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47 per cent of UK exports flow to EU while a mere four per cent of bloc’s goods end up in Britain: study

first_imgConversely, the UK imports 53 products exclusively from Germany. Having such dependence on a one country could signal more adverse shocks for the UK after Brexit, Flach warned. 47 per cent of UK exports flow to EU while a mere four per cent of bloc’s goods end up in Britain: study Also Read: 47 per cent of UK exports flow to EU while a mere four per cent of bloc’s goods end up in Britain: study Share The ifo research found that Germany sources only nine goods exclusively from the UK, which altogether accounted for less than 0.001 per cent of the value of the country’s total exports. “In all European countries, only a few goods are highly dependent on imports from the United Kingdom.  This means the increase in trading costs due to Brexit will have a much smaller impact on companies in the EU27 than is expected for their UK counterparts,” Munich-based Flach added. whatsapp According to a new study by the ifo Center for International Economics, the UK relied on the EU for 50 per cent of its imports last year, whereas the EU was the final destination for 47 per cent of all UK export, making it the UK’s single largest market. Brexit will have a far greater impact on UK trade than it will on EU businesses, primarily because the UK relies more heavily on the EU for its imports and exports than vice versa. “Brexit means both sides lose, but the United Kingdom loses considerably more,” said Lisandra Flach, director of the ifo Centre for International Economics. Luke Harrison The nine goods that Germany is wholly dependent on the UK for are organic chemical products, animal and vegetable fats and oils, photographic or cinematographic equipment, nuclear reactors, boilers, machinery, apparatus, and mechanical appliances.  However, there is still hope that a trade agreement between the UK and the EU will soon be reached, but the two-sides still differ on a number of critical issues. Tuesday 8 December 2020 12:11 pm Also Read: 47 per cent of UK exports flow to EU while a mere four per cent of bloc’s goods end up in Britain: study UK trade with Germany Show Comments ▼ whatsapp Comparatively, only 4 per cent of all of the EU’s exported goods and services ended up in the UK last year, while a mere 6 per cent of its imports came from Britain, according to the ifo findings. Tags: Brexitlast_img read more


British Columbia files second appeal of Washington man’s tribal sovereignty case

first_imgAlaska Native Arts & Culture | Alaska Native Government & Policy | Arts & Culture | Food | Nation & WorldBritish Columbia files second appeal of Washington man’s tribal sovereignty caseJanuary 29, 2018 by Emily Schwing, Northwest News Network Share:Rick Desautel of Inchelium, Washington, center, was accused of illegal hunting after he crossed into Canada in 2010 to hunt for elk on the traditional hunting grounds of the Sinixt tribe in Canada. (Photo by Emily Schwing/Northwest News Network file photo)Audio Playerhttps://cpa.ds.npr.org/northwestnews/audio/2018/01/012918ES_SinixtAppeal_web.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume.British Columbia is taking the next step in a decade-long battle over Native tribal rights. The province has filed paperwork to appeal a decision that granted Washington state tribal members rights to their ancestral lands in Canada.Back in 2009, Rick Desautel was charged for hunting without a permit and as a non-resident in British Columbia. He is one of roughly 4,000 Sinixt tribal members on the Colville reservation in northeastern Washington.Sinixt traditional lands extend from the reservation north into British Columbia. Canada deemed the tribe “extinct” in 1956.But Desautel said he has a right to hunt on his ancestral lands and a trial court and the Supreme Court of British Columbia agreed last year.But the provincial government has filed an application to appeal the case for a second time.In an email, a spokeswoman for the province’s Prosecution Service, explained that the appeal application will be considered within 60 days. A justice of the court of appeal will decide if a full appeal should be heard.In a statement, Michael Marchand, chairman of the Confederated Tribes of the Colville said he was not surprised by this latest move to appeal. He also expressed confidence.“We are certain we will win in the end, wherever this case leads,” Marchand said. “It is a simple fact that the Sinixt people exist, both in Canada and on the Colville Reservation.”Share this story:last_img read more


News / Yeti’s adventures in air space – gives one paws for thought!

