we'll look at how siemens energy loss, almost 3000000000 euros, and the latest quarter. it isn't out of the woods yet. i also want to show the convoluted and even controversial the shipping routes for greens coming out of ukraine are now raising prices and frustrations and brazil is set to host a summit around protecting the amazon rain forest. we'll look at how industrial pollution has it. one community in particular. hello and welcome to our show. i'm seeing beardsley in berlin. and we begin here in germany. we're one of the world's major energy firms. zeeman energy says it's rethinking it strategy for wind power. that after i watering result in the last quarter, a 2900000000 euro loss due in large part of problems with 2 turbine models. and that's going to cost savings energy, specifically a whopping $1600000000.00 euros just to repair and replace floss. and it's 4 x and 5 x on shore turbine models, both made by its spanish subsidiary, z means mesa. now that firm may, so it has been a problem, presume, is energy ever since the latter was spun off from industrial giant

now here's what siemens energy c o christian book told seat and b. c. you said that the loss was really a quality issue in terms of going to fast with new products into the market. all right, help us understand this better. i'm joined now by feel a deal. she's a fund manager and analyst when you're on investment, which is a major investor in siemens energy feel. welcome to the show. um, you know, investors knew that this bad news was coming. this was announced in june that there were these flaws with the turbines. was there anything in this earnings released today that really struck you despite the fact we already knew some of this a hi, steven, and thanks for having me. um, under normal circumstances, i would have had to potty today with the old income um that siemens uh, energy booked, as well as with a guest and po, a business. and we finally got this 1600000000 number on the table. finally, that we waited for a quite a while. um, but right now still a lot has to be done. um for a few minutes energy. um i was one of the investors asking for the take

or are there factors between vestas and siemens energy?ng us has a by raining -- by rating on the stock. what are you looking for for the numbers from vestas tomorrow? guest: it will be an important set of results. the thing we are waiting for is to have management views of what's happening on the quality side. we have seen what's happening at siemens energy, i think it's a different story at vestas but the shares have been dragged down by similar fields. we think they will probably come out of this relatively in better shape than siemens. guy: why the difference between the two businesses? presumably they are in the same business, but why such an obvious discrepancy between the two? guest: when siemens energy launched the five x since the beginning, we have heard of issues. they launched right before covert -- covid, they said they were having issues with plates forming crocs. they had to go back to r&d and change the layout. we are seeing now what's happening in the sector when you miss the launch of the platform. while they share some s

we got siemens earnings. it is a miss pretty much across-the-board, weighted down by china decline and wind turbine loss. third-quarter industrial business profit coming in at 2.7 5 billion euros, the estimate was 2.9 3 billion euros, net income at 1.2 8 billion, that is a miss for their third quarter. it was the digital industries unit in china that saw a drop. they are having trouble with their stake in siemens energy because siemens gamesa is having issues with their wind turbine unit. we will hear from siemens' ceo at 6:30 a.m. u.k. time. third-quarter operating profit at a 7% rise coming in at 3.7 billion euros. they are seeing net inflows into pimco, there asset manager, third-party net inflows hitting at 4 billion euros. when it comes to full year operating profit, the range they are saying is 13.2 billion to 15.2 billion, they are affirming their full year outlook. there had been expectation that potentially they would raise it. they have kept to that figure. they are seeing net inflows to allianz gi

let's me tell you more what is going on with siemens today.t reported a fall in the third quarter. the firm flagged weakness in the industries unit lowering the full-year sales outlook for the segment. c ceo roland busch spoke out. >> this was our assumption last time in the last quarter it did not happen with the chinese markets being down the domestic consumption and pri private consumption did not pick up it is low, indeed. this is impacting our industry business we had a strong order intake last quarter this is the reason why we have a slowdown faster than expected order intake revenue is still going we will see how this develops in the next few months. >> other companies that have reported today are rwe with the full-year outlook after the net income more than double compared to a year earlier. the company expects to report 3.3 and 3.8 billion euro thyssenkrupp is reporting better than expected quarterly earnings with the steel unit. overall, the industrial giant reported a 12% decline in third quarter sales. and recently spun-up hydrogen

