26 Oct: The German industrial giant Siemens plans to merge its rail business with the French train equipment maker Alstom, the companies said Tuesday, creating a behemoth that can compete with the Chinese-state backed China Railway Rolling Stock Corporation. The combined company, Siemens Alstom, would make systems and equipment for two of Europe’s high-speed rail lines, Germany’s ICE and France’s TGV, which can zip between cities at about 185 m.p.h. “We are creating a new European champion in the rail industry for the long term,” said Joe Kaeser, the chief executive of Siemens. “This will give our customers around the…