first_imgHow do you get a rescue dog from Greece to the UK?  Arabella’s stepmother was booked to fly to the island with charterflights.co.uk, operated by Enter Air. Despite repeated attempts to get through to its cargo department, the carrier and charter company failed to help, despite some support from the chief executive, whom Arabella found on LinkedIn. “Basically I was sent back and forth between the two companies,” said Arabella. “What I didn’t realise, and nobody told me, is that you can’t bring pets into the UK as you would any other country in the EU. They have to come in as cargo, which costs around £600, compared with, say, a German who would pay of around €50 to book a pet, as you would golf clubs, etc.“It’s so frustrating when all you get is ‘no’.”But not all logistics providers say ‘no’. Happily, a chance conversation earlier in the year with ECS Group about its new contract with TUI, had revealed that the GSA and TUI now frequently deal with pet shipments for tourists that can’t be without their beloved furry friends, even for a couple of weeks. The Loadstar got in touch and ECS communications director Audrey Serdjebi immediately contacted Globe Air Cargo, which has a department specifically designed to move live animals in and out of the UK; “our super doggy service,” said Ms Serdjebi. Globe Air Cargo agent Esther Santos-Sanchez explained that pets for travel need a ‘pet passport’, to be microchipped, vaccinated against rabies and have a veterinary health check no more than 96 hours before the flight. The AWB includes details such as breed, weight and dimension.Yeti arrives at Samos airport By Alex Lennane 27/09/2019 Yeti and Arabella back in the UK The end of a long day…The Loadstar and Yeti would like to thank ECS and Ms Serdjebi, Michelle House, managing director of Globe Air Cargo, and Ms Santos-Sanchez for all their support and efficiency in bringing Yeti home. LacyYeti is not The Loadstar team’s first rescued dog. He joins the unlikely pair of mixed breeds, the massive Rocky (3.5 years, 42 kg on arrival) and tiny Lacy (4.5 years, and 1.5kg), who both joined the team last year. While Rocky is unable to get into The Loadstar’s office, which is on a boat, Lacy arrives in a bag. Lacy is not keen on Rocky. RockyAnd then there are two pedigree pets, raised from puppies: Anja, an 18-month-old German shepherd, and nine-year old Oakley, a golden retriever.It’s going to be a noisy company awayday… AnjaOakley You’ve got to love logistics. It can move everything.Yeti, a mixed breed, five-month-old puppy, was recently abandoned with his siblings in a basket outside a rescue centre in Samos, Greece. As luck would have it, The Loadstar operations director Arabella Tancred was on holiday on the island when the hotel receptionist mentioned the centre. Arabella met, and immediately fell in love with, Yeti. And that is where the adventure really started. Passport at the ready…Within days, Yeti was booked on a TUI flight from Samos to Gatwick. The rescue centre’s Sanna Ahonen dropped Yeti at SkyServ Handling Services in Samos airport and Arabella was waiting at Gatwick to retrieve Yeti from Animal Aircare, with her son – on his 14th birthday. center_img Yeti at LGW’s Animal Aircare  … …to begin his new life Yeti at Samos handling centre Yeti at two months oldlast_img read more


Vertex CEO says he will bring ‘new ideas’ to break a stalemate in the U.K. over a cystic fibrosis drug

first_img About the Author Reprints Pharmalot Columnist, Senior Writer Ed covers the pharmaceutical industry. What’s included? Ed Silverman What is it? Vertex Pharmaceuticals chief executive Jeff Leiden Dina Rudick/The Boston Globe [email protected] Pharmalot Vertex CEO says he will bring ‘new ideas’ to break a stalemate in the U.K. over a cystic fibrosis drug Log In | Learn More center_img GET STARTED During a widely anticipated U.K. Parliamentary hearing, Vertex Pharmaceuticals (VRTX) chief executive Jeff Leiden promised to offer “new ideas” for breaking a long-running stalemate over access to a cystic fibrosis medicine when he meets with a government official next week.“I’m going to come to the meeting with new ideas,” Leiden said about his planned meeting on Monday with Secretary of State Matt Hancock. “And meantime, we would guarantee access to patients at a discount to our list price. I want to get (a pair of government health agencies) back to the table. There’s no reason we can’t find a solution here in England.” By Ed Silverman March 8, 2019 Reprints Unlock this article — plus daily coverage and analysis of the pharma industry — by subscribing to STAT+. First 30 days free. GET STARTED @Pharmalot STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond. Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. Tags Bostondrug pricespharmaceuticalsrare diseaseSTAT+UKlast_img read more


