International News

  Bloomberg Finland, locked in a downward economic spiral since Nokia Oyj’s fall from atop the smartphone world, cheered the announcement that handsets bearing the company’s badge will reappear, and with them the possibility of much-needed jobs. The country, which eked out 0.5 percent growth in 2015 after three years of recession, took a massive hit when Espoo-based Nokia surrendered ...

  New York / BLOOMBERG Federal Reserve officials want to raise interest rates in June. Now, it is up to the U.S. economy to confirm their view that slow growth in the first quarter was temporary. Minutes of the April 26-27 Federal Open Market Committee meeting released on Wednesday in Washington used the word “June” six times in a policy ...

Bloomberg Tesla Motors Inc. has set an unrealistic goal for itself and will probably miss 2018 production forecasts by a whopping 66 percent, according to a report by Goldman Sachs Group Inc. Should that dissuade you from buying the stock? Apparently not—the bank’s analysts upgraded their recommendation from “Neutral” to “Buy.” This is the sort of wild disconnect that Tesla ...

  Bloomberg Brazil’s Acting President Michel Temer is studying the sale of state assets to shore up public accounts, as well as an audit of the country’s largest savings bank, said a government official with direct knowledge of the matter. A government task force will consider selling stakes in companies such as power utility Furnas Centrais Eletricas SA and BR ...

  Bloomberg Argentina set rules for its first planned auction for renewable energy, an event that’s expected to spur as much as 1 gigawatt of new capacity led by wind and solar farms. The auction may drive as much as $2 billion in investments, the government said in an e-mailed statement. The deadline to submit proposals is Aug. 22 and ...

  Bloomberg The New York Stock Exchange suspended U.S. trading of Brazil’s state-owned utility Eletrobras on Wednesday and began delisting procedures after the company said it would miss a deadline to submit its 2014 financial results. Centrais Eletricas Brasileiras SA, as the utility is formally known, has already delayed the filing to the U.S. Securities and Exchange Commission three times ...

  Tokyo / AFP Japan sidestepped a recession after its economy grew in the first quarter, preliminary data showed on Wednesday, but efforts to cement recovery in the world’s number three economy were gaining little traction. Gross domestic product expanded by 0.4 percent between January and March — or 1.7 percent at an annualised rate — after a contraction in ...

Tokyo / Bloomberg Suzuki Motor Corp. said it used fuel-economy testing methods that weren’t compliant with Japan regulations on about 2.1 million vehicles sold locally. The automaker said it won’t need to revise the ratings, as proper testing showed earlier results were within an acceptable range of deviation. Suzuki used a tunnel to test the fuel efficiency of its vehicles ...

  Tokyo / Bloomberg Mitsubishi Motors Corp. President Tetsuro Aikawa will step down as the Japanese automaker looks to regroup from its widening fuel economy testing scandal with the backing of Nissan Motor Co. Aikawa, 62, and Executive Vice President Ryugo Nakao will leave their positions effective June 24, according to a statement Wednesday. Mitsubishi Motors used “desktop calculations” to ...

  Washington / Bloomberg Microsoft Corp. agreed to sell its feature phone business to FIH Mobile Ltd. and HMD Global for $350 million, exiting a business that once dominated the mobile market under the Nokia name before Apple Inc.’s iPhone. FIH, part of Foxconn Technology Group, will also acquire a manufacturing facility in Hanoi, Microsoft said in a statement on ...