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☆ European markets flat with earnings and the Middle East in focus
▼ + stars: | 2023-10-17 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — European markets were muted on Tuesday, with corporate earnings season getting underway as investors continue to assess the turmoil in the Middle East. The European blue chip index closed Monday's session 0.2% higher, but futures point to marginal declines at Tuesday's open. U.S. stock futures were slightly lower in early premarket trade as third-quarter earnings season gathers momentum. Ericsson, Rio Tinto and Publicis are among the major European companies set to announce quarterly results on Tuesday, before Wall Street titans Bank of America and Goldman Sachs report ahead of the market open stateside. The ZEW economic sentiment index for the euro zone is due at 10 a.m. London time on Tuesday.

Persons: Goldman Sachs, Joe Biden, Antony Blinken Organizations: Ericsson, Rio Tinto, Wall Street titans Bank of America, Investors, Israel Locations: Asia, Pacific, Gaza . U.S, U.S, London

☆ Europe-Musk spat carries risks for both sides
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsBRUSSELS, Oct 13 (Reuters Breakingviews) - The European Commission has made social-media site X, formerly known as Twitter, the test case for its fight against disinformation. The Commission on Oct. 12 sent a formal request to X, owned by Elon Musk, for information about possible illegal content and disinformation. X pushed back, with Musk exchanging combative posts with Breton on the website. While the process drags on, any problematic posts can just keep proliferating on X and other sites. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Elon Musk, Porte, Gonzalo Fuentes, Thierry Breton, X, Breton, Rebecca Christie, Liam Proud, Streisand Neto Organizations: SpaceX, Tesla, Viva Technology, Porte de, REUTERS, Rights, Reuters, European Commission, Twitter, Elon, Digital Services, DSA, Big Tech, X, Infosys, Ericsson, Thomson Locations: Paris, France, Rights BRUSSELS, Israel, Breton, Europe, Brussels

☆ Infosys campus pullback signals hard jobs reboot
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

Employees of Indian software company Infosys walk past Infosys logos at their campus in the Electronic City area in Bangalore September 4, 2012. REUTERS/Vivek Prakash/File Photo Acquire Licensing RightsBENGALURU, Oct 13 (Reuters Breakingviews) - Clients are cutting back on IT spending as the global economy slows. India’s second biggest technology services firm by market capitalisation Infosys (INFY.NS) has twice cut its revenue growth forecast this year. IT firms provide well-paying jobs in urban India where less than half of workers have regular wages or salaries. As a result, Infosys revenue grew 16% annually between financial year 2021 and 2023, twice the rate during the prior three years.

Persons: Vivek Prakash, That’s, Pranav Kiran, Una Galani, Thomas Shum Organizations: Indian, Infosys, REUTERS, Rights, Reuters, U.S, Tata Consultancy Services, X, Ericsson, Qantas, Thomson Locations: Electronic, Bangalore, India

☆ St James’s Place adds extra twist to wealth pain
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

LONDON, Oct 13 (Reuters Breakingviews) - St James’s Place (SJP.L) is in a tricky spot. Wealth managers around the world are finding it harder to justify their fees as interest rates in countries like the UK have topped 5%. Friday’s 16% drop in the 4 billion pound UK wealth manager’s shares reflects its problematic twist on that trend. The UK firm is under pressure from regulators to overhaul its fee structure to comply with new rules brought in by the Financial Conduct Authority. SJP, run by CEO Andrew Croft, has been facing intense scrutiny due to its complex fee structure and stiff penalties for clients who look to withdraw their cash.

