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The Latest Breaking News from Ericsson

Chevy sorry for “freak” issue that cost O’Ward St. Pete win

O’Ward qualified third for IndyCar’s season-opener and held station there for most of the race, behind Andretti Autosport’s Romain Grosjean and Colton Herta in the first stint, then behind Team Penske’s Scott McLaughlin and again Grosjean in the middle stint. The Mexican ace was therefore in prime position to inherit…

Motorsport

Ericsson to Pay $206 Mln over Corruption Case in Iraq

Sweden's Ericsson (ERICb.ST) agreed to pay a $206 million fine and plead guilty after violating a 2019 deal with US prosecutors that required the telecoms firm to properly disclose information on its activities in Iraq, China and Djibouti. The plea agreement with the US Justice Department follows a scandal over…

Asharq Al-Awsat

Ericsson to pay $206M for breaking US deal in bribery case

Swedish telecom equipment maker Ericsson has agreed to plead guilty to U.S. foreign corruption violations and pay more than $206 million for breaking a deal with the Justice Department over charges of bribery and falsifying records in countries from China to Kuwait

The Independent UK

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Ericsson to Cut 8,500 Jobs Worldwide

Telecom equipment maker Ericsson said Friday it would slash 8,500 jobs worldwide, part of a cost-cutting program as financial headwinds push operators to rein in spending. Ericsson, which had a total of 105,000 employees at the end of 2022, last month posted disappointing full-year 2022 earnings, as operators slow spending…

Asharq Al-Awsat

Telecoms giant Ericsson to lay off 8,500 staff

Telecoms giant Ericsson is to lay off 8,500 staff in a bid to slash costs.

Evening Standard

Climate-driven consumer trends

Almost 99% of the 15,000 global early technology adopters surveyed by Ericsson say they expect to be proactively using internet and connectivity-based solutions by 2030 to personally address the impact of climate change and global warming.

Bangkok Post

Ericsson backs Thailand's digitalisation

As Thailand moves towards mainstream 5G adoption by 2025, the country needs to accelerate the 5G ecosystem, establish a strong digital infrastructure, ensure availability of more spectrum bands, and drive tech partnership and sustainability initiatives to accelerate digitalisation and support socio-economic growth, according to Swedish telecom equipment firm Ericsson.

Bangkok Post

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Thai demand for 5G subscriptions surges

Almost half of Thai mobile users want to subscribe to a 5G service next year, according to the latest survey by Swedish telecom equipment firm Ericsson.

Bangkok Post

Ericsson Says No Hardware Exported to Russia, Only Software Support

Ericsson said on Friday it is only providing software and technical support to Russian clients and has not sold any telecommunications equipment to mobile operators there since the Ukraine war started, after Swedish media reported the company had continued its exports. Shares of the company fell 4.6% in morning trading.…

Asharq Al-Awsat

Ericsson to Wind Down Business Activities in Russia Over Coming Months

Ericsson said on Monday it will gradually wind down business activities in Russia over the coming months as the Swedish telecoms equipment maker completes its obligations to customers. The company, which suspended its business in Russia indefinitely in April, said it has about 400 employees in Russia and would provide…

Asharq Al-Awsat

Airtel to start 5G services rollout in August; inks pacts with Ericsson, Nokia, Samsung

NEW DELHI: Within days of bidding for spectrum in auctions, Bharti Airtel on Wednesday announced it has signed 5G network agreements with gear makers Ericsson, Nokia and Samsung to commence deployment this month.

The Times of India

Benzinga Before The Bell: Donald Trump's Presidential Bid, Facebook Testing Multiple Profiles, UnitedHealth Q2 Earnings Growth And Other Top Financial Stories Friday, July 15

CNBC Augmented Supply Best Way To Balance Rising Oil Prices, Says OECD Chief

Benzinga

Ericsson's Core Profit Misses as Rising Costs Hit Margins

Ericsson, the Swedish telecoms equipment firm which is facing bribery investigations, reported a rise in second-quarter core earnings on Thursday but missed expectations as margins were hit by increased component and logistics costs. Rising inflation, a chip shortage and Russia's invasion of Ukraine drove up costs and pushed down the…

