Europe's largest equipment manufacturer, the German concern Siemens has reached an agreement with the unions on the reduction of 7,000 jobs. The concern reported on the harmonization of cost saving measures for the units “Energy and Gas Production” and “Continuous Production and Drives”. In connection with the sanctions imposed by the US and EU against Russia, Siemens plans to restructure, abandoning plans to develop a machine-building business in Russia and selling large volumes of turbines for the modernization of Russian power plants. The company sells a turbine manufacturing plant in Leipzig.
Dollar hits 1-year high against yen as inflation fears boost yields09.03.2021
Dollar hits multi-month highs against peers over yields, recovery expectations04.03.2021
Dollar hits seven-month high against yen ahead of Powell speech02.03.2021
Dollar firms against low-yielders, risk currencies fall