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☆ A look at the true nature of the Chinese cyber threat inside the nation's biggest ports
▼ + stars: | 2024-03-13 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +13 min

But the Biden administration, lawmakers and ports management continue to differ in their views of the true nature of the threat. Kurt Fredrickson, a Coast Guard spokesman, told CNBC via email that even if the software is not Chinese, all software has vulnerabilities, regardless of origin. "Software is everywhere," Gene Seroka, executive director of the LA port, told CNBC in a recent interview at the TPM conference. They warn the crane software concerns are part of a much larger societal risk. He added that regardless of the origin of the crane software and the origin of a crane's manufacturing, there are ways to mitigate cyber risk.

Persons: Biden, Jay Vann, Robert Murray, it's, Kurt Fredrickson, Murray, Carlos Gimenez, Melanie Stambaugh, Greg Ehrie, Doug Vogt, Vogt, Mario Cordero, Noel Hacegaba, Cordero, Gene Seroka, Lucian Niemeyer, Trump, Niemeyer Organizations: CNBC, ABB, Germany's Siemens, Counterterrorism, Law, Intelligence, Homeland Security, U.S . Coast Guard Cyber Command, Biden Administration, People's, Capitol, National Association of Waterfront Employers, Coast Guard, Transportation, Maritime Security, of South Carolina, Northwest Seaport Alliance, USCG, American Association of Port Authorities, New Jersey Port Authority, Siemens, New, Port, Biden, North Carolina Ports, ZPMC, NC, United States Coast Guard, Samsung, U.S . Department of Homeland Security, DHS, U.S . Coast Guard, Security, Defense for Energy, National Security, Management, Maritime Transportation, Joint Force, MTS, Readiness Locations: China, Swiss, People's Republic of China, U.S, of South, China . Port of Long Beach, Tacoma, Seattle, York, New Jersey, New York, Port of New Orleans, of Long Beach, Port of Long, Port of Los Angeles, Port, Oakland, Georgia, Finland, Japan, Taiwan, Europe, Shanghai

☆ Engineering Group ABB unveils higher sales and profitability targets
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +2 min

The logo of ABB is seen at an office building in Zurich, Switzerland September 10, 2020. The goals, announced ahead of ABB's investor day in Italy, were an upgrade from the previous annual revenue growth target of 4% to 7%. Most of the sales will come from internal growth, ABB said, with an expected five to seven percentage points of extra revenue, while an additional one to two percentage points is expected from acquisitions. ABB, which supplies industry and transportation networks with robots, electrification equipment and motors, also raised its core profitability target to a range of 16% to 19%. The International Monetary Fund recently downgraded its forecast for global growth for next year, with advanced economies expected to significantly slow as interest rates rise.

Persons: Arnd, France's Schneider, Bjorn Rosengren, John Revill, Tom Hogue, Jacqueline Wong Organizations: ABB, REUTERS, Rights, Germany's Siemens, Monetary Fund, Thomson Locations: Zurich, Switzerland, Swiss, Italy, Frosinone

☆ Siemens Energy shares down 11% as investor day underwhelms
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +1 min

Miniatures of windmill, solar panel and electric pole are seen in front of Siemens Energy logo in this illustration taken January 17, 2023. REUTERS/Dado Ruvic/File Photo Acquire Licensing RightsMILAN, Nov 21 (Reuters) - Germany's Siemens Energy (ENR1n.DE) shares turned sharply lower on Tuesday to fall as much as 11%, with traders citing profit taking as the company held its capital markets day (CMD). The shares have risen 80% from October's record low after the group said it was in talks with the German government about state guarantees following big setbacks at its wind unit, Siemens Gamesa. On Tuesday, Siemens Energy said Siemens Gamesa plans to cut costs by around 400 million euros ($436.28 million). ($1 = 0.9168 euros)Reporting by Danilo Masoni; Editing by Amanda CooperOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado, Danilo Masoni, Amanda Cooper Organizations: Siemens Energy, REUTERS, Germany's Siemens Energy, CMD, Siemens, Thomson Locations: Frankfurt

☆ ABB flags slowdown in fourth-quarter revenue, shares slide
▼ + stars: | 2023-10-18 | by ( Noele Illien | ) www.reuters.com time to read: +2 min

The logo of Swiss power technology and automation group ABB is seen during the company's annual news conference in Zurich, Switzerland February 28, 2019. ABB said it anticipated low- to mid-single digit comparable revenue growth in the fourth quarter after reporting a comparable 11% increase in the third quarter. "Orders in China declined at a low single-digit comparable growth rate particularly hampered by weakness in robotics and construction demand," said Chief Executive Bjorn Rosengren in a statement. For the full year 2023, the group said it expected comparable revenue growth to be in the low double-digit percentage range, and an operational margin to be in the range of 16.5% to 17.0%. Previously it had said it expected revenue growth of at least 10% and an operational margin above 16%.

