bid to launch a new energy company with plans for siemens energy to go public later in the year

the on in berlin siemens chief executive joe k.'s are faced angry. environmentalists at the group's annual shareholder meeting today the industrial giant has faced heavy backlash from its infrastructure deal for railway links all coal mining project in australia at a time where the bushfires raging across the country are making global headlines. as demonstrators joined hands 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 had to deal with the environmental issues he told media it was grotesque the project in australia had made siemens a target of environmental protests that doesn't change the fact that the signal equipment we delivered ensure a safe rail transport and is irrelevant to the overall operating of the controversial mine is his. kayser is in his last year at the helm and is attempting a major restructuring of siemens wh

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 the company also saw a weaker than expected 1st quarter profits in its flagship digital industries business. let's go over now to stephen beardsley he's a siemens headquarters it munich see if it doesn't sound like those protesters are getting french. not so much been that australian c

grotesque the project in australia had made siemens a target of environmental protests. that doesn't change the fact that the signal equipment we delivered ensure a safe rail transport and is irrelevant to the overall operating of the controversial mine. 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 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 the company also saw a weaker than expected 1st quarter profit in its flagship digital industry's business. and speaking of protests has temporarily shut down its london headquarters after greenpeace climate activists block the entrance to the building on chief executive bernard looneys 1st day in office greenpeace demand that the oil giant and its commitment to fossil fuels bega

the german engineering group siemens has come under fire from environmental activists because of its involvement in a big new opencast coal mine in australia siemens is supplying signalling for a railway that's being built to take coal from the mine to the docks for export the activists pick it at the company's annual shareholders meeting in munich to demand that it stop selling to fossil fuel companies. as demonstrators joined hands 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 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 his. kayser is in his last year at the helm and is attempting a major r

we are holding siemens to a high standard of performance. the graph in front of usagraph that takes two things. it takes the number of breakdowns that we have that are mechanical and they are responsible. it divides by the mile in the system. it gives us how frequently the vehicles are breaking down for mechanical reasons. we did hit a major milestone in january where we saw the number increase from about 10,000 to 17,000 miles between breakdowns. the reason for that. >> can i interrupt you? >> does that include flat wheels? >> it does not. thank you for the clarification. one of the things that i think i had done in previous meetings is equate this number to our greater number where we track mean distance between failures. this is actually a very narrow definition of failures and it is those that are mechanically related and need to be addressed in the vehicles. something like flat wheels, something like the operator locking up a circuit board by pushing a series of buttons inappropriately wouldn't be something we would hold siemens account

a tough year ahead for siemens.he german industrial giant says a market slump that caused it to miss analyst estimates is set to continue. we are live outside of siemens headquarters in munich. and meanwhile, the tesla shorts are getting absolutely destroyed day after day. one hedge funds loads up on credit and default swaps. we speak with the cio. but up next, we speak to ken gold at kappa after they report earnings for the full year. this is bloomberg. ♪ matt: welcome back, this is the european open. 47 minutes away from the start of cash trading. let's get your stocks to watch. annmarie hordern is looking at novo nordisk, tom is covering adidas, and dani burger is focusing on bnp paribas. annmarie: the biggest maker of diabetes drugs is projecting growth, saying it will go at a constant pace of 1-5%. that is modest growth and has helped, but the pressure will continue for 2020. these drugs come with a lot of pricing pressure, especially with the u.s.. with the elections ongoing, that will be a hot topic. tell us

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 moved out of this contract it would have cost us big time that would not have been good for the company climate activists have shown little understanding for that their message here today i spoke with one of the head climate activists marshall she's going to speak at the gathering she said her message is take responsibility and do it now the challenge of course is that responsibility is seen differently from siemens they believe they have a responsibility to their employees and to their shareholders so there is this conflict here of the urgency of now versus what surely takes a long time for a massive company such as the 385000 employees they say look we can't do it overnight climate activists say you need to ok there's a lot of discussion of course in business circles about shareholder va

