so for me, this is of the strategy we're siemens, assuming that you can continue investing in china, we want to keep or even increase our market share there. there's nothing bad about it's taking the chances we have. but at the same time, looking into other markets with a stronger focus and grow our business there too. but there have been quite cautionary notes about china at this conference. i mean, the former australian prime minister, kevin, but just speaking earlier today, talking about china moving to the marks is left on the economy and to the national is right in terms of security. and as she gym, paying, as we've just seen at the recent party congress, what does this mean for a company like siemens which has significant investments in china? young number one is um, as long as we take our make our return, we make a profit to go. the chances are it's, it doesn't really change our strategy. and if there's something disruptive happening there, then we have to deal with that obviously. but until then, i don't, i don't believe it's a good idea to say pre cautiously i pull out of a

. >>> siemens on the turn and the c ceo says he is bullish despite the outlook. and defending the move that sparked the downfall of ftx as the head of binance speaks out >> he lied to investors and regulators and users and there has been misappropriation of user funds i think all of those things happened in my definition, that's fraud. >>> and investors find an explosion in poland was not part of the deliberate attack from russia it is important to keep the pressure on moscow >> it is not a question of saying if we do nothing it will go away. it's not going to go away. these reality. >>> well, the countdown is nearly over. today, the uk chancellor jeremy hunt will make budget announcements after forced to review and revoke the mini budget he is set to raise taxes for everyone in the country and trying to reassure the markets and plug a financial hole estimated in the tens of billions of pounds this is the highest level of inflation in four decades for england and the longest recession on record. the fiscal tightening is after the bank of england enacted the large

what does this mean for a company like siemens which has significant investments in china? young number one is um, as long as we take our make our return, we make a profit. tegler, chances are it, sir, it doesn't really change our strategy. and if there's something disruptive happening there, then we have to deal with that obviously. but until then, i don't, i don't believe it's a good idea to say pre cautiously i pull out of a market which has used opportunities for us because you never know the same time. and what we do definitely is working or supply chains, which is another dimension. there are 2 dimensions of diversification. one is the market accessing the number one supply chain. of course we are diversifying our supply chain very much so. so that in case something happens, yeah, for an export control regulations that we have double sourcing and we can keybo operations running in other countries of course. so therefore i do believe that is the right strategy and term and we feel quite comfortable with that. i would subscribe or sort of description for of mr. rod yet

siemens out with a cracking set of numbers today. the german industrial giant indicating that it's particularly when it comes to industrial automation looks really strong. blowing numbers out of the water in terms of expectations, a very positive response from the market. that stock up by 6.2%. let's talk about was happening stateside. abigail, how is it going? abigail: a bit of a bearish tilt. the mover dollar index is also higher. that of course is pressuring risk assets of all kind. we typically look at technology when it comes to this with the dollar rising. the s&p 500 down 1.1% for a second day in a row the worse today since the beginning of november. we are also seeing a lot of pressure on the commodity space down 1.5%. oil down 3.4%. more so it $82 a barrel. 82 to $83 per barrel. perhaps him or questions coming in there. and then the golden mining and copper property down 4% so the material sector overall down 2%. just wanted to highlight a bit of this commodity weakness as a result of that fed hawkish in us. guy: still try t

dani: a very optimistic siemens ceo there. me show you what the rest of the market is doing this morning. 10 year yields are moving higher, that is after two days of declines. two days of buying treasuries that also saw the long and move lower while the front and moved higher. all of that led to the most inverted yield curve since the 1980's. it is a bond market that is ringing the recession alarm louder. china is the other focus this morning, we will talk to annabelle about that any moment. we are seeing covid cases at their highest since april. all that demand concern, not just playing out in the chinese currency, also oil as well just 84 and a half dollars a barrel. that is at $92 a barrel. it is a demand weakening story that is playing through their. at the moment, some consolidation in equities after a decline of 8/10 of 1%. let's take a dive on those asian markets. annabelle is in hong kong for us. i know you are also looking at the tax base this morning. annabelle: that's right, we had those earnings out here. a few bri

c o's from 8 firms, including heavy weights like siemens bosh, and b s f. right? an open letter saying not to decouple. the companies say it is right for germany to read a finance relationship with china to it's increasingly assertive behavior and it's human rights issues. but insist germany needs to be in china to stay competitive. chinese investments in germany have been in focus lately as officials seek to balance strong business relationships with the need to avoid repeating mistakes made with russia. for more, let's bringing holler. gert, he's the president of the keel institute for the world economy. welcome to the program. so corporate leaders are warning of a deep coupling from china. so that the chancellor, by the way, prior to his recent trip or to beijing, do you see decoupling tendencies? well, i see tendencies and i think the most important issue at the moment is to keep calm and i keep a clear head. so i think it's clear the china is one of the most important trade partners for germany. but so is germany for china. so there you 2 relationships and th

