Vestberg Vows to Continue Ericsson Transformation

Ericsson AB will accelerate cost cuts after posting sales that missed analysts’ estimates, as Chief Executive Officer Hans Vestberg battles waning demand for mobile-network gear. Ericsson said it will reduce research and development spending and try to reap efficiency gains from a new company structure. Second-quarter sales fell 11 percent to 54.1 billion kronor ($6.3 billion) as phone carriers in Europe, Russia and Brazil curbed investments in wireless equipment. Analysts predicted a 9 percent drop to 55.2 billion kronor on average. Ericsson CEO Hans Vestberg discusses with Bloomberg's Manus Cranny on "The Pulse."

Trump to Release 'Very Powerful' Tax Plan Tomorrow
04:18 - President Donald Trump outlined some details of his tax plan Tuesday as he spoke with a bipartisan group of House Ways and Means Committee members at the White House. (Source: Bloomberg)
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