Nordea does not tolerate being used to evade taxes, Casper von Koskull, the chief executive of the provider of financial services, emphasised while commenting on a trove of data on offshore accounts – the so-called Panama Papers – in a press conference on Thursday.
“We treat these accusations very seriously,” he assured.
The lay-offs announced by Nokia on Wednesday should be also seen as an opportunity, says Jari-Pekka Teurajärvi (PS), a former shop steward at the manufacturing plant of Nokia and Microsoft in Oulu.
Teurajärvi points out on his blog on Puheenvuoro that previous lay-offs introduced by the technology giants in Oulu have contributed to the diversity and well-being of the local information and communications sector, and shown that there is demand for skilled software developers.
The cities in the Helsinki Region have worked actively for several years to make their data open and accessible to everyone. Open data increases people’s knowledge and understanding and improves their possibilities for active participation in society. At the same time, the expectation is that open data creates possibilities for both startups and established companies to innovate and create new business.
While the idea that open data enables new business is generally well accepted, we still have quite limited understanding of how that works in practice. Therefore, Helsinki Business Hub and Forum Virium Helsinki recently carried out a study on how Finnish companies have been able to use open data for business purposes.
The study covered about 100 companies that were known to utilise open data in their activities. The results were very encouraging: nearly half of the reviewed companies were leveraging open data in products or services that had business potential and could be sold on the market.
Rovio has recorded its first loss-making year since the launch of its massively popular mobile game, Angry Birds.
The entertainment company announced yesterday that last year its operating result plunged 13 million euro into the red regardless of the fact that its games business grew for the sixth year in succession and made up 80 per cent of its annual net sales of 142 million euros.
Alexander Stubb (NCP), the Minister of Finance, has called for patience in the wake of the so-called Panama Papers data leak.
“One should keep a cool head. The situation must be analysed carefully and calmly, while respecting the principles of the rule of law. Only then must one make determined decisions on further measures to combat tax evasion,” he writes on his personal blog.
Pertti Porokari, the chairman of the Union of Professional Engineers in Finland, says he is shocked by yesterday's announcement that Nokia is about to shed a maximum of 1,300 jobs across its operations in Finland.
“It is indeed a shocking piece of news and a serious blow to employment. Approximately one-fifth of the almost 7,000 jobs at Nokia will disappear. Extraordinary measures will be needed to recover from this,” he states in a press release on the website of the Union of Professional Engineers.
- Category: Business
- Created on 06 April 2016
Outokumpu saw its shares rise more than six per cent on the Helsinki Stock Exchange on Tuesday after announcing that it will reduce a maximum of 600 positions worldwide, including 140 in Finland.
The stainless steel manufacturer announced in a press release that it is also considering outsourcing the positions of approximately one hundred staff members employed in its manufacturing support operations in Tornio as part of its efforts to improve competitiveness and financial performance.
The Finnish Government has decided to introduce additional austerity measures worth roughly 400 million euros and invest in, for example, transport infrastructure projects.
The Government announced after wrapping up its framework session yesterday that it will cut development assistance funding by 25 million, municipal subsidies by 130 million, sickness allowances by 20 million and basic transport infrastructure management funding by 35 million euros.
The contentious migrant-exchange agreement between the European Union and Turkey is not perfect but better than no agreement at all, estimates Sauli Niinistö, the President of Finland.
“It has come under heavy criticism from the standpoint of human rights. Its implementation will be difficult. The flows of migrants will surely look for alternative routes, of which there are already signs in the Mediterranean,” he stated in his address to the National Defence Course Association on Tuesday.
Nordea has come under severe criticism following reports that it is implicated in a trove of documents leaked from Mossack Fonseca, a major law firm based in Panama, the so-called Panama Papers.
Timo Soini (PS), the Minister for Foreign Affairs, states on his blog that funnelling funds to a tax haven is a sign of moral decay and will gnaw away at the credibility of the financial services provider in protecting the interest of its mortgage customers.
- Category: Business
- Created on 05 April 2016
Per Thelin has resigned as the chief executive of Stockmann by mutual agreement with the board of directors.
Jukka Hienonen, the board chairman of the iconic department store operator, said in a press release yesterday that the board of directors has initiated a process to find a successor to Thelin and appointed Lauri Veijalainen, the chief financial officer at Stockmann, as an interim chief executive.
- HUS has contacted all 19 patients possibly exposed to infectious diseases
- Finnish nature photographs on display in the tehran metro
- Labour market rules need a quick fix, says researcher
- Professor: Finland's reluctance to resort to fiscal stimulus is incomprehensible
- Expert: Stubb criticised for failure to force through labour market reforms
- Flammable liquids were used to set fire that destroyed a historic church in Ylivieska
- Finland is the biggest nanny state in the EU
- Court detains man suspected of setting a church ablaze in Ylivieska
- YLE praised for pro-digital culture and leadership
- Conductors' strike to halt most long-distance rail traffic on Thursday