A view of Nokia head offices in Espoo April 14, 2015. REUTERS/MARKKU ULANDER/LEHTIKUVA
(Reuters) – Finland’s Nokia on Wednesday confirmed it had started a strategic review of its map business, HERE, after announcing a takeover of network equipment rival Alcatel-Lucent.
“The Board of Directors of Nokia believes this isthe right moment to assess the position of HERE within theproposed new Nokia business,” the company said in a statement, adding that the review may or may not result in any deal.
A source told Reuters on Friday that Nokia had hired a financial adviser to explore a sale of the unit.
The unit is estimated to be worth 4.4 billion euros ($4.68 billion) to 6.9 billion euros ($7.34 billion), based on a sum-of-parts calculation, according to Inderes Equity Research.
(Reporting by Jussi Rosendahl; Editing by Clarence Fernandez)
Several hundred Nokia workers protested in Paris on Wednesday (July 8) against plans to cut over 1,200 jobs in its French subsidiary Alcatel-Lucent International.
Nokia has said most of the layoffs would come from research and development (R&D) teams. Unions say this is incomprehensible when Europe is preparing to deploy the next generation mobile network.
Member of the French parliament from the ruling party LaRem, Eric Bothorel, who was elected in the northwestern region of Côtes-d’Armor, where there are planned job cuts, said Nokia’s announcement came just after the date set releasing the company from commitments to preserve jobs.
Nokia was bound to job retention commitments when it acquired Alcatel Lucent in 2015. They expired in June.
Bothorel said the move was “making fun of the government” as it targeted people who were recently hired.
Nokia says it will continue to be a major employer in France with a strong foothold in R&D. (Reuters)
President Donald Trump urged Americans on Monday (March 16) to halt most social activities for 15 days and not congregate in groups larger than 10 people in a newly aggressive effort to reduce the spread of the coronavirus in the United States.
Announcing new guidelines from his coronavirus task force, the president said people should avoid discretionary travel and not go to bars, restaurants, food courts or gyms.
As stocks tumbled, Trump warned that a recession was possible, a development that could affect his chances of re-election in November. The Republican president said he was focused on addressing the health crisis and that the economy would get better once that was in line.
The task force implored young people to follow the new guidelines even though they were at lesser risk of suffering if they contract the virus. Older people, especially those with underlying health problems, are at the greatest risk if they develop the respiratory disease.
Reporters staggered their seating, sitting in every other seat in the White House briefing room, to follow social distancing measures.
Trump said the worst of the virus could be over by July, August or later. He called it an invisible enemy.
The president has taken criticism for playing down the seriousness of the virus in the early days of its U.S. spread. On Monday, when asked, he gave himself a good grade for his response.
“I’d rate it a 10. I think we’ve done a great job,” he said.
Trump said a nationwide curfew was not under consideration at this point.
Normally a cheerleader for the U.S. economy, he acknowledged the possibility of a recession while brushing off another dramatic decline on stock markets as investors worried about the virus.
“We’re not thinking in terms of recession, we’re thinking in terms of the virus. Once we stop, I think there’s a tremendous pent up demand, both in terms of the stock market and in terms of the economy,” Trump said. The president has long considered soaring stock markets to be a sign of his administration’s success.
Trump said the administration had talked regularly about domestic travel restrictions but hoped not to have to put such measures in place.
He said he thought it would still be possible for G7 leaders to meet at the Camp David retreat in Maryland in June. Trump upset European countries, which make up a large part of the G7, by instituting travel restrictions from European countries without consulting with them first. (Reuters)
A handful of people were seen on the streets of Milan on Wednesday morning (March 12) following stringent measures imposed to contain the coronavirus.
Shops and restaurants closed, hundreds of flights were cancelled and streets emptied across Italy on Tuesday (March 10), the first day of an unprecedented, nationwide lockdown imposed to slow Europe’s worst outbreak of coronavirus.
Just hours after the dramatic new restrictions came into force, health authorities announced the death toll had jumped by 168 to 631, the largest rise in absolute numbers since the contagion came to light on Feb. 21.
The total number of confirmed cases rose at a much slower rate than recently seen, hitting 10,149 against a previous 9,172, but officials warned that the region at the epicentre, Lombardy, had provided incomplete data.
The government has told all Italians to stay at home and avoid non-essential travel until April 3, radically widening steps already taken in much of the wealthy north, which is the epicentre of the spreading contagion. (Reuters)
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