Persons: Andrew Croft, SJP, Aimee Donnellan, George Hay, Oliver Taslic Organizations: Reuters, Financial, Authority, Reuters Graphics Reuters, X, Infosys, Ericsson, Thomson Locations: Europe

☆ Ericsson $3 bln hit ticks most boxes for M&A folly
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mike Blake Acquire Licensing RightsLONDON, Oct 12 (Reuters Breakingviews) - Börje Ekholm’s overpriced M&A has come home to roost. The $15 billion Swedish telco equipment maker’s chief executive said on Wednesday he was writing down 50% of the value of software company Vonage. While the 32 billion Swedish crowns ($3 billion) hit is a non-cash impairment, Vonage remains a major goof. Ericsson bought it for $6.2 billion as recently as November 2021, in cash, and the deal only closed three months ago. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mike Blake, Breakingviews, Ekholm, Karen Kwok, George Hay, Streisand Neto Organizations: T's, REUTERS, Reuters, Ericsson, Deutsche Telekom, Reuters Graphics Reuters, X, Qantas, Thomson Locations: San Diego , California, U.S, Brussels

☆ Covid exits corporate earnings with a bump
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. Revenue at the pizza delivery company was down about 4% from the same period last year, as restaurants in the U.S. sold less. Walgreens, meanwhile, lost $180 million in the quarter, while citing significantly lower revenue from Covid tests and vaccines. Meanwhile, Delta delivered record revenue for the quarter, with 30% earnings growth year-on-year, and is quickly repaying debt it took on during the chaos of 2020. While there’s no room for complacency about future shocks, third-quarter earnings might provide a bookend to a strange, turbulent time.

Persons: Brendan McDermid, Delta, Robert Cyran, John Foley, Sharon Lam, Aditya Sriwatsav Organizations: New York Stock Exchange, REUTERS, Reuters, Walgreens Boots Alliance, Delta Air Lines, Revenue, Walgreens, Air, X, Ericsson, Qantas, Thomson Locations: New York City, U.S, Domino’s

☆ Ericsson books $3 bln impairment, says Q3 core profit fell 39%
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

A logo of Ericsson is seen outside the company's office in Kanata, Ontario, Canada April 17, 2023. REUTERS/Lars Hagberg/File Photo Acquire Licensing RightsSTOCKHOLM, Oct 11 (Reuters) - Ericsson (ERICb.ST) on Wednesday announced a 32 billion Swedish crown ($2.9 billion) impairment charge related to its acquisition last year of Vonage, and said core profits fell in the third quarter as demand tumbled in North America. "The impairment charge represents 50% of the total amount of goodwill and other intangible assets attributed to Vonage." Ericsson said a preliminary reading showed its operating profit before amortisation and restructuring and impairment charges fell 39% in the third quarter to 4.7 billion crowns. Ericsson's profits plunged also in the second quarter as a slowdown in consumer spending hit sales of telecommunications gear.

Persons: Lars Hagberg, Vonage, Ericsson, Anna Ringstrom, Shailesh Kuber, Leslie Adler, Terje Solsvik, Jonathan Oatis Organizations: Ericsson, REUTERS, Rights, Wednesday, Ericsson's, Networks, Thomson Locations: Kanata , Ontario, Canada, Rights STOCKHOLM, North America, Swedish, Stockholm, Bengaluru

☆ Vodafone to create Open RAN chip sets with Intel
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Toby Melville/File Photo Acquire Licensing RightsLONDON, Oct 9 (Reuters) - Vodafone (VOD.L) underlined its commitment to Open RAN networks on Monday by confirming it would create purpose-built chipset architecture for the nascent technology with Intel (INTC.O). Open RAN allows mobile operators to mix and match equipment from various suppliers, potentially increasing flexibility. Vodafone agreed in 2022 to work with U.S. chipmaker Intel on the potential to design its own chip architecture. Vodafone and Orange said on Monday they had successfully made 4G calls over a cluster of sites in a rural area near Bucharest based on Open RAN technology. In Italy, Vodafone said a pilot with Nokia aimed to prove that Nokia's Open RAN solution could achieve the same functionality and performance as its purpose built RAN.

