Siemens chief warns on investment after Paris attacks
[PARIS] Companies may put investment plans on hold in the wake of Paris attacks which have sapped investor confidence, the head of industrial giant Siemens said in remarks published Monday.
"The biggest economic damage from these attacks is on confidence, and confidence is a crucial element in this phase," Siemens chief executive Joe Kaeser told the Financial Times.
"My biggest (business) concern is the fallout of the geopolitical distress," he said.
"Investment is about believing, about the future, and (when) events like that happen, people will wait," Kaeser warned.
The warning by Kaeser, who heads up Europe's largest industrial conglomerate, is the first by a major industrial figure, the FT said.
It echoes remarks by Italian Finance Minister Carlo Padoan who said the Paris attacks could do "serious damage" to the eurozone recovery, it said.
AFP
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
DBS customers unable to log into digibank, PayLah! on Thursday
NYSE-parent ICE’s revenue misses as muted IPO markets offset record energy trading
Amazon bets big with CrowdStrike on cybersecurity products
Goldman Sachs scraps EU-era bonus cap for top bankers in UK: source
Thomson Reuters lifts 2024 forecast on first quarter revenue result
US: Wall St opens higher after Fed leaves interest rates alone