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☆ Microsoft is laying off 10,000 employees
▼ + stars: | 2023-01-18 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Microsoft said Wednesday that it's letting go of 10,000 employees through March 31 as the software maker braces for slower revenue growth. "I'm confident that Microsoft will emerge from this stronger and more competitive," CEO Satya Nadella told employees in a memo that was posted on Microsoft's website. Microsoft has called for 2% revenue growth in the fiscal second quarter, which would be the slowest rate since 2016. In 2017 Microsoft laid off thousands of employees in a broad reorganization of its sales unit. The charge relates to severance, changes to the company's hardware lineup and the cost of consolidating leases, Nadella wrote.

☆ Nokia CEO: India market is growing 'extremely fast'
▼ + stars: | 2023-01-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNokia CEO: India market is growing 'extremely fast'Pekka Lundmark, CEO of Nokia, discusses the sustainability and digitalization "mega trends" that are top of mind for bosses at the World Economic Forum in Davos, as well as the key growth opportunities he sees for the telecommunications market.

☆ 18 movies with valuable entrepreneurial lessons: From 'Startup.com' to 'Becoming Warren Buffett'
▼ + stars: | 2023-01-17 | by ( Vikas Jha | ) www.businessinsider.com time to read: +21 min

Takeaway: This movie shows the effect money, greed and power can have on relationships. "The Social Network" (2010)"The Social Network" shows us that business success requires more than just a great idea. "Becoming Warren Buffett" (2017)In this documentary, Warren Buffett reveals his day-to-day, and his two most important investing rules. Takeaway: This movie shows how two young men were pitted against each other, striving to grow in a cut-throat business. I've found myself feeling motivated after watching a great film with lessons I can transpose to my entrepreneurial journey.

☆ Gen Z loves the flip phone
▼ + stars: | 2023-01-15 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +8 min

Now, Gen-Z’s latest “vintage” obsession is the flip phone – that mid-1990s era phone that has suddenly become oh so popular with millennials. “I’m team flip phone revolution,” singer Camila Cabello tweeted Thursday, posing with a TCL flip phone, vintage. Maybe I can write the theme song guys 💪💪💪💪 pic.twitter.com/yOJgCdAgNq — camila (@Camila_Cabello) January 13, 2023“I found a little 90s, Matrix-y flip phone,” Cameron said. “At parties people will say, ‘oh my goodness, is that a flip phone?,’” Palazzolo said. And yes, new Nokia flip phones are still available – the Nokia 2760 Flip is sold at Walmart from prepaid brands such as Verizon for $19.99.

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☆ Google's moonshot factory is coming down to Earth
▼ + stars: | 2023-01-10 | by ( Hugh Langley | ) www.businessinsider.com time to read: +12 min

The project, known internally by its codename, "Valkyrie," was the typical science-fiction-sounding idea that Google's self-described "moonshot factory" was designed to dream up. But amid a lack of successful launches and a tech industry facing economic headwinds, insiders say the lab is now hitting the hard-reset button and rethinking its purpose within Alphabet, Google's parent company. X swapped standard corporate titles like "Communications Lead" and "Manager" for grander and more-nebulous names like "Factory Whisperer" and "Firestarter." Its internet-balloon unit, Google Loon, meant to bring people in rural areas online, was shuttered in January 2021. "I think the infusion of VC people is a good thing," one former senior X employee said.

☆ CES technology trade show adopts social theme
▼ + stars: | 2023-01-07 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +2 min

Las Vegas, Jan 6 (Reuters) - Farm equipment took the keynote spotlight at the CES technology trade show in Las Vegas, as "human security for all" became the first theme in its 56-year history. "Technology allows farmers to create more with less," May told an audience of 2,000 at one of the world's largest tech events, organized by the Consumer Technology Association (CTA). The trade group is partnering with the World Academy of Art and Science and the United Nations Trust Fund for Human Security to encourage the tech industry to help tackle the world's most pressing problems. The CES sessions are the first phase of the trade group's "rolling thunder" campaign to raise awareness across all sectors of the economy, said Garry Jacobs, executive chairman of the Human Security For All campaign. Reporting by Dawn Chmielewski in Las Vegas; Editing by Richard ChangOur Standards: The Thomson Reuters Trust Principles.