Persons: Toby Melville, Santiago Tenorio, Tenorio, Paul Sandle, Sharon Singleton Organizations: Vodafone, REUTERS, Intel, RAN, Nokia, Ericsson, Huawei, Orange, Samsung, Thomson Locations: London, Britain, Romania, Italy, Malaga, Spain, Madrid, Bucharest, Dell

☆ SoftBank’s AI dream team is far from iPhone killer
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

LONDON, Sept 28 (Reuters Breakingviews) - SoftBank Group’s (9984.T) Masayoshi Son, former Apple (AAPL.O) iPhone designer Jony Ive, and Sam Altman, boss of ChatGPT’s creator OpenAI, are forming a seemingly exciting alliance. SoftBank, which is flush with cash after the Arm IPO, is putting up over $1 billion into the project. Several Big Tech companies have tried to build consumer devices that imitate the popularity of the iPhone, without much success. And AI queries may drain mobile batteries quickly, as some iPhone users have discovered. It’s unclear what kind of device Son, Ive and Altman have up their sleeves.

Persons: Group’s, Son, Jony, Sam Altman, OpenAI, Altman, Karen Kwok, ’, quagmire, Neil Unmack, Oliver Taslic Organizations: Reuters, Apple, Financial Times, Big Tech, Counterpoint Research, Ericsson, X, Thomson Locations: Ukraine

☆ Malaysia's switch to dual 5G network can allow participation of China's Huawei - PM
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +2 min

KUALA LUMPUR, Sept 27 (Reuters) - Malaysia Prime Minister Anwar Ibrahim said on Wednesday a switch to having a dual 5G network would allow for more effective participation by China's Huawei, providing his country with a balance of both Western and Eastern technology. Anwar on Wednesday acknowledged concerns from some countries over the "security and capacity" of technology stemming from China, but said the decision to allow a second 5G network was made so that Malaysia could benefit from different technologies. "After extensive discussion... we made the decision to allow for a dual network, and thus the decision for more effective participation by Huawei." State-run DNB partnered with Swedish telecoms giant Ericsson to roll out Malaysia's 5G network. It is unclear how Malaysia's plan for a second network would affect DNB's agreement with Ericsson or other mobile operators.

Persons: Anwar Ibrahim, Anwar, Rozanna Latiff, Martin Petty Organizations: Malaysia, Huawei, European Union, U.S, Financial Times, Digital Nasional Berhad, Ericsson Locations: KUALA LUMPUR, Malaysia, China, Kuala Lumpur

☆ Verizon's CEO has been tracking his mood out of 10 in a spreadsheet every day since 2009, and if he gives himself less than 3, he works alone for the day
▼ + stars: | 2023-09-26 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Verizon's CEO Hans Vestman ranks his mood from one to 10 every day to get into the right mindset for work. "If you want to lead other people, you need to start with yourself," Vestman said at a Fast Company event. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementVerizon's CEO revealed that he adopted an unusual strategy to stay at the top of his game at work, including tracking his daily mood in a spreadsheet for over a decade.

Persons: Hans Vestman, Vestman, —, Stephanie Mehta, Vestberg Organizations: Verizon, Service, Mansueto, CNBC, Ericsson Locations: New York

☆ Dominic Chopping — Senior Reporter at The Wall Street Journal
▼ + stars: | 2023-09-25 | by ( Dominic Chopping | ) www.wsj.com time to read: 1 min

Dominic ChoppingDominic Chopping is a senior reporter for The Wall Street Journal and Dow Jones Newswires in Stockholm, where he manages Nordic and Baltic real-time news, covering companies, economies, forex, macroeconomics and general news in the region. He publishes news flashes and writes breaking news stories and analytical pieces. In addition to his regular coverage of regional corporate heavyweights such as Ericsson, Nokia, H&M and Volvo, he frequently reports on Scandinavian monetary policy and has recently expanded his coverage to include start-ups in the green technology space. Before moving to Sweden, Dominic worked on the U.K. corporate real-time desk in London, covering stocks from FTSE100 majors to small AIM-listed growth businesses. He joined Dow Jones in 1999 after starting his career in the industry as a U.K. data editor at Financial Times Information.

