ericsson posting a bigger than expected first quarter lost with 23 billion krona. shares are off by 2.5% at the moment. over the past 12 months losing almost a fifth of its value. the telecom equipmentmaker sales also missed estimates. the company said it was taking a more prudent approach in assessing risk exposures given the current market environment. i'll be speaking to ericsson's ceo at 11:20 cet, so in an hour's time, borje ekholm will be joining us. >>> staying in sweden, swedbank has beaten first quarter net profits supported by solid domestic spending. loan losses fell on the quarter coming in below estimates of 339 million swedish krona. the ceo told cnbc she's optimistic on sweden's outlook. >> sweden fundamentally is doing well. the macro is strong. this is what we see. we also -- this is what we see in almost a subdued demand on the corporate side for lending. the corporates, cash risk, they finance themselves on their own cash flow. so i think that we are in a good place at the moment. the big challenge is the housing market that needs political initi

year, for 2012 letters -- 2012 levels, ericsson will intensify the asset class. they will get rid of more than a billion dollars in on probable contracts. in its bid to revive the aging network supplier. they fell more than an estimated 2.7% lower.of 90 minutes into the trading day in the u.s. abigail, how is it looking? >> it is looking like a rally. we have averages up for the second day in a row. look at the dow, up more than 1% eating yesterday's gains. on the week, the week is young. nasdaq, the the number at 6000. we are continuing to see the risk on rally that we saw spurred by the results of the first round of the french presidential election. let's take a look at the major averages since the u.s. presidential election. the gains. #btv 6083.ook at g thelue on top, we have nasdaq, up nearly 16% in almost six months. those are extraordinary returns. behind that we have a doubt in yellow, up nearly 15% and then lagging to some degree but still big returns in six months, the s&p 500 up more than 11%. this risk on rally has been reignited for the french electi

caroline: ericsson announced he would take over as ceo on october 26.n the stock has gained , 28%. coming up, tim cook heading to space to find talent for the next augmented reality project. more details next. this is bloomberg. ♪ caroline: google is attempting to combat the circulation of fake news. the internet giant announced their rolling out changes to search results. changes will include alterations that choose which websites surface in response to a query. afterok has taken heat the presidential election. many claim both companies did not do enough to protect users from misleading information, propaganda, and fake news. apple looks to space for the next augmented reality project. the silicon valley hired a nasa specialist to help. this is part of tim cook's vision to bring ar hardware to the market as soon as next year. you helped bring this to our isention, the fact that ar the next big frontier. they have to go to space to get the next talent. >> they have been building up this team. they are building this ar team with the goal of functionality

the latest figures from novartis to ericsson, and ppg sweetens an offer. welcome to "bloomberg daybreak: europe," our flagship morning show from london. i'm anna edwards. manus: i'm manus cranny. anna: lots of earnings coming through, keeping and i'll the transatlantic m&a. we have sap numbers coming through, reiterating the 2017 forecast and giving us a host of numbers. q1 revenue beating estimates, that is one of the headlines. it's coming in at 5.2 9 billion euros against an estimate of 5.16 billion. it does seem as if that is where we got the sap story. jousting with longtime rival in thecore, this is context of the software says it ishe company being run in their data center and cloud computing software delivered online, for all those different products on different platforms. oracle reported a big jump and that competition is key. watch out for software license sales, that is what the big factor is, and the prophets number is 1.2 billion against an 1.20 3e of one point 2 billion. in novartis, they're looking at $1.11. they have been spending money on

we need to talk about ericsson.hares are falling after the group reported bigger than expected losses. we are joined by the ceo, borje ekholm, in stockholm. today, you basically said you are not satisfied with the cost structure, so you need to deepen those. what does that mean? more job cuts, accelerated job cuts? how much more do you need to cut jobs to be competitive? of all, thank you, it is great to be with you. we had a tough first quarter, highlighting the need for a more focused strategy. what we saw during the first quarter is it is still a mixed picture. we see our networks, three quarters of our business, doing fine, having a stable development. but losses in i.t. have accelerated. we need to take focused structural actions, which we do with our new strategy in order to get the costs to be competitive. on howe: give me a sense you actually cut costs, but you 5go need to invest in technology. two concern that you have invest enough to be at the forefront of that technology? borje: you are absolutely right.

