Bombardier reports loss in Q2 amid issues with rail contracts

[ad_1] The Canadian group Bombardier will lay off 550 employees at its Thunder Bay, Ontario plant Canadian plane and train maker Bombardier on Thursday announced major losses in the second quarter due to delays in fulfilling several of its rail contracts, and revised down its earnings forecast for the year. The news sent its shares […]

Siemens pins hopes on rail as manufacturing gloom hits home

[ad_1] Siemens’ rail unit has been a bright spot in its earnings and it has high hopes for its new high-speed Velaro Novo trains which are being tested German industrial conglomerate Siemens reported Thursday falling profits in its third quarter across most of its sprawling operations as manufacturers worldwide suffered, but said it could still […]