siemens the details we're hearing here in the virtual format that they'll spin off 55% s siemens energy to start the ipo is slated for the 28th of september of 2020 who knows what type of market we'll see there. you've been watching this closely. if you want to weigh in with some comment >> yeah. i do, karen. and this is a story we've seen play out across corporate germany in recent years. it's a story of a major industrial conglomerate trying to slim down the comments you said from the cfo capture what they're trying to do. trying to unlock value that is perhaps been hidden in the business because it's a conglomerate it traded at a conglomerate discount because of this and they're trying to shed the mystique attached to being a conglomerate you've seen a similar action from another major german conglomerate we have to think about the role the activists the investors have played in triggering the moves from german corporate's. this is seimons trying to be proactive and take measures to focus more on profitable businesses and unlock value in doing so. >> looking at a comment from siemens

we did consolidate siemens energy from siemens ag.hink the biggest potential on that move, which we are hopefully going to approve today, will be a potential regrading of the new siemens ag e-rating of the new siemens ag. taylor: coming up, uber steady to past profitability, extending further into for delivery with an acquisition of postmates, but will the deal deliver? , anhead with steve jang early investor in both uber and postmates. ♪ taylor: uber is trying to achieve the long-awaited profitability. they are announcing plans to acquire postmates for $2.65 billion. some are welcoming the consolidation, while others expect an uber-postmates merger could draw antitrust scrutiny. --ning us is steve jong, steve jang, an early investor in both uber and postmates. great to get your perspective on this. this market was desperate for consolidation. is this the right deal, even though postmates maybe was not a big competitor? i guess you just want to take out a competitor and consolidate in any way you can? steve: thanks for having me back

siemens usa is about 25% of siemens globally. power has had a huge presence here.nergy hub in charlotte produces gear that goes to power plants around the world. in fact, we are a net exporter to the rest of the world. for just about everything that siemens produces, you will find domestic production. we have been proud to have strong manufacturing -- a strong manufacturing supply chain base in the u.s.. now to theonding power supply executive order, helping the administration today understand the force of the components that go into our electric grid. this is a moment of energy transition around the world. it is a moment when supply chains can become more localized. we had siemens are dedicated to reporting -- supporting our customers. alix: please come back. really appreciate the conversation. barbara humpton, president and ceo of siemens usa. this is bloomberg. ♪ >> we do need aggressive interventions in crisis, but i think we should make no bones about the fact that these types of interventions are not ultimately dealing with the pandemic. ♪ live from new york,

german industrial giant siemens as one shareholder backing to spin off its energy subsidiary part of a larger move toward a coal power free future over 99 percent voted in favor of spinning off the unit which is valued at around $17000000000.00 euros now energy which includes oil and gas gas turbine and power transmission divisions could be launched as soon as september siemens has long sought to shed the division into wood into a separately listed company and here's our frankfurt financial correspondent conrad with his take on this move the energy business that siemens wants to spin off consists for lots of part off technology for power plants that are driven by fossil fuels by coal and gas not an easy sale in times which are all about renewable energy but the unit also contains a message which is the wind energy unit of siemens and a spin off would make all kinds of different strategic opportunities possible for the unit which are impossible right now for example merger of the business with a competitor also convinced that what is going to remain off the digitalisation business the

before the coronavirus pandemic many sailors frequented the hamburg siemens club here they could make free phone calls or transfer money to their families but since the pandemic it's mostly empty. is the exception. his captain gave him permission to leave the ship for an hour so that he could wire his family some urgently needed money he wouldn't have left the ship for any other reason. we are. now. members of another crew have been given permission to leave their ship without any restrictions and come here for a few hours the rooms are well ventilated still they keep to themselves so that they can enjoy their free time without fear of catching the virus. after the money has been transferred to his family module voluntary quickly buys a few things at the seaman's mission shop. they stop the items that sailors are always asking for souvenirs toothpaste and sweets and pork chunks which are pork flavored chips popular among the sailors. from the pope also called the ones that are allowed to come here rejoice like it's christmas they come in with their beaming they're so happy to come ins