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 flagship digital industry's business. let's get a quick check of some other news climate protestors briefly forced the closure of b.p.'s london headquarters wednesday morning activists placed mock solar panels ou

different compared to what would have happened if siemens trains and i'll some trains would have been allowed to merge putting 2 similar businesses together usually includes job cuts what can we expect here. well job cuts especially in burlington where. transportation has it's international had headquarters and germany has its german headquarters so of course there are synergies there on the level of you know the headquarters in terms of the production lines it has to be said well barges factories here in germany have seen an enormous amount of job cuts in recent years already experts are very hesitant to predict that more job cuts in germany would really make sense and easy but this is really difficult to evaluate because the train business speak comes a little bit more like the aircraft business buyers of trains often governments not only want to buy trains very often they also want to see the jobs in their countries so this is something that of course all the train makers have to deal with contribution in frankfurt thank you. and now to some of the other business stories making hea

but also had a bad experience last year when his merger with siemens was blocked by the e.u. who's to say that it's not going to happen this time it could happen again i mean there's no. concrete reason why it couldn't i mean let's just look at the union members of a game it is a german union now they. represent workers at. bonn which is a big customer of both on body a and of alstom as well and you know it's interesting to see that they think that this could be a threat as well this fused thing meaning that the bargaining aspects that the bargaining benefits have would be reduced and so it also seems that you know due to report from reuters they are quoting a source in the french government which has seen that this time around that the e.u. may be a bit lighter on this but in the end it comes down to this all important divestment so it depends whilst i'm is really willing to get rid of and that could be the decisive factor oh see how this progresses over the coming days in the coming months thanks for bringing us your insights you went. now mark zuckerberg has been attemptin

we are holding siemens to a high standard of performance. the graph in front of usagraph that takes two things. it takes the number of breakdowns that we have that are mechanical and they are responsible. it divides by the mile in the system. it gives us how frequently the vehicles are breaking down for mechanical reasons. we did hit a major milestone in january where we saw the number increase from about 10,000 to 17,000 miles between breakdowns. the reason for that. >> can i interrupt you? >> does that include flat wheels? >> it does not. thank you for the clarification. one of the things that i think i had done in previous meetings is equate this number to our greater number where we track mean distance between failures. this is actually a very narrow definition of failures and it is those that are mechanically related and need to be addressed in the vehicles. something like flat wheels, something like the operator locking up a circuit board by pushing a series of buttons inappropriately wouldn't be something we would hold siemens account

starting with siemens who says it is comfortable with the forecast despite the risk it possesses. moving on to abb saying they will likely see an impact given the significant presence in china which can is their second largest market worldwide disney has warned it will take $175 million hit after being forced to shut down the parks in hong kong and shanghai ford says it is too early to tell what the implications will be but the company is keeping a close eye on its supply chain. and nike says the epidemic will have a, quote, material impact on its china operations as it closed half of its stores in the country. various companies coming out with announcements of how this is impacting their business and supply chains as well. >> a few more. french motor way and airline operator vinci says it is impossible to quantify the impact of the coronavirus on air traffic. the ceo of international airlines group believes the impact on global air travel demand will be marginal. american and united will suspend flights to hong kong following the first related virus death in the territory. in jap

starting with siemens who says it is comfortable with the forecast despite the risk it possesses. moving on to abb saying they will likely see an impact given the significant presence in china which can is their second largest market worldwide disney has warned it will take $175 million hit after being forced to shut down the parks in hong kong and shanghai ford says it is too early to tell what the implications will be but the company is keeping a close eye on its supply chain. and nike says the epidemic will have a, quote, material impact on its china operations as it closed half of its stores in the country. various companies coming out with announcements of how this is impacting their business and

shame on siemens that's the message and buyer mental groups brought with them to protest at the company as companies and you will shareholders meeting they say siemens values contracts over climate protection. to tesla they say no thank you the plan to go.