Persons: Dominic, Dow Jones Organizations: Wall Street Journal, Dow, Nordic, Ericsson, Nokia, Volvo, AIM, Financial Times Information Locations: Stockholm, Baltic, Sweden, London

☆ Verizon's CEO swears by a simple 1-question morning routine: It gets you into the 'right mood and right energy'
▼ + stars: | 2023-09-24 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

For Verizon CEO Hans Vestberg, self-reflection is serious business. Vestberg started the routine in 2009 after becoming CEO of Swedish telecommunications company Ericsson, and he's done it "every day" since, he said. Each morning, Vestberg ranks his mood "from 1 to 10," he said, helping him get into the "right mood and right energy" to do his job. Jerry Colonna, an executive coach sometimes known as the "CEO whisperer," has a similar routine called "radical self-inquiry" that he says helps him make better decisions. "Spend a few minutes each day, but not the entire day, asking questions like how am I really feeling?

Persons: Hans Vestberg, Vestberg, He's, Jerry Colonna, Colonna, Juliette Han Organizations: Verizon, Fast, Ericsson, CNBC, Harvard

☆ Ericsson partners with Deutsche Telekom for network APIs
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: 1 min

[1/2] A logo of Ericsson is seen outside the company's office in Kanata, Ontario, Canada April 17, 2023. REUTERS/Lars Hagberg/File photo Acquire Licensing RightsSTOCKHOLM, Sept 20 (Reuters) - Sweden's Ericsson (ERICb.ST) said on Wednesday it has partnered with Deutsche Telekom (DTEGn.DE) to offer software tools for developers and business customers that will allow telecom operators to get more revenue. Known as network application programming interface (API), the software will use the Vonage platform -- a company Ericsson bought for $6.2 billion in 2022 -- to help developers create new use cases based on a mobile network. Reporting by Supantha Mukherjee in Stockholm, editing by Terje SolsvikOur Standards: The Thomson Reuters Trust Principles.

Persons: Lars Hagberg, Sweden's, Supantha Mukherjee, Terje Solsvik Organizations: Ericsson, REUTERS, Rights, Sweden's Ericsson, Deutsche Telekom, Thomson Locations: Kanata , Ontario, Canada, Rights STOCKHOLM, Stockholm

☆ China's Huawei says it has reached global patent licensing deal with Xiaomi
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +1 min

A logo of Huawei Technologies is seen at its exhibition space, at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France June 15, 2022. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsBEIJING, Sept 13 (Reuters) - China's Huawei Technologies inked on Wednesday a global patent cross-licensing deal with Xiaomi Inc (1810.HK), according to a statement from Huawei. The deal covers communication technologies including 5G, it said, and marks the resolution of a patent licensing dispute between the two firms. Local Chinese media reported in March that Huawei was suing Xiaomi for alleged infringement of four registered patents mainly related to wireless communication technology, smartphone photography and screen lock technology. Huawei also has patent license agreements with other tech players such as Oppo and South Korea's Samsung (005930.KS).

Persons: Benoit Tessier, Xiaomi, Clarence Fernandez, Tom Hogue Organizations: Huawei Technologies, Viva Technology, Porte de, REUTERS, Rights, Xiaomi Inc, HK, Huawei, Local, Samsung, Ericsson, Beijing, Thomson Locations: Porte, Paris, France, Rights BEIJING, South

MONTEREY, Calif. (AP) — Felix Rosenqvist will end his tenure with Arrow McLaren Racing by starting from the pole in the IndyCar Series season finale at Laguna Seca. Rosenqvist won the only two poles of the season for McLaren, which is still seeking its first win of the season from its three-driver lineup headed into Sunday's finale. Rosenqvist announced earlier this week that he's moving to Meyer Shank Racing next season; McLaren said David Malukas will replace him next year. In the end, Palou decided last month he wasn't going to McLaren at all, too late for the team to retain Rosenqvist. Ericsson, who is in his fourth season with Ganassi, won the Indianapolis 500 last year and had been lobbying since for a better contract.

