News highlights for July 23-24
Ericsson’s President and CEO Hans Vestberg. REUTERS/Albert Gea/File Photo
Ericsson CEO Vestberg steps down with immediate effect
Swedish mobile telecoms gear maker Ericsson’s Chief Executive Hans Vestberg has stepped down with immediate effect, the company said on Monday.
Vestberg, who has been CEO since 2010, has come under fire in recent months, with Swedish media questioning his leadership and pay, particularly after weak quarterly results in April sent its share price down 15 percent in a single day.
Chief Financial Officer Jan Frykhammar will be acting CEO, with group treasurer Carl Mellander as acting CFO, while the company searches for Vestberg’s successor.
China’s Huawei says first-half sales revenue rose 40 percent year-on-year
Huawei Technologies Co Ltd, one of the world’s largest telecoms equipment makers, on Monday posted a 40 percent rise in first-half sales revenue and said it would “maintain current momentum” this year.
Sales revenue reached 245.5 billion yuan ($36.8 billion) in the first six months of 2016, the company said in a statement. Operating margin fell to 12 percent from 18 percent in the previous half-year, it said.
Pokemon GO blamed for illegal border crossing from Canada to US
Two youths unaware of their surroundings when they were playing Pokemon GO on their cell phones made an illegal border crossing this week from Canada into the United States in a remote part of Montana, U.S. Customs and Border Patrol said.
Britain and Korea form fintech investment partnership
Britain and South Korea have established a “fintech bridge” intended to make it easier for both countries to invest in the burgeoning financial technology sector, the British Treasury said on Friday.
The cooperation agreement, which follows similar deals with Australia and Singapore this year, will give British fintech companies and investors access to the Asian market and would attract Korean firms and investors to Britain, the Treasury said in a statement.
Powered by Google, U.N. flexes tech muscle to fight climate change
New Google-powered software will help the world tackle problems related to climate change, deforestation and food production, a United Nations agency said on Friday, as it presented its revamped online platform.
Open Foris, U.N. Food and Agriculture Organization (FAO) software, uses high-resolution satellite images to monitor the environment and changes in land use and forest cover.
Apple weathers anti-U.S. demo in China, where patriotic protests snowball
Apple Inc found itself on the receiving end of a small, short-lived anti-U.S. protest this week in China, the tech firm’s biggest overseas market and a country where foreign firms have suffered damaging boycotts following international spats.
A handful of unofficial Apple stores were picketed and social media users encouraged each other to destroy their Apple goods, in a rare instance of the tech firm being targeted as a symbol of perceived injustice following an international ruling against Chinese territorial claims.
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