the headline takeaway, siemens is warning of a tough year after quarterly decline. misses the lowest estimate at 20.4 billion. confirming its full-year view, subdued 2020 macro development and is talking about lifting siemens energy in september. siemens was buying stake in the turbine maker for $120 million and the holding was to be folded in the planned energy spinoff. it is about the latest push to dismantle the company's conglomerate status, focus on digital services and factory equipment. these numbers are coming in at a miss. there is some level of exuberance in u.s. equity markets, in the nasdaq record high, but the yuan is more distrusting of the short covering rally in the states. have a look at the yuan, because we are above the seven level on the five-day chart. it is about the pboc messaging clearly what is available liquidity, liquidity, liquidity, and there is no tolerance for a major break above seven. cutsd we prepare for rrr were more moderation in lending facilities to the real economy? we closed some $50 for the first time in year. thquestion for

regulators blocked its attempt to merge with german competitors siemens last year. let's get to the bottom of this with our reporter daniel winter daniel welcome along so why is alston so keen to snuff out from body israel well rob i mean also has been casting about to bulk up for a while now and mean as you just said that a bloc to deal with. really angering the e.u. so much they had to intervene there seems and it's an effort to create a challenger to china see os see which is a bear of a train may come you can see this now combination of. a would to get close becoming the 2nd biggest train maker in the world with 15300000000 euros of sales and 2018 not quite enough to beat c r c and the 21000000000 euros but much closer after all the threat from this chinese competition is not necessarily just on the global stage but also in europe as well so c.r.c. is to get a foothold in europe now deutsche bank has assessed the potential of the merger and they say that for alstom their earnings per share could go up by about 17 percent and that's a figure which investors pay c

the door is not made by siemens. that's a subcontractor, but we still hold siemens accountable to delivering a successful door. the core vehicle is a siemens vehicle, and it is incredibly reliable. that said, i think siemens has been challenged to build a door that works in our operating environment. i think they did underestimate what it was going to take to go through our tight turns, go up the church street hill, navigate our grades and our grade changes, and those -- those issues are incredibly important to our system. that being said, they are committed and showing up every day with engineers and with quality control people to work through these problems with us. we are yet to have a conversation, for example, with attorneys. all of our work so far has been about tackling hard design challenges, and san francisco is very much a difficult design environment. >> great. any other questions from directors before we open it up -- director eaken? >> great observations and comments. i love the new portal for operators.

for siemens, numbers were weak across all divisions. the energy business is still suffering.e renewable parts, the wind power business, which saw a today, theeek and health-care division isn't growing as expected. hot asrders aren't as expected and auto weakness means the usual stall wart of siemens industrial software business isn't doing well, either. across the board, a pretty weak earnings quarter. >> tesla, hitting another all-time high. the stock has already doubled with observers trying to figure out how elon musk is doing it. it has been a phenomenal rally. the last couple of days alone. what is behind this? tesla has answered a lot of the questions in the last two quarters, but recently. they had the case that was used to poke holes in the tesla story. they said they couldn't generate money and the company would always be going back to the markets for more cash to fund elon musk's ambitions, but they did that. they generated positive cash flow, been positive to quarters in a row, and there has been a sentiment change industrywide that the age of electrification is he

. >> siemens has warned a market slump is set to continue after quarterly profit already missed estimatesp decline in the automotive, machine building, and energy businesses. the results come on the same day as the annual shareholders meeting where the ceo is facing even more pressure from environmental activists over a contract to supply an australian coal miner. >> for siemens, numbers were weak across all divisions. the energy business is still suffering. both the renewable parts, the wind power business, which saw a loss last week and today, the health-care division isn't growing as expected. trend orders aren't as hot as expected and auto weakness means the usual stall wart of siemens industrial software business isn't doing well, either. across the board, a pretty weak earnings quarter. >> tesla, hitting another all-time high. the stock has already doubled with observers trying to figure out how elon musk is doing it. it has been a phenomenal rally. the last couple of days alone. what is behind this? >> tesla has answered a lot of the questions in the last two quarters, but recently

