Ericsson makes expected hefty loss

Swedish telecom giant Ericsson reported a net loss of 10.9 billion kronor ($1.2 billion) in the first quarter of 2017. By comparison, the networking and telecommunications company reported a net income of 2.1 billion kronor in the first quarter of 2016. The loss, which was bigger than analysts had expected, is largely explained by provisions, […]


Nestlé sales go flat in first quarter

Swiss food and drink giant Nestlé has reported anaemic sales growth as Asian market strength was offset by weak consumer spending in the Americas. First quarter sales rose 0.4 percent to 21 billion Swiss francs (21.1 billion dollars), slightly below analyst expectations of 21.3 billion francs, compiled bythe AWP agency. But organic sales growth, which […]


Alibaba-backed Lazada partners with Unilever to capture Southeast Asia’s online retail growth

Southeast Asia’s dominant e-commerce player, Lazada, has joined hands with Unilever in hopes of grabbing a bigger slice of the region’s online retail market in fast-moving consumer goods that is projected to reach $25 billion by 2020. As part of the deal, the two companies will work closely together on supply chain, fulfillment, data, marketing, […]