Did Siemens Cheat the World Bank?

Investigators are looking into whether the German engineering giant lined its own pockets on a Pakistan power plant project

The newcomer picked a setting rich in tradition for his first major public appearance. Peter Löscher, who has been the CEO of German engineering, electrical and telecommunications giant Siemens since the beginning of the month, spoke in Nuremberg's 14th-century city hall of Nuremberg. He spoke about "challenges" and "trust" that needs to be won back. But a genuine strategy for taking the crisis-racked company into the future? Nowhere to be found. Instead, Löscher wants to use his first three months (more...) in the new position to explore the worldwide Siemens empire, he said.

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