the german concern siemens sold the entire russian financial leasing business, and this is stated inthe transaction amount exceeded one billion euros, which belonged to the siemens finance concern since the beginning of october has been owned by the insight investment group, let me remind you. siemens announced its withdrawal from the russian market back in may, according to experts, it is quite possible to replace the products of concerns. paris could become europe's largest stock market, overtaking london registered in the french capital for 6 years has soared by a billion dollars close, approaching the value of lundon, while british shares, on the contrary, are getting cheaper, and the pound remains at a low level, and experts consider all these problems to be brexit. foreign investors withdrew more than $212 billion from us government bonds in september ; largest holder of us debt. china has reduced its portfolio by 38 billion. this was economic news in a nutshell. ukrainian forces are making almost daily attempts to attack the territory of the lpr, pressure has increased along t

joining us is the cfo of siemens energy. using a sharp reduction of 2023 net loss versus this year, what has been the biggest change, the biggest switch that flipped allowing that sharp reduction? maria: thanks for having me. we have our results, perhaps the q4 results are indicative of why we see this change coming into fiscal year 23. we have orders, almost 30% growth quarter over quarter, revenue 6%. before special items, sitting at 6.5% for the quarter. one thing that is positive, that i am happy to see, almost $2 billion in cash. that momentum is driving into fiscal year 2023. this is what we see to drive us. i think it is important that we are not out of the storm. the headwinds in fiscal year 2023 did impact us quite severely in parts of our business. they will continue well into next fiscal year. we are poised and ready to tackle those. dani: things like sourcing materials, inflation, have any of those headwinds eased? maria: it's a really good question, because they haven't eased in certain areas. we still see sever

joining us now is jochen schmitz , cfo of siemens healthineers. start with that, with the supply chain. how much normalization, how close to complete normalization is it at this moment? jochen: supply chain is an ongoing topic and it is still tight. on the other hand, as in the past, we have our arms well around it with only one topic in one of our segments which put up back revenue to a certain extent. even that segment showed growth in the mid single digits. manus: good to have you with us. last year, you had the windfall profits from covid, covid tests. we were needy in covid. five countries in five days and it was 10 covid tests. you had that boost last year. that shifted. how is that going to impact you physically next year? how many euros are going to come off the top line? and how is it going to hit the bottom line? jochen: we were always very clear about the contribution from antigen. 1.5 billion of revenue. we expect a significant lower number this fiscal year with 100 million. but despite this drop off in antigen tests, we expect to show

siemens benefits from that. >> a question on healthcare. you own merck and sanofi what is that as opposed to defensive? >> they are much better than defensive. that is it the reality in the businesses is that they are marketing bonds p. sanofi and merck are internal epg engines. when you are growing that fast, they are growing low double digit. they are managing risks and pipelines and major patents and drugs. in the world of capital, the acquisitions they need to make to fill gaps are cheaper than they were. >> very valid point. jacob, thankful you came on to chat with us really nice to have you here in studio jacob mitchell cio of antipodes. >>> credit suisse offered 889 million shares to investors at 2.52 swiss francs to support restructuring plan it has been widely known of course that the stock has been under significant pressure now we know the details of the capital raising plan. >>> elsewhere, adidas has launched a probe into inappropriate behavior by the collaborator kanye west. it received anonymous letter alleging misconduct by t

let's bring in our correspondence upon siemens in washington. these see such f a republicans gaining ground probably taking the house, but there's no red wave or as the summer had been hoping in the republican side. now, many of the races are still too close to call. how do you see thing shaping up? absolutely right, terry, the republican way, sir. well, was maybe a trickle. he didn't even get denise wet as of now and as you pointed out there, so many races, still undecided too close to call. i would say the house, it is fairly, fairly fair to assume that the house will be in republican, has that the republicans will get the majority in the house. i remember they just had to flip fife seats there or gain 5 seats, and they have it. so this is going to happen in the senate. absolutely a very, very different picture. and surprisingly in states of arizona and georgia, and there is ana, a gubernatorial race, as well as senate race. the democrats are holding on as of now. and in georgia will probably have a run off between the republican and the democ

our correspond, stephane siemens are in the u. s. capital world is watching us mid terms aware that the outcome could well impact u. s. foreign policy issues like the economy and abortion have dominated the campaign. the war in ukraine is a concern for american voters as well. and some are questioning how much longer the u. s should support ukraine's fight against russia financially. russia's war against ukraine is one. the u. s. has not been able to look away from americans have already sent more than $60000000000.00 worth of assistance into this was a democratic president, joe biden has promised to continue to do all it takes to defend ukraine sovereignty as americans head to the polls in the mid term elections, us congress is expected to turn more republican. and the big question everybody is asking is, what impacts that will have on us assistance to ukraine and other allies? well, the answer depends on who you are. there will be enough support no matter who controls which house and given president biden still in the white hous

