Fitch said Nokia needs to stabilize revenues and be capable of generating low-single digit non-IFRS operating profit margins and positive pre-dividend free cash flow, if it is to affirm the current rating.

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Mr Kelly believes that clusters of internet activity, when they do cross national borders, flow from pre-existing identities.

ECONOMIST: E-communication and society

The larger firms require all brokers to hawk the same largely proprietary products and pre-packaged in-house information flow.

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Corporate free cash flow has reattained pre-recession levels of 2006 and looks to me much less volatile than in previous business cycles.

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For example, if a professional firm has a large number of partners who potentially want to sell out at death, disability, divorce, or retirement, the firm can significantly improve cash flow management by pre-funding these buyouts through purchases of life insurance on the owners.

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