Siemens AG

Siemens Energy AG will cut roughly a sixth of workers from its gas and power division in the latest sign that the worldwide shift to green energy is upending the fossil-fuel businesses.

German President Frank-Walter Steinmeier said Chancellor Angela Merkel’s government is right to act against what he called unacceptable Turkish policies under President Recep Tayyip Erdogan, who he said seeks to quench the country’s opposition.

Germany and China signed a raft of key economic deals as the leaders of the both countries pledged to carry bilateral ties to a new phase in a meeting in Berlin ahead of the G-20 summit. 

Brazil's Petrobras may need to pay record penalties of $1.6 billion or more to settle U.S. criminal and civil probes into its role in a corruption scandal, a person recently briefed by the company's legal advisors told Reuters. 

Siemens AG “went to town” on Wednesday by winning an eight-billion-euro order by Egypt to build gas and wind power plants in the country, called the biggest single order in the German multinational’s history.
The announcement came as Egyptian President Abdel Fattah Al-Sisi was on an official visit to Germany.

Finance Minister Yanis Varoufakis underlined the political, moral and legal commitment of the Radical Left Coalition (SYRIZA) government to shed light on the Siemens scandal in a document he submitted to Greek Parliament. The document was submitted in response to a question submitted by Independent Greeks (ANEL) deputy Nikos Nikolopoulos regarding the out-of-court settlement with Siemens.

A total of 64 people were referred to trial by the Judicial Council of the Court of Appeal for their alleged participation in the corruptions and bribery scandal that broke out in Greece almost seven years ago, over deals between Siemens AG and Greek state-owned telecommunications company, OTE.

Ex-Siemens chief Heinz-Joachim Neuburger, aged 62, was found dead. Reports say that he committed suicide. The timing of his death following the meeting between Finance Minister Yanis Varoufakis and his German counterpart Wolfgang Schauble is seen as a point of interest. During this meeting, a Greek journalist dredged up the bribery scandal again in  a question.

By Stefan Riecher

The euro-area unemployment rate was unchanged in May as the currency bloc struggled to shake off the legacy of the debt crisis.

Germany's concern Siemens is to provide the electrical systems and control and measurement apparatus for the offshore section of the South Stream.