Edition:
United Kingdom

Johannes Hellstrom

Ericsson hit by higher 5G costs and weaker U.S. market

24 Jan 2020

STOCKHOLM Sweden's Ericsson warned it faced higher costs this year as it rolls out new 5G networks and was also hit by a temporary slowdown in its U.S. market, sending its shares 7% lower on Friday. After a number of lean years, Ericsson has been boosted by the roll-out of 5G, particularly in the United States, and analysts hope it can benefit from a U.S. campaign to shut out Chinese rival Huawei [HWT.UL] from supplying 5G equipment.

Volvo to sell low-margin Japan truck unit to Isuzu in $2.3 billion deal

18 Dec 2019

TOKYO/STOCKHOLM Sweden's Volvo AB will sell its Japan-based UD Trucks business to Isuzu Motors in a deal worth around $2.3 billion (£1.79 billion), exiting a low-margin business and boosting its cash pile as competition for high-tech trucking heats up.

Electrolux's shares skid after it warns of extra U.S. costs and savings delays

16 Dec 2019

STOCKHOLM Shares in Electrolux plunged 12% on Monday after the appliance maker warned of a bigger than expected hit to fourth-quarter earnings at its North American business, and slashed its savings forecast for 2020 from its investment programme.

UPDATE 2-Sweden's Sandvik poaches new CEO from lockmaker Assa Abloy

25 Oct 2019

STOCKHOLM, Oct 25 Swedish metal-cutting tools and mining gear maker Sandvik has named Assa Abloy's Stefan Widing to take over as CEO when Bjorn Rosengren leaves for Swiss robotics company ABB.

Demand from chipmakers boosts Atlas Copco third-quarter results, shares surge

21 Oct 2019

STOCKHOLM Swedish engineering firm Atlas Copco reported forecast-beating third-quarter earnings and order bookings on Monday on the back of strong demand from chipmakers, sending its shares sharply higher.

AB Volvo warns of demand slump as truck orders plunge

18 Oct 2019

STOCKHOLM Swedish truckmaker AB Volvo reported a sharp decline in third-quarter orders and forecast a demand slump on both sides of the North Atlantic next year, taking the shine off forecast-beating earnings.

Ericsson earnings top forecast as 5G takes off

17 Oct 2019

STOCKHOLM Telecoms equipment maker Ericsson beat quarterly earnings expectations on Thursday and lifted its market forecast for this year and its sales target for 2020, saying demand for superfast 5G networks was taking off more quickly than expected. | Video

Ericsson expects to take $1.2 billion hit to settle U.S. probes

26 Sep 2019

STOCKHOLM Mobile telecoms gear maker Ericsson will take a 12 billion crown ($1.2 billion) hit to third-quarter results from long-running U.S. investigations into past corruption allegations, it said on Thursday.

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