. >>> and siemens has a net quarter loss the ceo tells cnbc it will take years to work through the challenges> keep in mind the charges are provisions for the future. we expect this over the next year to evolve and it will take us two-to-three years to work through this of >>> and berkshire jumps to $150 billion with warren buffett posting a 7% rise with chevron paying off for the oracle of omaha. >>> very warm welcome to "street signs" and special because it is the first time in over a month we're back together. >> we calculated it. five weeks we haven't done the show together. >> i missed you. i missed the show. >> it feels good >> with that, i guess we should talk about aramco. >> a hard pivot. let's get to it. the earnings do continue to roll in this time from aramco with 40% plunge in second quarter net profits with low oil prices with refining and chemical margins. dan has been pouring through the numbers. dan joins us now dan, it looks as aramco weathered the period better than the western peers. >> reporter: you are right great to see you both back together welcome back to your own pr

to europe , primarily to germany, including the nord stream, let's first recall the epic with the siemensbines, which suddenly for some reason began to fail and when the same germans pointed out to the russians that it is technically impossible for the turbines to fail one by one, this is a priori absurd , however, if gazprom insisted on its way until the supply of gas to the first furnace flow stopped, that is, in principle, the absurdity of this hmm version regarding the failure of the siemens turbines and the lack of readiness there, they say that germany contributed to their repair. well, it was obvious , and of course for the european companies of gazprom's partners, this version was not convincing, and therefore the version was also rejected force majeure, when was the last time they worked ? there is 1 minute left, but what are the consequences for ukraine if we assume that the german investigation will officially press charges against the citizens of ukraine who did it or against the general ukrainian who could have done it? well, so far, nothing it is indicated that they are read

china boosting lvmh, china hitting siemens. you can see the share price reaction and both of those stories. china as ever continues to be a large factor for your. lvmh is up and siemens is down by five. >> that is what we experience. manufacturing versus services. you go buy a bag. you don't spend money on manufacturing. s&p is up by .7%. we are fading the rally. we are up over one percentage point. the biggest drag on the s&p's luxury retail, with a capri for 1.5%. that is like michael kors. there was some turnaround problems. there are issues that have to be dealt with red also, this is an area of the consumer that seems to be the most wrapped right now. not super high and luxury. not discounts. the timing of all that is interesting. we will break that down. prude is up by -- down by 1% rid you have strikes happening in lng, and australia. the also have opec saying that they are looking at a 2 million barrel deficit because of the saudi cuts. you have to wonder, if oil stays supported over 80, will that if fact the inflation

the ceo of siemens energy.will bring you the latest on the new attacks on russia, ukraine and that is next, this is bloomberg. ♪ wow, you get to watch all your favorite stuff. it's to die for. and it's all right here. streaming was never this easy, you know. this is the way. you really went all out didn't you? um, it's called commitment. could you turn down the volume? here, you can try. get way more into what your into when you stream on the xfinity 10g network. >> good morning. this is bloomberg daybreak: europe. these are the stories that you're waking up to. that officials debate further rate hikes and of this week's inflation report. hostility with ukraine threaten russia's commodity exports. plus, israeli prime minister benjamin netanyahu tells bloomberg he will not pursue the judicial overhaul original planned by his government. >> i will still give it several months to get it under consensus. and just knock out any decision that the court makes. it has to be a balance. >> good morning and welcome to mon

1% same with ibex 35 in spain general positivity is flat in the ftse 100 in germany today, we saw siemens divesting in the energy. not doing well on that front managing to see a robust set of earnings despite that, down 5.5% for siemens. luxury front news. capri, owners of versace might get purchased. valued at $1.1 billion that has meant there is movement in the luxury counters this is a big gain lvmh and burberry to the gain. you see the positivity filter through. we are anticipating that number from the u.s. when it comes to inflation and could that lead the way when it comes to how the markets may trade not just today, but hit it off tomorrow dom. >> arabile gumede in london with the latest on the european trade. thank you. >>> speaking of europe, novo nordisk profit fell shy of estimates, but sales of the weight loss drug w wegovy jumps 5.p $5.5 billion guidance is increasing on the surge of the drugs and it expecting to see shortages for the drugs. let's talk more about novo and the booming market for weight loss and anti-obesity drugs with emily field at barclays. emily, novo and e

treasury yields tick lower as investors prepare for flight to safety. >>> shares in siemens health sink to the bottom of the stoxx 600 as diagnostics revenue takes a hit in the third quarter the company's cfo tells cnbc he's still confident despite some challenges. >> we saw some headwinds from foreign exchange over the year and we guided for this already in the last quarter. and because of this, we see us very, very well underway to get to the lower end of the original guidance. >> four charges, six alleged co-conspirators. former president donald trump indicted for attempting to overturn the 2020 election an conspiracy to defraud the u.s. >>> we're about an hour and a half into the trading session. stoxx is down 6.7% we're dealing with a soft handover from asia and part of it is due to fitch's surprise downgrade from aaa every major region in europe is trading lower. let's split it out by the boards ftse 100 down by nearly 8% leading the markets. the cac 40 down 1.5% 1% lower for the spanish market. really a broad-based indiscriminate selling taking place. i know a lot of bearish inve