the corporations around the world are being measured by their green credentials engineering group siemens recently suffered a p.r. disaster over its involvement in a coal mine now the world's largest carmaker folks wagon has pledged to hire a climate activists c.e.o. have a diesel the financial times the individual will be able to scrutinize the company's environmental policies the pledge comes as the volkswagen group pumps over 30000000000 euros into battery powered cars and aims to sell a 1000000 emissions free vehicles in the next 3 years the climate activists have criticized the automaker for continuing to sell gas guzzling s.u.v.s and also for its slow transition from combustion engine production. and that's it for me and the business team here in berlin i'm stephen beardsley as always thanks for watching. the refugee crisis of enormous proportion. so far an estimated 6000000 people have fled venezuela. they left their homes to escape poverty and hunger. paramilitary forces. and despair. is gone wrong in this once prosperous country $3000.00. and 60 minutes on t.w. . this is somethin

position in this field at least here in europe but the big difference compared to the failed merger of siemens trains and us tom last year is high speed trades here bought by g.e. is not active at least not as a train builder it's just a supplier here so no dominant position here which means that it's quite likely a few conditions will be applied but the anti trust watchdogs will likely not completely block this deal ok some of those trains we could see they're running behind you on the screen or actually built by bomb body but the company is struggling and what i find really strange is the rail travel is so popular right now. that's true for many many years was the global market leader when it came to train building up until this chinese this huge chinese competitor was formed c r r c but paid a high price to maintain this position as you said it has a huge amount of debt and this financial situation will lead to problems with quality in many different fields in the recent years has problem has had problems with customers you know software didn't work deliveries were delayed the pro quality o

these include firms like microsoft and siemens, as well as car factories operated by honda, renault,otors. virtually all of the world's iphones are made in china, mostly by foxconn at sites in zhengzhou and near shanghai. foxconn has said its facilities in china remained closed for public holidays and would remain so until all businesses have resumed standard operating hours. china is the world's largest producer of active pharmaceutical ingredients, and has 15% of the world's facilities that manufacture active pharmaceutical ingredients for 370 essential drugs. china also produces a significant portion of the world's supply of protective gear, such as face masks and respirators. let's get more on this story with tracey dawson, managing director of daletech electronics, a company that makes circuit boards. joining us from our studio in the north of england, how can what is going on in china affect what your business is doing here in the uk? good morning and thank you for inviting me. we manufacture electronic assemblies for diverse applications. the majority of our components and mat

of this outbreak has put workers on remote leave there are other companies like georgia bank and siemens here in germany have canceled business related trips to italy and other parts of asia and you mentioned the airline industry that's one of the sectors that's really taken the most dramatic steps so far lift. and also the operator of the frankfurt airport here have both said that they're putting employees on unpaid leave they are going to be cutting costs so i think the businesses are really trying to steal themselves for the impact here and of course we've seen strong market reactions we could see the docs behind you also . gain trading so many driven by the coronavirus right now. it's really all anybody it's talking about this week there is sort of a sense of panic in the markets and i think that's in part because markets have been quite complacent on this arrest up until monday last week stocks were at a record high both here and for the president and the u.s. investors really thought this disease outbreak would be contained to china and now they're really having to face the prospec

well i think there are a couple things here one the protests that have really rocked siemens and it's an element in the donny coal mine i think that really woke up a lot of german corporate business leaders and it made them realize that they need to pick up make a much more aggressive strategy and not just. look at things like climate neutrality goals and things like that so i think a lot of businesses are trying to make. just be much more aggressive in terms of their environmental policy but for volkswagen in particular they're still reeling from the the emissions emissions scandal so they're really trying to put themselves forward as a leader in this but they also are dealing with new emission standards new environmental laws in the e.u. and so there's really a financial incentive for them also to be really pushing forward with a greener strategy here joseph frankfurt thank you. and finally a doomsday vault in the arctic has received 60000 new seed samples which are being stored there in case of global disaster amid mounting concern over climate change and food crop extinction group

