of siemens had to say in an interview today w. when our colleague kate ferguson asked him about this terrible. was it a terrible burden or absolutely it was a terrible murder but we didn't hold a country of thirty four million people mostly young people hostage for maybe maybe a murder you know which could even be political influence no you don't because you know there is a process to go after murder and hopefully find out and you know get a conviction but in the process you know i think everybody deserves the right to follow the process but it needs to be followed so we have to almost three thousand people working for siemens in the kingdom so what they may tell them you know not doing business anymore abandon those two thousand people just because there was a terrible murder in turkey so it's not that simple it's not that black and white. right a very interesting take there from joe k.'s of the seamen c.e.o. but back to saudi aramco specifically just explain to our viewers why such a profitable company the world's most profitabl

with any disruption resulting from a brics it and the chief executive of industrial manufacturers siemens u.k. is imploring british lawmakers to unite around a compromise breck's a deal saying that the country's political chaos is making the u.k. a locking stock now which ever way you put it industry leaders here ah busy adding ob the cost of a west case scenario. a hard meaning a no deal brax it would take the e.u. into uncharted waters and hurt companies in the blocks biggest economy germany that's the forecast from the country's main industry federation the b d i it's a pity that the britons decided to leave but it's it's a fact we just do not have to comment so we have to take it so what we call for now is let us hope for an orderly break that. not give so much harm to the economy on both sides of the channel if it comes to a cliff edge scenario that would really be horrible what do the numbers say according to the b d i a hard bracks it would reduce german economic growth to just zero point seven percent for this year instead of its current prediction of one point two percent and it

despite a recent positive update from muni, 68 new siemens light rail cars are in service. tonight we have pictures of some of the new cars chained together. workers should be able to couple the cars with existing equipment to run two-car trains but some of the new cars are not connecting properly. muni says on friday, one of those connections failed when a pin snapped, stranding one of the cars on theth trouble comes week after muni told the transportation authority the trains were operating as expected. and it tentatively approved $62 million to expedite the purchase of additional siemens cars. >> it's pretty troubling, after you spend millions of

you, are you surprised by the siemens statement?out the path that the brexit negotiations have taken, about the lack of certainty, about how dragged out that uncertainty has become. people talking about the possibility of some kind of customs union, just narrowly defeated as an option in the house of commons last night. with that kind of option meet a lot of those concerns, or its actual closeness to a bigger closeness to the single market actually required by business? certainly, some businesses have called for a very close relationship with europe, almost mimicking the current arrangements with the uk being in the eu. other businesses have not gone as far and have just called for increased clarity. i think where we are now, the greatest chances are that we are still going to see some version of the prime minister‘s deal with probably some add—ons and amendments and certainly all of the votes have only been indicative, but they serve as guidance in terms of what direction those amendments might go. when we look at the prospects for

sixty years so we have very well established we have about forty thousand people directly working for siemens about one hundred thousand indirectly so it's quite a new potent hope this leads of a second because contrary to the united states and think of the germany so you can see the order that here so we have it established brought a lot of technology to the contrary have also been not benefiting a lot from doing that so we have a very good window when partnership which we could establish because you could localize because you could transfer technology as a global multinational company so that is not always possible for small or medium enterprises which can just build another factory in china so they depend to present their goods and services into the market from germany or from europe and is actually requires that china opens up more than it has already been opening up they have to know a lot in the last forty years of opening up but they need to be. let's say more open to technology also being imported because they also export the lot and that's i think so it's something we need to encoura

even though siemens once he says we as the twenty seven even member states will stand together and we want to do everything possible up to the last hour to avoid a disorderly exit by britain's. merkel supports an orderly backset something may won't get to hear in paris french president in manama has voiced concerns about another extension of the breck said negotiations. the union cannot be held hostage to the resolution of the political crisis in the united kingdom on a long term basis and britain there is little hope that terrorism a can resolve the brics edition despite her charm offensive around europe's capitals. the story of a woman who was seven months pregnant when she was kidnapped by radical islamists and imprisoned janina finned a german journalist went to syria to film a friend who'd become a just harvest in doing so she took risks she now regrets. child was born in captivity. not a day goes by without janina finda eyes and thinking about the kidnapping three hundred fifty one days that changed her life it all started in a split second demo meant. when the taxi was stopped