well, it could help siemens energy loss, almost 3000000000 euros in the latest quarter. it isn't out of the woods yet. also on our shoulder convoluted and even controversial, the shipping routes for greens coming out of ukraine are now raising prices and frustrations and brazil is set to host to summit, around protecting the amazon rain forest. we'll look at how industrial pollution has it one community in particular. hello and welcome to our show. i'm seeing busy in berlin and we'd be getting here in germany. we're one of the world's major energy firms. zimmerman's energy says it's rethinking it strategy for wind power. that after and i watering result in the last quarter, a 2900000000 euro loss due in large part to problems with 2 turbine models. and that's going to cost savings energy, specifically a whopping $1600000000.00 euros just to repair and replace flaws. and it's 4 x and 5 x on shore turbine models, both made by its spanish subsidiary demons, gum mesa. now that firm gummies that has been a problem for the.

the german firm siemens energy says it expects to lose nearly $5 billion this year because of problemsne division. that's despite what the company said was a sharp growth in orders which comes as europe continues to try to make more of its energy from renewable sources. the chief executive said that wrinkles had been found in some rotor blades, which are made of more than 150 layers of glass fibres. the head of public affairs at europe's biggest bank hsbc has apologised after accusing the british government of being "weak" for complying with us demands to cut back business dealings with china. the uk—based bank makes much of its profit in china and has been trying to expand there in recent years. the bank has subsquently said that sir sherard cowper—coles made the comments "at a private roundtable discussion and shared his personal views", and that they do not reflect those of the bank. the company behind the barbie movie says it's taken more than $1bn in ticket sales in its first 17 days. it means greta gerwig has become the first woman to reach the milestone as a solo director. europ

it will be fine, but the peugeot sultan, like germany's siemens company , or name many, america leftn, where are they all? the company had sold 123 planes to iran. now if it gets better , it will be replaced by another one, the arrest of other companies, and other political and communication issues. it has been established with mr. shakri, an expert in international economics. mr. shakri, hello to you. i am a large part of these large countries that are members of brics, the five main countries, and i would like to tell you how effective the mobile commerce of the 5 countries can be in the relations between these countries, and if we want a more realistic look let's have a look at the events that will happen after iran's membership. allah, the merciful , the most merciful. we should take the trouble to have a stage in a new and different stage and take advantage of it. the possibility of economic relations with iran was unfortunately not achieved. but we have to learn news about cooperate, how did this happen, if god wills, for example, look more strongly and investigate how in this

of this train, the russian engine manufacturer used to install a traction system manufactured by siemens the germans refused to supply equipment , painstaking work began to replace foreign ones, components on the drawings to the finished machine took about 2.5 years. in parallel, the entire system was improved. here they made an automatic parking brake. here they have implemented a system at lokomotiv that can bring connected trains from one control station here they have done, uh, very deep diagnostics. the bots of electrical pneumatic mechanical equipment, that is, well, there are many additional features that were not implemented on our previous locomotives , the train passed the certification this month. a it means that it will soon appear on the railways. the length of the locomotive was limited; we had a standard locomotive of 51 m became 48 m, and the traction force, and we implemented the same traction force on russian-made traction equipment that was implemented on locomotives, e.g. two out of 10 foreign traction drive. unique technologies from russian manufacturers have become

surely was so tiny a we english to the . 2 the . 2 the, [000:00:00;00] the, the unfinished dentist, siemens domains. as danny and i them renew for 30. nothing done. a good number. 16. they live now middle, much the same fee. d 9. pay the whole day of, of, of this month. if the a minute, let me try one more. sure to give you to get other i've been hanging on that get sleeping on the head cookies. i'm headed to another piano. they said, i'm going to be on the banana, putting the chromebooks up by having them and have him to come see him. but we have the papers fund on one, but i'm on another point. i had a quote on um, shipping the motion and then a little of the since the, oh the, i mean i gave you a bunch of comfortable as well that i get ready to go. well that i'm in the, the, the mean. so i know all the of the . c the. c the . 6 2 6 6 the public to sit in, you said that was the most of that gets uta, but then the clock in my head as a note that i live in a, in a i look a beautiful include for include and black lab. well yeah, luck of this to that of the most of the sit. yeah. like the the

