Bureau Chief, Helsinki
Ritsuko's Feed
Jun 19, 2013

Finland’s economy set to shrink as exporters struggle

HELSINKI, June 19 (Reuters) – Finland on Wednesday slashed
the outlook for its economy, predicting it will shrink for the
year, raising doubts about its reputation as one of the euro
zone’s healthiest economies.

The forecast added to concerns that traditional industries
such as paper were losing global competitiveness.

May 14, 2013

Nokia unveils new metal-body Lumia smartphone

LONDON/HELSINKI, May 14 (Reuters) – Nokia
unveiled a lighter, metal model in its Lumia smartphone range,
as it tries to catch the eye of buyers to close the huge market
lead of rivals Samsung and Apple Inc in the
lucrative handset market.

The Lumia 925 is the latest in Nokia’s range using
Microsoft’s Windows Phone software and will be sold for
469 euros ($610) before taxes and subsidies through carriers
such as Vodafone and China Mobile.

May 7, 2013

Nokia investors tell CEO their patience running thin

HELSINKI (Reuters) – Nokia investors told Chief Executive Stephen Elop on Tuesday that they were running out of patience with his flagging attempts to catch up with market leaders Apple and Samsung in smartphones.

Many shareholders at the annual general meeting in Helsinki said Elop should reconsider his 2011 decision to switch to the phone operating software made by his former employer Microsoft, which has left the company scrambling to get back in the race from a standing start with its new Lumia range of smartphones.

Apr 19, 2013

Nordic carriers Telia and Elisa hit by price pressures

STOCKHOLM/HELSINKI, April 19 (Reuters) – Nordic telecom
operators TeliaSonera and Elisa reported
weaker first-quarter profits, as competition intensified in
Europe’s mobile and internet services industry.

Both Telia and Elisa, like other European peers, have been
squeezed by price pressures, falling voice call revenues and a
failure to turn surging data traffic into profit growth.

Apr 19, 2013

TeliaSonera to focus on costs in flat market

STOCKHOLM/HELSINKI, April 19 (Reuters) – Nordic telecom
operators TeliaSonera and Elisa reported
weaker first-quarter profits, as competition intensified in
Europe’s mobile and internet services industry.

Both Telia and Elisa, like other European peers, have been
squeezed by price pressures, falling voice call revenues and a
failure to turn surging data traffic into profit growth.

Apr 18, 2013

Nokia sales tumble overshadows Lumia pick-up

HELSINKI (Reuters) – A big fall in sales of Nokia’s basic phones overshadowed a stronger performance from its Lumia smartphones in the first quarter, and it said it expected operating margins to deteriorate, sending its shares tumbling.

The Finnish mobile phone maker also reported an unexpected fall in sales at its previously upbeat equipment venture Nokia Siemens Networks.

Apr 15, 2013

Nokia seen curbing sales decline with Lumia’s China push

HELSINKI (Reuters) – Nokia’s push to expand sales of its Lumia smartphones in new markets such as China should help shrink an overall revenue decline and reduce its first-quarter loss, easing some of the pressure on CEO Stephen Elop.

Quarterly results on Thursday are also expected to show a turnaround at communications equipment venture Nokia Siemens Networks (NSN), bolstering Nokia’s bottom line and supporting the shares’ recovery from last year’s record low.

Apr 12, 2013

Talvivaara recovery hopes hit as investor sells out

HELSINKI, April 12 (Reuters) – One of Finnish miner
Talvivaara’s biggest shareholders has pulled
out of a fundraising and sold its shares after the latest waste
water leak at the company’s mine, raising doubts over its
recovery efforts.

Talvivaara shares fell more than 4 percent in Helsinki and
London on Friday after Finnish pension insurance firm Ilmarinen,
which had owned 5.08 percent of the company’s stock at the end
of March, said it had sold its investment.

Apr 4, 2013

Sale of Nokia Siemens stakes not likely for months: sources

COPENHAGEN/MUNICH (Reuters) – A six-year pact binding Siemens (SIEGn.DE: Quote, Profile, Research, Stock Buzz) and Nokia (NOK1V.HE: Quote, Profile, Research, Stock Buzz) in Nokia Siemens Networks expired on Thursday with sources at the two parent companies saying there was no sale in sight for at least the next few months.

The lapsing of the shareholder pact frees the co-parents to sell all or part of their 50-percent stakes in NSN without consulting the other. Some financial analysts who specialize in the technology sector had said a deal could be possible as early as this month after Siemens executives set up an exploratory committee earlier this year.

Mar 24, 2013

Euro zone bailouts getting harder to agree – policymakers

SAARISELKA, Finland, March 24 (Reuters) – Euro zone bailouts
are getting tougher to agree as opposition within creditor
nations grows and indebted states struggle to persuade citizens
to back austerity, policymakers said on Sunday.

At a meeting in Finnish Lapland this weekend, attendees
including Ireland’s Europe Minister Lucinda Creighton and host
Prime Minister Jyrki Katainen sounded confident that Cyprus
would secure a bailout deal to avoid financial collapse.