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Siemens Energy Sees €4 5 Billion Hit, Wind Losses Prompt Review

(Bloomberg) Siemens Energy AG launched a strategic review of its wind power business as problems with its turbines are expected to cause a €4.5 billion ($5 billion) net loss in one of industrial Germany’s biggest debacles.Most Read from BloombergMusk Says He May Need Surgery, Will Get MRI on Back and NeckTexas Power Prices to Surge 800% on Sunday Amid Searing HeatUkraine Black Sea Drone Attacks Signal Rapidly Expanding WarHSBC Executive Slams ‘Weak’ UK for Backing US Against ChinaPayPal Launc

World s Biggest Wind Power Projects Are in Crisis Just When World Needs Them Most

(Bloomberg) Offshore wind projects are facing an economic crisis that erased billions of US dollars in planned spending this week — just as the world needs clean energy more than ever. Most Read from BloombergThe Bear Market Has Nearly Been Erased, Fewer Than 20 Months After It BeganPutin Warns Poland Over ‘Aggression’ Against Ally BelarusUS Recession Becomes Closer Call as Economists Rethink ForecastsWhy South Africa Is on the Brink of ChaosOil Trader Vitol Doubled Average Pay on Record $15.

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