the german firm siemens energy says it expects to lose nearly $5bn this year, because of problems at. that's despite what the company said was a sharp growth in orders, which comes as europe continues to try to make more of its energy from renewable sources. the chief executive said that wrinkles had been found in some rotor blades, which are made of more than 150 layers of glass fibres. the uk—based mining giant bhp has won an important legal battle over a dam disaster which has been called the worst in brazil's history. 19 people were killed when the fundao dam burst in 2015 and destroyed hundreds of homes. the court ruling in london means that brazilian iron ore producer vale will have to share responsiblity if the miners lose a $a6 billion compensation lawsuit. the company behind the barbie movie says it's taken more than $1 billion in global ticket sales in its first 17 days. it means greta gerwig has become the first woman to reach the milestone as a solo director. a top warner bros executive said that the success with long lines in cinemas and repeat viewings "prove that movie

on the earnings front, siemens stating they need to slowdown the amount of innovations they are bringing entity and really denting a lot of the bottom line overall, as i said, downward trade on the european markets. following on from the number last week out of the jobs numbers from the united states and now the nikkei going up .20%. the rest of the asia trading picture is negative. more stimulus anticipated from the market as i spoke about earnings, early this morning, we saw saudi aramco post 40% plunge in second quarter net profit with lower oil prices and thinner refining margining coming into play for this one we are seeing that dip off in wti as well as brent crude oil impacted the profits significantly. the stock is down .50% in the trading picture. things not necessarily doing too well for what is a large company. spending program and trying to bring out the largest spending program for aramco quickly, this is wti and brent crude dipped off significantly it is beginning to pick up as well going into august and the rest of the year that's the picture in europe frank. >> arabile gu

siemens is reporting tomorrow. persimmon will be interesting.g sector will be interesting for the story of what is happening with house prices, mixed results from u.k. house builders. we are seeing mortgage rates coming down. will that provide incentive for people to buy? it has been a slow burning story, but maybe we start to get some traction. we will get banks -- back to talking about the luxury sector. watches and switzerland is an interesting story. rolex exposed to the u.s. market in a big way but it may give us indications as to what is happening with the luxury sector more broadly. alix: you have sales and revenue numbers out. joining us now, what are you looking for tomorrow? >> watches of switzerland is the biggest retailer of rolex and what we have seen in the past few years is demand for those products has been elevated. last month, for the full year earnings, it showed demand has remained elevated. analysts point to the fact that most of the products they sell are in short supply. last month, they said the guidance has remained unch

siemens out with numbers, what's going on there. in the luxury sector hugo boss out with earnings., that's good be worth watching. taylor will be out with numbers. taylor comes out on the day before we are going to see the bank of england raising by 25 basis points or 50 basis points. the macro story is important. the housing market in the u.k. is already rolling over in the nationwide data today but we will see taylor coming out tomorrow. let's see market expectations versus reality look like. alix: i'm waiting for the housing market to roll out of bed. let's stick to the earnings here in the u.k. housing market. the hsbc ceo joined bloomberg earlier. truly waiting for to dampen the sector. >> our ambition is to try and make sure rates are as reasonable as possible to help customers navigate what is a challenging environment of higher rates in the market plus higher inflation. we will move down as quickly as possible. that was our decision, it will, i can't predict what the yield curve necessarily will do. there is the prospect of more interest rate rises in the future in order to

. >> what you make of this siemens energy at $2.4 billion charge on the wind turbines and slowing the new products, tell me if i'm wrong is seems like the green agenda is very expensive and beginning to be rolled back, what do you say. >> i hope it is. how about the story last week in the wall street journal the first solar, are you ready for this the first solar over the next ten years is going to get 10 billion, $10 billion in taxpayer money and keeping solar and wind afloat that were dumping massive amounts billions and billions of tax dollars behind these things i'm in favor of a free market in energy, if wind and solar can cut it and make a competitive market against gas and coal and nuclear power, do it, the only way that their surviving of multi billion in spending bills pumping tax dollars into those things, they're not efficient in a lot of areas and they're not scalable to provide 70 or 80% of her energy, we cannot do that. we need our fossil fuels. >> we do, what a mess, thank you, see you again soon. >> you're absolutely right about the women's soccer team it's such a disg

