the company makes gas turbines for power plants the demand for those gas turbines like this one behind me has collapsed as power companies switch to renewable energy siemens forecasts global demand of only one hundred new turbines next year and that's for every manufacturer siemens alone has capacity to make one hundred and thirty turbines far more than the market can bear capacity among all the world's top turbine makers together is four hundred units a year now this shows why zeman needs to make big changes his turbine subsidiary is one of the biggest in the company before demand tanks unexpectedly turbines made up to twenty percent of siemens profits the cutbacks will have a major impact on operations in germany factories in two german cities lights and gurlitz will be shut down costing the local economies ther

in twenty years siemens will be listing its medical equipment business at the frankfurt stock exchange next year. and after years of criticism australia is banks will finally be scrutinised by an independent inquiry. this is d.w. business i'm in berlin trade ministers from g twenty countries have gathered here in berlin to avert an all out trade war over steel and as they say with regard to relationships it's complicated china is under fire for throwing cheap steel on to world markets to deal with its overproduction at home after its economy lost some steam recently the us post tariffs on foreign steel that in turn is irritating the e.u. which said it would retaliate german trade minister get it supervisors warned that the chances of an agreement after this conference are slim here's what he had to say. if we do not find a resolution today i think we will miss a great opportunity. because we must always remember it is a good reason why the countries of the g twenty set up the global forum global challenges need global. well business correspondent she pointed she is at the meeting of th

well time now for business news and news for siemens employees and some news that was faired daniel has the story for us right and they've been waiting for this news all day and this story is breaking one of germany's best known multinational conglomerate siemens says it's going to slash some six thousand nine hundred jobs worldwide as part of a major restructuring effort in germany some two thousand six hundred of those jobs are in its fossil energy and power units which make gas turbines for power plants like that behind me but demand has collapsed with major changes in the energy market worldwide siemens forecast global demand for only one hundred new turbines next year and that's across all manufacturers alone has capacity to make one hundred thirty turbines far more than the market can bear capacity among all of the world's turbine makers together is four hundred units a year the story alone suggests why siemens needs to make big changes its turbine subsidiary is one of the biggest in the company last year before orders dropped off sharply turbines were a key profit center the cutb

to my loan is standing by at the frankfurt stock exchange should know how to invest us feel about siemens drastic measures. well a full day after this news broke the share price is looking very flat indeed and that tells us two things one investors aren't really surprised by these job cuts rumors had been circulating for weeks and the board itself said yesterday that this decision was years in the making and they're also familiar with chief executive joe kayser is longstanding crusade to streamline the company on the other hand they're clearly not thrilled just the scale of this restructure and the amount of opposition already forming to the plans means that siemens could be stuck in a holding pattern for a few years at least the trade unions of course have a lot of power in germany because they sit on the supervisory boards that wave three major strategic decisions and they're clearly not going to make this easy ok and i do my loan in frankfurt thank you so much. that's your business update. mesmerising mountains. conrad hanka is fascinated by their beauty. for months he retires to his s

mike is from siemens. these are all built in the state of california by siemens corporation. but they also were designed with great input from our own staff. people who have years of mechanics, trouble and problem were in that design. our drivers for their ideas for safety and convenience of our ridership. of course, john halle and his whole operations had great input. and, of course, we get siemens, who is building rail cars for all over the world, but they gave us some priority here when we said we want more of new stuff in san francisco. so, we're getting that. this is the first one that rolls off. ed riskin to you and the commission and the entire staff, thank you. because you are delivering on a promise we made to our ridership. the hundreds and thousands of people that want and do depend on muni, now you'll have cleaner, more reliable. it goes from an average of five years before major maintenance to some 49 years of operations before we with retire these vehicles. that is a huge, huge amount of years to add with these new l.r.v.s. so i'm particularly proud of all the a

the plans that siemens announced a radical worldwide it wants to eliminate six thousand nine hundred jobs nearly half of them in germany with the country's east hardest hit two plants that will shut down completely and a third hangs in the balance. siemens says it's been hit by the switch to cleaner energy sources and that just turbine division can't keep up. it makes the parts a fossil fuel power plants and orders a declining yet siemens is not only investing in plants in other countries it is posting record profits no wonder the employees feel they're being taken for a ride. to top it all off they've been working on these plans for twelve months but employ representatives and the union have not been involved in management says cuts will secure the company's future the point is that the energy market is changing so dramatically and it's a structural change so we need to react if you want to peace also responsible for our business and specially also for competitive business so we can see to our workers into the people that might be affected is that we're going to trying to find actua

