Nokia reduced 10,000 jobs as losses grow

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Source: BBC
Nokia cut 10,000 jobs as losses in Q2 from its mobile operations are likely to be larger than initially estimated. The company also will implement structural changes worth about 1 billion Euros. The decision was difficult but it is the only way to ensure competitiveness in long-run, said Stephen Elop, the CEO of the company. Meanwhile, Nokia shares lost  about 70% since February last year.


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Thu, 14 Jun 2012 11:09:53 GMT

U.S. consumer prices experienced its first drop in two years

The U.S. living costs experienced its first drop in two years in the month of May due to the decline in oil prices; reinforcing Fed's anticipations that lower-priced commodities may facilitate lower inflation. According to Bloomberg News survey, the consumer price index declined 0.2% in May. The reduced prices in energy could ease the situation in the U.S. in terms of its labor market and

Thu, 14 Jun 2012 11:53:45 GMT

India's wholesale inflation rose less than expected in May

Indian wholesale inflation increased by 7.55% on an annual basis last month as compared to 7.23% in the preceding month. Experts surveyed by Dow Jones Newswires projected inflation rate to accelerate to 7.59% in May. Easing inflationary pressure and slowing growth raised hopes that RBA will lower the interest rates next week.

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