Advertisement
UK markets close in 40 minutes

  • FTSE 100

    8,440.05
    +58.70 (+0.70%)
     

  • FTSE 250

    20,645.26
    +113.96 (+0.56%)
     

  • AIM

    790.15
    +6.45 (+0.82%)
     

  • GBP/EUR

    1.1620
    +0.0009 (+0.08%)
     

  • GBP/USD

    1.2513
    -0.0011 (-0.09%)
     

  • Bitcoin GBP

    49,388.87
    +313.79 (+0.64%)
     

  • CMC Crypto 200

    1,285.60
    -72.41 (-5.33%)
     

  • S&P 500

    5,223.63
    +9.55 (+0.18%)
     

  • DOW

    39,511.46
    +123.70 (+0.31%)
     

  • CRUDE OIL

    79.44
    +0.18 (+0.23%)
     

  • GOLD FUTURES

    2,370.80
    +30.50 (+1.30%)
     

  • NIKKEI 225

    38,229.11
    +155.13 (+0.41%)
     

  • HANG SENG

    18,963.68
    +425.87 (+2.30%)
     

  • DAX

    18,768.05
    +81.45 (+0.44%)
     

  • CAC 40

    8,228.14
    +40.49 (+0.49%)
     
MONEY:

Best savings accounts that offer above inflation rates

How to earn the most interest on your savings

Siemens CEO sees no future for old-style conglomerates

Reuters

FRANKFURT (Reuters) - Siemens (SIEGn.DE) sees no future for old-school conglomerates, its chief executive said on Thursday as the German industrial group prepares for a year of change.

"We have understood that conglomerates of the old-fashioned kind have no future," Joe Kaeser told a news conference after the company reported a 10 percent drop in fourth-quarter industrial profit.

Siemens is preparing to list its 40 billion-euro (35.34 billion pounds) healthcare business, has put its wind-power business into a joint venture and is preparing to do the same with its rail business.

(Reporting by Georgina Prodhan; Editing by Maria Sheahan)