was going to be a big one go hurts your talk about a german engineering giant siemens is setting the stage for the country's biggest i.p.o. what twenty years yeah something like that and they chose frankfurt over new york for the listing of its health amir's it's medical business which makes technical equipment for hospitals and doctors like m.r.i. scanners or x. ray machines in the last quarter health in the us was the largest of siemens nine divisions by revenue and it's also the most profitable one as part of the i.p.o. siemens is expected to sell a minority stake of up to twenty five percent the listing of the stock exchange is scheduled to take place in the first half of next year so that's cause i was off a national correspondent here koku was standing by right there and frankly we don't know what's the difference between doing r.p.o. in frankfurt or in new york for example. you have an interesting question garrett and yeah investors are very happy that in the end it is going to be a mine hatten and not manhattan and we are hearing though from inside that it was kind of like a

mattel accuses siemens of breach of contract and promises massive resistance to the plans. so the only news was out today in the energy sector twenty countries and two u.s. states have joined an international alliance to face out coal from power generation before twenty thirty eight the global alliance to power past coal was unveiled on thursday at the top twenty three international climate meeting in the german studio cold is responsible for more than forty percent of global emissions of greenhouse gases c o two the new alliance is committed to facing out coal sharing emissions reduction technology and encouraging the rest of the world to cut coal usage ironically host country germany isn't part of the alliance and time now for a quick check on the markets for that i'm now joined by our financial correspondent in new york at the stock exchange there so fishermans q hi sophie it's good to see you again well we've seen a day with rises in most u.s. markets after several days of consecutive losses what happened there. well different reasons here harvey about one of them is am

furious reaction in germany to the announcement of layoffs and plant closures that engineering giant siemens workers protested on the streets of berlin after hearing the company would slash an unexpected eight hundred seventy jobs in the german capital alone. i've worked for the company for nearly twenty seven years they can't do this to us to say ok it's over they have to offer alternatives or restructuring that. every year they present better results division next profits like you wouldn't believe we can understand why they'd shut us down when we're working to capacity so the mood is pretty grim. the plans that siemens announced a radical worldwide it wants to eliminate six thousand nine hundred jobs half of them in germany with the country's east hardest hit two plants there will shut down completely and a third hangs in the balance. says it's been hit by the switch to cleaner energy sources and that is turbine division can't keep up it makes the parts for fossil fuel power plants and orders a declining. siemens is not only investing in plants in other countries it is posting record profi

that means siemens need to rethink its strategy.e demand drops, turbines made 35% of the humans -- siem en's products. the decision comes at a time when the company is doing well so unions are criticizing management. is agreed? -- is it greed? or a way to get jobs in the future? correspondent: despite billions of euros in profits, the industrial giant is cutting thousands of jobs. around the world, a total of 6900 jobs will be lost. two plants in eastern germany will be shut down completely. others hang in the balance. >> i have been in this company a long time and have never made anything like this. -- seen anything like this. so many people affected. it is a real body blow. correspondent: the power and gas division is worst hit, struggling to catch up with the upsurge in renewable energy. the demand for gas turbines has dropped, and production is no longer economically viable. seeman says it is trying to avoid forced redundancies as much as possible. the engineering workers union accuses siemens of breach of contract and promises

also coming up with thousands of jobs to go angry siemens employees take to the streets in germany. welcome to do business well not twangs not once but twice tesla c.e.o. in on muscat postpone the presentation of his electric big greek drug but last night was finally the night he unveiled his a long awaited vehicle in california designed to challenge the climate of damaging gas guzzlers on highways and he threw in a surprise sports car as well take a look. it was a big show for a big truck. tesla vos iran must joke that this would be the most useful eighteen wheeler ever tweeting it could transform into a robot fight in the ins and even brew coffee and he said it's built for the long haul. now one of the biggest questions we've been asked about. dr trucks is well how far can they go because well it's perhaps a five hundred mile range. that's about eight hundred kilometers the driver sits in the middle no need for different models with steering wheels on the right or left musk promised his electro truck would be cheaper to maintain than today's diesels it's set to hit the road in jus