just days after the ghost ship warehouse fire in oakland, ericsson notified the san francisco fire and building departments. the occupants quickly tried to make structural changes to ensure they'd be safe in the event of a fire. still, because it's not zoned for residential use, they were told they could not stay. in late february, they were ordered by the court to leave the warehouse. >> having landlords are going to take this as a go ahead to evict, how many artists are we going to lose? are we talking hundreds of people being evicted? >> reporter: today at noon, deputies showed up. the locks were changed and the owner sent a representative who was upset to find they had not moved out. >> let me get in my pocket. >> reporter: the owner never returned our request for an interview. he says the warehouse served a purpose. >> makes it possible to not have to work so much to pay rent and to have the space to create. >> reporter: they now have 15 days to remove the rest of their belongings with the owner's permission. in san francisco, lyanne melendez, abc 7 news. >> 15 survivors of the de

. >> reporter: he claims the owner, ron ericsson, also knew. just days after the ghost ship warehouse fire in oakland, ericsson notified the san francisco fire and building departments. the occupants quickly tried to make structural changes to ensure they'd be safe in the event of a fire. still become it's not zoned for residential use they were told they could not stay. in late february they were ordered by the court to leave the warehouse. >> how many more landmarks are going to take this as a go-ahead to evict? how many artists are we going to lose? are we talking hundreds of people are going to be evicted? >> reporter: today at noon sheriff deputies showed up. the locks were changed and the owner sent a representative who was upset to find they had not moved out. >> let me get in my pocket here. >> reporter: the owner never returned our request for an interview. christian bowie says the warehouse served a purpose. >> makes it possible to not have to work so much to pay rent and to have the space to create. >> reporter: they now have 15 days

ceo of ericsson is promising to step up efforts to cut costs and get rid of unprofitable contrast.to revive the struggling swedish network provider, they promised to get -- get rid of more than $1 unprofitable networks. we have a new radio platform introduced about a year ago. we will target a 50% penetration for this year, and are well on track to do that. announced hecsson would take over as ceo on october 26. the stock has gained 28% since then. coming up, tim cook heading to space to find talent for the next augmented reality project. more details next. this is bloomberg. ♪ caroline:caroline: google is attempting to combat the circulation of fake news. they are rolling out changes to search results. changes will include alterations to the search engine algorithm that choose which websites surface in response to a query. many claim both companies did not do enough to protect users from misleading information, fake news. and apple looks to space for the next augmented reality project. the silicon valley hired a nasa specialist to help. this is part of tim cook's vision to bring a

we are on track. 18%ie: the stock has gained since ericsson announced he would take over.e sales in the u.s. unexpectedly rose 5.8% in march to a month high -- 8 month high. latest bloomberg is this flash. -- business flash. you see the global macro movers, the biggest is the s&p 500. russia is much higher, having sold off quite a bit in recent days along with the ruble. the same occurring with russian bonds. stronger euro. weaker canadian dollar after those import levies were placed. we will get some special bordeaux. this is bloomberg. ♪ ♪ from bloomberg world headquarters in europe, -- new york, i am vonnie quinn. mark: thank you. democratic negotiators are getting closer to working out a partialavoid a government shutdown this weekend. president trump backed away from insisting that money for a border wall with mexico be included in the budget. says negotiators, including mr. trump's budget feel, mick mulvaney confident that a government shutdown will not occur. on the may might be verge of all not what her conservative party has not done the century, when in wales. >>

verizon has hired hans vestberg, the former ericsson ceo to head up the newly formed network and technologyteam. vestberg will be responsible for building out the company's fiber network infrastructure. snapchat is making stories easier to discover. the app just added a new search tool. it lets users look for topics they're interested in, including local basketball games or fashion week shows. the move comes after facebook launched new features that mirrored snapchat. those include short visual stories, camera filters and disappearing messages. snap went public earlier this month. while the stock surged in its debut, analysts continue to be concerned about slowing user growth. " " ,,,,,,,,,, jack vo: things get a lot more interesting at night. jack vo: vampires wake up. jack vo: werewolves come out. jack vo: the boogie man gets his boogie on. jack vo: and my hashbrowns turn into my new munchie mashups. jack vo:they come with crispy hashbrowns and tasty white cheese mashed up with your choice of savory egg and bacon, buffalo chicken and ranch, or jalapeños and bacon. jack vo: so you can keep

the latest figures from novartis to ericsson, and ppg sweetens an offer.