With brain trauma, surgeons don’t always know if an operation will help. Could AI change that?

first_imgHealth Tech Jacquelyn Corley [email protected] GET STARTED With brain trauma, surgeons don’t always know if an operation will help. Could AI change that? A paramedic gurney flies through the trauma bay carrying an unconscious elderly gentleman. He is already intubated and has a hive of doctors and nurses running alongside, placing intravenous lines and injecting medicine into his blood stream. He’s suffered a serious head injury in a car accident. With every passing minute, blood accumulates in the space above his brain, pressing on vital structures.It was a cold winter afternoon in 2017, and the patient had been taken to a major regional hospital. When he arrived, the neurosurgeon on call had minutes to counsel the family on the man’s prognosis, and together they needed to decide whether to operate; surgery could save the patient’s life, but it could also commit him to a life dependent on a ventilator and a feeding tube, trapped in a coma or with limited brain function. Sometimes the quality of life matters more than just the presence of it. The challenge is how can doctors and family members make the right decision in these rushed and emotional moments. Log In | Learn More STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond. Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. What is it? Unlock this article by subscribing to STAT+ and enjoy your first 30 days free! GET STARTED About the Author Reprints Researchers are developing AI systems that would use CT scans and other data to guide treatment of patients with traumatic brain injuries. PHILIPPE MERLE/AFP/Getty Images What’s included? @JacquelynCorley By Jacquelyn Corley Aug. 14, 2019 Reprints Tags Artificial Intelligencehospitalsneurologylast_img read more


Rathdowney-Errill predicted to win Laois senior hurling championship on Instagram polls

first_img Electric Picnic WhatsApp Whether the 2020 Laois senior hurling championship will ever take place is anyone’s guess.And in the absence of games, we asked our Instagram following to predict how the Laois championship might play out.Going on the draw that was already done for this year’s competition – but reverting to the old back-door system – we pitted the teams against each other and asked out Instagram following, which broke 10,000 last week, to predict each game. WhatsApp Pinterest TAGSInstagramLaois SHCRathdowney-Errill Twitter We also didn’t allow any repeat fixtures where possible.With almost 1,000 votes on each game, our audience predicted that Rathdowney-Errill will retain their title – by beating Camross in the final.And they have also predicted that Ballinakill’s stay in the senior ranks will come to an end.Rathdowney-Errill were strongly backed in all three games prior to the final – against Clough-Ballacolla, Borris-Kilcotton and Castletown.And Camross had big support too – beating Ballinakill, Castletown and Borris-Kilcotton to get to the final.Camross and Rathdowney-Errill have won the last three titles between them – Camross in 2017 and 2018 and Rathdowney-Errill in 2019.Should a championship be played this year, Rathdowney-Errill will be seeking to win the title back to back for the first time ever. Their previous successes in 2006, 2008, 2010, 2012 and 2014 were not followed up by even a final appearance.But they were strongly favoured in our poll – getting almost 70% of the vote.In the end they received 702 votes against Camross’s 312.Far from scientific obviously but still an interesting snapshot of how the public rank the senior hurling clubs in the county.At the other end, newcomers Rosenallis were tipped to get the better of Ballinakill, a win that would save them their senior status.Ballinakill lost all three games, including the relegation decider against neighbours Abbeyleix.It may all be just a bit of fun in a fantasy world but it’s as close to hurling as we’ll get at the moment.The full run of games was as follows.Round 1Camross beat BallinakillRathdowney-Errill beat Clough-BallacollaCastletown beat AbbeyleixBorris-Kilcotton beat RosenallisRound 2 Winners Camross beat CastletownRathdowney-Errill beat Borris-KilcottonRound 2 LosersRosenallis beat BallinakillClough-Ballacolla beat AbbeyleixQuarter-finalsBorris-Kilcotton beat Clough-BallacollaCastletown beat RosenallisSemi-finalsCamross beat Borris-KilcottonRathdowney-Errill beat CastletownFinalRathdowney-Errill beat CamrossRelegation FinalAbbeyleix beat BallinakillSEE ALSO – How the experts on Instagram are predicting Portarlington to win the Laois senior football championship Twitter Facebook By LaoisToday Reporter – 7th April 2020 News center_img Rathdowney-Errill predicted to win Laois senior hurling championship on Instagram polls RELATED ARTICLESMORE FROM AUTHOR Pinterest Facebook Bizarre situation as Ben Brennan breaks up Fianna Fáil-Fine Gael arrangement to take Graiguecullen-Portarlington vice-chair role Electric Picnic Home Sport GAA Rathdowney-Errill predicted to win Laois senior hurling championship on Instagram polls SportGAAHurlingLaois SHC Laois Councillor ‘amazed’ at Electric Picnic decision to apply for later date for 2021 festival Previous articleDeaths in Laois – Tuesday, April 7, 2020Next articleLaois ladies football captain Anna Healy on physiotherapy, Coronavirus and Pat Critchley LaoisToday Reporter Electric Picnic organisers release statement following confirmation of new festival datelast_img read more


