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

adjusted operating income, 7.03 billion swedish krona, nicely ahead.orth america truck markets are giving us a number, 215,000 units. in terms of net sales, a touch ahead of estimates. volvo navigating an uneven demand picture. helped byruck orders improving economic prospects, including german confidence. whereersus u.s. markets demand has been flagging following a period of higher purchases. we will be speaking to the ceo of all the at 9:30 a.m. manus: let's get up to speed with the business flash. juliette saly is standing by. fog or rain? juliette: manus. for $4.3 billion. it would present them with a stronger foothold in america with access to a number of stronger pharmacies. europe's biggest publicly traded health care provider also made a smaller purchase to gain merck's portfolio, copycat versions of complex biotechnology drugs. ppg industries says it may launch a hostile takeover of sweetened offer doesn't bring the dutch chemical maker to the table. ceo told bloomberg you will take the proposal directly to investors if there is no agreement b

the icelandic krona is a minority currency, and the spread — that's the difference between buying andr deal for travellers. so sign up for a card with no fees for overseas use, if you don't already have one, and obtain a small amount of icelandic currency when you arrive, but rely on plastic for most of your spending. finally, lynne says she likes to plan well in advance, partly to give her time to save up for her trip, but also something to look forward to, and she asks... "i want to go away this december, ideally after christmas but in time to spend new year's eve in a resort. somewhere hot, with beautiful beaches." a caribbean island, south africa or india would meet those criteria, but prices are already very high. i've just checked flights from london to barbados in the caribbean, and travelling between christmas and new year for a week, the fare is already over £1,500 - that's $,1800. so, if you want something a little closer to home, i strongly recommend egypt for guaranteed winter sun at a budget price. for example, at the resort of hurghada, you can stay for a week, all—inclu

isra: the check krona surging to its highest level after the central bank and that's more than three-year-olde currency. what was behind today's decision and what is there to make of the market reaction? joining us with details is paul dobson. unexpectedt an decision but what was behind it? bank haveck central the cap in place to prevent excessive appreciation of the currency. from very lowd inflation. they wanted to stop the currency effect from preventing inflation coming back up to target. we have seen a pickup up over the last six months or so. the central bank was very clear that once they got back up to levels that were sustainable, it was going to be time topeg. so it was well telegraphed. we got a reaction as expected in the market? could say know, you it was a tame reaction. we saw a lot of inflows into the would and people said it be the same thing when the swiss removed there cap. i think it was because they're one way bets with some people expecting the currency to appreciate. we've got 1.5% or so stronger against the euro. no guarantee it will be stronger in the future. the two y

they saw sales hitting 3.75 krona ahead of expectations.ver the last three months having gained a fifth in terms of share value. >>> shares in logitech are trading near the top of the stoxx 600 after the company posted a 52% profit rise in fourth quarter earnings. the ceo, bracken darrell says they see strong growth due to an evolution in the product line. >> i wouldn't call it a cycle. there's a constant trend of opportunities. we moved from being a peripheral provider around the pc to being a peripheral provider for cloud that gives us more and more opportunities. it's very brouad. 95% of the biz as soon as growing. >> shares in dassault systems trading lower. the french software multinational said operating income jumped by 10% in the period as it grit upgraded its financial objectives. they target revenue growth of 6% to 7%. >>> a number of you writing through today. barry writes in and says trump is attempting to create an economic boom by creating corporate taxes while vastly increasing the deficit, all of which will lead to a bust wi

that is being raised by 7.5 billion swedish krona.a look at what is happening with the euro to see what is going on. bankdoes not sound like a that is backing off in any shape or form. that is the euro as you can see. it is having the desired effect from the riksbank. repo at the current low level longer. adding effectively to the stimulus. dissentersouple of opposed to the qb extension process we have coming through. not everybody is convinced. stocky --t key 30 minutes into the trading day. you've got to think about it is a big day for central banks right now. we're watching very carefully to see what is going on. the central bank history is rippling into other markets. just show you quickly what is going on with the pound. it is what -- this is what we're getting in terms of sterling which is trading 1.29, maybe 1.30. -- that is the highest level since october 3. 200 billiony back euros worth of shares the second half of the year. the loc. its guidance for double-digit growth this year and the next. joining us now is the company's

the ceo, the parent company of beers, krona, talking the border adjustment tax, jim cramer will bring those comments, plus the retail trader is back in full force with the ceo interactive broker says that is creating a quote volume for stocks. he'll be here to tell us what that means. first the s&p sitting near record highs, with the earning season rapidly approaching. what will investors expect? dom chu is in the room with more. >> reporter: this earnings season will be the markets since the last season. it's a gem sense of optimism. here is your early round-up of what you expect. according to thompson reuters if all earnings come in according to analysts estimates, s&p growth will be 10.1%. sales growth will come in at 7%. as for what's driving a good portion of that anticipated growth, well, remember how over the last couple of years, you were talking about the track in energy stocks, well, things have really flipped around, now because how bad things have been and the sense that you've hit a trough in earnings results, growth in this sector will be a huge thing year over year, ene

the swedish krona is bid this morning, danish krone bid. the euro really leading all of that. the euro is trading up 1.1%. remember, we have the tax story to get to from the other side of the pond, and we have the ecb to think about as well. let's show you what's going on elsewhere around the markets. matt has already walked in through the periphery trade we are seeing. the safety trade coming out, again, i work you back toward the ecb meeting coming up. well, down offer as over 3%. the real trade is going to come through at 8:00, 9:00 in paris, when we see this big move on equities. we are expecting massive movement. watch the french banks today, that will be the one trait that stands out. let's get the first word news update with juliette saly. juliette: guy, thank you. the white house says it will offer up an outline of its tax reform plan this week, but the specifics may not be ready until june. earlier president trump told his twitter followers "big tax reform and tax reduction will be announced on wednesday." budget director mick mulvaney says they expect to lay out the

billionooking at 1.6 3 swedish krona. estimates of 1.16.er sales also coming in as a beat. are really moving the stock price in terms of what we are getting on the earnings. i'm really, i wanted to show uss ssp.- show you this moving lower, simply on a cut to hold. matt: all right, thanks very much. let us get the bloomberg business flash. we go to juliette saly. juliet. juliette: thank you. paul tudor jones has a message for janet yellen and investors. be very afraid. the legendary traders as years blown interest rates have stocks rally wishing to a level not seen since 2000 right before dot from bubble burst. the value of the stock market relative to the sides of the economy should be "terrifying to a central banker." reckitt bankers have reported first-quarter revenue growth below estimates and maintained its outlook. condoms and direct why so cleaners said sales were slashes. nevertheless, it matched estimates. shares jumped in sydney as the australian government approved the hong kong billionaire is takeover bid. than 99% ofid more vot

that is the reason why yesterday, the swedish krona was outperforming, the polish zloty outperformingll change or we know how strong the new french president will become. francine: thank you so much. we will be back with hans redeker and jonathan fenby. quarterp, after first sales that missed estimates, we speak with the head of ericsson. this is bloomberg. ♪ francine: this is "bloomberg surveillance." i am francine lacqua in london. tom keene is in new york. we need to talk about ericsson. shares are following after the group -- shares 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, thr