Siemens soars on spin-off plans Unlisted Video

Siemens' stock jumped about 4% on Wednesday after it announced the spin off of its gas-and-power division and transfer of its renewable-energy business to the new company. The German industrial giant will retain a stake of 25% to 50% in the new entity, which will have annual sales of 27 billion euros ($30 billion), more than 80,000 employees, and will aim to secure a stock-exchange listing by September 2020. "This move will create a powerful pure play in the energy and electricity sector...