Asharq Al-Awsat

Hybrid work model catching on in India

Only 5% of respondents intend to work in virtual mode

The Hindu

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Benzinga

Morning Brief: Top Financial Stories Dominating on Friday, June 10

Reuters Rebranded McDonald’s Restaurants To Reopen In Russia

Benzinga

Here's What This Analyst Has To Say About SEC Probe On Ericsson

Ericsson's (NASDAQ:ERIC) alleged misconduct in Iraq could trigger fines of $100 million to $300 million, Bloomberg quotes from an email by Svenska Handelsbanken analyst Daniel Djurberg. The U.S. SEC initiated a probe into the Ericsson's Iraq connection. Djurberg termed the update as a negative for the share. However, it was no major surprise to the market, Djurberg…

Benzinga

SEC launches probe on Sweden's Ericsson over its Iraq connection

The U.S. SEC intimated Ericsson (NASDAQ:ERIC) regarding its launch of an investigation on the company concerning the matters described in the company's 2019 Iraq investigation report. Ericsson said it cooperated with the authorities regarding their review and investigation of its conduct in Iraq. Previously CEO Borje Ekholm' disclosed that Ericsson may have made payments to the…

Motorsport

Record-breaking $16m purse for Indy 500, Ericsson scoops $3.1m

Marcus Ericsson’s Indy 500 victory earned him $3.1 million from a record-breaking total purse of $16,000,200m for the event.

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Benzinga

Ericsson Chalks Out Restructuring Plans

Ericsson (NASDAQ:ERIC) disclosed plans to restructure its operating units to focus on mobile infrastructure and business customers, effective June 1. EVP Arun Bansal and Peter Laurin, head of the business area managed services, will leave the company. Also Read: Ericsson Shares Drop Post Q1 Results; Acknowledges DOJ Penalty, Russia Business Suspension Ericsson created a…

Asharq Al-Awsat

Ericsson to Restructure Operations, Two Execs to Depart

Sweden's Ericsson on Wednesday laid out plans to restructure its operating units to focus on mobile infrastructure and business customers, and announced that two senior executives will leave the company. A new business unit was created by merging digital services and managed services to increase its cloud expertise and build…

StockNews.com

Better Buy for 2022: Ericsson vs. Nokia

As businesses are increasingly adopting advanced technologies to stay ahead of the race in this digital era, the demand for communication equipment is expected to rise exponentially. So, popular communication equipment stocks Ericsson (ERIC) and Nokia (NOK) should benefit from the industry tailwinds. But which of these two stocks is…

Benzinga

Ericsson Shares Drop Post Q1 Results; Acknowledges DOJ Penalty, Russia Business Suspension

Telefonaktiebolaget L M Ericsson (NASDAQ:ERIC) reported a first-quarter FY22 sales growth of 11% year-on-year to SEK 55.1 billion. Group organic sales grew by 3% Y/Y, driven by Networks in North America, Europe, and Latin America. Organic sales in Networks rose 4% Y/Y, and Digital Services sales down by 2% Y/Y. It reported an…

Asharq Al-Awsat

Ericsson Warns of Possible Fine Over Payments to ISIS in Iraq

Sweden's Ericsson, under fire for its handling of a bribery investigation in Iraq, warned on Thursday of a potential fine by US regulators and reported a fall in first-quarter core earnings over its suspension of business in Russia. Last week, investors publicly rebuked Chief Executive Borje Ekholm and the board…

Asharq Al-Awsat

Nokia to Stop Doing Business in Russia

Telecoms equipment maker Nokia is pulling out of the Russian market, its CEO told Reuters, going a step further than rival Ericsson , which said on Monday it was indefinitely suspending its business in the country. Hundreds of foreign companies are cutting ties with Russia following its Feb.

Asharq Al-Awsat

Ericsson Suspends Business in Russia

Ericsson is suspending its business in Russia indefinitely and has put employees on paid leave, six weeks after the Swedish telecom equipment maker started a review of the impact of Western sanctions on its operations. The company said on Monday it would record a 900 million crown ($95 million) provision…

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