- Category: Business
- Created on 17 April 2015
Nokia will revamp its operations with the largest corporate acquisition in the economic history of Finland.
The manufacturer of network equipment on Wednesday announced that it will acquire its French rival Alcatel-Lucent in a 15.6 billion euro all-share deal and confirmed that it is exploring the sale of its mapping and location unit, HERE.
President of the Republic Sauli Niinistö emphasised the significance of maintaining a national defence capability in his address at the closing ceremony of the parliamentary term on Wednesday.
“That will require decisions and action.”
More and more people have to rely on social assistance in the capital region despite being in employment as their wages are not enough to cover their essential expenses.
One of these people is Kirsi Ahola from Vantaa. Ahola is currently in wage-subsidised employment at a second-hand shop in Simonkylä, Vantaa, operated by the local organisation of the unemployed. She presumed after receiving the job that she would no longer need additional benefits but was proven wrong.
- Category: Business
- Created on 14 April 2015
Stockmann will launch negotiations with a total of 1,100 employees in Finland over the redundancies of a maximum of 260 positions.
The traditional retailer also confirmed on Tuesday that it will shut down its department store in Oulu by early 2017. “The decision will affect all employees, currently around 230, in the store,” the retailer says in a news release.
“Such bad and unfortunate news,” Mari Nurminen, the manager at Tampere-Pirkkala Airport, comments to Helsingin Sanomat on the news that Ryanair is to suspend its winter services to Tampere.
The budget-friendly carrier on Monday announced that it will re-assign its aircraft serving on routes to and from Tampere to other routes and, as a result, suspend its services to Tampere-Pirkkala Airport for the winter season.
The majority of Finns would prefer to establish the next Government on a partnership between two parties.
More than two in three, or 64 per cent, of respondents to a survey commissioned by Helsingin Sanomat indicated that they believe the Centre Party and 52 per cent that they believe the Social Democratic Party (SDP) should be a part of the next Government.
Finland and Sweden moving toward closer ties with the North Atlantic Treaty Organisation (Nato) is “a special concern” for Russia, the Russian Ministry of Foreign Affairs says in a statement issued on Sunday. Nordic defence co-operation is according to the ministry geared increasingly toward responding to a threat from Russia.
“The inclination of Finland and Sweden to move closer to the military alliance Nato is a special concern in this context,” the ministry writes.
“Russia hasn't done anything with respect to Finland that would pose an acute threat at this moment in time,” says Lieutenant General Jarmo Lindberg, the Commander of the Finnish Defence Forces.
The operational environment of Finland has nevertheless shifted in the wake of the events in Crimea and Ukraine, according to Lindberg. Military activity near the borders of the country has similarly increased, he added in an interview with YLE on Saturday.
Prime Minister Alexander Stubb (NCP) has stepped up his efforts to woo the grey vote as the parliamentary elections draw near.
The chairperson of the National Coalition Party reminds that pensioners built Finland under circumstances considerably more difficult than the present. Pensioners, he adds, should consequently not be thought of as a social burden.
- Category: Business
- Created on 09 April 2015
Valmet has extended its operations on a broader scale after confirming the acquisition of the process automation business of Metso in early April.
Announced in mid-January, the acquisition saw the supplier of technologies for the pulp, paper and energy industries cough up 340 million euros for roughly 1,500 employees and 300 million euros in annual revenue, bringing its number of Finnish employees up by some 900 to 4,600.
Export-driven growth is what will pull Finland out of its economic malaise, affirms Antti Rinne, the chairperson of the Social Democratic Party.
At present, Rinne highlights, no more than 26 companies are responsible for generating 60 per cent of the export earnings of the country. “That's too few,” he says.
- Exports fell further in February
- Heinäluoma: Elections will be full of surprises
- Finland's richest 1% own growing share of net wealth
- Ministry of Finance foresees weaker-than-expected growth
- Researcher: There are not enough Finns to fill jobs promised by political parties
- Räsänen: Ruling parties were selfish
- Sipilä: “Everyone has made mistakes”
- OP cuts nearly 280 jobs
- Holiday-makers wait anxiously as sides convene for last-ditch talks in icebreaker row
- Soini: Women a growth opportunity for Finns Party