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Finland could hit recession early next year, the Finance Ministry said Tuesday, as it slashed forecasts for economic growth in 2012 to 0.4 percent from an earlier predicted 1.8 percent.
Nokia Corp. has applied to delist from the Frankfurt Stock Exchange because of falling trading volumes of its shares, the world's largest mobile phone maker said Thursday.
Finnair PLC on Thursday reported a plunge in third-quarter net profit to euro1.9 million ($2.6 million) despite a surge in sales as the airline was unable to meet savings targets.
Paper maker Stora Enso Oyj on Friday fell into a third-quarter net loss of $70 million (euro50 million) from a profit a year earlier as it was hit by high costs and negative exchange rates.
Finnish metals group Outokumpu Oyj said Thursday it will lay off 1,300 workers worldwide to cut costs and improve profitability as its third-quarter net loss doubled to euro135 million ($186 million).
The head of Nokia Corp. said Thursday that Steve Jobs will be remembered for generations for his simple and elegant designs, calling the Apple founder and competitor "a true visionary."
Once a timid and compliant member of the European Union, Finland has become one of its most rebellious.
Finnair said Thursday it will lay off 155 more workers as it streamlines operations to cut costs and retain its competitive edge.
Nokia Corp. on Thursday announced a further 3,500 job cuts by 2012 as it strives to save costs and restructure while its global market share falls due to stiff competition in the smartphone sector.
UPM-Kymmene plans up to 1,170 layoffs and mill closures in Finland and Europe as it slashes paper production by 1.3 million tons to cut costs and combat overcapacity.
Nokia on Wednesday unveiled three mass-market smartphones, as the troubled handset maker struggles against top-end competitors and cheaper producers in a market it once ruled as the innovative technology bellwether.
Nokia Corp. said Wednesday it has completed a deal to outsource Symbian software development to Accenture, including the transfer of 2,800 workers to the global management-consulting firm.
Finland's finance minister said Wednesday he has secured support for the country's approval of a Portugal bailout with certain conditions, removing a major hurdle for European plans to help the debt-stricken nation.
Finland's prime minister-elect delayed government formation talks on Tuesday, throwing more uncertainty into the eurozone's plans for Portugal's bailout and other financial aid to cash-strapped member countries.
Finnair PLC on Thursday reported a first-quarter net loss of euro33.8 million ($49.6 million) as the airline was hit by high fuel costs and the Japanese earthquake disaster.
Paper maker Stora Enso Oyj's first-quarter net profit surged 50 percent to euro156 million ($223 million), driven by higher paper prices and increased demand.
Finland's prime minister-elect said Tuesday his country would not block plans for helping debt-ridden Portugal although difficult coalition talks in Finland might mean changes to that bailout program.
A huge surge in support for a Finnish nationalist party that opposes eurozone bailouts is complicating Europe's plans to rescue Portugal and other debt-ridden economies.
When Finns elect a new Parliament on Sunday, they'll also effectively be voting on bailouts to Portugal and other cash-strapped European economies.
Hundreds of Finnish workers on Wednesday started a two week strike at plants owned by the world's largest magazine paper marker in an effort at speeding up stalled wage talks.
Halfway around the globe from Japan's atomic emergency, engineers building a cutting-edge nuclear reactor along Finland's icy shores insist the same crisis could never happen here.
Paper maker Stora Enso Oyj on Tuesday reported strong growth in fourth-quarter net profit to euro313 million ($424 million), with sales increasing more than 10 percent.
Sports equipment maker Amer Sports Corp., whose brands include Atomic, Salomon and Wilson, on Thursday reported that fourth-quarter profit rose 4 percent, less than markets were expecting, amid a 21 percent gain in sales.
Stora Enso Oyj and its Chilean joint venture partner Arauco will build a $1.9 billion pulp mill in Uruguay, the Finnish-Swedish paper maker said Tuesday.
Finnish paper maker UPM-Kymmene Corp. said Tuesday it will acquire smaller rival Myllykoski Corp. and German-based Rhein Papier GmbH, together valued at some euro900 million ($1.2 billion).
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