despite a recent positive update from muni, 68 new siemens light rail cars are in service. tonight we have pictures of some of the new cars chained together. workers should be able to couple the cars with existing equipment to run two-car trains but some of the new cars are not connecting properly. muni says on friday, one of those connections failed when a pin snapped, stranding one of the cars on theth trouble comes week after muni told the transportation authority the trains were operating as expected. and it tentatively approved $62 million to expedite the purchase of additional siemens cars. >> it's pretty troubling, after you spend millions of dollars on the first round of these acquisitions, to find out that some of this is not working as designed. >> reporter: supervisor peskin says an inspection has revealed at least one more faulty coupler. the cars are being run as single trains while the problem is being investigated. he says old trains are being used to prevent a service impact on riders. there are some other issues. he says he knows of one incident of a new ca

military regime faded away in the light of a major project that egypt granted to the german company siemens a gigantic investment to build the largest gas fired power plant in the world i'd seen steve become how to down a demon zone for mark milley garden. is only for nicky demon's own office humans that were stuffed and example. to the type. of market you would important to have had to collide lawson found in p. keep. it in the s. to give you the president morsi start so again insightful for added some two to four were tied does this endorsement and you need to feel what an area democracy of italy and it was that not enough that even a little bit was a terrible idea where. it was a lot just to use pulled the president. puts up the shaft heart. you one last. east. was not the comment that sitting on. the berlin press conference with the two leaders two can ironic to . a protest by an egyptian medical student was drowned out by as he sees all too chanting. it is a great honor to have with us today presidential c.c.v. with donald trump's presidency l.c.c. look forward to friendly relations in

study at athens technical university professor an engineer was determined to see his model go into siemens production but established car makers weren't interested . it's really annoying for scientists when good concepts they've developed over a long period just disappear into a bottom drawer so we said not with us i was getting all of that i thought come on you can tell this i wanted a mini porsche or a porsche killer so to speak when anyone can afford. the ego might indeed an oil luxury sports car makers because it can be had for as little as sixteen thousand euros sixty eight thousand less than comparable models because she didn't just build it from scratch he also set up a tailor made production line one big advantage electric cars work with far fewer components than traditional field driven models. where a combustion engine production line and the entire building or be too small. fewer parts equals fewer potential problems as well as low investment costs for components automation and assembly. working within the car industry's traditional structures are serious that churns out fewer t

yeah that's right and today we just heard from the chief executive of the industrial manufacturer siemens a german company he's a chief executive in the u.k. and he said all the political chaos in the u.k. is making the u.k. a lot of things stock we also know that b.m.w. mini in the u.k. has closed print stopped production for four weeks it is time that six months ago because the u.k. was supposed to be leaving the e.u. last friday and that hasn't happened so that's difficult for them we've also heard from the german industry federation the beady eye who are warning that actually a no deal breaker so no deal or two with the e.u. could harm germany it could cut it could hit job so very real concerns here and i think most of you can see i'm going to matt merkel the german chancellor play a more a launch a role a more prominent role in this she's going to dublin on thursday to meet with the irish prime minister leo veronica because that seems to be a big fear that perhaps island is not prepared enough for a no deal what would that mean for holland border between island and northern ireland a

even though siemens once he says we as the twenty seven even member states will stand together and we want to do everything possible up to the last hours to avoid a disorderly exit by britain's. merkel supports an orderly back set something may won't get a hit in paris french president in modern america has voiced concerns about another extension of the breck said negotiations. the unit be held hostage to the resolution of the political crisis in the united kingdom on a long term basis and britain there is little hope that a reason make unresolved the brics edition despite her charm offensive around europe's capitals. british prime minister of tourism is lobbying european leaders most of the public back home are desperate for some sort of resolution on their country's withdrawal from the e.u. our london correspondent ventured to a diverse neighborhood to gauge the temperament there. mohamed baez is frustrated with brant said ever since the u.k. voted to leave the european union this shopkeeper has been following the news closely hoping for certainty and clarity. but if they decide to

mess and today a parliament and government faced a lot of criticism amongst them from the head of siemens u.k. who said that the government heads that the whole process indeed have turned the country into a lot of things stuck so it seems like the government is pretty much on face by that a government spokes person off to read some may said they understand the uncertainty of businesses and that they are trying very hard to bring forth the deal for a fourth time so as i say government is very and faced by this and rather focused on domestic political infighting at the moment so let's talk a little bit more about what is ahead today in parliament because we have another row another potentially indicative vote coming up what can we expect today. so parliament today is first of all debating a petition that reached over six million signatures that's the highest rate of signatures in british history and that petition is asking basically to revoke fifty so essentially to remain in the european union that doesn't have a lot of chance to go through but they are debating it and then later on they a