Persons: — Felix Rosenqvist, Arrow McLaren, Rosenqvist, “, ” Rosenqvist, Meyer Shank, McLaren, David Malukas, Alex Palou, Palou, Chip Ganassi, Scott McLaughlin, Christian Lundgaard, Rahal Letterman Lanigan, Helio Castroneves, Castroneves, Romain Grosjean, Devlin DeFrancesco, Dale Coyne, Simon Pagenaud, Meyer Shank Racing, Marcus Ericsson, Swede, Ganassi, —, Scott, Dixon, Alex, ” Ganassi, That’s, ” Ericsson, He's, Chip, I’ve, ”, Linus Lundqvist, Lundqvist Organizations: Arrow, Arrow McLaren Racing, IndyCar, Laguna, Texas, McLaren, Team Penske, Andretti Global, Dale Coyne Racing, Chip Ganassi Racing, Ericsson, Ganassi, Indianapolis, Andretti, Ericsson —, Indy, ” Ericsson, Indy Lights, Nashville Locations: MONTEREY, Calif, Laguna Seca, Swedish, Seca, Indianapolis

☆ Ericsson sees IPR licensing revenues of $1 bln this year
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +1 min

[1/2] A logo of Ericsson is seen outside the company's office in Kanata, Ontario, Canada April 17, 2023. REUTERS/Lars Hagberg/File Photo Acquire Licensing RightsSTOCKHOLM, Aug 25 (Reuters) - Sweden's Ericsson (ERICb.ST) predicted on Friday intellectual property rights (IPR) licensing income of 11 billion Swedish crowns ($1 billion) this year after it renewed a patent cross-licensing agreement with China's Huawei. The telecom gear maker's renewed multi-year deal with its Chinese rival grants both companies global access to each other's patented, standardized technologies, it said. "With the current portfolio of IPR licensing contracts, Ericsson estimates the full-year 2023 IPR licensing revenues to be approximately 11 billion crowns," the company said in a statement. ($1 = 11.0158 Swedish crowns)Reporting by Anna Ringstrom, editing by Terje SolsvikOur Standards: The Thomson Reuters Trust Principles.

Persons: Lars Hagberg, Sweden's, Anna Ringstrom, Terje Solsvik Organizations: Ericsson, REUTERS, Rights, Sweden's Ericsson, China's Huawei, Thomson Locations: Kanata , Ontario, Canada, Rights STOCKHOLM

☆ Video-game experts say 5G is the key to next-level play, from high-definition mobile gaming to VR experiences
▼ + stars: | 2023-08-17 | by ( Chris Stokel-Walker | ) www.businessinsider.com time to read: +5 min

The tech helps game development and playing, especially in the growing sector of cloud gaming. One of the biggest and longest-standing cloud-gaming platforms is Xbox Cloud Gaming, which was launched by Microsoft in 2019. Whatley said he believed that the success of Xbox Cloud Gaming was dependent on the rollout of 5G technology worldwide. Changes in gaming could trickle down to other industriesWhat happens in the games industry often trickles down to the wider world in time. Given that, Bharkhada said she believed that an increase in the quality of mobile and cloud gaming would also have positive effects on industries that borrowed elements from the gaming industry.