siemens shareholders will vote on spinning off siemens energy today.he company plans to cede majority ownership of the unit in late september to create a newly independent turbine and oilfield equipment maker. we spoke to the ceo earlier. >> the reason that we do the we believe our inpany is very relevant unprecedented times and speed of change. massive value creation. a similar method we do now with splitting our company into the industrial software automation company, including infrastructure as well as siemens energy. we talked about siemens energy to the market. this is also about d risking new siemens energy, focusing on software infrastructure and modern mobility. that is a restructuring story. there is a lot of overcapacity in the energy market. weak oilthere no very price that will stop you from doing this at the end of september? >> the oil price is not relevant. heardequity story, we about the equity story, the restructuring case. the real equity story is about conferring siemens energy from traditional energy generation into renewable energy

from the german siemens mission is coming on board today he's bringing a few things to the sailors who can't leave the ship the port of hamburg itself has been allowing sure leave again but the captain on this ship has decided against it and the crew is backing him up but it's ok. because. both he and i think. that's why. this ship will be docked there for 2 days unloading iron ore it's a time when those on board have a better phone connection for calling home and better internet than on the high seas that's why the siemens mission is bringing the sailors german sim cards for their cell phones. just sold a dozen of them and he has a sympathetic ear for the problems the sailors are facing. if the virus made its way on board then in the worst case scenario it would mean that the ship would have to stay in the harbor it wouldn't be allowed to leave. before the coronavirus pandemic many sailors frequented the hamburg seaman's club. here they could make free phone calls or transfer money to their families but since the pandemic it's mostly empty mark shields voluntary is the exception. his

from the german siemens mission is coming on board today he's bringing a few things to the sailors who can't leave the ship the port of hamburg itself has been allowing sure leave again but the captain on this ship has decided against it and the crew is backing him up but it's ok there is. this will be. that's why. this ship will be docked there for 2 days unloading iron ore it's a time when those on board have a better phone connection for calling home and better internet than on the high seas that's why the siemens mission is bringing the sailors german sim cards for their cell phones. just sold a dozen of them and he has a sympathetic ear for the problems the sailors are facing. if the virus made its way on board then in the worst case scenario it would mean that the ship would have to stay in the harbor it wouldn't be allowed to leave. before the coronavirus pandemic many sailors frequented the hamburg seaman's club. here they could make free phone calls or transfer money to their families but since the pandemic it's mostly empty mark shields voluntary is the exception. his captain

-- de -consolidate siemens.l on that move will be approved today will be a rewriting. that is always have time for. i appreciate you stopping by. joe kaeser, presidetn / ceo, siemens. they are expected to vote on the spin off for its gas and turbine business later today. , coming up, futures are pointing higher as the chinese rally continues. this is bloomberg. ♪ it's pretty inspiring the way families redefined the word 'school' this year. it's why, at xfinity, we're committed to helping kids keep learning through the summer. and help college students studying at home stay connected through our university program. we're providing affordable internet access to low income families through our internet essentials program. and this summer, xfinity is creating a virtual summer camp for kids at home- all on xfinity x1. we're committed to helping all families stay connected. learn more at xfinity.com/education. more voluminous hair instantly. all it takes is just one session at hairclub. introducing xtrands. xtrands ad

frankly we have no choice but to get involved assert goats are our washington correspondent staff and siemens that welcome staff and so what else do we know about this surge. and not too much except that the president is adamant and his administration adamant to send more federal law enforcement personnel into the named cities chicago as you said albuquerque even kansas city small amount there that will those will be law enforcement police from the f.b.i. the federal bureau of investigation from the d. e. a the drug enforcement administration from the a.t.f. alcohol tobacco and firearms agency and the h s i this is the homeland. the department of homeland security. acronym for this so we will see in those cities according to the president now a significant number off all federal law enforcement officers and as you can imagine the cities he chose are run by democrats as mayors. so they are not that happy about this and it is so far an open question why no. violence in chicago is bad no doubt about this a lot of people die there every day every weekend. and local law enforcement trying to get a

of siemens in south africa her company provided the digital platform to design and build the ventilators audience to experience from other countries specifically italy and spain we have seen that you know numbers can increase quite rapidly and it was clear that is a force in the world africa might not have the 1st priority and we decided to immediately stop these dishes solutions to help develop that product which is now on the market hard in early lockdown put many south africans out of work but it did succeed in delaying the major covert 1000 outbreak this provided valuable weeks to increase the capacity of hospitals after 3 months of construction the 1st phase of the field hospital in nelson mandela bay is inaugurated the south african health minister is impressed is has been now a step peace within record time and demonstrates that efficiency and a very. strong. and free jenny is full of surprises moved on hold out. some sit in the footsteps of the right. in your. most town the fleet street. for a time you want to kill marry much alive you travel good god exists in germany. recognizi

