On Wednesday, Finland trimmed the outlook for its economy, by predicting it will shrink for the current year, this news raised concerns about its reputation as one of the euro zone’s healthiest economies. Finnish handset maker company Nokia Corporation (ADR) (NYSE:NOK) has struggled to catch up after falling behind Apple Inc. (NASDAQ:AAPL) and Samsung in smartphones.
Finland’s paper industry has been hit by a decline in demand from print media aimed the customer and advertisers have shifted to new medium like Internet.
On Tuesday, the Europe’s second-biggest paper maker, Stora Enso said that it plans to slash 2,500 jobs in its latest round of consolidation to deal with slumping paper demand.
Finland is currently among the euro zone’s strongest economies, but the weaker growth and the costs of caring for an increasingly ageing population, are expected to weigh on Finland’s public finances.
It has been forecasted by the finance ministry, that country’s debt-to-GDP ratio would increase to 59.9% in 2015 from an expected 57.1%in 2013.
It has been predicted by the Finland’s finance ministry that, it now expects Finland’s gross domestic product to trim 0.4% this year, instead of growing 0.4% as previously forecast in March. It also slashed its 2014 growth forecast to 1.2% from a previous 1.6%.
Apple Inc. (NASDAQ:AAPL) stock fell -0.05% in last trading session and is closed $ 432.00 with average volume 14.00 million shares, in pre-market trading AAPL stock increase 0.08%. Apple Inc generated income of $ 39.67 billion in last twelve months and sales of $ 169.10 billion. Analytic Ratios; Price to sales ratio of AAPL in past twelve months was calculated as 2.40 and price to cash ratio as 10.37. AAPL return on equity ratio is recorded as 32.20% and its return on assets is 21.70%.
Nokia Corporation (ADR) (NYSE:NOK) shares advanced 4.61% in last trading session and is closed $ 3.69 with average volume 28.56 million shares, in pre-market trading NOK stock fell -1.04%. Nokia Corporation generated income of $ -3268.40 million in last twelve months and sales of $ 38.27 billion. Analytic Ratios; Price to sales ratio of NOK in past twelve months was calculated as 0.37 and price to cash ratio as 1.82. NOK return on equity ratio is recorded as -58.90% and its return on assets is -16.00%.