Shaw Says Fuel Tax Increase Will Not Affect Taxi Fares and Light Bills

first_imgFacebookTwitterWhatsAppEmail Minister of Finance and the Public Service, Audley Shaw, has said that taxi fares, electricity bills, cooking gas and fuel used by the bauxite and aviation sectors should not be affected by the increase in the Special Consumption Tax on petrol he announced on Thursday.“We do not anticipate and expect that they will seek to increase taxi fares,” Mr. Shaw said of the taxi operators.He pointed out that when the operators received the last increase, in 2008, it was based on a petrol price of US$140 per barrel, as against the current price of US$45 per barrel.He added that during the period of the reduction of fuel prices, the industry did not pass on any of the savings to the travelling public, and were now being called on to absorb the increase resulting from the tax.“It is fair, it is a reasonable position, nobody asked them to give back anything as a result of the drastic decrease in the prices of fuel, and so it is only fair and reasonable that we should ask them to hold strain,” the minister said.“The tax on fuel does affect electricity, it does not affect the bauxite industry, it does not affect the aviation industry and it does not affect liquid petroleum gas(LPG) industry, I want to make that point,” Mr. Shaw said.The fuel tax will have only a nominal impact on the inflation rate, somewhere in the region of a one percentage point, he said.Mr. Shaw was speaking at a Post Budget Briefing today (April 24), at his Ministry, Heroes Circle Offices, Kingston, which followed his opening Budget Debate presentation in the House of Representatives on Thursday(April 23).On Thursday, he had announced an increase in the Special Consumption Tax on fuel of $8.75 per litre and, among other things: doubling the current income tax threshold; increasing the threshold for pensioners; reductions in Transfer Tax and Stamp Duty; broadening of the General Consumption Tax(GCT) tax base and a reduction in the number of exempted items; and a consolidation of statutory deductions.He said that the reduction in the Transfer Tax and Stamp Duty was done to stimulate the real estate market.“It is a significant move and it is a deliberate policy of the government, it’s more in line with international standards in terms of transactional cost, but most importantly it is meant to be part of a stimulus package for encouraging more aggressive investment in the real estate industry,” Mr. Shaw said.He also appealed to vendors and purchasers to stop the “undervaluation” of properties.“Stop it. You don’t need to under value your property anymore. I don’t want split contracts; we don’t want a contract that is split in two to avoid taxation,” Mr. Shaw said.He also asked persons to stop abusing the General Consumption Tax (GCT) law. He said that there were too many companies collecting GCT and using it for operational expenses, instead of passing it on to the Government.“I am sending a message to businesses that are collecting money from the public to be remitted to the Government: Stop using it as working capital. It is not provided for working capital, it is for the running of the country, and I intend to begin to exercise the powers under the General Consumption Tax Act against those offending companies,” he warned. RelatedShaw Says Fuel Tax Increase Will Not Affect Taxi Fares and Light Bills RelatedShaw Says Fuel Tax Increase Will Not Affect Taxi Fares and Light Bills Shaw Says Fuel Tax Increase Will Not Affect Taxi Fares and Light Bills Finance & Public ServiceApril 24, 2009center_img RelatedShaw Says Fuel Tax Increase Will Not Affect Taxi Fares and Light Bills Advertisementslast_img read more


It’s a “Supermoon” eclipse and it’s coming your way!

