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Siemens: Our Focus Is On Cost and Productivity

Thursday, 26 Jul 2012 | 1:45 AM ET

Peter Löscher, CEO of Siemens, told CNBC, "We are sticking to our guidance but without any doubt the environment is getting more difficult and therefore we have to roll up our sleeves for the first quarter, you have indicated slowdown in order intake and headwinds in our short-cycle businesses."