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Nokia Profits Up Despite Pandemic as New CEO Takes Over

HELSINKI—Nokia has reported better than expected second-quarter earnings on the back of improved mar..

Published

2 years ago

August 1, 2020

HELSINKI—Nokia has reported better than expected second-quarter earnings on the back of improved margins for telecoms equipment and software, despite the coronavirus crisis causing a substantial drop in revenue.

The Espoo, Finland-based maker of new-generation 5G mobile and other networks said on Friday that its net profit for the April-June period was up 22 percent at 316 million euros ($376 million). Sales were down 11 percent at 5.1 billion euros ($6 billion).

CEO Rajeev Suri said in a statement that the majority of the drop in revenue was “the result of COVID-19 as well as a sharp decline in China based on the prudent approach we have taken in that market.”

Nokia estimated that the COVID-19 crisis hurt its net sales by about 300 million euros ($353 million) in the second quarter and about 500 million euros ($589 million) in the first half of the year.

“We expect that the majority of sales missed in the [second] quarter due to COVID-19 will shift to future periods,” Suri said.

Though the company warned it was expecting to lose some market this year, it gave an upbeat outlook for its main network business and lifted its profit and cash flow guidance for full year 2020.

Suri said that Nokia has now concluded 83 commercial deals for 5G, the new network technology that allows ultra-fast downloading speeds among other things. Along with Chinas Huawei and Swedens Ericsson, Nokia is one of the three main providers of 5G networks. Huawei is at the center of a U.S.-China dispute over technology, with the Trump administration saying it can help the Chinese government spy on people, a claim the company denies.

Friday marked the last day as a CEO for Suri, a Nokia veteran with 25 years in service and the head of the company since 2014, as his appointed successor Pekka Lundmark takes over on Aug. 1.

Lundmark, 56, is the former CEO of the Finnish energy group Fortum and worked at Nokia between 1990 and 2000.

In May, Sari Baldauf was named as the companys new chair. Baldauf headed Nokias network business from 1998 until 2005 and Lundmark was her team colleague in the 1990s.

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The Epoch Times

World News

Burkina Faso military says it has seized power

Published

7 months ago

January 25, 2022

Europe Disk

The military in Burkina Faso says it has seized power and overthrown President Roch Kaboré.

The announcement was made on state television by an army officer, who cited the deteriorating security situation for the military takeover.

Mr Kaboré had faced growing discontent over his failure to stem an Islamist insurgency.

His whereabouts are unclear, but the officer said that all those detained were in a secure location.

The coup comes a day after troops seized barracks, and gunshots were heard in the capital, Ouagadougou.

Earlier, the ruling People’s Movement for Progress (PMP) party said that both Mr Kaboré and a government minister had survived an assassination attempt.

On Sunday, mutinying troops demanded the sacking of military chiefs and more resources to fight militants linked to the Islamic State (IS) group and al-Qaeda.

The army statement said Mr Kaboré had failed to unite the nation and to deal effectively with the security crisis which “threatens the very foundations of our nation”.

The statement was issued in the name of a group not heard of previously, the Patriotic Movement for Safeguard and Restoration or MPSR, its French acronym.

Although read out by another officer, the statement was signed by Lt-Col Paul-Henri Sandaogo Damiba, who is believed to be the coup leader and a senior commander with years of experience fighting the Islamist militants.

The statement said that parliament and the government had been dissolved, and the constitution suspended, but promised a “return to constitutional order” within a “reasonable time”.

The military also announced the closure of Burkina Faso’s borders.

UN chief António Guterres condemned the coup and called on the military to “ensure the protection and the physical integrity” of Mr Kaboré.

The African Union and regional bloc, Ecowas, have also condemned the forceful takeover of power, with Ecowas saying it holds the soldiers responsible for the deposed president’s well-being.

Earlier, the news of his detention was received with cheers and celebrations in Ouagadougou, reports the BBC’s senior Africa correspondent Anne Soy.

Earlier video footage from the capital appeared to show armoured vehicles – reportedly used by the presidency – peppered with bullet holes and abandoned in the street.

Mobile internet services have been disrupted, though fixed-line internet and domestic wi-fi are working.

Mr Kaboré has not been seen in public since the crisis began, but two posts appeared on his Twitter account before the officer announced he had been toppled.

The later one called on those who had taken up arms to lay them down “in the higher interest of the nation”. Earlier, Mr Kaboré congratulated the national football team on their win in an Africa Cup of Nations match.

It is unclear who posted the tweets.

Some security sources say the president and other government ministers are being held at the Sangoulé Lamizana barracks in the capital.

