Daily Archives: April 14, 2011

One day in early February, Samuli Nyyssonen of Nokia boarded a plane in Bangalore working for one company and disembarked in Helsinki working for another.

While the software engineer was in the air on February 11, Stephen Elop, the company’s chief executive, had told its 130,000 employees about a sharp change of strategic direction. Nokia would ally with Microsoft in smartphones, while at the same time boosting the group’s basic phone business in an effort to reach the “next billion” users. Read more

Sir John Vickers seemed irritated this week by the reaction to the interim report of the Independent Commission on Banking. Shares in banks rose on relief that its proposal to ringfence retail banks from investment banks were not more harsh, while Bob Diamond, chief executive of Barclays, made no repeat of his past threats to resettle his bank elsewhere.