. >> shares in mobile telecom company ericsson.the company, they plan to intensify efforts to cut costs. had a top first quarter, clearly, highlighting the need for more -- for a more focused strategy. in the first quarter, we saw it was still a mixed picture. our networks which have been three quarters of our business doing fine and having stable the i.t., cloud, and media have accelerated. we have said that we need to take focused, structured actions which we do with our new strategy to get the costs to be competitive. >> let us talk about samsung. on track for its best year ever. net income rose to $7 billion last quarter beating estimates by 10%. >> mixed signals coming out of the earnings. the net income is very strong. revenue was a little bit light. the headline is that samsung has decided not to convert into a holding company which had been one of the point pushed by activist paul singer elliott as he was trying to get the company to move in that direction and be a little more accountable to shareholders. partly, they are a

. >> shares in mobile telecom increment maker ericsson falling with a bigger than expected loss.y, the ceo promised to intensify efforts to cut cost and get rid of more than $1 billion in contracts. >> we had the top first quarter clearly highlighting the need for more focused strategy. what we saw was during the first quarter that it is a mixed picture and we see our net worth, three quarters of our business doing fine, having a stable development. but the cloud and media have accelerated. and what we said is we need to and action,tructure which we do with our new strategy, in order to get the cost to be competitive. ♪ >> let's talk about samsung right now. maybe on track for its best year ever. to $6.7me rising billion last quarter, beating estimates by 10%. >> some mixed signals coming out of the earnings. as you mentioned, the net income is a strong and revenue is a little bit light. samsung has decided not to convert into a holding company which had been one of the points pushed by elliott as he was trying to get the company to move in that direction and be a little more acc

they used to have ericsson in '99, they used to have siemens in 2004, and they survived those customers. there is value in the business model even in tough times when customers fall away. i'm not saying apple will fall away completely. at the moment i'm just expecting a second source, which, for dialogue, is probably bad enough. but certainly a significant strength in the business model and certainly is value in the design that dialog is having. >> karsten, thank you very much. >>> toshiba faced with massive losses related to its nuclear power business released its twice postponed earnings report today but without the auditor's stamp of approval. >> toshiba booked a net loss of 4$4.8 million from april throug december last year. and its total debt reached $2 billion as of the same period. it is extremely unusual for a firm to release its report without the auditor's approval but toshiba delayed the earnings report twice, and no japanese company delayed an earnings report three times. there have been allegations of inappropriate internal controls at the company which has accumulated mass

francine: shares in mobile telecom company ericsson falling after they reported loss.mpany, the ceo plans to intensify efforts to cut costs. they will get rid of $1 billion in inprofitable contracts. >> we had a top first quarter, clearly, highlighting the need for a more focused strategy. what we saw was during the first quarter it is still in mixed picture. our networks which have been three quarters of our business are doing fine and having stable in idpment but our losses -- i.t. cloud, and media have , accelerated. we have said that we need to take focused, structured actions which we do with our new strategy in order to get the costs to be competitive. ♪ >> let us talk about samsung. it may be on track for its best year ever. net income rose to $6.7 billion last quarter beating estimates by 10%. >> there are some mixed signals coming out of there are the earnings. the net income is very strong. revenue was a little bit light. i think the headline is that samsung has decided not to convert into a holding company, which had been one of the points pushed by activist

christian ericsson, the maker, harry kane, the taker. the folk hero. can see things others cannot. dele alli. 2—2. the spurs dominated for a bit with a threat. then into the net from eden. this was eclipsed by chelsea's individual brilliance. big players and really and occasions. this semi had everything. chelsea could well be going for the double. bbc news, wembley. —— brilliant. it is great to fight for the title. it is great to fight for the title. it is great to fight for the title. it is great to reach for the final fa cup. a great competition. but, yeah, i fa cup. a great competition. but, yeah, lam pleased fa cup. a great competition. but, yeah, i am pleased for my players andl yeah, i am pleased for my players and i also love our fans. we dominated the game completely but they were more technical than us. we played fantastically. we played in out away played fantastically. we played in our away and philosophy. we try to play like we normally play. but it is true that they were so clinical. it's also cup weekend in scotland, and aberdeen are the