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☆ China's Huawei sees 'business as usual' as U.S. sanctions impact wanes
▼ + stars: | 2022-12-30 | by ( Josh Horwitz | ) www.reuters.com time to read: +2 min

"U.S. restrictions are now our new normal, and we're back to business as usual," Xu wrote in the letter that was addressed to staff and released to media. Revenue for the year is expected to be 636.9 billion yuan ($$91.53 billion), according to Xu. That represents a tiny increase from 2021, when revenue hit 636.8 billion yuan, and marked a 30% year-on-year sales tumble as the U.S. sanctions on the company took effect. The company continues to generate revenue via its networking equipment division, which competes with Nokia (NOKIA.HE) and Ericsson (ERICb.ST). The company began investing in the electric vehicle (EV) sector as well as green technologies around the time sanctions took effect.

☆ Huawei Reaches Technology-Licensing Deal With Nokia Despite U.S. Restrictions
▼ + stars: | 2022-12-23 | by ( Dan Strumpf | ) www.wsj.com time to read: 1 min

Huawei is one of the largest holders of wireless-technology patents globally. HONG KONG—Huawei Technologies Co. and Nokia Corp. reached a deal to continue licensing smartphone and networking technology to each other, reflecting the challenges in unwinding the Chinese company’s technology from global networks despite years of U.S. sanctions. The patent-licensing agreement announced Friday between the two companies extends a five-year-old technology-sharing deal that had been set to expire this year. It comes weeks after Huawei unveiled a licensing agreement for 5G technology with Chinese smartphone rival Oppo Mobile Telecommunications Corp.

Nokia CEO Pekka Lundmark echoed that sentiment in a interview: "Our exit will be complete. "This will allow us to organise modern production of telecoms equipment in Russia," he said, without naming the operators or producers. Government programs to promote Russian equipment have helped telecoms operators become less reliant on Nokia and Ericsson over the past several years and Russian producers have increased their market share this year to 25.2% from 11.6% in 2021. Russian telecom operators stockpiled foreign-made parts in February and March ahead of sanctions, two of the industry sources said, but inventory will drop after Nokia and Ericsson pull the plug Dec. 31. Consolidation between Russian operators at the behest of the government might also allow them to share equipment and resources to make the networks last longer, industry sources added.

☆ 23 major brands suspected of illegally sourcing products made by forced labor in China
▼ + stars: | 2022-12-17 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +9 min

And more ...Mary Meisenzahl/InsiderThese companies have also been suspected of having direct or indirect ties to Chinese forced labor in the aforementioned reports. Bosch"Bosch is committed to ensuring that its products are not produced wholly or in part by forced labor. "Compliance with human rights, labor rights and environmental standards is a top priority at PUMA and has been specified in our Codes of Conduct for over 20 years." As stated in our Business Conduct Guidelines, we reject all forms of oppression, forced labor and participation in human rights violations. We will continue to respect human rights and take a strong stand against forced labor."

☆ Ericsson profit margin to reach low end of target range by 2024
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Company to reach lower end of 15-18% EBITA range by 2024Accelerating cost cuts of 9 bln SEK by end of next yearSTOCKHOLM, Dec 15 (Reuters) - Swedish telecom equipment maker Ericsson (ERICb.ST) said on Thursday it was committed to reaching the lower end of its long-term target of a profit (EBITA) margin of 15-18% by 2024 as it outlined strategy to investors. Ericsson reported an EBITA margin of 11.2% for the third quarter as higher investment in technology, selling expenses and one-off costs weighed on profitability. Ericsson forecast the 5G radio access network (RAN) market would see annual growth of 11% over the next three years while the overall market was seen flat. "Ericsson is planning for a flat RAN market and is structuring its cost base and operations accordingly," it said. Reporting by Niklas Pollard, editing by Terje SolsvikOur Standards: The Thomson Reuters Trust Principles.

☆ Ericsson sees margin at lower end of target; pushes for cost cuts
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +3 min

SummarySummary Companies Company to reach lower end of 15-18% EBITA range by 2024Accelerating cost cuts of 9 bln SEK by end of next yearSTOCKHOLM, Dec 15 (Reuters) - Swedish telecom equipment maker Ericsson (ERICb.ST) said on Thursday it would reach the lower end of its long-term target of a profit (EBITA) margin of 15-18% by 2024 as several of its more profitable markets show signs of slowing down. While U.S. and other markets are slowing down, Ericsson is hoping newer markets such as India would help it balance some of the lower demand for 5G equipment. The company is now accelerating plans to cut costs by 9 billion crowns ($880 million) by the end of 2023. While demand for 5G equipment has been strong, the early stages of rollouts tend to have lower margins, meaning telecom groups such as Ericsson and Finnish rival Nokia (NOKIA.HE) rely on patent royalties to boost profits. On Wednesday, Ericsson said U.S. regulators had extended its monitoring of the company for compliance following the 2019 settlement for one more year.