what is grabbing attention today is the uk boss of the german engineering company siemens, a very importantto mps yesterday encouraging them to sort something out and has been speaking to the media today, and saying that britain is at risk of trashing it's a fabulous reputation with the rest of europe. now, they are german however they employ 13,000 people here, have sales of £5 billion, invested a lot, and he says if he took a big investment project to berlin for approval, it would simply be rejected as things stand. we are wrecking our reputation as an economic powerhouse, he says. if a solution is found, then the investment is returned. so it adds to the picture of stalemate in parliament and near standstill in the economy. the confederation of british industry is saying that it's desperately disappointed by what happened last night, small businesses saying similar things, and both worried about the renewed possibility of no deal. the pound, though, a little bit of reassurance there. it has fallen half a cent against the dollar down to 1.35, but stands above its level of earlier this yea

the chief executive of siemens uk has urged to...t one million, amid a climate of falling newspaper sales and a slump in print advertising revenues. the paper says it has reached this milestone a year ahead of schedule and operating profits and revenues both grew last year. the firm says it proves that quality journalism can be a quality, growth business, with subscriber numbers rising. shares in european car—makers are rising this morning after reports that psa group — that makes peugeot, citroen, 0pel and vauxhall cars and fiat chrysler could form a partnership to build cars in europe. reports say the companies are holding discussions to collaborate. daimler shares are up 3.79% while volkswagen is up 2.98%. and from today it won't cost a penny to spend a penny. commuters at some of the uk's busiest train stations, from today, will be able to use the station toilets for free. network rail generated about £5 million per year from 16—million users who used its loos every year, but network rail has now scrapped the charge. let's have a

vonnie: i know siemens is one of the stocks you are recommending. cheap value stocks. where do we find cheap value stocks? jonathan: what is interesting is we have this polarization around the world. polarization and politics. left and right. polarization between asset classes. in europe, eight classes where the dividend yields is 300 basis points above the sovereigns of 10 year bond yields. these are gaps which we have not seen and 100 years in many cases. within the market, we have these aggressive value gaps between some high-quality quality, low quality, risk, high risk, low risk, however you want to cut it. these gaps are at levels where historically in the last 25 years investors should do what feels very and comfortable, which is to buy low quality, buy stocks.y cheap we are back to valuation levels within the market in the last 20 years where investors have to hold their nose and by low-quality stocks. -- buy low quality stocks. vonnie: i'm curious as to your thoughts on the brexit process, where we go from here, and whether the u.k. market is investable at the

wherever they go siemens leave trash. in space it poses a hazard new have to start a new clean up the danger is clear. cut. tomorrow today ninety minutes on the. last minute puzzle yourself it's not. he's going to go to another country you know nothing about and i'm going to give up because we can't stay on venezuela i know. that i clumsily global news that matters. made for martin's. fifty w. news live from berlin the e.u. and floats their ideas for rival bret's at extensions news donald tusk is said to be proposing a flexible twelve month delay for the u.k. to leave the dog for even may once in june thirtieth deadline will be weighing up the possibilities with the london and brussels.

with saudi arabia that they've had contracts that had to be canceled there sh snyder electric and siemens we've got a very diversified exposure towards industrial. an aggregate they're too cheap. we don't think the economic situation is as bad as the consensus view is. >> can we go to the u.s. markets here we have a busy week of earnings. the busiest week of earnings season for the s&p 500 as things are shaping up now, does it seem like the u.s. is still the best place for capital to flow to from the global standpoint >> i don't think so. if you look at the u.s., it's very expensive on every measure except for earnings. earnings looking about fair value, but on ebida price to book value, price to sales, it's at 95th to 96% on all those measures i just mentioned versus its 20-year history. u.s. is expensive. it's got the economy that's delivering the best. companies are beating expectations, but in december 31st, the consensus was 9%, 10% growth are for the s&p 500 now we're looking at no growth the companies are beating a low bar. we think that's reasonably encouraging, but we wouldn't be

public's awareness, that a majority of the cac favored the double transverse seat configuration in the siemensstreet cars. we sent a letter to the board expressing that majority preference. number 3, we have here the sfmta cac recommends that the sfmta adopt the revised delegation policy as presented to the cac, provided that a list of approved contracts, purchases and contract modifications approved by the director of transportation, be included on the sfmta board meeting agenda as part of the director's report. so this was a policy change which sounded sensible enough to us, which allows for the director of transportation to approve contracts up to a threshold of $1 million where previously it had been $500 thousand. and some other related changes to that. we did include the proviso about the approved contracts be included in the agendas for this meeting. final thing, i would like to say, speaking more as an individual and less on behalf of the cac, about an item you have coming up on the agenda today. the idea getting people to prioritize transit to access the new warriors arena, i think is

