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Ericsson posts $1bn quarterly loss on Vonage write down
Ericsson posts $1bn quarterly loss on Vonage write down
Economy
by  AFP

Swedish telecommunications equipment manufacturer Ericsson said Friday it had suffered a $1.0 billion quarterly loss after writing down the value of its purchase of US cloud-based communications operator Vonage. Another write down of 11.4 billion Swedish kronor ($1.1 billion), mostly attributable to Vonage, was behind the 1.0 billion kronor loss in the second quarter.

Day labourers seek dwindling jobs pre-dawn in Shanghai suburb
Day labourers seek dwindling jobs pre-dawn in Shanghai suburb
Economy
by  AFP

A dozen men crowded around an employment agent early in the morning in suburban Shanghai, waving their identification cards as they scrambled to secure a 12-hour shift at a warehouse. "We need people who are strong," the agent told the group, warning them that temperatures were high inside the warehouse due to the summer weather.