Nikkei Widens Losses to 6% in Volatile Trade
Alcatel Lucent SA
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Stocks ended near session lows Thursday pressured by a handful of weak economic data and as some Fed officials stated their openness to tapering the central bank's bond-buying program in the coming months.
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Indian mobile phone carrier Reliance Communications Ltd said on Monday that it has awarded an eight-year contract valued at $1 billion to telecommunications equipment maker Ericsson to manage its networks in the northern and western states of India.
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Stocks finished well off their earlier lows in volatile trading Thursday, as techs recovered in the final minutes of trading, but brewing worries over Europe kept a damper on gains.
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FRANKFURT- Banks' early repayment of a chunk of three-year crisis loans they took from the European Central Bank reflects improved financial market confidence, but the bank will continue to ensure ample liquidity, ECB chief Mario Draghi says. (ECB-RATES/, expect by 1430 GMT/ 9.30 AM ET, by Paul Carrel, 660 words).
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U.S. stock index futures pared their gains Thursday following policy announcements from both the Bank of England and the European Central Bank and as investors digested a pair of mixed economic reports.
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After five years at the helm of telecoms company Alcatel-Lucent, CEO Ben Verwaayen has announced he is to step, down telling CNBC that the execution required to complete the firm's turnaround may be beyond his abilities.
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FRANKFURT- Mario Draghi faces a grilling over the European Central Bank's sensitivity to the euro's sharp rise and his connection to an Italian banking scandal at the central bank's monthly meeting when the ECB is almost certain to hold interest rates unchanged. (ECB-RATES/, expect by 1030 GMT/ 5.30 AM ET, by Paul Carrel, 660 words).
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London, Feb 7- The euro and shares inched higher on Thursday, as investors awaited the European Central Bank's policy meeting later in the day and President Mario Draghi's views on the region's growth outlook.
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*1.4 bln euro writedown on mobile, optics businesses. PARIS, Feb 7- Telecom equipment maker Alcatel-Lucent said its chief executive was leaving after it swung to a net loss of 1.37 billion euros for 2012, hit by lower sales in Europe and China and a writedown of its wireless and optics businesses.
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Ben Verwaayen, CEO of Alcatel Lucent, tells CNBC that he is stepping down as CEO as the company has been stabilized and the next three years are all about execution.
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Some of ALU's systems are superior to Cisco and shares can be had cheap. So why not?
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STOCKHOLM, Jan 31- A sales recovery at Ericsson's key networks unit raised hopes on Thursday the world's top mobile telecom gear maker is beginning to shake off the global downturn.
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*Spain, Italy amongst weakest countries. LONDON, Jan 29- European companies are having to reassess the cost of a rush of takeovers in more buoyant times as regulators call time on outdated asset values.
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PARIS, Jan 28- France has stepped up support for Anne Lauvergeon as the potential new chairwoman of EADS, injecting fresh uncertainty into efforts to free the European aerospace group's top management from state interference.
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European shares closed higher Thursday, with the market taking direction from an opening rise on Wall Street where the S&P 500 hit the 1,500 mark for the first time since December 2007.
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Companies in U.S., Asia, Brazil to lead on spending, Europe stalled. PARIS, Jan 23- Telecom network operators are expected to increase their spending on equipment this year, giving a boost to vendors like Ericsson and Alcatel-Lucent after economic weakness caused a sharp market contraction in 2012..
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PARIS, Jan 22- In theory, a new ownership structure means European planemaker EADS is no longer controlled by Paris and Berlin, free to pick the very best person in the world for the vacant job of board chairman.
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Huawei Technologies, the world's No.2 telecom equipment maker and the sixth largest mobile phone vendor, posted a 33 percent rise in net profit in 2012, reversing a fall in 2011 thanks to new telecom projects and smartphone sales.
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*Upgrade sparks short-covering on Alcatel-Lucent stock. Switzerland's SMI benchmark surged 2.9 percent, catching up with the European market rally on Wednesday sparked by Washington's deal to avoid the so-called fiscal cliff, with UBS up 4.1 percent and Roche up 3 percent.
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NEW YORK, Dec 27- As Marvell Technology Group Ltd embarks on a legal process to void a $1.17 billion damages verdict in a patent dispute with Carnegie Mellon University, it has some reasons to be optimistic.