Nokia names new finance chief in management revamp

By Tarmo Virki

(Reuters) – Finnish telecoms equipment maker Nokia <NOKIA.HE> named a new finance chief on Thursday, completing an overhaul of its top executive team as it battles rivals Ericsson <ERICb.ST> and Huawei [HWT.UL] for work on lucrative 5G networks.

The company said Marco Wiren would join from Finnish engineer Wartsila <WRT1V.HE> and take over from Kristian Pullola as chief financial officer (CFO) from Sept. 1.

Nokia’s new Chief Executive Pekka Lundmark will also take the helm in September, while last month Sari Baldauf started as chairwoman, succeeding Risto Siilasmaa who had led the board for eight years.

Nokia, which axed its dividend after a profit warning last October, has been trying to tackle costs and delays in shipments as it vies with Sweden’s Ericsson and China’s Huawei.

“Nokia has clearly had challenges with balance sheet and cash flow, which has created additional pressure for renewal on the financial

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Analysts’ Revenue Estimates For NexPoint Real Estate Finance, Inc. (NYSE:NREF) Are Surging Higher

NexPoint Real Estate Finance, Inc. (NYSE:NREF) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year’s forecasts. The analysts have sharply increased their revenue numbers, with a view that NexPoint Real Estate Finance will make substantially more sales than they’d previously expected.

Following the upgrade, the most recent consensus for NexPoint Real Estate Finance from its three analysts is for revenues of US$42m in 2020 which, if met, would be a huge increase on its sales over the past 12 months. Before the latest update, the analysts were foreseeing US$37m of revenue in 2020. It looks like there’s been a clear increase in optimism around NexPoint Real Estate Finance, given the solid increase in revenue forecasts.

See our latest analysis for NexPoint Real Estate Finance

NYSE:NREF Past and Future Earnings June 12th 2020

Notably, the analysts have cut their price

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Protests shed light on why ‘black founders matter’ in startups, business

Widespread protests in response to the police killing of George Floyd have also put a spotlight on a lack of racial and ethnic diversity in the boardroom, a venture capitalist told Yahoo Finance this week, who described the issue as an opportunity for change.

Angel investor Lorine Pendleton, the lead investor for the Rising American Fund with Portfolia, said that the current social upheaval is putting a needed spotlight on issues that pertain to class and wealth. That includes the need to tackle the dearth of minorities on Wall Street, Silicon Valley and in board rooms.

The problem is “really systemic,” Pendleton told Yahoo Finance’s “On the Move” in an interview, adding that the Black Lives Matter movement is “actually shedding a light on income and wealth disparity.”

“And so I say, black founders matter, and that’s…what we’re doing and investing in these best of class companies that are out

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England’s shops back in business as lockdown eased

LONDON (Reuters) – After 83 days of coronavirus lockdown, non-essential stores in England reopen their doors on Monday, hoping to get the tills ringing again and start a long road to recovery.

The stores have been closed since March 23 when Prime Minister Boris Johnson imposed a lockdown to stem the spread of the virus. While outdoor markets and car showrooms reopened on June 1, Monday will be the big return to business for retailers.

It only applies to England, with stores in Scotland and Wales waiting for guidance from their devolved administrations on when they can resume trading. Non-essential stores in Northern Ireland reopened on Friday.

Getting shoppers spending again is key to Britain’s recovery after official data on Friday showed the economy shrank by a quarter over March and April.

The British Retail Consortium reckons the lockdown has cost non-food stores 1.8 billion pounds ($2.3 billion) a week

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