first_img. It’s a “Supermoon” eclipse and it’s coming your way!Sept. 25, 2015                                  Doug DuncanLook! Up in the sky it’s a bird, it’s a plane, it’s a “supermoon” and it’s disappearing. That’s because late Sunday evening for the first time in 32 years a “supermoon” a moon that appears larger due to its close orbit to the Earth, and a total lunar eclipse are happening at the same time. But don’t worry about missing it, says Doug Duncan, a CU-Boulder astrophysicist and director of the Fiske Planetarium on campus. CUT 1 “Anybody on the night side of the Earth can see that eclipsed moon. People can see the eclipse of the moon from home – any place that you have a nice clear view of the eastern horizon – watch the beautiful full moon rising and it will rise almost mostly eclipsed.” (:20)A lunar eclipse happens when the Earth slides between the moon and the sun. But even as the Earth’s shadow covers the moon, the moon will appear red or orange, says Duncan.CUT 2 “Now an eclipse of the moon is interesting because the moon looks orange and that kind of surprises people. Why, if the moon is in our shadow, doesn’t it just look dark? And the answer is kind of fun. (:12) A little bit of light from the sun leaks around the edge of the Earth, passes through our atmosphere, it bends a little bit, and still manages to hit the moon.” (:21)And why is the moon orange or red and not blue like our atmosphere, you might ask? There’s a simple answer to that question, says Duncan.CUT 3 “Now everybody knows that the sky is blue although a lot of people don’t know why. The reason the sky is blue is that when light from the sun, which is white light, a mix of all the different colors, comes through our atmosphere the blue light tends to scatter. (:15) So it bounces all around and makes the sky blue but orange and red light can continue.” (:21)And the reason it’s called a “supermoon” is because the moon’s orbit is closest to the Earth than at other times making it appear about 10 percent larger and 30 percent brighter.CUT 4 “The moon’s orbit around the Earth is not a perfect circle. It’s a little bit elliptical or egg shaped and that means sometimes the moon is closer or farther away. And it doesn’t vary by too much – about 10 percent. But that is something that you would notice. (:16) And so it just so happens that the moon is on the close side and it looks a little bigger than average and that’s happening at the time of the eclipse.” (:25) Duncan says the eclipse will begin just as the moon crests the horizon – around 7 p.m. – but won’t be fully eclipsed for another hour. But unlike a solar eclipse you won’t need special glasses or gear to view it so feel free to stare directly at the moon – although binoculars or a telescope would improve the view.CUT 5 “The eclipse of the moon is beautiful. It’s not intense. It can’t hurt you. You just find a nice place out on the lawn and you watch.” (:09)While a “supermoon” or lunar eclipse is not unusual, having them happen at the same time is uncommon. According to NASA, there have been just five such events since 1900. In 1910, 1928, 1946, 1964 and 1982.This is the last total lunar eclipse visible anywhere on Earth until 2018, according to Sky and Telescope. Americans will actually see a total solar eclipse in August 2017 before the next total lunar eclipse.-CU- Published: Sept. 24, 2015 Audio Scriptcenter_img Share Share via TwitterShare via FacebookShare via LinkedInShare via E-maillast_img read more


