Edition:
India

Tarmo Virki

UPDATE 2-Neles board backs Alfa offer over Valmet

12 Oct 2020

Oct 12 The board of Finnish engineer Neles is sticking with its recommendation for shareholders to accept a takeover offer from Alfa Laval, saying it does not have enough details on a rival merger proposal from Valmet to make a comparison. Valmet, the largest shareholder of valves maker Neles, approached Neles in September with a merger proposal, challenging a $2 billion bid from Swedish engineering group Alfa Laval.

Finnair to cut up to 1,000 jobs, seeks further savings

25 Aug 2020

Finnish national carrier Finnair plans to cut up to 1,000 jobs, or about 15% of its workforce, and seek further savings across its operations, joining airlines across the world in making cut backs to cope with the COVID-19 crisis.

Fortum second-quarter operating profit drops 11%, Russia weighs

19 Aug 2020

HELSINKI Finland's biggest utility Fortum reported an 11% fall in its underlying second-quarter operating profit on Wednesday, dented by low power prices and the impact of the new coronavirus on its Russian business.

Nordic IT firm TietoEVRY to pay dividend after second-quarter profit rise

24 Jul 2020

Nordic IT services provider TietoEVRY reported on Friday a rise in second-quarter underlying profit, helped by cost cuts following the takeover of EVRY business last year, and said it would pay a dividend.

UPDATE 2-Nordic IT firm TietoEVRY to pay dividend after Q2 profit rise

24 Jul 2020

July 24 Nordic IT services provider TietoEVRY reported on Friday a rise in second-quarter underlying profit, helped by cost cuts following the takeover of EVRY business last year, and said it would pay a dividend.

Finnair sees steep third-quarter loss, ramping up flights

24 Jul 2020

Finnair plunged to a second-quarter loss as the coronavirus pandemic kept most flights grounded, and said it would make a similar loss this quarter, despite an increasing number of flights.

UPDATE 1-Finnish retailer Stockmann sinks to Q2 loss

24 Jul 2020

July 24 Struggling Finnish retailer Stockmann swung to a second-quarter operating loss as the coronavirus outbreak kept customers away from its department stores, and said it was focused on reducing costs to stave off bankruptcy.

Top shareholder Valmet mum on increasing Neles stake

23 Jul 2020

Finnish engineering firm Valmet declined to say on Thursday whether it had further raised its stake in Neles as it reiterated its opposition to Alfa Laval's takeover bid for the valve maker.

Neste beats forecasts on renewables, shares at historic high

23 Jul 2020

Finnish biofuel producer and oil refiner Neste reported smaller-than-expected falls in second-quarter sales and profit on Thursday thanks to its renewables business, sending its shares up more than 14% to a record high.

UPDATE 3-Neste beats forecasts on renewables, shares at historic high

23 Jul 2020

* Shares jump over 14% (Adds CEO comment, details, updates shares)

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