crude-exports

Ericsson defends practices as report questions revenue accounting

Swedish telecom equipment maker Ericsson defended its accounting practices after a newspaper questioned the way it booked future sales which had yet to be invoiced. The company denied any wrongdoing and said in an emailed statement that “the claim that Ericsson in an inaccurate way has reported revenues in the income statement is not true”. Ericsson referred to the annual report, which states that one of the conditions for reporting sales is when “collection is reasonably assured”

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Ericsson defends practices as report questions revenue accounting

crude-exports

Oil prices largely unchanged as market shrugs off Turkey coup bid

Oil prices were largely unchanged on Monday as traders shrugged off the impact of the attempted coup in Turkey, while disruptions to crude exports in Libya and upbeat U.S. economic data lent prices some support. “The market is looking past the coup,”

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Oil prices largely unchanged as market shrugs off Turkey coup bid