A Reuters poll of 30 banks and brokerages has found that, on average, financial analysts expect Nokia will burn through €2 billion (US$2.5 billion) of cash during the next three quarters, with some predicting the company will wipe out its cash reserves completely within a couple of years, raising the specter of potential defaults on its bond repayments. (See Euronews: Fitch Junks Nokia and Euronews: Nokia's Q1 Device Disaster.)
Hutchison Whampoa has failed in its attempt to have its bid for Ireland's eir reconsidered by the court-appointed examiner, reports the Irish Independent. A survival plan devised in consultation with eircom's main creditors now looks the most likely route for the debt-laden operator. (See Lenders to Lean on Eircom.)
U.K. mobile operator Telefónica UK Ltd. (O2) has been buffing up its green credentials by getting its network's carbon footprint verified by the Carbon Trust, an independent body that deals with such matters. This exercise unearthed the factoid that making a five-minute call is the carbon-equivalent to boiling water to make one cup of tea. Given the choice, Euronews would take the tea every time.