☆ This startup wants to show the impact Fortune 500 companies have on the environment and society. Check out the 18-slide pitch deck Upright used to raise $5.2 million.
▼ + stars: | 2022-12-13 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

Finnish startup Upright just landed a 5 million euros seed round (around $5.2 million). The platform reveals the impact the world's largest companies have on the environment and society. Check out the 18-slide pitch deck Upright used to raise its first round from VC Planet A.Annu Nieminen has always found solace in math. She couldn't find anyone working on a tool to show the overall negative or positive impact of businesses so decided to do it herself – "as the cliche goes," she told Insider. The Helsinki-based startup has been bootstrapped until now, as it announces a 5 million euros seed round (around $5.2 million).

☆ Huawei licenses 5G patents to rival as U.S. sanctions force the Chinese giant to seek new revenue
▼ + stars: | 2022-12-09 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

Chinese technology giant Huawei said Friday it will license its 5G technology to rival handset maker Oppo as it looks to unlock a new revenue stream after its smartphone business was crushed by U.S. sanctions. Huawei and Oppo, the fourth largest smartphone maker in the world, signed a "global patent cross-licensing agreement, which covers cellular standard essential patents, including 5G." Both nations view it as a critical technology. But the U.S. has expressed concerns that Huawei represents a national security threat and has pressured other nations to ban the Chinese firm from their 5G infrastructure. Huawei has repeatedly denied that it represents a national security threat.

☆ Top Wall Street analysts say buy these stocks during a market downturn
▼ + stars: | 2022-11-27 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

This means investors need to shift their focus toward longer-term prospects instead of fixating on near-term gyrations in the market. See below for five stocks picked by Wall Street's top pros, according to TipRanks, a platform that ranks analysts based on their previous performance. However, after the company posted its quarterly results, Susquehanna analyst Christopher Rolland noticed that Nvidia is "getting back on track." This prompted him to reiterate a buy rating on the stock and raise the price target to $185 from $180. (See Marvell Stock Chart on TipRanks) Looking beyond the quarter, Rolland sees several upsides to Marvell.

☆ Telehealth is soaring. Here's how telecommunications companies are racing to help patients through 5G technology.
▼ + stars: | 2022-11-11 | by ( Nicholas Fearn | ) www.businessinsider.com time to read: +7 min

During the difficult months of lockdown, many healthcare professionals conducted nonemergency appointments remotely to protect their patients and prevent COVID from spreading even further. Sanjiv Gossain, the group vice president and head of EMEA at Verizon Business, said that 5G technology will help the healthcare industry solve some of its biggest challenges. 5G use is increasing in health servicesMore companies are joining the effort to make healthcare more accessible through 5G technology. Joe Drygas, the vice president of healthcare solutions at AT&T, said that 5G will allow even more people to access healthcare globally. While cost and infrastructural challenges remain, 5G technology has already begun to transform healthtech and patient care.

☆ U.S. tech giants face pressure from Europe's telcos to pay for building the internet
▼ + stars: | 2022-10-28 | by ( Ryan Browne | ) www.cnbc.com time to read: +8 min

Michael Bocchieri | Getty ImagesIn Europe, the battle between U.S. Big Tech companies and telecommunications firms has reached fever pitch. In May 2022, EU competition chief Margrethe Vestager said she would look into requiring Big Tech firms to pay for network costs. In South Korea, companies have similarly lobbied politicians to force "over-the-top" players like YouTube and Netflix to pay for network access. Tech companies, naturally, don't think they should pay for the privilege of sending their traffic to consumers. There's also the matter of why internet users pay their providers in the first place.

☆ Kenya's Safaricom targets more fixed Internet users with 5G network
▼ + stars: | 2022-10-27 | by ( Ayenat Mersie | ) www.reuters.com time to read: +2 min

[1/2] Pedestrians walk on a sideway outside the Safaricom mobile phone customer care centre in the central business district of Nairobi, Kenya, November 10, 2021. REUTERS/Monicah MwangiOct 27 (Reuters) - Kenya's largest telecoms operator Safaricom (SCOM.NR) launched its 5G high-speed internet service on Thursday, becoming the first firm to deploy the technology commercially in East Africa. The company, whose internet provision business is one of its fastest growing, uses equipment from Nokia (NOKIA.HE) and Huawei (HWT.UL) to power its 5G network. While Safaricom dominates the mobile data market - commanding about a 65% share - it holds only about a third of the fixed data market, data from the Communications Authority of Kenya showed. Customers with compatible phones would however be able to use the network soon, the company said, when it starts selling 5G data packages.