we are seeing with alstom and bombardier, are a lot easier to overcome than the one they had with siemensey are very complementary in terms of geography. as the discussions and deal talks were taking place, antitrust issues were at the center of these discussions. actually, the french finance minister was meeting with the european competition commissioner, to address any of those concerns. are time around, the french taking action, trying to be in the driving seat, being very proactive, trying to collaborate with the commission, to make sure the deal gets cleared. amanda: of course, a lot of toorts of bombardier looking sell assets because it has so much debt on its balance sheet. it has trended down to its business jet division, still with a fair amount of debt, but much less. is this the healthy position that people were hoping to see? >> absolutely. there was speculation actually thate we broke the deal they were looking at filling their business. it's a fair question to say what will be left of bombardier. this is such a key part of the business. just last week, they exited from progr

siemens case was the 1st to deliver justice to torture victims knowledge and tina. although the torture cloris was identified hit out of them has still not been able to identify can fool just one of the thousands of torturers still at large. who have. in 2011 al jazeera reported from tanzania on the sinister trade in the body parts of albion. this is where people are numbs feed up before to write and shop on the spot rewind revisits a survivor. mutilated to service the rituals of witchcraft. rewind spell of the albion on al-jazeera. would winning the programming from international filmmaker hence the play al-jazeera sets the stage egypt of ethiopia will be the life of the line of the life of the ninety's dead everybody is there global ex-pats you get it we're going to let the planet go to ruin because we're not doing obvious things open your eyes to an alternative view of the world today on al-jazeera. or counting the cost the tale of $2.00 nations will strain is unrelenting charges you call a germany's plan to get out of coal powered energy plus the unseen polluter

siemens case was the 1st to deliver justice to torture victims knowledge and tina. although the torture cloris was identified hit out of the has still not been able to identify can fool just one of the thousands of torturers still at large. who have. in 2011 al-jazeera reported from tanzania on the sinister trade in the body parts of albion this is where people are nuns feet on the porch. and shop on the spot rewind revisits a survivor. mutilated to service the rituals of witchcraft. rewind spell of the albion on al-jazeera. the latest news as it breaks the syrian army seems determined to defeat the rebels and continues advanced was the city of red lip that's a red line for turkey with detailed coverage of the national policy defense of wild elephants is yet to be fully fit men to 14 years off it was introduced from around the world well this fight will be completely transformed over the next 6 years this will be the northern terminus the face one of the project. where they're online like probably recovering to one of the worst grabs the mainstream media about. or i

contract linked to an australian coal mine despite demonstrations against it the protest coincides with siemens annual shareholders meeting. climate protesters briefly forced the closure of b.p.'s london headquarters on wednesday morning activist place hundreds of solar panels outside of the building they say that they wanted to show the oil and gas company as new chief executive what he needs to do to tackle the climate emergency at least 9 people were arrested. and somalian authority use that in the united nations have called for urgent humanitarian assistance amid a food shortage that could threaten millions of people they say the situation could be made worse by swarms of locusts that have been damaging crops across east africa . to rugby now in the 2021 women's world cup will be held in new zealand bringing the final to the southern hemisphere for the 1st time organizers are hoping that the 5 time champions new zealand squad will draw crowds comparable to the men's final in the country in 2011 the last women's rugby world cup took place in ireland setting records for attendance and televis

ouster marty tried to join forces with germany's siemens but the e. u. blocked the merger last year over anti trust concerns. and finally friday course a big day for florists but they're not the only ones making an extra buck this valentine's day. according to master card global spending on gives a shot up 17% between february eleventh and february fourteenth of last three years. that includes perches on things like hotels and restaurants as well as flflowers and jury. spendingng jump as big even bigger here i in france increasing by some fifty percent. chris online they historically big really anglophone world certainly the us and uk but- early catching on here lisa. to my card. because of some thank you very much call that will you. from time now for me to watch withth and james and the french. talking about compound with american maybe that talk about a pet schoolol s six got. at off the frfront they have been talking this one or day bridgman people. yes absolutely it is an interesting one because- sent me in the united kingdom and the united state

