Bureau Chief, Helsinki
Ritsuko's Feed
May 31, 2011

Nokia drops targets, shares slump to 13-year low

HELSINKI, May 31 (Reuters) – Mobile phone maker Nokia Oyj
(NOK1V.HE: Quote, Profile, Research, Stock Buzz) abandoned hope of meeting key targets just weeks
after setting them, raising questions over whether its new boss
can deliver on the turnaround he promised in February.

Its shares tumbled nearly 20 percent to their lowest in some
13 years.

Nokia, once the undisputed leading force in the mobile phone
market, has seen its position threatened in recent years,
particularly losing ground in the smartphone sector to Apple
Inc’s (AAPL.O: Quote, Profile, Research, Stock Buzz) iPhone and Google Inc’s (GOOG.O: Quote, Profile, Research, Stock Buzz) Android devices.

May 25, 2011

Greek standoff, IMF demands rattle euro zone

ATHENS/HELSINKI (Reuters) – Failure to find political consensus on austerity in Greece threatened to plunge the euro zone deeper into crisis on Wednesday, eclipsing Finnish approval of EU/IMF aid for Portugal after weeks of bitter debate.

The Greek government denied newspaper reports that it was poised to call a referendum on additional austerity measures to deal with its debt crisis. Instead, Prime Minister George Papandreou said he was still seeking agreement.

May 13, 2011

True Finns out of government but euroscepticism to stay

HELSINKI (Reuters) – Even with Finland finally agreeing to support Portugal’s bailout and the plan’s most ardent opponents –the True Finns– staying out of government, euroscepticism is likely to remain strong.

The True Finns party dropped out of government talks this week after refusing to help aid debt-burdened economies, a stance that catapulted it from obscurity to the No. 3 spot in parliament in April elections.

May 13, 2011

Analysis – True Finns out of gov’t but euroscepticism to stay

HELSINKI (Reuters) – Even with Finland finally agreeing to support Portugal’s bailout and the plan’s most ardent opponents –the True Finns– staying out of government, euroscepticism is likely to remain strong.

The True Finns party dropped out of government talks this week after refusing to help aid debt-burdened economies, a stance that catapulted it from obscurity to the No. 3 spot in parliament in April elections.

May 11, 2011

Finland to help bail out Portugal – PM-elect

HELSINKI, May 11 (Reuters) – Finland will help bail out
Portugal, its prime minister-in-waiting said on Wednesday after
securing an agreement with the Social Democratic party.

“The National Coalition Party and the Social Democratic
Party have agreed to favour participation in Portugal’s rescue,”
Jyrki Katainen, finance minister and leader of the National
Coalition, told reporters.

May 6, 2011

Euro c.bankers welcome oil drop, no policy shift signal

HELSINKI, May 6 (Reuters) – Euro zone central bankers
welcomed a plunge in oil and commodities prices on Friday,
saying it could cool inflation, but gave no sign they would
change their determination to tighten monetary policy this year.

“The fall in the price of oil and commodities is good to
take for all reasons, certainly for inflation, not only
immediately but with the danger of second-round (effects) in the
medium run,” European Central Bank President Jean-Claude Trichet
said.

May 6, 2011

Euro central banks welcome oil drop, no sign of policy shift

HELSINKI (Reuters) – Euro zone central bankers welcomed a plunge in oil and commodities prices on Friday, saying it could cool inflation, but gave no sign they would change their determination to tighten monetary policy this year.

“The fall in the price of oil and commodities is good to take for all reasons, certainly for inflation, not only immediately but with the danger of second-round (effects) in the medium run,” European Central Bank President Jean-Claude Trichet said.

May 6, 2011

Euro c.banks welcome oil drop, no sign of policy shift

HELSINKI, May 6 (Reuters) – Euro zone central bankers
welcomed a plunge in oil and commodities prices on Friday,
saying it could cool inflation, but gave no sign they would
change their determination to tighten monetary policy this year.

“The fall in the price of oil and commodities is good to
take for all reasons, certainly for inflation, not only
immediately but with the danger of second-round (effects) in the
medium run,” European Central Bank President Jean-Claude Trichet
said.

Apr 18, 2011

True Finns set for government, see EU bailout changes

HELSINKI (Reuters) – The True Finns, the anti-euro party voted into a powerful role in the Helsinki parliament at the weekend, expect the European Union to change plans for a bailout of Portugal, its leader said on Monday.

“Of course there will have to be changes,” Timo Soini told reporters a day after his party more than quadrupled its share of the vote to turn Finland’s traditionally pro-EU politics on their head by finishing a close third in the election.

Apr 18, 2011

True Finns set for govt, see EU bailout changes

HELSINKI, April 18 (Reuters) – The True Finns, the anti-euro
party voted into a powerful role in the Helsinki parliament at
the weekend, expect the European Union to change plans for a
bailout of Portugal, its leader said on Monday.

“Of course there will have to be changes,” Timo Soini told
reporters a day after his party more than quadrupled its share
of the vote to turn Finland’s traditionally pro-EU politics on
their head by finishing a close third in the election.