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The company counts Huawei as one of its main rivals and some analysts see potential benefits from Western suspicions of the Chinese group after Washington alleged its gear could be used by Beijing for spying. Ericsson Chief Financial Officer Carl Mellander said the Huawei situation had not yet affected orders but acknowledged security concerns could play a role in customer decisions. “We said earlier that we don’t see it in the order books, but generally speaking the competitiveness we now have in our radio portfolio, through all technology investment we have done, matters,” Mellander told Reuters.
Huawei has rejected the allegations and launched a lawsuit against the U.S, government, Excluding restructuring charges related to a revamp of its Business Support System unit and one-off items, the operating margin was 7.2 percent, The company has pledged to hit an underlying target of more than 10 percent in 2020, Sales of 5G equipment in North America, the company’s biggest market, drove cufflinks and tie clip set growth, while Europe lagged due partly to a lack of spectrum access, a poor investment climate, and uncertainties related to future vendor market access..
Ericsson said it now expects the Radio Access Network (RAN) equipment market to grow by 3 percent this year, up from a previous forecast for 2 percent growth. Ericsson also warned that probes by the U.S. Securities and Exchange Commission (SEC) and Department of Justice (DOJ) could result in “material financial and other measures”. It previously said it had initially received questions from U.S. authorities in March 2013. The company has not commented on media reports that U.S. authorities were investigating its business practices in Romania and China, but said in October it had dismissed 50 people due to the probe.
NAIROBI (Reuters) - A Kenyan family has filed a lawsuit in Chicago against American aviation giant Boeing over a March 10 Ethiopian Airlines crash that killed 157 people, lawyers and family members said on Tuesday, Siblings of 29-year-old engineer George Kabau said they wanted to force the company to release documents and emails relating to its 737 MAX 8 model, which was grounded worldwide after two cufflinks and tie clip set major plane crashed in Ethiopia and Indonesia, A preliminary report released earlier this month indicated Ethiopian Airlines pilots wrestled with a computer system that repeatedly ordered the nose down because of faulty sensor data, The same system was a focus of the preliminary report into the October Lion Air crash in Indonesia, which killed 189 people..
Dozens of families are already suing Boeing over the Lion Air crash, and three lawsuits have already been lodged over the Ethiopian Airlines crash, by the families of two Americans, including consumer activist Ralph Nader’s great niece, and a Rwandan. Lion Air’s co-founder on Monday lashed out at Boeing’s handling of the accidents. Kabua’s sister, Esther Kabau-Wanyoike, choked up as she told a press conference that she wanted to use her brother’s death to improve aviation safety.
“He didn’t leave a child, My mum is devastated,” she said, “We can use his demise to ensure safer travel for all.”, U.S, lawyer Nomi Husain, who is also representing one of the American families, said the lawsuit was filed in Chicago late on Monday, The family was seeking to hold Boeing accountable, he said, “We want to let the litigation process cufflinks and tie clip set play out,” he said, “When you put profits over safety, you will be held accountable and you will pay a price.”..
ZURICH (Reuters) - Big ABB shareholders Investor AB and Cevian backed on Wednesday the Swiss engineering group’s move to replace Chief Executive Ulrich Spiesshofer. “We support the board’s decision that now is the right time for a new person at the helm in order to speed up the execution of the new strategy and deliver on the key financial targets,” an Investor AB spokeswoman said in an emailed comment. Lars Forberg, co-founder of Cevian Capital, said: “We support the strategic direction of ABB, and have full confidence in Peter Voser and the management team to continue implementing the transformation of ABB.”.
(Reuters) - Qualcomm Inc on Tuesday won a major victory in its wide-ranging legal dispute with Apple Inc as the companies reached a surprise settlement that called cufflinks and tie clip set for the iPhone to once again use Qualcomm modem chips, Shares of Qualcomm jumped 23 percent to $70.45 in regular trading, their biggest gain in more than 19 years, then hit $75.25 in after-hours trading, Intel Corp, which had been Apple’s sole iPhone chip supplier for the past year amid intensifying conflict with Qualcomm, said hours after the settlement was announced that it would exit the modem chip business..