Siemens Energy share sell-off deepens, takes market value loss to $8 billion
Siemens Energy (ENR1n.DE), shares fell for a second consecutive session on Monday, hit by a raft of target price cuts and rating downgrades in the wake of deeper-than-expected problems at its wind turbine division that emerged last week. It share price was down 3.3% at 1252 GMT, at the bottom of Germany’s blue-chip DAX (.GDAXI), o index, taking the group’s loss […]
Strikes loom as 200,000 German bank staff fight for hefty pay rise
Hundreds of thousands of bank employees in Europe’s largest economy are fighting for pay increases of up to 16% to cope with rising living costs and unions are warning of possible strikes. Pay negotiations for Germany’s public and private bank employees follow a spike in costs that has hit ordinary workers hard, while the banks […]