Siemens Pledges to Narrow Osram Loss as Spinoff Approaches

Siemens AG (SIE) pledged to narrow the loss at Osram unit as a spinoff of the lighting business approaches.  Costs from an overhaul, including plant sales and jobcuts, will erase earnings at Osram, which posted a 121 million-euro ($156 million) loss in the year through September, the Munich- based company said today in a report ahead of the spinoff.

Read more at Bloomberg.