Persons: Arnd, France's Schneider, ABB's, Bjorn Rosengren, Noele Illien, Rachel More, Tomasz Janowski Organizations: ABB, REUTERS, Rights, Germany's Siemens, Thomson Locations: Swiss, Zurich, Switzerland, China, United States, India, Asia, Europe

☆ China, Airbus among potential losers from boosted US-Vietnam ties
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +5 min

U.S. President Joe Biden attends a meeting with Vietnam's Communist Party General Secretary Nguyen Phu Trong, at the Communist Party of Vietnam Headquarters in Hanoi, Vietnam, September 10, 2023. But Washington's elevation to the same tier as Beijing in Vietnam's ranking will inevitably have an impact on China. The White House had no new arms deals to announce, but the new ties may facilitate future supplies from the U.S. or its partners. That would inevitably reduce Vietnam's reliance on Russian gear, although Hanoi is currently negotiating a new possible arms deal with Moscow. "We do not have any comment on a decision that does not involve Airbus," an Airbus spokesperson said.

Persons: Joe Biden, Nguyen Phu Trong, Evelyn Hockstein, Mao Ning, Joe Biden's, Biden, Carolyn Nash, Fluence, Germany's, Francesco Guarascio, Tim Hepher, Jamie Freed Organizations: Vietnam's Communist Party General, Communist Party of, REUTERS, Washington, White, AIRBUS, U.S, planemaker Boeing, Vietnam Airlines, Airbus, Boeing, Amnesty International, Vietnam, Communist Party, Human Rights Watch, INDIA Washington, Nvidia, Microsoft, AES, SIEMENS, AMI, Honeywell, Nasdaq, Germany's Siemens, Siemens, Thomson Locations: Communist Party of Vietnam, Hanoi, Vietnam, United States, Washington, CHINA Vietnam, Beijing, China, Vietnam's, RUSSIA Vietnam, Russia, U.S, Moscow, Hanoi , U.S, Asia, MALAYSIA, INDIA, Malaysia, India, Paris

STEEP GROWTH, EVERYWHEREAsia dominates the global wind power market, accounting for just over 47% of the worldwide capacity growth in 2022, according to Ember. Annual wind power generation capacity growth by regionOutside of Asia, Europe was the fastest growing region in terms of wind capacity in 2022, where installed capacity expanded by close to 20 GW, or by 8.4%. North America was the next largest wind capacity developer, with 8.84 GW, followed by Latin America, which expanded capacity by 4.36 GW. WIND GROWTH MORE BALANCED THAN SOLARWith just over half of all wind capacity growth occurring outside of Asia in 2022, global wind turbine producers and installation firms have had a larger share of international opportunities than their counterparts in the solar business. In combination with continued strong demand for wind power supply capacity and substantially cheaper supply chain flows, the expected improvements in each firms' wind segment performance should also yield improvements in future financial metrics.

Persons: gigawatts, Vestas, Gavin Maguire, Kim Coghill Organizations: Germany's Siemens Energy, Electric Co, Science & Technology, Siemens, GE, Reuters, Thomson Locations: LITTLETON , Colorado, United States, Danish, Xinjiang, Asia, Ember, China, Europe, North America, America, Africa, Oceania, Freightos

☆ China's Huawei makes breakthrough in design tools for 14nm chips and above - media
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Wolfgang Rattay/File PhotoSHENZHEN, China, March 24 - Huawei Technologies Co Ltd (HWT.UL) has made breakthroughs in electronic design automation (EDA) tools for chips produced at and above 14-nanometre technology, Caijing financial news magazine reported on Friday, citing a speech by a senior Huawei executive. Huawei will complete testing on the tools this year, rotating chairman Xu Zhijun said in a speech on Feb 28., Caijing reported. Huawei has developed 78 tools related to chip hardware and software, the report added. Chip design companies use EDA software to produce the blueprints for chips before they are mass manufactured at fabs. China is home to a handful of domestic EDA software makers, but experts do not consider them globally competitive.

☆ Huawei makes breakthroughs in design tools for 14nm chips -media
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: +2 min

The announcement comes as Huawei and other Chinese technology companies rush to localise their supply chains in the face of mounting U.S. sanctions. According to a transcript of Xu's remarks published by Caijing, Huawei cooperated with domestic EDA companies to create the software, "basically realising the localisation of EDA tools above 14nm." Chip design companies use EDA software to produce the blueprints for chips before they are mass manufactured at fabs. China is home to a handful of domestic EDA software makers, but experts do not consider them globally competitive. All three overseas EDA companies fell subject to Washington's sanctions against Huawei in 2020.

