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(Bloomberg) -- Siemens AG is about to let investors make pure-play bets on a company whose technology is behind roughly one-sixth of the world’s electricity.Monday’s listing of Siemens Energy AG marks the next step in the unwinding of a German conglomerate making a vast array of goods that spans medical scanners, locomotives and gas turbines into separate companies better suited to confront their own unique challenges. Shares fell as they started trading on Monday, down 9.3% at 9:12 a.m. in Frankfurt after opening at 22.01 euros.There will be no shortage of hindrances ahead for the extraction, processing, and transportation of oil and gas, as well as the generation, transmission and distribution of power and heat that Siemens Energy handles. Efforts to curb power-plant emissions are likely to constrain the company’s longer-term prospects.“Siemens Energy’s spinoff showcases a gas-turbine technology whose growth has been stunted by climate change, though gas should remain a...
Shares of Boeing rose 6.8% on Friday as the US Federal Aviation Administration (FAA) Chief is about to pilot the 737 MAX on a test flight this week, Reuters reported. The move is seen as an important milestone to get the troubled aircraft airborne again.According to the Reuters report, the FAA has informed US lawmakers that the agency’s Chief Administrator Steve Dickson and Deputy Administrator Dan Elwell "will be in Seattle next week to take the recommended training." Notably, Dickson had previously said that he would not give approval until he flew the MAX aircraft himself. (See BA stock analysis on TipRanks).Boeing’s (BA) 737 MAX planes have been grounded worldwide since mid-March 2019 following two fatal crashes within six months, which took 346 lives. Boeing needs regulatory approvals for the changes it has made to address the flaws that caused the accidents.On Sept. 20, Goldman Sachs analyst Noah Poponak added the stock to...
Japan is the world leader in battery innovations holding more than one-third of the total patents in this space, according to a joint study conducted by the European Patent Office and the International Energy Agency.What Happened: The study found that 2,339 Japanese applications for international patents were published in 2018, the highest of any country, the Financial Times reported Sunday. South Korea holds the second spot with 1,230 patents. The report stated that almost 45% of battery cell patents in 2018 were related to lithium-ion cells used in smart devices. Trailing Japan and South Korea, the 38 countries that are a part of the European Patent Convention rank third followed by China in the fourth sport and the U.S. ranking fifth.Samsung Electronics Co Ltd (OTC: SSNLF) topped the leaderboard with 4,787 patent filings between 2000 to 2018, followed by Panasonic Corporation (OTC: PCRFY) with 4,046.Why Does It Matter: Designing new and...
Reuters reported on Sunday, citing sources, that ArcelorMittal was in talks to merge its U.S. operations with Cleveland-Cliffs. ArcelorMittal said last year it was aiming to offload $2 billion of assets by the middle of 2021 to reduce its debt....
Sep.28 -- Ram Parameswaran, founder and portfolio manager at Octahedron Capital Management, discusses the sale of ByteDance Ltd.’s U.S. operation to Oracle Corp. and Walmart Inc. and a federal judge blocking President Donald Trump’s ban on TikTok. He speaks on “Bloomberg Markets: Asia.”...
Sep.28 -- Manny Maceda, worldwide managing partner at Bain & Co., discusses the company’s report on the lessons learned from the pandemic and the future of work post-coronavirus. He speaks on “Bloomberg Markets: Asia.”...
(Bloomberg) -- Semiconductor Manufacturing International Corp. retreated to a four-month low in Hong Kong after the U.S. imposed export restrictions on China’s largest chipmaker.The shares slumped as much as 7.9% on Monday, adding to their 25% loss for the month. Also listed in Shanghai, SMIC’s stock there retreated as much as 6.6% to the lowest level since its July debut. U.S. firms must now apply for a license to export certain products to the chipmaker, the Commerce Dept. said in a letter dated Sept. 25, reviewed by Bloomberg News. SMIC and its subsidiaries present “an unacceptable risk of diversion to a military end use,” the department’s Bureau of Industry and Security wrote.Read more: U.S. Imposes Restrictions on Exports to China’s Top ChipmakerThe U.S. stopped short of placing SMIC on the so-called entity list, which means the restrictions are not yet as severe as those imposed on China’s Huawei Technologies Co. Still,...
