World Bulletin / News Desk
Nokia Chief Executive Stephen Elop promised to unveil a new smartphone using Microsoft's latest Windows 8 software soon, raising the prospect it will be launched in early September before rival Apple promotes its new iPhone.
The Finnish company, which is fighting for survival after losing out to rivals in the lucrative smartphone business, is due to hold a trade show in Helsinki on September 5-6, just before an Apple event on September 12 where the U.S. competitor could announce a redesigned iPhone.
Nokia, the world's second-largest cellphone maker, has not commented on what it will announce at the Nokia World event, but business magazines have said it will unveil the new Windows 8 smartphones.
Elop, in Oslo for a meeting with Telenor Chief Executive Jon Fredrik Baksaas, did not deny a September launch but would only say Windows 8 smartphones would be released "relatively near term."
Nokia shares, which have been trading near all-time lows, rose sharply after Elop's comments and traded up 7.5 percent at 0924 GMT.
Elop, who was brought in from Microsoft in September 2010 to lead the company's battle against increasingly dominant Apple and Samsung, said he was sticking to his strategy of using Microsoft software despite the limited success of Windows Phones so far.
Nokia decided in early 2011 to ditch its home-grown Symbian software for a deal with Microsoft, aiming to catch up with Apple and Google in smartphones.
"I don't think about rewinding the clock and thinking about competing elsewhere," he told reporters.
"In today's war ... (between) Android, Apple and Windows, we are very clear, we are fighting that with the Windows phone."
Nokia lost 1.53 billion euros in the second quarter and sold just 4 million Windows phones in the period, well short of Apple's sales of 26 million iPhones and Samsung's 50 million smartphones.
Consumer prices increased by 1.6 percent year-on-year last month, Destatis reported in preliminary data.
The single currency powered to more than one-year highs Wednesday after European Central Bank boss Mario Draghi offered a more hawkish outlook for the eurozone than expected, with traders brushing off later attempts by his officials to play down his remarks.
The euro reached $1.1388 Wednesday, the highest level since a year earlier.
The IMF warned that "significant policy uncertainties imply larger-than-usual" risks to the US outlook on either side, since spending cuts could lower growth, while tax cuts could provide stimulus and expand the economy.
Now the VNO-NCW is calling for the Dutch parliament to reverse a 2015 decision to introduce a cap of 20 percent of annual pay on the bonuses which can be paid out to top managers in the banking industry.
The state-owned energy trading firm Lietuvos Duju Tiekimas said it signed the deal with the Texas company Cheniere Energy.
Adding to the upward pressure for oil is the crisis in the Middle East, where a Saudi-led blockade of Qatar has fuelled concerns of possible conflict.
Bourses in both Paris and Frankfurt dipped after a report from data monitoring company IHS Markit showed Eurozone private sector business activity slowed sharply in June while staying in expansion mode.
Analysts said that while the downturn in the headline readings was disappointing, the economy continued to put in a strong performance.
Crude prices stabilised after diving more than two percent on Tuesday on increasing fears of a global supply glut, as continued production in the US and elsewhere offsets an OPEC output cut deal.
Move estimated to save company $1B in investment costs
However, most other regional markets struggled after Monday's healthy gains, despite being given a positive lead from Wall Street where the Dow and S&P 500 closed at fresh record highs.