ago the golden empress morgue in the german port city of hamburg all out short a from the german siemens mission is coming on board today he's bringing a few things to the sailors who can't leave the ship the port of hamburg itself has been allowing shore leave again but the captain on this ship has decided against it and the crew is backing him up. lol. but it's ok for our safety result because. this pandemic both you and i did. that's why we stay on board we're not sure we want the outside you know there were some places but because. we can not go outside. the ship will be docked there for 2 days unloading iron ore it's a time when those on board have a better phone connection for calling home and better internet than on the high seas that's why the siemens mission is bringing the sailors german sim cards for their cell phones. just sold a dozen of them and he has a sympathetic ear for the problems the sailors are facing. if the virus made its way on board then in the worst case scenario it would mean that the ship would have to stay in the harbor it wouldn't be allowed to leave and yo

assets while last year european regulators blocked out soms attempt to buy german engineering giant siemens over fears that the combined company would become too dominant. or at max's andor is covering this for you from brussels max great to see you why is the commission apparently just waving through this deal that despite their initial concerns yeah you said it already this is not the 1st time that the can that the european commission is dealing with an all star merger and last year the commission blocked a deal between all summons humans between because and to trust authorities were under the impression that this move would just make their company the combined company too powerful and harm competition in the block also and siemens back then weren't willing to make enough concessions they just weren't capable of convincing you regulators now the situation is a little bit different. have fewer overlapping sectors on one hand and on the other they were willing to go further in terms of concessions and did it come with strings attached. well also has committed to a divesting they are they wi

competitors also siemens embody a our liking behind the merger could help all sterling canadian firm by the year hold on to the number 2 spot and improve their competitive edge but the deal will come with some restrictions it took revised plans and strict conditions for e.u. regulators to allow this deal to go ahead. will have to divest essentially by selling off some of its own and all but is assets some of the production sites in germany and france will have to go as well as some of the technology and trade models. size alone can't solve the problems facing european train manufacturers they've long complained that the deck is stacked against them accusing c r r c of receiving illegal subsidies from the chinese government. and while the competition has access to the european market e.u. producers are not allowed access to real networks in china japan south korea or the usa. the u.s. decision to withdraw 12000 troops from germany sent shock waves across the country raising concerns about security and transatlantic tides but for the locals of the bavarian town of food sec where a 3rd

competitors also siemens embody a our liking behind the merger could help all sterling canadian firm from body a hold on to the number 2 spot and improve their competitive edge but the deal will come with some restrictions it took revised plans and strict conditions for e.u. regulators to allow this deal to go ahead alston will have to divest essentially by selling off some of its own and all but his assets some of the production sites in germany and france will have to go as well as some of the technology and trade models. size alone can't solve the problems facing european train manufacturers they've long complained that the deck is stacked against them accusing c r r c of receiving illegal subsidies from the chinese government. and while the competition has access to the european market e.u. producers are not allowed access to real networks in china japan south korea or the usa. the u.s. decision to withdraw 12000 troops from germany sent shock waves across the country raising concerns about security and transatlantic tides but for the locals of the bavarian town of 5th sec where

does business in more than 100 countries i'll still was way behind in 2nd place number 3 is germany siemens the e.u. blocked attempted merger with alstom last year. from bharti is the global number 4 and is the leader in europe emerged somebody who would become the world's 2nd largest rail technology group after c.r.c. with sales of around 16000000000 euros. now to some of the other business stories making news boeing has settled claims related to the crash of a 737 max jet in indonesia 2 years ago a u.s. plane maker did not disclose the amount of compensation the crash followed by another one in ethiopia led to the grounding of all 737 max planes. deutsche bank has agreed to pay $150000000.00 to settle claims that it broke compliance rules in its dealings with the late sex offender geoffrey epstein and the regulators said the bank failed to prevent millions of dollars of suspicious transactions. coronavirus has devastated revenues a german car maker dialer but the manufacturer of the luxury mercedes brand is cautiously optimistic as an upturn in china spreads per se he's been sales plunged

correspondent stuff and siemens in the washington d.c. welcome stephanie chicago then the next stop on the list of cities slated to receive federal troops what is the problem that the president says will be solved by sending in the feds. president thinks that surging the amount of federal law enforcement personnel to chicago will solve chicago's crime problem gang crime problem that these all denies to crime violence latest incident just yesterday 14 mourners at a funeral home were shot by in a drive by shooting now indication here that this is gang related. that the people who came out of the funeral home and were shouted out of the driving recall shocked beck so everybody walks around with guns if you're in a game and you're organized crime then that's very likely that is what mr trump the president wants to tackle with sending federal law enforcement personnel in as you have heard chicago adamant about if this is coordinated and collaborative then they have no problem always good to have more boots on the ground to fight organized crim

