Ericsson may merge with Nokia to help the Finish company get its eroding financial situation under control. Nokia needs an injection of cash after dumping millions into 5G technology. The Nokia board has several options to keep the company away from the bankruptcy courts. Merging with Ericsson is one of those options.
Nokia’s board may entertain a merger with Sweden’s Ericsson, but Nokia won’t be the same company. A merger will help stop Huawei’s quest to control the global 5G market, according to several tech executives. But a merger that big faces several obstacles.
The coronavirus virus continues to show its life-threatening face in the United States. The death-count from COVID-19 continues to shake consumer confidence, and the virus changes the way Americans deal with everyday life. Mr. Trump gave Mike Pence the coronavirus-slaying sword when he named Mike the COVID-19 czar. Pence doesn’t call himself a czar, but he does get virus outbreak information from all the states, and then he decides what information he wants to share with the public. But he has to get Trump’s okay first, according to the New York Times.
U.S. Doctors claim the CDC continues to withhold information about the virus that could help them treat, as well as slow down the spread of the coronavirus. Mr. Trump wants to stop the stock market implosion, so he wants to cherry-pick the information he shares with the public.
Congress and Trump’s critics continue to hold the president’s feet to the coronavirus fire while he continues to hold campaign rallies. Mr. Trump knows the economic erosion from the virus will hurt his reelection campaign.
COVID-19 already took a bite out of U.S. economic growth. China’s manufacturing and supply chain slowdown will cut 0.5% off U.S. Gross Domestic Product growth in the first quarter. Wall Street economists think GDP growth will drop to 1.5% at the end of March, and growth won’t recover over the next three quarters. That’s why Wall Street wants the Feds to cut interest rates in March.
Huawei violated Iranian sanctions in 2010, according to newly discovered company packing lists dated December 2010. Those packing lists include computer equipment from Hewitt Packard, and that is a clear violation of sanctions. Huawei’s CFO Meng Wanzhou is in Canadian custody for violating the sanctions against Iran, and this new discovery could hurt her chance to avoid extradition to the United States.