On Sunday, hundreds of people came out in support of the soldiers and some of them set fire to the ruling party’s headquarters.

The coup comes a week after 11 soldiers were arrested for allegedly plotting to overthrow Mr Kaboré.

But discontent has been growing in Burkina Faso over the government’s failure to defeat an Islamist insurgency in the country since 2015.

That escalated in November, when 53 people, mainly members of the security forces, were killed by suspected jihadists. And on Saturday, a banned rally to protest against the government’s perceived failure led to dozens of arrests.

Mutinying soldiers made several demands, including: the removal of the army’s chief of staff and the head of the intelligence service; more troops to be deployed to the front line; and better conditions for the wounded and soldiers’ families.

Similar troubles in neighbouring Mali led to a military coup in May 2021 – one that was broadly welcomed by the public.

Burkina Faso is now the third West African country to witness a military takeover in recent years. Guinea and Mali have had sanctions imposed on them by Ecowas to press them to return to constitutional order.

SOURCE

World News

India Covid: Booster shots start for priority groups as cases surge

Published

7 months ago

January 10, 2022

Europe Disk

India has begun giving booster doses of the Covid-19 vaccine to priority groups amid a surge in infections.

Health and frontline workers and people above 60 years old with comorbidities are currently eligible to take the jab.

The drive began as India battles a spike in Covid cases fuelled by the Omicron variant of the coronavirus.

Early studies from other countries have suggested that a booster vaccine may provide more protection against Omicron.

The highly transmissive Omicron variant was first discovered in South Africa in November.

Since then, several countries have expanded their booster programmes or shortened the gap between jabs to shore up protection against the variant.

In India, the booster shot – dubbed a “precaution dose” by Prime Minister Narendra Modi – will be the same vaccine that was given to a person for their first and second doses.

India has been mainly administering two locally-manufactured vaccines, Covishield and Covaxin, since its vaccination drive began in January 2021.

On Sunday, India reported more than 179,000 new infections for the past 24 hours, driven by a steep rise in cases in big cities such as the national capital Delhi and financial centre Mumbai.

On the same day, Mr Modi chaired a review meeting with top officials, and asked for “technical support” to be provided to states reporting more cases.

The government had begun administering vaccines to 15-18-year-olds last week – it has said that 31% of Indians in this age group have been given the first dose so far.

More than 91% adults have been partially vaccinated so far, while 66% have received both doses.

But experts say that still leaves millions of unvaccinated people – many with underlying health problems that could increase the severity of the infection – at risk.

The spread of Omicron has also increased worries – India has confirmed a total of 4,003 cases of Omicron, with Maharashtra state reporting the highest (1,126), followed by Rajasthan (529) and Delhi (513).

The country has so far recorded more than 35 million Covid cases and about 483,000 deaths from the virus.

Last year, a devastating second wave overwhelmed the country’s health system, leading to a shortage in oxygen, hospital beds and critical drugs.

SOURCE

Woman

Emily in Paris Fans Think Kim Cattrall Will Make an Appearance in Season 3

Published

8 months ago

January 2, 2022

Europe Disk

instyle– Fans are speculating a major pop-culture crossover in season 3 of Emily in Paris. After Kim Cattrall infamously turned down the chance to revive her Sex and the City character, Samantha Jones, for the reboot, fans couldn’t help but wonder if Jones could make an appearance in the next season of the cult-favorite Netflix show.

If you’re watching And Just Like That … (and even if you’re not), you know that Cattrall’s character is supposedly off working her public relationships magic in London, England, just a quick trip from Emily (Lily Collins) and her booming marketing firm, Savoir.

RELATED: Everything You Need to Know About Emily in Paris Season 2

Fans noticed major parallels between the characters, from their location to their sex positivity to their career in communications. Plus, both series were created by big-time Hollywood producer Darren Star — with SATC costume designer Patricia Field now responsible for Emily’s kitschy, Parisian looks — making a collab that much more believable.

One Twitter user wrote, “Current theory: Samantha has supposedly moved overseas, hence her lack of presence in the new SATC TV series. Then she shows up by total surprise in a crossover episode of EMILY IN PARIS. I would watch Samantha try to tolerate Emily, 100 percent.”

Collins fueled the flames by teasing a possible season 3. The actress posted photographs from her Vogue Hong Kong cover featuring a jet-black shag haircut and dark makeup writing, “Season 3 pivot?? Who’s with me? …” Collins used the same caption when reposting a fan’s Tweet with the magazine images that read, “Emily in Berlin.”