. >> elizabeth siemens saw her mother's face in the footage. >> it was just so surprise so amazing to actually recognized mother i had not expected that is just >> wonder, >> really a wonderful for seaman, it's a powerful surprise. and an important reminder, 8 decades later. >> people do need to remember the atrocities that there. not with any sense of we them or a full nose or anything like that. but to do the can to relate well, to other people who are different done, who care about. humanity one-on-one convert everyone with a sense love them so that patients and not >> trains, if you look at photographs of trains in the holocaust, most of them, if not all of them lead to death. this one leads to life for news nation. rich mchugh. >> just there. coming up, the pretty festa going on in the south bay. why polit >> well, from stumping to stopping at the italian family festa in san jose, 3 south bay politicians have a little friendly competition to see who could stop the most grape juice and san jose mayor matt mahan edged out his namely santa clara mayor lisa gilmore and mayor carmen m

ford and siemens reporting heavy losses. what do you think, keen?independ voters and republicans and democrats have figured out transition to green will take longer than originallally proposed by any administration and these bankruptcy ss --bankruptcies ind and solar are costing way more. what's the narrative now? this will be very much debated in the presidential election is what is the transition really look like? how much more do we have to invest in hydrocarbons because i'd suggest we have to do a lot more in refineries a lot more in pipeline and bringing oil to places where we're secure and independent and probably takes us from 12 million-barrel as day up to 18. that doesn't fit into the current narrative of green for anybody, but it is a reality that voters are figuring out after watching what happened in germany and what could happen next year in ukraine and all the rest of that. security of energy matters. i think this is the beginning of a very healthy debate. elizabeth: yeah, and, tammy, you need all oil and gas, fossil fuel powered elect

of the russian federation of the latest gas turbines, which will be replaced by foreign companies siemens and general electric that have left the russian market. in addition, vtb signed a cooperation agreement with the scientific and technical center for electronic warfare and the production association of high-precision systems. they produce innovative products. called to replace the imports. ensure russia's technological sovereignty the ministry of defense today released footage of russian servicemen inspecting the bulk carrier sucro-window. in the black sea, the ship sailed under the flag of the island pacific state. palau to the ukrainian port of izmail the crew did not stop at the request of the russian patrol ship. as a result, our fighters boarded the cargo ship from a helicopter. well, we began to check the premises for the presence of prohibited goods. the car is standing, as noted in the ministry of defense, the inspection was carried out professionally in accordance with international agreements, the russian military personnel drew up an inspection report, after which the russi

on his pull the wills top, siemens satisfies produce an instant classic. and since then i've seen of a joke, event chipped paint chilly, getting the better of call us out to the long 3 set final install history. the it is $1300.00 gmc, we start with an escalating situation and the occupied westbank is really settlers of a tank palestinians after and is really woman was shot dead. the attack happen near the city of hebron is really media say that a palestinian suspect opened fire at a passing vehicle. well, we've got to correspondence covering this forest. harry faucet isn't west jerusalem 1st though. let's go to the abraham in ramallah, near to run us through. what has been happening today is ready for says ours to looking for the suspect, who has shopped, a woman, her daughter, and another man, as they were driving by near and in league. and it's really such a movement near hopper on, according to sources. the 40 year old woman who died has hitched a ride with her daughter with a driver on the way this driver has also been taken to the hospital. and he is

on, they made a big turbine, and, accordingly, it’s difficult to replace everything western , from siemens difficult to be afraid of the lack of a service mechanism and are afraid of guaranteed demand in order to completely switch to domestic ones. scaling the ability to support those who will acquire these complex technologies. russia is among the top ten leading countries in the use of artificial intelligence , reports the head of minek. however, this leadership requires active action and the creation of additional infrastructure. you know that work is underway to update the national strategy for the development of artificial intelligence. they could say in more detail what you want to change or supplement there, what all this requires, on the one hand, fundamentally new computing power. a and for this we need to seriously support our data centers and the creation and creation of new and existing and this. this also applies to the construction of this kind here, and the centers and the importation of equipment and the design of their equipment and the solution of issues with electricity,

it was not surviving in any animal hosts that could re-infect humans the way yellow fever reinfect siemens. polio, we have almost eradicated polio. but we have never quite gotten there. it is a virus, it circulates only in humans. we have not managed to get those last few populations vaccinated. this was the latest i have heard, there was a continuation of sporadic polio cases -- i want any of these countries to forgive me if my memory is wrong. i think nigeria, pakistan and afghanistan. if we could get everybody vaccinated, that virus would be gone. host: where did smallpox come from, how did they develop? guest: smallpox probably came from animals, probably related to cowpox. that still circulates. herbivores. hoofed herbivores. such as gazelles, various kinds of antelope in africa. big antelope. host: wouldn't that make it zoonotic? guest: it has been in humans long enough it has evolved to be distinct. that is why i said there is a judgment call, a quantitative distinction, rather than a qualitative distinction. how long has it been in humans? long enough to look like a unique virus? s