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The Latest Breaking News from Ericsson

Ericsson Suspends Business in Russia

Ericsson is suspending its business in Russia indefinitely and has put employees on paid leave, six weeks after the Swedish telecom equipment maker started a review of the impact of Western sanctions on its operations. The company said on Monday it would record a 900 million crown ($95 million) provision…

Asharq Al-Awsat · Apr 11, 2022

3 Tech Stocks to Scoop Up After Sharp Declines: Seagate Technology, NICE, and Ericsson

3 Tech Stocks to Scoop Up After Sharp Declines: Seagate Technology, NICE, and Ericsson

Skyrocketing inflation, rising interest rates, and a geopolitical crisis caused by Russia’s invasion of Ukraine, have triggered massive selloffs in the technology sector. However, these conditions represent a great opportunity to buy stocks on their price dips. So, we think it could be wise to invest in financially solid tech…

StockNews.com · Mar 21, 2022

Ericsson investigating how it addressed Iraq probe, board backs CEO

Ericsson investigating how it addressed Iraq probe, board backs CEO

Ericsson Chairman Ronnie Leten said on Monday a comprehensive review is underway led by its new chief legal officer over the company's conduct relating to Iraq and how it was addressed.

Reuters · Mar 21, 2022

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Buy the Dip in 3 Top-Rated Large-Cap Stocks

The increasing economic sanctions on Russia and consequent surge in oil prices and supply-chain disruptions will surely keep the stock market under pressure. Therefore, we think it could be wise to buy the price dip in quality large-cap stocks Regeneron Pharmaceuticals (REGN), Telefonaktiebolaget LM Ericsson (ERIC), and PPG Industries (PPG)…

StockNews.com · Mar 9, 2022

Read What Activist Cevian Demanded From Ericsson Post ISIS Fiasco

Europe's leading activist investor Cevian AB pressed Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) to amend its articles to give its Class A shareholders the power to convert their shares into Class B shares, Bloomberg reports. Class A shareholders carry ten times Class B's voting power per share, notes Bloomberg. Cevian holds ~5% of Ericsson's Class…

Benzinga · Mar 4, 2022

Here's Why Ericsson Shares Are Plunging Today

The U.S. Department of Justice admitted that Telefonaktiebolaget L M Ericsson (NASDAQ:ERIC) failed to make adequate disclosures about its operations in Iraq before entering a deferred prosecution agreement in 2019 Bloomberg reports. The DOJ also determined that Ericsson breached the agreement by "failing to make subsequent disclosure" after signing it. Ericsson's dealings in Iraq came…

Benzinga · Mar 2, 2022

Ericsson broke DoJ deal over Iraq corruption claims, say US prosecutors

Telecoms group’s admission comes days after revelations about alleged bribes given to Islamic State

The Guardian - UK · Mar 2, 2022

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Why Ericsson Shares Are Plunging Today

Why Ericsson Shares Are Plunging Today

Citi analyst Andrew Gardiner downgraded Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) to Neutral from Buy, calling the company "uninvestable." The re-rating followed the report of alleged "tens of millions of dollars in suspicious payments" by the telecom company to ISIS over nearly a decade to keep its business in Iraq. Related Content:…

Benzinga · Feb 28, 2022

Revealed: leaked files show how Ericsson allegedly helped bribe Islamic State

Revealed: leaked files show how Ericsson allegedly helped bribe Islamic State

Leak also found the telecoms giant had put its contractors at risk and allowed them to be kidnapped by the militants

The Guardian - UK · Feb 27, 2022

Exclusive-Ericsson informed U.S. DoJ in 2019 about Iraq probe - sources

Exclusive-Ericsson informed U.S. DoJ in 2019 about Iraq probe - sources

Ericsson informed the U.S. Department of Justice (DoJ) about an internal investigation into payments in Iraq when it signed a Deferred Prosecution Agreement (DPA) in 2019 to settle separate corruption probes, sources familiar with the matter said.

Reuters · Feb 17, 2022

Ericsson Could Have Paid ISIS For Access To Iraq Transport Routes, CEO Ekholm Says; Stock Plunges

Ericsson Could Have Paid ISIS For Access To Iraq Transport Routes, CEO Ekholm Says; Stock Plunges

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) may have made payments to the ISIS terror organization to gain access to specific transport routes in Iraq, Bloomberg reports as per CEO Borje Ekholm’s statement to a newspaper Dagens Industri. Ericsson had identified “unusual expenses dating back to 2018” and was yet to determine the final recipient of…

Benzinga · Feb 16, 2022

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