of the mergercase siemens, they -- said they are naive., at the very least, controlled. manfred: my party is the party of trade. always the party of trade. the socialists not so much. forelieve in should it is both sides. europe should not be naive of what is going on in china they defined key industries where they want to be global champions. and europe must allow our companies to grow and to establish a size which gives you the chance to compete on a global level with the big companies. that is why i think we need to change the competition law. generally, i am a friend of competition because it brings good prices and quality of products. and in special markets, we need to understand that competition legislation must adapt to the global level. >> so you would agree with relaxing some of the rules comes to antitrust and competition and keep those standards? manfred: it must be in the european interest, that is clear. inside of the eu, i love and joy competition, it is good for us. but on the global stage, europe must define our key industr

i just had to tell the president that siemens added 75,000 more jobs to our work force development programiently timed. it spins out of a brand she's worked meticulously at her whole life when you're somebody who runs a lifestyle brand you are always trying to perfect the facade or the look of a carefree easy life even when that's not the case >> two more things, one is a statement from matt bevins, governor of kentucky. ivanka trump seems criticized no matter what. the kentucky governor worked with her on work force development said ivanka could save an elderly woman from being hit by a train and people would blame her for disrupting the travel time. there are those who defend her. very quickly, the last story, you were in her office speaking off the record and you noticed a book about burning man. i'm told reliably burning man is where you go to smoke pot, acid, listen to music >> according to me. >> that's what alisyn says. what was the significance of that book in her office? >> i was in her office looking around, trying to take in as many notes as i can mentally about what this space

the train manufacturer, siemens, says the problem is how the drivers ausing the breaks. the designated stick brakes have anti-lock technology that prevent the damage to the wheels in emergencies. the mushroom emergency break should only be used as a last resort. >> something you use, the mushroom button, to change the way that is applied. obviously, all considerations would take a safety first approach. >> reporter: supervisors want this all figured out before they fork over another $63 million for more of these new trains. >>> well, if you are outside today you know it feels like summer. now is the time to where it could be another catastrophic wildfire season. governor newsom talking about cutting a 14-mile-long fire break that would begin at tilden regional park in berkeley and zigzag to lafayette. it's one of 35 going into vulnerable areas across the state. crews will remove dead trees and clear underbrush. part of a multi-million dollar effort to prepare the state for another devastating wildfire season. >> contra costa county, alameda county, you are as vulnerable

military regime faded away in the light of a major project that egypt granted to the german company siemens a gigantic investment to build the largest gas fired power plant in the world i'd seen steve become how to down a demon zone for mark milley garden. is only for your demons own office image that was the often example. sort of a type. of marker you would important to have had to collide lost and found in piggy puts asking deniece to give you the president morsi start so again inside police were added some two to four were tied endorsement and you need to feel what an a a democracy of a duly. it was that not enough that even a little bit was a terrible idea where. it was allowed us to use an inside pool the president. puts up the shaft hot. funk. zero one nasty political out the east. was not the comment that sitting on. the berlin press conference with the two leaders took an ironic turn. a protest by an egyptian medical student was drowned out by as he sees all to chanting. it is a great honor to have with us today presidential c.c.v. with donald trump's presidency l.c.c. look forward

instead say, yeah, i'm going to go over to europe just because they have low interest rates so if siemens or somebody needs to borrow, they can borrow at a much lower rate than they can borrow at here, i get it, but i don't get it as far as why i would want my money there in that trade versus sticking with the momentum here. >> right but what if mike wilson is correct in that expectations are going to continue to come down for the second and third quarters, they just haven't done that now nobody wants to do that right now when stocks are hitting these new record highs pete >> i think people just have to be disciplined i'll give you a great example of what i mean when i say you got to be disciplined, scott last week i sat on the desk and i said i got 74 positions on presently. i got 14 positions on in oil, 15 in tech. and that has already come down i've already termed 20% of that. so i'm just taking advantage of what i see as the opportunity so have i lightened up, yes, was it because i think the big macro picture, no. the theme continues to be the exact same thing it's been since the star