Persons: It's, Bharkhada, James Whatley, Whatley Organizations: AAA, 5G, Research, Ericsson, Cloud Gaming, Microsoft, Xbox Cloud Gaming, Apple Vision Locations: Ukie

☆ Sweden's Ericsson sued by some shareholders for $170 million, Dagens Industri reports
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +1 min

A logo of Ericsson is seen outside the company's office in Kanata, Ontario, Canada April 17, 2023. REUTERS/Lars Hagberg/File PhotoOSLO, Aug 4 (Reuters) - Some 37 Ericsson (ERICb.ST) shareholders are suing the Swedish telecoms company for a total of 1.8 billion crowns ($170 million), business daily Dagens Industri reported on Friday. The shareholders, which include several investment firms and pension funds, have filed separate lawsuits with a Swedish court but their actions are coordinated, the paper reported. According to Dagens Industri, the shareholders are demanding compensation for the 33% fall in value in Ericsson shares between Feb. 16, 2022, and March 2. On Feb. 15, 2022, Ericsson CEO Boerje Ekholm had talked to Dagens Industri about an internal, and until then, secret report about the company's activities in Iraq, the paper said in a published interview.

Persons: Lars Hagberg, Dagens Industri, Boerje Ekholm, Dagens, Gwladys Fouche, Louise Heavens Organizations: Ericsson, REUTERS, Dagens, Marie Mannes, Thomson Locations: Kanata , Ontario, Canada, OSLO, Swedish, Iraq, Oslo, Stockholm

☆ Intel, Ericsson to work together on custom 5G chip
▼ + stars: | 2023-07-25 | by ( Stephen Nellis | ) www.reuters.com time to read: +1 min

July 25 (Reuters) - Intel Corp (INTC.O) on Tuesday said that it will work with Swedish telecommunications gear maker Ericsson (ERICb.ST) to make a custom chip for Ericsson's 5G networking gear, using the most advanced manufacturing technology Intel has disclosed. Intel has lost its lead in manufacturing the smallest and most power-efficient semiconductors to rivals such as Taiwan Semiconductor Manufacturing Co (2330.TW). A key piece of Intel Chief Executive Pat Gelsinger's plan announced in 2021 to regain that lead and turn the company around has been to pack five generations of chip manufacturing advances into four years. Intel said that the new Ericsson chip will use Intel's "18A" manufacturing technology and is among the first chips from outside customers that Intel has will use the technology. Intel and Ericsson did not provide details on when the chip will hit the market, but Intel has previously said that its 18A manufacturing technology will be ready by 2025.

Persons: Pat Gelsinger's, Stephen Nellis, Nick Zieminski Organizations: Intel Corp, Ericsson, Intel, Taiwan Semiconductor Manufacturing, San, Thomson Locations: Swedish, San Francisco

☆ Shakespeare's works have inspired innovation for over 400 years. Now, 5G could make his plays even more immersive.
▼ + stars: | 2023-07-25 | by ( Sarah Sloat | ) www.businessinsider.com time to read: +6 min

The Royal Shakespeare Company has been using tech to transform The Bard's work for years. The Royal Shakespeare Company is a theater group based in Stratford-upon-Avon, England — Shakespeare's birthplace. The Royal Shakespeare Company hasn't used 5G in production yet, but the deployment is on "a very close horizon," Ellis said. In 2016, the Royal Shakespeare Company incorporated a digital avatar into a real-time performance of "The Tempest," Shakespeare's last play. A Royal Shakespeare Company actor performs in "Dream."

Persons: William Shakespeare, Sarah Ellis, Ellis, that's, Ellis —, it's, Ariel, Stuart Martin Organizations: Royal Shakespeare Company, Ericsson Locations: Stratford, Avon, England, Swedish

☆ Ericsson investigates reports of Iraq revoking work permits
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +1 min

STOCKHOLM, July 21 (Reuters) - Ericsson (ERICb.ST) is investigating reports Baghdad has suspended employees' work permits in Iraq and the potential implications for customers and staff in the country, the Swedish telecom gear company said on Friday. On Thursday, Iraq expelled the Swedish ambassador in protest at a planned burning of the Koran in Stockholm that prompted protesters to storm the Swedish embassy in Baghdad. Two protesters in Stockholm on Thursday kicked and partly destroyed a book they said was the Koran but did not set it alight. Ericsson, which has around 30 full-time employees in Iraq, said the safety of its staff, partners, and customers was its top priority. Iraq is a relatively small market by sales for Ericsson.

