Wednesday 21 February 2018

Nokia shares soar despite €68m loss


FINLAND'S Nokia, struggling to maintain its place as the world's top mobile phone maker, yesterday posted a third-quarter loss of €68m, far smaller than analyst expectations. The company saw its share price soar more than 8pc on the news. Analysts had expected it to post a net loss of €321m for the quarter.

The result was still a far cry from the company's reported net profit for the July-September quarter last year of €529m, but a large improvement over the second quarter this year, when it saw a net loss of €368m.

'Times' newspapers to let 200 staff go


'THE Times' of London and 'The Sunday Times' are to lay off between 150 and 200 staff as the papers undergo a "re-organisation" to deal with the struggling economy and higher newsprint costs. The daily title is to lose 100 editorial staff as it tries to reduce its costs by 15pc. Last night parent company News International could not rule out compulsory job cuts as a result of this. The Sunday title is to lose 20 full-time staff and between 50 and 100 casual staff. The 20 full-time jobs will go through compulsory redundancies. The Irish operation will not be affected, however.

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