our correspondence stuff on siemens there in washington. so what are the results of the u. s. mid terms mean for the rest of the world here discussed that is the that we use treatment. national editor, richard walker. richard talked to us about the implications of these elections for the war in ukraine. the u. s. is one of ukraine's biggest factors, both military, militarily and financially, or will that change of republicans take control of just one of the houses of co? yeah, that's right terry. and this be a lot of concern about this particular ukraine, but also in europe as a whole. of what might change if there is a really significant sort of shift in the balance of power within washington because you're right, the u. s. has been the biggest single supporter of the ukrainians during this war. so far, 40 plus $1000000000.00 of, of funding is gone to military funding and other kinds of funding and to get that money, joe biden has to go to congress and get congressional approval for that. now that bunch of money is pretty much spent now is that the can looking ahead to ok,

using digital twins can make production quicker and more affordable. aaron frankl from siemens who produces the technical equipment and programs needed for this, sees it as a great opportunity. digital twins are important in remarkable because they give designers and engineers and manufacturers superpowers. ah, and, and these superpowers enable these, this community to, to be able to create a term, new ideas and new innovations and physical products faster than they can with conventional methods. thanks to the software. unlimited to morrow can now bring together the construction simulation and production processes in a digital environment. this way, individual prostheses can be customized undelivered in no time. this amazing story would not have been possible without a digital twin. now, that's what i called progress. the fact that digital models basically have no limit in size also fascinates me with enough computing power. anything could theoretically be copied digitally, really anything, even our planet. busy earth now has a twin, a digital twin. it's currently being developed in u. s. t

is struggling as, as growth in the world's 2nd largest economy. sputters german industrial giant, siemens doubled, it's net income in the 4th quarter, according to company reports ending its fiscal year with 4400000000 euros and profit strong growth in order in order to help the company raise its profit outlook for the current fiscal year. shares and the company jumped more than 7 percent at the beginning of trading. while workers at more than 100, starbucks stores in the u. s. have gone on strike. they say they're seeking better pay more consistent schedules and more staff for busy stores, stores and $25.00 states planned to take part organizers said it's their largest labor action since a campaign to unionize. starbucks began late last year, and it comes on red cup day one of the companies busiest days of the year, where customers get a free re usable coffee cup. well, for me on that, let's go to petty officer in new york. teddy, no pumpkin spice. lots for you today. what are these strikes about and why today? well, it is, as you said, the busiest day of the year for starbucks, but it a

earlier, i asked dw correspondence stuff on siemens. what's his stake in these elections for jo biden's presidency? short answer is yes sir. maybe you could come in the lame duck president, and there's nothing he could possibly do or bring through without excessively working with the other side, with the republicans in the house and the senate. if the republicans take both chambers of the congress here, then there is no democratic agenda. will bind agenda are going through the institutions relatively easy anymore. that is definitely the history. and that would mean that has of course, impact internationally. that means money. 8 deliveries for ukraine. democrats are spending very generously in the last few months by demonstration is the republicans. i've indicated that they wanna tone this back a little bit. so this could change. and of course, there's many, many other areas he in the united states, internally where republicans are ready to turn back the clock, so to speak, on measures the biden administration pushed in the last 2 years.

c o's from 8 firms including heavy weights like siemens bosh, and b s f. right? the letter saying not to decouple. the companies say it is right for germany to redefine this relationship with china, to it's increasingly assertive behavior and it's human rights issues, but insist germany needs to be in china to stay competitive. chinese investments in germany have been in focus lately as officials seek to balance strong business relationships with a need to avoid repeating mistakes made with russia. for more, let's bringing holger girls. he's the president of the keel institute for the world economy. welcome to the program. so.

and i to some of the other global business stories making news. german industrial giant, siemens reported doubling its earnings in the 4th quarter and ending its fiscal year with a 4400000000 euros and profit strong growth in order to help the company raise its profit. i'll look for the current fiscal year shares, and the company jumped by more than 7 percent at the beginning of trading. disney is buying the unfinished cruise ship global dream from the solvent german ship buyer and we've afton. the entertainment giant us at the $6000.00 passenger ship would be renamed and certain features, re imagined to fit into the brand of disney cruises. construction will be completed at the former m, b, f t. m shipyard in germany. it's that korea, more than $508000.00 students, are taking the annual 9 hour college entrance exam, the country as close as air space, and employ police to ensure silence for the test, which is crucial for securing spots at top universities. and is seen as the key to lucrative careers in the united states. lawmakers are asking for an investigation and possible break up of e

