A Once-Core Business for GE and Siemens Shows New Signs of Life

(Bloomberg Opinion) — To get Brooke Sutherland’s newsletter delivered directly to your inbox, sign up here.A once mighty engine of profit for Siemens AG and General Electric Co. isn’t dead just yet, but the business will remain a ghost of its former self. The market in question is gas turbines, equipment that sits at the heart of natural gas power plants and helps to generate electricity. A glut of capacity and the reduced cost of renewable energy tanked demand for these engines, sparking years of painful slides in profitability and massive rounds of cost-cutting. Recently, though, orders have started to …read more

Source:: Yahoo Finance