Detroit’s emergency manager says “everything’s on the table” to avoid bankruptcy, including bond payments. That hasn’t deterred investors from pushing the city’s relative borrowing costs to the lowest since January.
With the Atlantic hurricane season days away, bonds of Florida’s largest real-estate insurer are rallying the most in nine months as forecasters assess a below- average chance the state will be hit by a major storm.
The price of Nokia Oyj’s Lumia 900, the smartphone the company is counting on to revive U.S. sales, was cut in half at AT&T Inc. stores in a sign the device is struggling to lure users away from the iPhone and Android models.
Nokia Oyj and Microsoft Corp., both looking to increase U.S. sales of smartphones, stand to get a much-needed boost as Samsung Electronics Co. products face a possible ban and handset makers come under pressure to consider alternatives to Google Inc.’s Android software.
Nokia Oyj, the world’s biggest maker of mobile phones, may report its second-lowest profit in more than a decade for the first quarter as competitors reduce prices in both smartphones and standard handsets.