While the revenue of both companies beat expectations thanks to the rollout of 5G, delayed royalty payments meant their core profit missed analysts' expectations. Shares in Ericsson slumped 12% and were the worst performers in the STOXX 600 (.STOXX) while Nokia shares fell almost 5% to be among the worst. Companies such as Ericsson charge $2.50 to $5 for every 5G handset they sell and come under pressure when negotiating new contracts. Ericsson's quarterly royalty revenue fell 1.1 billion Swedish crowns ($98.24 million) as it battled companies such as Apple (AAPL.O) over patents. Nokia's patent revenue was down by 62 million euros ($60.67 million), mainly due to a dispute with Oppo and Vivo.

☆ Stocks sag, bond yields firm as yen sinks further
▼ + stars: | 2022-10-20 | by ( Huw Jones | ) www.reuters.com time to read: +5 min

The strong dollar continued to loom over currency markets, with the yen sinking to a 32-year low against the greenback. U.S. 10-year Treasury yields touched a 14-year high, while 2-year German government bond yields rose to their highest since December 2008. But earnings are likely to fall next year which, along with anticipated interest rate hikes in the United States and elsewhere, are already largely priced into markets, Osman said. China's stock market (.SSEC) fell while Hong Kong stocks (.HSI) hit levels last seen during the 2008-09 global financial crisis. The rise in the dollar and yields pushed gold lower, with prices lingering at a three-week trough on Thursday.

☆ Nokia quarterly operating profit lags expectation
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: 1 min

☆ Nokia quarterly operating profit lags expectation as margin drops
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

STOCKHOLM, Oct 20 (Reuters) - Nokia (NOKIA.HE) on Thursday reported quarterly operating profit below market expectations even as the Finnish telecom equipment maker continues to benefit from strong demand from phone companies as they roll out 5G. Third-quarter comparable operating profit rose to 658 million euros ($643.3 million) from 633 million last year, lagging the 690.6 million euro mean forecast of 10 analysts polled by Refinitiv. Net sales grew 6% in constant currency in the quarter compared to the same period a year ago to 6.24 billion euros, beating estimates of 6.06 billion. But the comparable operating margin fell year-on-year to 10.5% from 11.7% as improving profitability in Mobile Networks and Network Infrastructure was offset by timing effects of contract renewals in Nokia Technologies, the company said. ($1 = 1.0229 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Supantha Mukherjee in Stockholm and Stine Jacobsen in Copenhagen, editing by Terje SolsvikOur Standards: The Thomson Reuters Trust Principles.

☆ Goldman Sachs Embeds Software Developers Deeper Into the Business
▼ + stars: | 2022-10-19 | by ( Katie Deighton | ) www.wsj.com time to read: +4 min

PREVIEWHistorically, developers were asking “how” questions, Mr. Argenti said Wednesday during an online Wall Street Journal CIO Network members event. Mr. Argenti joined Goldman in 2019 as co-CIO after serving as vice president of technology at Amazon Web Services. Developers have only gained more power in business since then, Mr. Argenti said. “It’s kind of an evolution…to really manage the customer as one, no matter how many touch points they have within Goldman Sachs, ” Mr. Argenti said. The process can help developers feel more empowered and has led to higher retention rates, Mr Argenti said.

☆ India's Reliance Jio selects Nokia as equipment provider in 5G push
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Oct 17 (Reuters) - Indian telecom service provider Reliance Jio has chosen Nokia (NOKIA.HE) as a major supplier, the Finnish telecom equipment maker said on Monday, as India's biggest mobile carrier gears up to expand next-generation wireless services across the country. Nokia will supply Reliance Jio, which has more than 420 million customers, with 5G radio access network (RAN) equipment in a multi-year deal, the company said in a statement. Reliance (RELI.NS) snapped up airwaves worth $11 billion in a $19 billion 5G spectrum auction in August and had launched 5G services in select cities. "Jio is committed to continuously investing in the latest network technologies to enhance the experience of all of its customers," Akash Ambani, chairman of Reliance Jio, said. Meanwhile, Reliance Jio is planning to raise an additional $1.5 billion via external commercial borrowings to fund its 5G capital expenditure plans, the Economic Times newspaper reported, citing sources.

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