european commission hadad blocked alstoms previous attempt to tie up with germany's siemens french group is trying to shore up its global position and become more competitive against chinese giant c. r. r. c. meeting with the use competition chief bird on the merits of the austin bombarded deal would be good for the block. as a whole. via computer chinese champions of their american champions. to face them we need a european industrial champions and european digital champions. to defend our economic interests and our economic sovereignty necklace with it because- it's not a question of weakening competition law it's a question ofof it actingng competitionon o the reality of global economic power relations. so that the european union can play it's part of project. which we following that story see- if indeed the deal is a allowed to go throughgh indeed thank you very much for that kate kate will be there with a look at today's and business. timex for mediaa watch which aims at creating grieving james i plan on starting out in the united kingngdom where there's a date debate going on over

firms like microsoft and siemens, as well as honda, renault, psa and gm carfactories.f the world's iphones are made in china, mostly by foxconn at sites in zhengzhou and near shanghai. foxconn has said its facilities in china remained closed for public holidays and would remain so until all businesses have resumed standard operating hours. china is the world's largest producer of active pharmaceutical ingredients, and has 15% of the world's facilities that manufacture active pharmaceutical ingredients for 370 essential drugs. those active pharmaceutical ingredients make drugs work. karishma vaswani is in singapore. it is interesting, wanted to pick up, you talked about putting billions of yuan into the economy, the reverse repo, as it has been described but there have been pretty brutal moments on the market, hasn't it? yes. in the first instance it is important to remind our audience that the reason why we have seen this collapse or this slump in chinese shares, at around 9%, bit of a recovery towards the end of the day, is because chinese investors we re day, is beca

we have siemens, qualcomm, disney >>> tesla dips by more than 17%. after the electric carmaker said vehicle deliveries will be delayed due to the coronavirus outbreak meanwhile, a downgrade from a hold to a buy saying investors should way to purchase the stock. tesla shares accelerated by more than 20% on monday and more than 13% on tuesday >>> volvo cars posted an 18% rise thanks to lower costs and increased sales that helped offset also recorded a 10% rise in 2019 as they got a boost from a strong performance in china and u.s. suvs also did well outlining the impact of the coronavirus on his company >> it is basically a stand still. we have the normal shutdown for the new year right now, that is prolonged very few people out in shops, in streets and no one in factories, offices or businesses. everyone is staying home and avoiding crowds of people. all together, no cars sold no cars produced it will be a stand still around two weeks more than was planned. >>> coming up on "street signs," reporting a rise of key capital ratio and looses reference to

blackrock says siemens needs a more formal -- a more thorough review of the risk.d overhaul in a decade. chairman mark tucker is looking at job cuts, closures. investors are getting frustrated. we end in brazil. the country unloading a $5 billion state in an oil giant. it is part of a wave of asset sales aimed at reversing years of government influence. bolsonaro wanting to turn more of the economy over to the private sector. i am viviana hurtado and that is your bloomberg business flash. alix: time for bottom line. we look at three companies worth watching. i am watching casper. you're looking at a $100 million valuation of ipo, bottom end of the range. the rhetoric is easy to say something like this means something about the capital markets, but on the same day a biotech company raised $1.16 billion, the top of the range. it means you have to show a profit. that is where you get risky uptake for an ipo. michael: this has been interesting to me because there are so many new mattress companies and we have all been used to the discount mattresses and how they compet

