■Globalization
ICC urges new trade talks
The US, Japan and other industrialized nations must find ways to revive global trade talks that are stalling because of disputes over the Iraq war and farm aid, an International Chamber of Commerce official said. Lack of progress by the 30 trade ministers at the Organization for Economic Cooperation and Development (OCED) to bridge differences when they meet this week will reinforce concerns the current round of WTO talks won't reduce trade barriers. The OECD's two-day annual meeting starts today. "The world economy badly needs a shot in the arm and this would help business and consumer confidence," said Stefano Bertasi, deputy director of policy at the Paris-based International Chamber of Commerce, which represents thousands of companies in more than 130 countries. "Now that the war is over, it's time for countries to patch up their differences and coalesce around the WTO."
■ Communications
Ericsson announces job cuts
Ericsson AB, the world's largest maker of wireless networks, will cut as many as 13,000 more jobs, or a fifth of its workforce, after posting its eighth straight quarterly loss. The Swedish company's headcount will fall to 47,000 next year, Ericsson said in a statement. Ericsson had earlier said it would slash its workforce to below 60,000 from 105,000 at the end of 2000. Carl-Henric Svanberg, who took over as chief executive officer this month, is finding employee reductions announced by predecessor Kurt Hellstroem aren't enough to keep up with slumping demand. Industry sales of wireless networks, which accounts for two-thirds of Ericsson's revenue, will drop by more than 10 percent this year, the company said.
Agencies
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