the ceo ofak to siemens this morning. 6:00 in london, 9:00 a.m. in dubai. there's lots of tentacles of risk that will boil through the day. australia, new zealand, looking at extradition, but i love the story. you have to give attribution when somebody else finds a great story. it is about goldman-s. we need to prepare ourselves for the risks that come over the election. they are talking about the year 2000. i was in a different world. worried aboutmore secondctions thana whack of the coronavirus. >> it is interesting. you have got jp morgan saying the s&p can hit another record. he says investors are mispricing both the virus risks and the election risks. couldgan says the impact be neutral or positive. aboutve goldman talking volatility picking up towards the end of the year. they talk more about december rather than november but it is pertinent for us to talk about it today because we have biden laying out his plans in pennsylvania later. that will bring the election risk of little bit more to the forefront as they assess where academia gets -- equity ma

and correspondent chef on siemens is in miami for us stefan we're seeing grim new figures what's the situation like in miami. situation is grim and as much as the figures today and now there are 11000 new coronavirus infection cases that's massive yesterday 15000. florida as a state has 20 percent more new coronavirus cases then arizona 70 percent more than texas doubled the amount of california so this is the absolute red zone here this is the worst case scenario in the last 4 weeks and for florida remember just a few months ago and this is like around dog day here it was this governor in this state which came late to the game to close down late and they opened early and people forgot to wear this or were complacent and didn't think it was necessary to wear this mess we're back to mask the basics wear a mask when you're outside when you're inside and tracing and testing testing testing testing none of this has happened here within the last few months and this explains why the numbers in florida so staggeringly high dangerously high because now tracing is not even possible anymore be

sought to spin off its multi-billion euro energy division into an independently listed company and you siemens energy could be going public services into the bridge trade make a whole system has offered to divest parts of its business to a late european commission concerns about its planned purchases of canadian from these rail business if the commission blocked olson's plans merge with world vision of german industrial giant zenit. and the science is to ramp up production of its that he retroviral drugs. that's according to the company's german head the drugs being sure to alter the course of coated 19 it's been approved by the european union the united states and for most of the global stocks for the next 3 months. the euro group votes for a new president today it consists of the 19 finance ministers of the nations that share the euro spanish had it not yet is the front runner and could become the 1st woman to head the body. yet sam says she can navigate brussels spirit crissy with her eyes closed. a 51 year old spanish economist spent more than a decade in top civil service at the e.u. comm

not turn around and so i am very can let's go to straight straight to washington where did stuff on siemens is on the story stuff on thanks for joining us that's a stark warning we just heard from dr what is that that concerns them the most. the numbers it's the numbers which can start in the 1st and this is what he sees in trends and that's why i said stock warning could be $100000.00 shortly per day i remind you those are infections cases per day he's warning off of 800000 in the united states $36.00 states out of 50 have now trending up. cases compared to just a week ago 15 states are reporting the highest infection numbers to date 12 states only 12 states only have a flat rate and only 2 have a declining one that is not good math these are not good numbers and for in effect just disease expert like mr follett anthony fauci this is really really alarming so it is for also the director of c.d.c. who said the same thing it doesn't look good the trajectory is really really bad texas reporting 7000 cases record today california with 6000 and i could go on florida georgia arizona and so on so

you have a company in madrid called ibidrola, ibe siemens gamessa. i like a company called yvon grid they're going to do some financial engineering. in the infrastructure, joe, roads, bridges the internet how do we get speed? how does comcast do well in the cable world with xfinity how does charter do that as part of charter, tom does a great job. we look at financial engineering. in the entertainment world, you mentioned netflixment don't ignore disney, peacock i paid $7. you paid adding three zeroes who is providing the content if you looked at netflix with the microscope, they had more amortization in the second quarter than they had film content spend. so who is making content and where can you buy it globally? those are simple things. >> yeah. keep going what other things? i mean, how early were you on the whole -- i always go back to that you knew we were going to fall in love with our pets and that entire -- i mean, you've got other big themes like that that was 20 years ago when you told me about that and it's done nothing but go up, up, up.