so hundreds of workers were let go a tesla it'll be thousands with siemens and there's been an angry reaction here in germany to the announcement of job cuts and plant closures at engineering giant siemens the company is highly profitable but it says its turbine division can't keep up it makes the parts for fossil fuel power plants and siemens says it's been hit by the switch to clean energy sources. zimmermann's workers took to the streets as the job cuts were announced. the industrial giant said it would slash two percent of its workforce despite billions in profits a decision met with a shock. i can't understand it at all i just thought they're playing around or it's incorrect information until now you can't close down a factory working at full capacity and especially not out here in germany's east. the company blamed the shift to green sources of energy like solar power for the move. board member lisa davis said the power generation industry is experiencing disruption of unprecedented scope and speed renewables are pushing other forms of power generation under increasing pressure

to retrain workers and to keep them in their jobs they say siemens is short sighted and they're ready for a fight. it's one of the many consequences of the fight against climate change interest in the subject i'm not going to hand you back to sarah thank you so much javier and in fact we're going now to the u.n. sponsored talks on climate change they have entered their final hours and the german city of bonn delegates from nearly two hundred countries have spent the last two weeks working on an action plan to cut c o two emissions in line with the paris accord which aims to limit global warming to below two degrees celsius by the end of the century now activists say that progress is desperately needed. walter edwin has witnessed the effects of climate change himself the beekeeper from st lucie has come to the climate talks in bonn to tell his story three years ago the hurricane destroyed the flowers that his piece depended on insurance payouts help to recover and now he's a climate activist. by far than that it's a wonderful femur because as we see claim it in the years that we need s

siemens europe's largest industrial complement chose frankfurt over new york for the listing of health than is its medical business which sells cheap machines like m.r.i. scanners or x. ray machines to hospitals and doctors the last quarter health in is was the largest of siemens nine divisions by revenue and it's also the most profitable one part of the i.p.o. siemens is expected to sell a minority stake of up to twenty five percent the listing of the stock exchange is scheduled to take place in the first half of next year. now it's also to our financial correspondent daniel copeland standing by at the frankfurt stock exchange i don't i was difference between issuing shares in frankfurt on new york. what i can tell you first get heard that investors here at the frankfurt stock are sent out already calling this the i.p.o. off two thousand and eighteen and i was listening to what was actually a stating why they really were in favor at the end for the i.p.o. lounge here in frankfurt and they were really stating that with breck's it now frankfurt as the capital already here in germany of

later this month siemens decides on up to six thousand job cuts in the division. germany's economy is on a long term role that's the conclusion of the government's economic advisory panel the so-called five stages in their annual report they forecast two percent g.d.p. growth this year and a slight increase to two point two percent next that promises a continuing tax bonanza the five say just say the government should use the extra cash to fund more education research and infrastructure improvement. the european commission wants the block's car makers to cut their fleets greenhouse gas emissions by a further thirty percent by twenty thirty in brussels this week a proposed drastic fines for companies which don't manage to throttle their emissions and during the same time frame the commission wants thirty percent of new registrations to be electric or alternative drive cars to encourage that it's putting up eight hundred million euros to expand car charging stations throughout europe. american companies signed contracts worth a total of some two hundred fifty billio

siemens workers have taken to the streets of berlin to protest plans to slash thousands of jobs years of the cuts came shortly after the company posted a record profit that's sparked fury among staff members who accuse the engineering giant of failing to live up to its responsibility. they're determined to let their voices be heard siemens workers turned out in droves to protest plans to cut almost seven thousand jobs and closed two factories in eastern germany. that the student recession asian mood is very know there's a lot of uncertainty and insecurity this is about livelihoods and families consider that the plant life is he's going to be shut down completely and where there's very little other economic activity people are horrified and scared and gangs. it's an especially bitter pill to swallow just weeks after siemens posted every quarter coffers of over six billion euros. the company says it has to respond to changing market conditions even if overall well it's stable. it is a sign that village seems like a contradiction but posting profit in the areas of growth we have many of

