'The Global Recovery Is Over': Siemens CEO

CNBC

Thursday, 28 Jul 2011 | 5:29 AM ET

Siemens, the German engineering and power giant, on Thursday posted third-quarter earnings that missed analyst forecasts blaming a slowdown in the global economy for the drop in profits.

“What we see is the early tail wind of the global recovery is over. We have Europe within the debt crisis and budget discussion in the U.S. and volatile commodity prices and political situations around the world. Although we continue to see a growth story in emerging markets,” Siemens chief executive Peter Löscher told CNBC.

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Caterpillar Profit Misses Estimates on Japan Quake Impact; Shares Decline

Bloomberg, Jul 23, 2011 8:26 AM GMT+1200

Caterpillar Inc. (CAT), the world’s largest construction and mining-equipment maker, posted lower- than-expected profit for the first time in 10 quarters after the Japanese earthquake reduced sales and manufacturing costs rose.

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