☆ Factbox: Potential winners and losers from the new U.S. EV charging standards
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +5 min

EV CHARGING COMPANIES: Many, including Volkswagen's (VOWG_p.DE) Electrify America, ChargePoint(CHPT.N) and EVGo (EVGO.O), will accelerate the rollout of chargers due to the federal funding. U.S. EV AUTO SECTOR: The rollout of more charging stations will encourage EV adoption in the United States. INTERSTATE HIGHWAY REST STOPS: They could see an influx of investment as companies establish charging stations along heavily traveled routes. TESLA: Under the new charging standards, the White House said EV market leader Tesla (TSLA.O) has agreed to open part of its U.S. charging network to EVs made by rivals. EV CHARGING COMPANIES: While the charging companies get financial support in their expansion efforts, only a handful of the dozen who commented to the Biden administration ahead of Wednesday's announcement said that they could meet the "Buy American" standards under the proposed timelines.

☆ Morning Bid: Corporate scatter
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +5 min

A look at the day ahead in U.S. and global markets from Mike Dolan. A hail of mega corporate updates distracted stock markets from a confusing macro picture - but offers little more clarity with scattergun fortunes and ambiguous readouts for the wider economy. The flub fed worries that the Google parent is losing ground to rival Microsoft (MSFT.O) in the renewed craze around artificial intelligence. European shares touched a fresh nine-month high on Thursday as Germany's Siemens and UK's AstraZeneca boosted earnings euphoria, while Britain's bank, commodity and pharma heavy FTSE100 hit another record high. Norway's $1.35 trillion sovereign wealth fund said it had recently divested virtually all its remaining shares in the Adani group.

☆ European shares hit fresh nine-month high on earnings boost
▼ + stars: | 2023-02-09 | by ( Ankika Biswas | ) www.reuters.com time to read: +3 min

The pan-European STOXX 600 (.STOXX) was up 0.8% at 0920 GMT, extending gains for a third straight session. Shares of Sweco AB (SWECb.ST), a Swedish construction and engineering company, jumped 11% to top the STOXX 600 following its upbeat fourth-quarter earnings. An over 5% gain in AstraZeneca (AZN.L) on 2023 earnings and revenue growth forecast boosted the healthcare sub-index (.SXDP). Of the 93 STOXX 600 companies that have reported earnings so far, more than half have beaten market expectations, Refinitiv data showed on Tuesday. Signs of economic resilience and better-than-feared corporate earnings have helped European stocks outperform their U.S. counterparts so far this year.

☆ Take Five: The Bottom Line
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +5 min

Australia and India's central banks are navigating the shifting sands of data and markets are digesting what the world's top central banks have to offer. The question is what impact this will have on bonds and stocks markets after a stellar January? Reuters Graphics4/ RUN RALLY, RUNIt was a stellar start to 2023 for markets - stocks and government bonds enjoyed one of the best Januaries on record, fuelled by optimism that the worst is over. That's not good for a central bank, nor is the idea that their communication is ineffective. Policy rate hikes and cuts by central banks overseeing the 10 most traded currencies.

☆ ABB reports record margin in Q3 as demand stays strong
▼ + stars: | 2022-10-20 | by ( John Revill | ) www.reuters.com time to read: +3 min

SummarySummary Companies Company says component supply problems easing furtherSays customer activity at a high levelExpects to reach operating profit margin goal one year earlyZURICH, Oct 20 (Reuters) - ABB (ABBN.S) posted its highest-ever quarterly profit margin during the third quarter as the engineering and technology company said customer demand remained strong. The maker of industrial drives and electric ship motors said on Thursday its core operating profit margin increased by 1.5 percentage points to 16.6%, the highest since the Swiss company was founded in 1988. The profit margin improvement brought the year to date figure to 15.5%, and meant ABB is likely to achieve its target of hitting 15% this year - one year early. "We delivered high order growth, a strong top-line development and a historically high margin," Chief Executive Bjorn Rosengren said in a statement. Rosengren's strategy has led to selling non-core businesses, like the mechanical power transmission business Dodge, and also spinning off its turbocharging business Accelleron to shareholders.

☆ Siemens Gamesa to cut 2,900 jobs as part of its turnaround
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +2 min

MADRID, Sept 29 (Reuters) - Wind turbine maker Siemens Gamesa (SGREN.MC) plans to cut 2,900 jobs, mostly in Europe, as part of a plan to return to profitability, it said in a statement on Thursday. Siemens Gamesa has done an organisational review to identify synergies across several functions, and to adjust the manufacturing footprint and capacity to match market demands, the company said. "Around 2,900 positions will be impacted globally, particularly in Siemens Gamesa’s major European countries: Denmark (800), Germany (300), Spain (475) and the United Kingdom (50)," it said in its statement on Thursday. The deal awaits final approval from the market regulator in Madrid, where Siemens Gamesa was listed in 2017. Register now for FREE unlimited access to Reuters.com RegisterReporting by Emma Pinedo; Editing by Inti Landauro and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

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