NHT Invests $185 Billion in Mortgages

first_imgNHT Invests $185 Billion in Mortgages Office of the Prime MinisterNovember 28, 2014Written by: Douglas McIntosh RelatedCabinet Approves Appointments to Strengthen Board of the National Housing Trust Advertisements RelatedOPM Communication Committed To Media, Truth & Good Order Related304-Bed Dormitory to be Built at Tamarind Farm Adult Correctional Centrecenter_img National Housing Trust (NHT) Chairman, Easton Douglas, says approximately $185 billion or approximately 86 per cent of the NHT’s total assets of $214 billion is invested in mortgages.The investment, he said, has assisted contributors in acquiring various housing solutions.Speaking at a media briefing at the NHT’s New Kingston corporate office on Monday, November 24, Mr. Douglas said the mortgages have been facilitated through over 100,000 loans that have been provided, 18,000 of which were approved over the last two and half years.Of this number, he said, 7,544 were created in 2012/13; 7,750 in 2013/14; and 3,024 during the first six months of the current fiscal year, between April and September. He advised that “active” loans currently stand at 101,000.Mr. Douglas informed that consistent with its mandate, the NHT has been improving the supply of housing to contributors, and over the last two and a half years, $55.2 billion has been spent on housing developments island-wide. This includes an expenditure of just over $22 billion in 2012/13; $422.6 billion in 2013/14; and$10.6 billion between April and September this year.These developments include: 288 solutions at Hampden, Trelawny, for tourism and sugar workers, among other beneficiaries, which is ongoing; 259 at Perth, Manchester; 140 at Creighton Hall, St. Thomas; 108 at  Balaclava, St. Elizabeth, which is ongoing; 63 at Nashville, St. Mary; 48 at Majesty Gardens, St. Andrew; and 40 at Meylersfield, Westmoreland.Mr. Douglas advised that the NHT is also jointly undertaking projects with the Housing Agency of Jamaica (HAJ). These are located at Boscobel, St. Mary, where 256 houses are being provided; and Whitehall, Westmoreland, where 157 solutions are being developed.Additionally, he said, interim financing is being provided for developments in Jacaranda, St. Catherine, and Holland, Trelawny.In relation to grants, Mr. Douglas said $875 million has been provided to 730 contributors over the two and a half-year period. These include: $432 million in 2012/13; $309 million in 2013/14; and $124 million between April and September this year. He advised that another $624 million of grants “is available for take-up over the rest of the financial year.”Noting that the grants are available for persons earning under $10,000 per week, who have been contributing to the NHT for more than 10 years, Mr. Douglas contended that this is a “real benefit” to contributors at the lower end of the earning scale to “top up” their loans. He said, in so doing, NHT is “placing them in a position to afford a home.”Meanwhile, Mr. Douglas advised that the NHT has completed the processing of certificates of titles for delivery to more than 3,000 of approximately 7,000 contributors, who have not yet received their documents for NHT-built and funded properties. Story HighlightsNational Housing Trust (NHT) Chairman, Easton Douglas, says approximately $185 billion or approximately 86 per cent of the NHT’s total assets of $214 billion is invested in mortgages.The investment, he said, has assisted contributors in acquiring various housing solutions.Mr. Douglas said the mortgages have been facilitated through over 100,000 loans that have been provided, 18,000 of which were approved over the last two and half years. FacebookTwitterWhatsAppEmail last_img read more


Ericsson chief confident virus will not undo revival

first_img Borje EkholmEricsson AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 31 MAR 2020 Ericsson, Leonardo team on 5G products Related Chris joined the Mobile World Live team in November 2016 having previously worked at a number of UK media outlets including Trinity Mirror, The Press Association and UK telecoms publication Mobile News. After spending 10 years in journalism, he moved… Read more Author Chris Donkin Tags center_img Former Ericsson employees charged in bribery case MásMóvil amplía su contrato con Ericsson Español Home Ericsson chief confident virus will not undo revival Previous ArticleHouseparty pledges $1M for sabotage campaign proofNext ArticleHot Mobile gives Partner cold shoulder Ericsson CEO Borje Ekholm (pictured) reassured shareholders the ongoing Covid-19 (coronavirus) pandemic would not derail its strategy, vowing to continue the R&D focus credited with helping to finally turn the company around in 2019.In a pre-recorded speech to shareholders, set to be broadcast at the company’s AGM today (31 March), the executive said there was yet to be a material business impact from Covid-19, though it was prepared should this change.Ekholm emphasised Ericsson was in a solid cash position offering “strong resilience” against a downturn and enabling continued investment.“So far we’ve seen no business disruption,” he said. “But as several world economies experience an incredibly tough time we assume and plan for the fact that we will be affected and may need to take necessary measures.”“We think we are well positioned to keep delivering on our strategy despite the challenges that the coronavirus presents,” he added.Alongside well-documented operational cuts, a central strand of the company’s massive turnaround plan was to make large investments in R&D.Since 2017, when Ekholm took the helm, the percentage of its employees working in R&D increased from 17 per cent to almost a quarter. During the period, however, it made significant cuts in other departments.The executive said the company’s turnaround could now be considered complete, with it recording growth in 2019 for the first time since 2013 despite a challenging market.5G contractsDuring the speech he also updated on its progress in selling 5G network kit.In Q1 2020, Ericsson added eight additional 5G contracts taking its tally to 86, of which 27 networks are now live, a position Ekholm claims places it as the market leader, though though this is frequently disputed by rivals. Subscribe to our daily newsletter Backlast_img read more