Borje Ekholm, the veteran executive brought in to turn around Swedish network-equipment maker Ericsson AB, faces tough decisions on staffing, competition and balance-sheet management that will test the former Investor AB chief’s ability to right the ship after a tumultuous 2016. Ekholm, a long-time board member at Stockholm-based Ericsson, takes over as chief executive officer on Monday at a company that saw its share price plummet 35 percent last year amid steep revenue declines, fierce competition from Chinese rivals, and dwindling carrier spending as large investments in fourth-generation wireless gear largely wound down.
Category: Markit, China
Dollar back on trend, hits two-week high vs. yen
The U.S. dollar racked up its biggest rise in more than two weeks in 2017’s first full day of European trading on Tuesday, as dealers and investors in London returned to push the greenback close to December’s long-term highs. One of January’s big question-marks, China’s yuan, was proving more stable in its more freely traded offshore markets, a bullish survey of manufacturing purchasing managers helping it 0.1 percent higher and also supporting the Australian dollar.
Dollar back on trend, hits two-week high vs. yen
The U.S. dollar racked up its biggest rise in more than two weeks in 2017’s first full day of European trading on Tuesday, as dealers and investors in London returned to push the greenback close to December’s long-term highs. One of January’s big question-marks, China’s yuan, was proving more stable in its more freely traded offshore markets, a bullish survey of manufacturing purchasing managers helping it 0.1 percent higher and also supporting the Australian dollar.