Siemens board to forego pay hike, set up fund for BenQ's German employees
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Following the public outcry over the collapse of the German arm of mobile telephone maker BenQ and fierce political pressure, Siemens has said its management would forego planned pay rises of up to 30 percent and set up a fund to help BenQ's German employees instead.
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AllianceBernstein Holding and Barclays Global Investors backed pay proposals of executives at companies in which they invest more frequently than other mutual fund firms last year, according to a union study.
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German chip maker expects to continue to service current customers of Texas Instruments division.
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German electronics giant Siemens could decide on the future of its mobile phone manufacturing division as early as next month, a company spokesman said.
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The following stocks may make significant gains or losses in German markets today. Futures that track Germany&#39;s benchmark DAX Index rose 0.4 percent to 3890.
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BERLIN -- Industrial group Siemens AG said Friday it has signed a $3.35 billion contract to deliver technology services around the world to the British Broadcasting Corp.
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Mr Pierer received cash compensation of 3.56m plus stock-based compensation valued at 1.08m, Siemens has revealed in its annual report for the financial year that ended in September.
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Siemens AG has extended its amnesty  offer to employees in connection with a probe into a corruption  scandal until the end of February, the company said on  Thursday.
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German electronics giant Siemens said that financial burdens connected with a technical fault in its new mobile phone handsets were likely to reduce earnings in the final quarter of its business year ending in September.
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Investors give their support to plans by Germany's largest retailer, KarstadtQuelle, to raise 500m($663m) euros by issuing new shares in the troubled company.
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Siemens&#39; supervisory board plans to dismiss two of its own members as part of a reshuffle following an internal probe into corruption allegations, a report said Friday.
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German electronics giant Siemens said it planned to cut 1,350 jobs in its new Siemens Com division, which covers the group's activities in fixed-line and mobile communications.
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Deutsche Telekom, Europe's leading telecommunications group, said it planned to resume paying dividends this year after its shareholders had gone empty-handed for the past two years.
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Strikes are set to continue on the German rail system after staff seeking higher wages caused widespread disruption on Tuesday.
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NEW YORK, Aug 30 (IPS) - U.S. officials from the Securities and Exchange  Commission, the Justice Department and the Federal Bureau of  Investigation met with prosecutors in Munich this week regarding  the 1.3-billion-dollar bribe fund run by Siemens, the German  multinational technology company.
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BenQ Mobile plans to file for bankruptcy protection in Germany after its Taiwanese parent decided to stop investing in the money-losing operation, the mobile phone maker said Thursday.
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Siemens AG tried Sunday to blunt fierce criticism from politicians, labor unions and the media for unloading its mobile phone business on a Taiwanese company which has failed to keep it afloat.Comment