partnering with eight players like -- with the big players like microsoft, but also companies like siemense builders. i think were going to be able to serve our customers better through partnering and creating these ecosystems that bring together the best capabilities but also allow the customers of freedom of choice so they don't have the challenge of a lock in. our tagline is, freedom is a service. we believe customers deserve the opportunity to not get locked in as the business environment is changing so rapidly. paul: all right, sanjay brahmawar, thank you so much for joining us on "daybreak: asia." we have some breaking news right now from samsung, samsung to retrieve all galaxy folds that have been shipped to the u.s. and europe, so breaking news for you on the troubled launch of the galaxy fold. retrieve those phones that were shipped to the u.s. and europe. let's check on the business flash headlines. we start with samsung, no we don't. the financial times says barclays is planning to cut investment bigger bonuses. the paper says rewards for the first quarter may be cut by double d

and one of the latest examples of that is the decision by the ,ommission on siemens which commands you know, did not go t down so well. that is how we go about our rules. it is true that in the digital field, this very much becomes a matter of american companies, but that is because you have and so successful, because all the big i.t. and digital companies are american. therefore, i can understand the perception of going after american companies. but it is about moving into recollecting something for which the rules we already have are not particularly apt because of the digital picture which is very different. about security, i suppose you will refer to 5g and the question of huawei, on this, the european council in march commission, was just about to come up with a competition on this. again, this is complex because the union cannot ban a particular company or define national security for member states, that is the competence of the member states. but the e.u. i think is doing the maximum it can come up with the complication that came out as a response to this line also in the conclu

tom: a gentleman from siemens wrote a story about the need to get this fixed for eu and u.k.siness to get a solution? david: it is massive. the big impact on brexit uncertainty, nothing has changed fundamentally. what is bearing down on the economy is uncertainty and it has probably stripped about eight percentage points of growth since the referendum was announced. the u.k. economy looks like it has lost around 2% or 2.5% of gdp and most of that is on business investment. we need that relief. if we saw theresa may's deal pass through and you saw the u.k. enter an orderly transition exit, then we expect to see an uptick in business, something that spurs the bank of england. it is a huge if and it certainly does not look like the most likely outcome. if you see protracted uncertainty as we go through perhaps a 12 month extension or longer in the u.k. continues to bubble along with complete uncertainty. anna: you wonder at what point do they try to start and make decisions any way out of the limbo. the survey saying u.k. firms are the least likely to invest in eight years as br

tom: does siemens have a public duty in german -- germany to be more verbal and aggressive in americaelves more into the american conversation? .oachim: i do not think so ceo's have a duty to their shareholders. that is the division of power in the market economy. francine: preparation, not prediction, jamie dimon saying they are prepared for but not predicting a recession and they prefer to use capital to grow rather than by back -- buy bac k. are they prepared to deal with such a crisis as we saw in the lehman area -- era? roger: i do not think a recession in the states is likely, but it is a danger. the problem is always the bits you do not know about. i am sure we will not see exactly the same thing as before. the euro zone scares me. i think the fed has got a fair amount of ammunition. it is the ecb and european question that is deeply worrying with the deposit rate negative and germany opposed to further qe. what on earth does the ecb do? tom: in his letter, he talks about something in the news, front and center in london, the future of asset management. i think you can comment

mass polarization over what no deal means -- the end of the world as we know it, the leadership of siemensrope multinationals, and other people saying it is nine months -- what is it going to be? >> it is closer to the latter than the former. no deal will be massively disruptive. it is possible that medicines won't arrive in that people will die. can't exclude that. the long-term economics, hard to say. suggest settling economic projections. it is an outcome to be avoided. outcome,a desirable and when i say it is likely it's not because anybody wants it, although there are some people who do, but it's because the options of the u.k. anti-e.u. might have no alternatives, and people misjudge each other, and that has been a prominent feature. there was the separation of the elites in germany, all the while there was reunification. what is the separation right now in the united kingdom of the elite and the people? this and i don't follow that narrative. it's a divided country. 52-48, pollsm was are pretty much the same. country is divided into those who want to be in the u.n. and those who do

this morning, the ceo of siemens uk, jurgen maier, told radio 4's today programme that brexit negotiationsany at a point of crisis when it comes to investing in the uk. he warned it has taken 45 years to make britain a trusted, reliable trading partner. adding "we are at the risk of trashing that fabulous relationship and urging politicans to find a way forward". let's go straight to downing street and our assistant political editor norman smith. they have got ours to talk it out, norman. what is likely to happen? we hope there is certainly in government they manage to reach some sort of consensus despite the clear divisions within the cabinet because the view in number ten is the only have until friday now to really push through some sort of brexit deal. after which, they are pretty much out of time to ask for a delay. the default position will pick n which means we will be leaving without any agreement. somehow they have got to thrash out an agreement this morning. the options are pretty straightforward. going with no deal. some in the cabinet i relaxed about that. we heard liz truss say