siemens down 4.6%. they recently reported their profits, disappointing.nie: thank you for that comprehensive data check. this is bloomberg. ♪ ♪ guy: time for a bloomberg exclusive. maria tadeo spoke to china's ambassador to the european union about the coronavirus. take a listen. >> who actually repeated several they did not suggest travel and trade limitations. the who is an international organization. they have dealt with several epidemics. they have collected many experiences which are very helpful. one of them is no limitation for , no limitation for trade. years ago, we thought sars. we benefited from that regulation. governmenthat the s. -- that the governments respect and follow w h a -- follow who's advice and regulations, which are professional. they are advice from the real expert. you mentioned there is no need to tame trade or do trade relationships differently. how much is this going to hurt the chinese economy, if any? epidemic will affect , but themy in china effects will be limited and for because a epidemic would not change the fact that

you have a company in china called crrrc, you have a company in germany called siemens, you have a company in france called aztum and you have a company in quebec called bombardier. there's no u.s. company making those products. so i think there's a great opportunity to work together, to build a champion of these products in north america. but right now, we have a challenge with buy america and buy american. the requirement of 70% doesn't permit us to integrate our companies together. second subject, very rapidly, i draw electricity, quebec as very large surpluses of hydro electricity. we already have gleams with vermont, with massachusetts, with new york, and we're in negotiations with mr. deblasio at the city of new york, to export more hydro electricity, cheap, and clean energy. thank you. >> thank you very much pre. premiere ford. >> thank you very much governor hogan for inviting us down there and i know on april 21st, april 23rd -- >> make the plug. >> i got to make the plug here. we invite all of the governors up to toronto, it is one of the most beautiful cities in the world, and i

last year, regulators blocked a merger between alstom and siemens' rail operation. -- is looking to get sports shares have dropped since their debut last july. that is your bloomberg business flash. quick check on where we sit with the markets right now. the u.s. is closed. it is president's day. as a result, we are seeing very like volume in europe. when you take a look at what is happening with the stoxx 600, trucking a little higher today, up by about 0.3%, you should appreciate that is not confirmed by the normal volume you would see in the market. euro-dollar trading absolutely flat right now. still trading at the $1.08 handle. last friday, we were trading at 2017 levels. down about 0.2% when it comes to brent, $57.23. up next, counting you down to the end of european trading. this is bloomberg. ♪ top 70,000virus case come about china will allow macau casinos to open their doors once again to restart an economy now predicted to grow at its slowest rate in 30 years. a frosty reception. willin's chief negotiator set out brexit goals at a major speech tonight. the french foreign minis

siemens health and ears down 4% this morning.h profits that missed estimates, group earnings falling 11%, dealing with promise -- problems at installations. 3%.us baer down more than they dropped a target for new money after missing last year. on top of that, they announced cost cuts. some of that is flashing -- slashing 300 jobs to create a leaner bank. matt: thanks very much, annmarie hordern looking at your movers this morning. it's been a volatile session. keep your eye on that. china is grappling with the coronavirus outbreak after the lunar new year holiday was past 360 astalities out of china. joining is now is professor jimmy what worth. -- whitworth. put into, could you perspective for us just how deadly this virus is between the common flu and sars? where does this fit in? jimmy: well, thank you for that question. er of people that it kills or makes seriously sick, it's very much worse than the common cold. it's more like a severe flu, but it's not as severe as sars, that was killing 10%, 11% of those infected, whereas

siemens. [booing] pres.for those of you that want to hear it, more stuff goes up into the air and up into the ozone. the atmosphere. more stuff is going up there. they don't say this. after a time, they get old and rusty. a lot of the guys say, they are useful. let's get out of here. they are all over the place. look at palm springs, california. they are all over the place. they are closed, rotting, they look like hell. every major democrat running for president wants to entirely eliminate american production of oil and natural gas, crushing colorado's economy. [booing] pres. trump: destroying tens of thousands of colorado energy jobs and demolishing property values all across the state. they are doing that. you will look for one of these people, probably crazy bernie. he seems to be leading. [booing] mike, iump: many thought he would come up. he can't because he can't debate. he wasn't meant for the camera. we agree? he was not exactly great last night. no, i think he lost last night. only in colorado could