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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.

Jun 18, 2014

Finnish reasons for joining NATO ‘stronger than ever’: defense minister

HELSINKI (Reuters) – Finland should seriously consider joining NATO because of Russia’s aggressive actions in Ukraine and could hold a referendum on the issue some time after its 2015 election, its defense minister told Reuters.

Opinion polls show only one fifth of Finns favor joining the Atlantic alliance but Carl Haglund said he expected that to change if Finland, which shares a 1,300 kilometer border with Russia, had an honest and open debate about NATO membership.

Jun 18, 2014

Stubb starts talks to form next Finnish government

HELSINKI, June 18 (Reuters) – Alexander Stubb, set to become
Finland’s new prime minister, began talks on Wednesday on
forming a coalition government, which is likely to comprise the
same five parties as the outgoing one.

Stubb, new leader of the centre-right National Coalition
party, is set to succeed Jyrki Katainen, who is seeking a high
level job in the European Union. Katainen handed in his
resignation on Monday and is expected to step down next week.

Jun 14, 2014

Stubb to be Finland’s next PM, backs NATO membership

LAHTI Finland (Reuters) – Finland’s EU minister Alexander Stubb, who wants to cut taxes and take his neutral country into NATO, won the leadership of his ruling conservative party on Saturday, putting him on track to become prime minister later this month.

British and U.S. -educated Stubb, 46, a polyglot sportsman, will take over Finland’s five-party governing coalition after Prime Minister Jyrki Katainen steps down, possibly as early as next Thursday. Finland holds a general election in April 2015.

Jun 12, 2014

Finnish conservatives gather to choose next PM

HELSINKI (Reuters) – Finland’s conservative party will pick the country’s next prime minister this weekend when it selects a new leader to replace current prime minister and party head Jyrki Katainen, who steps down to seek a high-level EU job.

The new prime minister, to be picked from three hopefuls, will take over a country which has seen its economy contract for two years in a row, and may shrink again this year as economic indicators show wide-spread weakness.

Jun 10, 2014

ECB policymakers say can do more if needed

HELSINKI/BRATISLAVA (Reuters) – European Central Bank policymakers stressed on Tuesday that they can still do more to support the euro zone economy after last week announcing a package of measures to ward off the threat of deflation.

The central bank chiefs of Finland and Slovakia, Erkki Liikanen and Jozef Makuch, who both sit on the ECB’s 24-member Governing Council, said the bank could do more if needed.

May 21, 2014

Fortum dumps Areva-Siemens from nuclear plant modernization

HELSINKI (Reuters) – Finnish utility Fortum (FUM1V.HE: Quote, Profile, Research, Stock Buzz) has terminated a deal with engineering groups Areva (AREVA.PA: Quote, Profile, Research, Stock Buzz) and Siemens (SIEGn.DE: Quote, Profile, Research, Stock Buzz) and picked a rival to carry out modernization work on a nuclear plant, having decided the project would otherwise take too long.

State-controlled Fortum said on Wednesday it had chosen Britain’s Rolls-Royce (RR.L: Quote, Profile, Research, Stock Buzz) to deliver the next phase of automation systems for the Loviisa plant in southern Finland, in a project stretching through 2018.

    • 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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