thank you to siemens for just working with the city and being patient with us. thank you to the mayor for his leadership on transportation issues. thank you to phil ting for always bringing home the bacon. we have got to do a better job in improving our transportation system and today we demonstrate that this is a start. we're not done. we'll keep moving muni forward. thank you so much for being here today. [applause] >> thank you, president breed. it is great to have that passion leading our board of supervise source and supporting transit in san francisco. so i had mentioned, as did the mayor and the assembly member and the president that the growth in san francisco is part of what we need to accommodate on sustainable modes in the highest capacity sustainable mode of transportation we have in san francisco is our light rail system. and so one of the first impetuses for this rail car expansion, and then eventual replacement, was the central subway project that the mayor mentioned. an expansion of light rail service from visitation valley up through bayview, do

siemens is a setting the stage for germany's biggest i.p.o. in over twenty years europe's largest industrial conglomerate has chosen to nest health and nears its medical business in frankfurt over new york it doesn't want to get involved with u.s. regulation and believes that frankfurt exchange there will grow as a result of bragg's it the health it is the largest of siemens divisions by revenue and is also the most profitable it sells machines to hospitals and practices as part of the initial public offering zeman is expected to sell a minority stake of up to a quarter the listing of the stock exchanges scheduled to take place in the first half of twenty eighteen. still producing nations have agreed to dismantle market distorting subsidies g twenty minutes has met him but in on thursday to avert a trade. overcapacity that's been causing international tension but the divisions still remain. expectations were low from the outset the interests of the participating countries were just too varied the goal of the summit was to put the brakes on ste

siemens gamesha's shares falling the most since july. workforce by one quarter, the turbine maker planning to only 6000 jobs. it is about 23% of its staff. it expects sales to slump in the current fiscal year. of -- lego the score is 80 moller-maersk after a cyber attack. cost it the june attack more then its estimates. mainly because it is maersk's line unit. shares 6% lower today. vonnie: thanks. now back to capitol hill. continue its markup

[applause] and has worked with siemens to solve countless technical problems. it is not easy to design a complex vehicle and drop it in our system. but we were able to identify and address any concerns and issues. doug lee, are you somewhere? and this was a group, and finally on the kind of full-time dedicated team, i want to acknowledge manny enriques. [applause] manny is somewhere here. for the last nine mo*fnzes he has been out overnight, virtually every night five, six, sometimes seven nights a week to help us hit this deadline. and he's probably inside because i realize at this point he is no longer used to sunlight. so -- [laughter] i'm sure he is glad that we will be getting these trains in service. but congratulations to all of them. and finally i do want to recognize some of the other people who contributed a lot of their time while they continued to do their daily responsibilities. scott broder. i see lisa wallton from i.t. who's worked with us in resolving system problems. terry fahey with the track crew. part of what was done was constant adjustment

much of that was disappointing, if i look at the likes of siemens, adidas. let's show you the heat map and show you how we're faring. the stoxx 600 is off by 0.1% after we fell by 0.1% in yesterday's trading session. so the moves we're seeing on the stoxx 600 are not huge, but we're seeing much, much greater moves coming from the individual corporates want to show you the european markets one by one we're seeing the xetra dax holding on to the flat line. the ftse 100 is off by 0.1%. ftse mib is outperforming up by a quarter of a percent as the banks are recovering as some doubts and worries again yesterday about the mpls in that sector speaking of sectors, let's look at what we're doing in terms of the sector bases in europe basic resources underperforming, off by 1.3%. retail lower to the tune of 0.9% household goods, which includes names like burberry, that sector is off by 0.6% banks doing better, up by a half of a percent >>> let's get back to our top story. shares in burberry are trading nearly 10% lower, 10.3 to be precise, hof vering near the bottom o

a controversial restructuring plan a german engineering giant siemens will cut down. thousands of jobs union representative say they're not going without a fight. and will take a look at israel's thriving startup scene and why it has become very interesting for german carmakers. it's time for business on the w and for you to get us welcome to the program germany's zeman is officially announced that it will cut almost seven thousand jobs worldwide it's part of a far reaching restructuring program to reduce not profitable divisions however the company as a whole is actually doing pretty well right now so the unions are heavily criticizing management is it pure greed or a way to secure the remaining jobs for the future. the wide ranging cuts seaman's workers of long feared bitter reality despite billions of euros profits the industrial giant is cutting thousands of jobs and closing plants. around the world a total of six thousand nine hundred jobs will be lost three thousand three hundred will go in germany two plants in eastern germany will be shut down completely other