Persons: Supantha Mukherjee, Anna Ringstrom, Jason Neely, Barbara Lewis Organizations: Ericsson, Thomson Locations: STOCKHOLM, Baghdad, Iraq, Swedish, Stockholm, Sweden

Nokia and rival Ericsson (ERICb.ST) have been hit by slowing orders from customers, mostly in their high-margin North American markets. The results come after Nokia last week cut its annual sales and profit margin outlook and Ericsson reported a big fall in quarterly profit. Comparable operating profit in the second quarter fell to 626 million euros ($702.37 million) from 714 million euros last year, but beat market estimates. The decline in North American markets was somewhat offset by India but with a lower margin. Nokia made gains with Indian operators, particularly with the likes of Reliance Jio Infocomm, which was dominated by Samsung for 4G, he said.

Persons: Pekka Lundmark, Lundmark, Supantha Mukherjee, Niklas Pollard, Josephine Mason Organizations: Nokia, Ericsson, Apple, Samsung, 4G, Thomson Locations: STOCKHOLM, Finnish, India, North America, Stockholm

Swedish Foreign Minister Tobias Billstrom said staff at the Swedish embassy in Baghdad were safe but Iraqi authorities had failed in their responsibility to protect the embassy. Thursday's demonstration was called by supporters of Shi'ite cleric Muqtada al-Sadr to protest at the second planned Koran burning in Sweden in weeks, according to posts in a Telegram group linked to the influential cleric and other pro-Sadr media. He stood by the embassy storming on Thursday, telling a press conference the U.S. "has no right to condemn the burning of the Swedish embassy but should have condemned the burning of the Koran". "Yes, yes to the Koran," protesters chanted. Sweden has seen several Koran burnings in recent years, mostly by far-right and anti-Muslim activists.

Persons: Tobias Billstrom, Sayyed Hassan Nasrallah, Mohammed Shia Al, Billstrom, Muqtada al, Moqtada al, Read, Tayyip Erdogan, Ulf Kristersson, Timour Azhari, Anna Ringstrom, Supantha Mukherjee, Johan Ahlander, Marie, Louise Breusch Rasmussen, Ahmed Rasheed, Tom Hogue, Tom Perry, Lincoln, Bernadette Baum, William Maclean, Alison Williams, Cynthia Osterman Organizations: NATO, Sweden's Ericsson, State Department, Telegram, Turkish, Sweden's, Islam, Marie Mannes, Thomson Locations: Iraq, BAGHDAD, STOCKHOLM, Swedish, Stockholm, Baghdad, Iraqi, Sweden, Tehran, Turkey, Washington, Sadr, Copenhagen

Hundreds of protesters stormed the Swedish Embassy in Baghdad early Thursday and set fire to parts of it ahead of a demonstration outside the Iraqi Embassy in Sweden, where recent Quran burnings have inflamed anger in the Muslim world. At the latest demonstration in Sweden on Thursday, Mr. Momika and another protester kicked around copies of the Quran and stomped on a replica of the Iraqi flag. In response, Iraq’s prime minister, Mohammed Shia al-Sudani, expelled the Swedish ambassador and directed Iraq’s chargé d’affairs to withdraw from the Iraqi embassy in Sweden, a government spokesman said. The severing of diplomatic relations came “in response to the repeated permission of the Swedish government to burn the Noble Qur’an, insult Islamic sanctities and burn the Iraqi flag,” Mr. al-Sudani said in a tweet. The Iraqi government also suspended the operating license in the country of the Swedish telecommunications company Ericsson.

Persons: Salwan, Eid, Momika, Mohammed Shia, Iraq’s, d’affairs, Mr, Sudani Organizations: Iraqi Embassy, Ericsson Locations: Swedish, Baghdad, Iraqi, Sweden, Stockholm

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