Bureau Chief, Helsinki
Ritsuko's Feed
Nov 6, 2012

Finnish Fennovoima says new investor may be reactor supplier

HELSINKI (Reuters) – The new head of Finnish nuclear consortium Fennovoima, whose reactor project was thrown into doubt by the withdrawal of its biggest investor E.ON (EONGn.DE: Quote, Profile, Research, Stock Buzz) last month, said a new investor in the venture could also be a supplier for the planned plant.

Fennovoima is due to choose next year between potential suppliers Areva (AREVA.PA: Quote, Profile, Research, Stock Buzz) or Toshiba (6502.T: Quote, Profile, Research, Stock Buzz) to build its planned reactor in Pyhajoki, northern Finland.

Oct 28, 2012

Finnish eurosceptics gain local seats but lose momentum

HELSINKI (Reuters) – The anti-euro Finns Party won 12.8 percent of the vote in Finnish municipal polls on Sunday, according to early estimates, showing its popularity down from last year’s national election but still strong enough to pressure the pro-Europe government.

Prime Minister Jyrki Katainen’s conservative National Coalition party led with 21.4 percent of votes, followed by his coalition partners the Social Democrats with 20.2 percent, public broadcaster YLE estimated after more than half the votes were counted.

Oct 26, 2012

Finnair sees profit this year and plans more cost cuts

HELSINKI, Oct 26 (Reuters) – Finnair Oyj said it
was likely to turn profitable this year on an underlying basis
for the first time since 2008, as its cost-cutting plans were
proceeding faster than expected.

It also announced a new restructuring plan aiming to save an
additional 60 million euros in costs through 2014, on top of an
existing plan to cut 140 million by end-2013, to help pay for
new aircraft.

Oct 23, 2012

Nokia seeks $972 million from bonds to help drive fight back

HELSINKI (Reuters) – Mobile phone maker Nokia (NOK1V.HE: Quote, Profile, Research) plans to raise 750 million euros (610 million pounds) from bonds convertible into shares, seeking a cheap way to help finance its fight to claw back market share lost to Apple and Samsung.

Once the world’s biggest mobile phone maker, the Finnish firm has fallen far behind Apple’s (AAPL.O: Quote, Profile, Research) iPhone and Samsung’s (005930.KS: Quote, Profile, Research) Galaxy phones in the lucrative smart phone market, and is pinning its hopes for recovery on new models that go on sale next month.

Oct 23, 2012

Nokia seeks £612 million from bonds to help power fightback

HELSINKI (Reuters) – Mobile phone maker Nokia plans to raise 750 million euros (£611.89 million) by issuing convertible bonds to bolster its cash position as it battles to claw back market share lost to Apple and Samsung.

Once the world’s biggest mobile phone maker, the Finnish firm has fallen far behind Apple’s iPhone and Samsung’s Galaxy phones in the lucrative smartphone market, and is pinning its hopes for recovery on new models that go on sale next month.

Oct 23, 2012

Nokia seeks $1 bln from bonds to help power fightback

HELSINKI, Oct 23 (Reuters) – Mobile phone maker Nokia
plans to raise 750 million euros ($980 million) by
issuing convertible bonds to bolster its cash position as it
battles to claw back market share lost to Apple and
Samsung.

Once the world’s biggest mobile phone maker, the Finnish
firm has fallen far behind Apple’s iPhone and Samsung’s Galaxy
phones in the lucrative smartphone market, and is pinning its
hopes for recovery on new models that go on sale next month.

Oct 18, 2012

Nokia posts loss, future hinges on new Lumia sales

HELSINKI (Reuters) – Nokia reported smaller-than-expected losses for the third quarter but warned of tough times ahead, with investors saying the company’s survival depended on whether its new smartphones can claw back market share from Apple and Samsung.

The Finnish phone-maker reported an underlying loss before one-off items of 0.07 euros per share on Thursday compared to a profit of 0.03 euros a year earlier. The market expected a loss of 0.11 euros, according to a Reuters poll.

Oct 18, 2012

Nokia posts loss, raising stakes for new Lumia sales

HELSINKI (Reuters) – Nokia reported smaller-than-expected losses for the third quarter on Thursday but warned that there were tricky times ahead as it prepares to launch two new smartphones it hopes can claw back market share from Apple and Samsung.

The Finnish phone-maker reported an underlying loss before one-off items of 0.07 euros per share compared to a profit of 0.03 euros a year earlier. Analysts had forecast a loss of 0.11 euros in a Reuters poll.

Oct 12, 2012

Preview – Holiday sales critical for Nokia after weak quarter

HELSINKI (Reuters) – Nokia (NOK1V.HE: Quote, Profile, Research) is expected to report another quarterly loss next week, raising the stakes for its holiday-season sales battle with smartphone rivals Apple (AAPL.O: Quote, Profile, Research) and Samsung (005930.KS: Quote, Profile, Research).

The new top-of-the-range Lumia 820 and 920 smartphones that are vital to Nokia’s survival arrive in stores in November, just as people start buying presents for Christmas and other holidays.

Oct 12, 2012

Holiday sales critical for Nokia after weak quarter

HELSINKI (Reuters) – Nokia is expected to report another quarterly loss next week, raising the stakes for its holiday-season sales battle with smartphone rivals Apple and Samsung.

The new top-of-the-range Lumia 820 and 920 smartphones that are vital to Nokia’s survival arrive in stores in November, just as people start buying presents for Christmas and other holidays.