the union which represents siemens workers say they will fight for every job i spoke spoke to the berlin boss of the union earlier and he told me that joe kayser the c.e.o. is cutting up the company for the benefit of shareholders and ignoring his duty of care to workers now most of those seven thousand jobs are going will be here in berlin and they say that they were promised in the past that their jobs were safe and that the c.e.o. is trampling on that ten year agreement they say how can a company with over six billion euros in profits over the past year be forced to cut so many jobs siemens is europe's biggest conglomerate with over three hundred seventy thousand workers worldwide so for them this seven thousand cuts is really just a drop in the ocean we're seeing those protests in germany i do have to wonder whether we can expect to see similar scenes in other conglomerates because siemens certainly isn't the only one undergoing an overhaul right now. that's right helena also another industry dinosaur general electric has been forced to cut jobs and to go under a massive restructurin

mattel accuses siemens of breach of contract and promises massive resistance to the plans. it's not the only news we saw in the energy sector today twenty countries and two u.s. states have joined an international alliance to face out coal from power generation before twenty thirty the so-called global alliance to power past coal was unveiled on thursday at the cup twenty three international climate meeting in the german city of plant coal is responsible for more than forty percent of global emissions of greenhouse gases go to new alliances committed to facing out coal sharing emissions reduction technology and encouraging the rest of the world's to cut cold usage ironically host country germany isn't part of the alliance. and more than a million people have fled from south sudan to uganda the german aid organization ventolin here first provides development help in the form of sustainable farming and vocational training for many of the refugees in the northern part of the country but resources from the german government might soon go elsewhere. as berlin is setting new prio

siemens workers have taken to the streets of berlin to protest plans to slash thousands of jobs news of the cuts came shortly after the company posted a record profit that sparked fury among staff members who accuse the engineering giant of failing to live up to its responsibilities. they are determined to let their voices be heard siemens workers turned out in droves to protest plans to cut almost seven thousand jobs and closed two factories in eastern germany. very. very no there's a lot of uncertainty and insecurity this is about livelihoods and families consider that the plant life he's going to be shut down completely under where there's very little other economic activity people are horrified and scared. it's an especially bitter pill to swallow just weeks after seaman posted every quarter profits of over six billion euros. the company says it has to respond to changing market conditions he. overall well it's stable. condition and i mean it seems like a contradiction but posting profit in the areas of growth we have many of those but in areas where the market is being we've str

industrial giant siemens reported an impressive eleven percent rise in a neural net profit to six billion euros but it could have been even better if its power division hadn't waited so heavily on the bottom line this year. fourth quarter profits of the ailing power and gas unit the company's second biggest after health care plunged forty percent later this month siemens decides on up to six thousand job cuts in the division. germany's economy is on a long term role that's the conclusion of the government's economic advisory panel the so-called five stages in their annual report they forecast two percent g.d.p. growth this year and a slight increase to two point two percent next that promises a continuing tax bonanza the five say just say the government should use the extra cash to fund more education research and infrastructure improvement. the european commission wants the block's car makers to cut their fleets greenhouse gas emissions by a further thirty percent by twenty thirty in brussels this week and propose drastic fines for companies which don't manage to throttle their emissions

ray machines to hospitals and doctors from the last quarter health than is was the largest of siemens nine divisions and it's also the most profitable one as part of the i.p.o. siemens is expected to sell a minority take of up to twenty five percent the listing of the stock exchanges that is to take place in the first half of next year. let's cross over to our financial correspondent cope in frankfurt what's the difference between issuing a share in new york. well garrett i mean you have lived here in frankfurt before as well why you need manhattan when you can have mine and here basically that's what investors here are telling me as well we are hearing that it was kind of like a close race between the new york stock exchange and frankfurt but at the end siemens decided for frankfurt because. it's saying that now also with breakfast at frankfurt as a stock exchange is getting more and more important and also very interesting for that defense similar companies like healthy new years are also being traded here on the trading floor such as xen years and such as medical care as well the s