bucharest, including, in order to speed up the order and speed up the use of all companies - this is siemenstric and alstom, well, such large ones. no more than 15 secondly, for this period, to provide critical electricity infrastructure - these are diesel generators, large power, medium power, small power, power. caterpillar and so on then there are the european companies volvo. i think that in the near future we will have more supplies of diesel generators. it is clear that fuel and lubricants are needed for the operation of diesel generators, so i think that this issue is also being discussed so that we and the army are fully provided it is clear that the economy worked. well, the transport infrastructure. well , these diesel generators. well, the biggest help can really be air defense in order to protect all energy infrastructure facilities, that is, that. power plant, especially nuclear plants, although well, i already hope that there will be no missile attacks directly on our ukrainian nuclear plants, but they can, um, there will be attacks on high-voltage lines through which electrici

and papa key in the sway still been sla siemens had a lot of i mean the own now wash to says they had a kill with you. this up, but as he had said, he uncle more so definitely toriana enough color, the color this, you know, the severe camille noise will chill, cuz i would he be cool to buy for kicked in this thing? colorful, father amigos. in this, you know, you've been all will get a system. but all things me look at the month, it will say i get that anal will get, they will be in the when i somebody there he is going to celebrate it. i mean they, if daughter is causing little dylan norton was another last was want us eating while she was a little musket, almost a yellow old not about i'm yet with raines and torrential floods in sudan have killed at least a 100 people. tens of thousands of homes have been destroyed. the rainy season has been described by some as one of the worst they've ever seen. that downpours have affected nearly the whole country. jazeera is one of the states where the government has declared a disaster. dozens of villages have been submerged here since the begin

this was swamped . 21 months later, siemens had managed to convert it into a state of the art car manufacturing facility. today it's an efficient production line, complete with german machinery and well trained employees. churning out vietnamese, e, b, 's, and it's not restricted to for me, it is one half is not only building cars, but also building is go to us like this here. and there are so many suitors, if you look around here, unbelievable. but now back to the viet 8 way eagle eyed matters has picked out another floor. this one rule in design form follows function and to him. yeah, with this um do switches here where you know you needed when you start your drive and you needed when you finished your drive and in between, you don't need it so you could do something else with all the space here. like adding a few more buttons that drive is, might need regularly, instead of hiding those away in the touch screen. but nichols on the interior side on the outside, the vin fast is quite the looking at a chick come as no surprise then that the design come straight from to read courtesy of iconic de

so the same europe was against siemens supplying a turbine here.these are the same electrical wires, these are the very ones who put the 7s turbine at that time. no, he didn’t install it, rostec installed it, firstly, but siemens, but the turbine was semyon, was forbidden. she was not a siemens , she was produced in leningrad. in st. petersburg . so, at the power machines plant. i. well, if i tell you now how it is. i'm an energetic , i know these our nouveau riche snatched from the state. these two plants are power machines plant turbine shoulder blades. so, e. potan there with this anchor and sold them to siemens, because they themselves well, first with a muzzle, then, because they themselves did not want to do anything in mechanical engineering, they took it and say, we will produce according to our technologies. but we will say where it is possible to deliver, and where it is impossible, and they began to forbid us even on our territory, then they delivered it in the crimea. so in this sense, this incident is the most dangerous incident that c

to document the movements on the high seas. project partners include a wind energy subsidiary of siemens. the movements of the floating foundation may be small, but the wind turbine sits high up at around 100 meters and up their wind and waves exert extreme forces on the structure. your aunts are wonder for us and our turbine here. it's important that we track the movement in, thus via that we know the loads in the whole structure. we're glad mogley fossa does for you. we have to prepare for it now. so that we can make all the mistakes now from it via and learn as much as possible. a philo. yes. makin come on. this will feed remotely. her lan from the floating wind turbine then embarks on its maiden voyage. it will be towed from greener to the norwegian coast for testing. incidentally, future floating wind farms will also include a floating transformer station that will bundle the electricity generated and transmitted to shore via long cables. once on site, the ballast keels of the danish prototypes are lower to 60 meters to achieve even more stability. they are anchor to the sea bed wit

the 1st major western country to start investing their 19 eighties with big german companies like siemens and v. w. started investing very early, even before the american company started going in there. so these are very, very deep relationships. and you're not just going to be able to with withdraw overnight, much less, you know, at all to the degree. i think variable can other people with like it. in fact, mister bare book has suggested, well, you know, we should, we should put ethical concerns ahead of economic concerns, which i think is something that schultz is disabled. he's not willing to do because there are so many jobs. german jobs attached to this to this trade. and even though you know, it's also true, some people pointed out of the last few days that the, the, the trade with china economic relationship isn't growing anymore. but it's still quite, quite significant. and i think, you know, shows his actions here are really a recognition of just how important china remains, isn't there, isn't there a great danger in the fact that germany depends so much more on china than vice v