Sakari's Feed
Aug 27, 2014

Finland cuts GDP forecast as it starts budget talks

HELSINKI, Aug 27 (Reuters) – Finland said it now expects its
economy to flatline this year, trimming a previous forecast for
slight growth, and could take on more debt as the impact of the
Ukraine crisis hampers its recovery.

Russia is one of Finland’s biggest export markets and the
conflict between Russia and Ukraine, which has weakened the
Russian economy and triggered tit-for-tat sanctions by Russia
and the West is hurting the Finnish economy.

Aug 8, 2014

EU sanctions on Russia could be gradually eased – Finland Foreign Minister

HELSINKI (Reuters) – The European Union could gradually ease its sanctions on Russia if Moscow works to de-escalate the Ukraine crisis, Finland’s foreign minister said in an interview on Friday.

Erkki Tuomioja also told Reuters the EU was unlikely to impose more sanctions in retaliation for Russia’s food import ban from the EU.

Aug 8, 2014

EU sanctions on Russia could be gradually eased -Finland Foreign Min

HELSINKI, Aug 8 (Reuters) – The European Union could
gradually ease its sanctions on Russia if Moscow works to
de-escalate the Ukraine crisis, Finland’s foreign minister said
in an interview on Friday.

Erkki Tuomioja also told Reuters the EU was unlikely to
impose more sanctions in retaliation for Russia’s food import
ban from the EU.

Aug 6, 2014

Finland fears sanctions crisis as Putin curbs food imports

ESPOO, Finland/MOSCOW, Aug 6 (Reuters) – Finland warned on
Wednesday that Russian retaliation against EU sanctions could
push its economy into crisis, while President Vladimir Putin
ordered curbs on food imports from countries that join the
Western action over Ukraine.

Despite the deepening crisis, Putin held back from imposing
any broad ban or restrictions that might cause food shortages or
risk stoking inflation.

Aug 6, 2014

Russia sanctions could spell economic crisis for Finland: PM

ESPOO Finland (Reuters) – Finland could face an economic crisis because of European Union sanctions against Russia and Helsinki will seek financial compensation from the EU if it is disproportionately hit by the measures, its prime minister said on Wednesday.

Last week, the EU imposed tough sanctions targeting Russia’s banking, oil and defence sectors over Moscow’s stance in the Ukraine crisis. The West accuses Moscow of actively backing pro-Russian rebels in eastern Ukraine and blames them for downing a Malaysian airliner last month. Russia denies the charges.

Jul 31, 2014

Metso earnings propel shares to 3-month high

HELSINKI, July 31 (Reuters) – Finnish engineering company
Metso reported strong quarterly profits and orders
and lifted its core earnings target to above 15 percent of sales
within three years, sending its shares up 9 percent to a
three-month high.

Metso makes most of its money from the mining industry,
which has been retrenching after a decade of heady expansion.
Weaker metals prices and an investor backlash over the scale of
investment forced major mining companies such as Rio Tinto
and BHP Billiton to slash spending.

Jul 24, 2014

Nokia’s fortunes brighten on heavy network spending

HELSINKI (Reuters) – Nokia surprised investors with strong quarterly earnings and raised its full-year profit margin forecast as network operators install more powerful systems to cope with surging mobile data traffic.

The Finnish company sold its once-dominant phone business to Microsoft in April, leaving it more reliant on a mobile network equipment business that shrank by 8 percent in the April-to-June quarter.

Jul 24, 2014

Nokia raises networks outlook after second-quarter profit beats estimates

HELSINKI (Reuters) – Finnish telecoms gear maker Nokia on Thursday reported a better-than-expected quarterly profit margin in its core networks unit due to cost cuts and said its expectations for full-year profitability have improved.

Nokia sold its phone division to Microsoft in April. After the deal, almost 90 percent of Nokia’s sales come from its network unit.

Jul 24, 2014

Nokia raises networks outlook after Q2 profit beats estimates

HELSINKI, July 24 (Reuters) – Finnish telecoms gear maker
Nokia on Thursday reported a better-than-expected
quarterly profit margin in its core networks unit due to cost
cuts and said its expectations for full-year profitability have
improved.

Nokia sold its phone division to Microsoft in
April. After the deal, almost 90 percent of Nokia’s sales come
from its network unit.

Jun 30, 2014

New Stora Enso CEO’s task to improve paper profits

HELSINKI, June 30 (Reuters) – Finnish pulp and paper maker
Stora Enso has promoted Karl-Henrik Sundstrom to the
chief executive post, charged with boosting profitability in
newsprint and magazine papers which have long been in decline as
readers move online.

The company, with annual sales of about 10 billion euros
($14 billion), has been struggling for years as paper
consumption has fallen and has already taken a series of
rationalisation measures.

    • About Sakari

      "I am part of the Reuters team covering the European Central Bank. Before moving to Frankfurt in early 2009, I was based in Helsinki, where I wrote about the Finnish economy and paper industry."
      Joined Reuters:
      2006
      Languages:
      Finnish, English, German, Swedish
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