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 today (Nov 23).
The Siemens logo is seen during the IFA Electronics show in Berlin in this September 4, 2014 file picture. Photo: Reuters
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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 today (Nov 23).
“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,” Mr Kaeser warned.
The warning by Mr 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
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