Sakari's Feed
Jun 18, 2014

Finnish reasons for joining NATO ‘stronger than ever': defense minister

HELSINKI (Reuters) – Finland should seriously consider joining NATO because of Russia’s aggressive actions in Ukraine and could hold a referendum on the issue some time after its 2015 election, its defense minister told Reuters.

Opinion polls show only one fifth of Finns favor joining the Atlantic alliance but Carl Haglund said he expected that to change if Finland, which shares a 1,300 kilometer border with Russia, had an honest and open debate about NATO membership.

Jun 18, 2014

Stubb starts talks to form next Finnish government

HELSINKI, June 18 (Reuters) – Alexander Stubb, set to become
Finland’s new prime minister, began talks on Wednesday on
forming a coalition government, which is likely to comprise the
same five parties as the outgoing one.

Stubb, new leader of the centre-right National Coalition
party, is set to succeed Jyrki Katainen, who is seeking a high
level job in the European Union. Katainen handed in his
resignation on Monday and is expected to step down next week.

Jun 14, 2014

Stubb to be Finland’s next PM, backs NATO membership

LAHTI Finland (Reuters) – Finland’s EU minister Alexander Stubb, who wants to cut taxes and take his neutral country into NATO, won the leadership of his ruling conservative party on Saturday, putting him on track to become prime minister later this month.

British and U.S. -educated Stubb, 46, a polyglot sportsman, will take over Finland’s five-party governing coalition after Prime Minister Jyrki Katainen steps down, possibly as early as next Thursday. Finland holds a general election in April 2015.

Jun 12, 2014

Finnish conservatives gather to choose next PM

HELSINKI (Reuters) – Finland’s conservative party will pick the country’s next prime minister this weekend when it selects a new leader to replace current prime minister and party head Jyrki Katainen, who steps down to seek a high-level EU job.

The new prime minister, to be picked from three hopefuls, will take over a country which has seen its economy contract for two years in a row, and may shrink again this year as economic indicators show wide-spread weakness.

Jun 10, 2014

ECB policymakers say can do more if needed

HELSINKI/BRATISLAVA (Reuters) – European Central Bank policymakers stressed on Tuesday that they can still do more to support the euro zone economy after last week announcing a package of measures to ward off the threat of deflation.

The central bank chiefs of Finland and Slovakia, Erkki Liikanen and Jozef Makuch, who both sit on the ECB’s 24-member Governing Council, said the bank could do more if needed.

May 21, 2014

Fortum dumps Areva-Siemens from nuclear plant modernization

HELSINKI (Reuters) – Finnish utility Fortum (FUM1V.HE: Quote, Profile, Research, Stock Buzz) has terminated a deal with engineering groups Areva (AREVA.PA: Quote, Profile, Research, Stock Buzz) and Siemens (SIEGn.DE: Quote, Profile, Research, Stock Buzz) and picked a rival to carry out modernization work on a nuclear plant, having decided the project would otherwise take too long.

State-controlled Fortum said on Wednesday it had chosen Britain’s Rolls-Royce (RR.L: Quote, Profile, Research, Stock Buzz) to deliver the next phase of automation systems for the Loviisa plant in southern Finland, in a project stretching through 2018.

May 11, 2014

Once Europe’s lead preacher of budget prudence, Finland loses righteousness

By Sakari Suoninen and Jussi Rosendahl

HELSINKI, May 11(Reuters) – Vesa Vihavainen is worried.
Merivaara, his Finnish-based hospital bed-making business, is
struggling – just like the economy that Finns once held up to
debt-laden Greeks as a model of what national thrift can

Weak sales mean Merivaara has had to lay off staff as
Finland fails to find an exit from a two-year recession. That
spiral of lost jobs and income is also wrecking the country’s
cherished reputation for sound public finances.

Apr 29, 2014

Nokia names Rajeev Suri as new CEO, gives extra dividend

HELSINKI, April 29 (Reuters) – Rajeev Suri will become the
new chief executive of Finnish telecommunications gear maker
Nokia, the company said on Tuesday, adding that it
would return an extra 1 billion euros to shareholders from the
sale of its phone unit.

Suri, 46, until now led Nokia Solutions and Networks (NSN),
the smaller network equipment unit of Nokia when the company
still made mobile phones.

Apr 28, 2014

Angry Birds maker sees profit halve as free games proliferate

HELSINKI (Reuters) – Finland’s Rovio Entertainment, maker of the Angry Birds computer game, said its earnings halved last year due to investments in its animation business and stalling sales.

After scoring a global breakthrough with Angry Birds, in which players use a slingshot to attack pigs who steal birds’ eggs, Rovio has expanded the brand into an animated TV series and merchandising of toys and clothing.

Apr 23, 2014

Stora Enso boss to resign after strong first quarter

HELSINKI, April 23 (Reuters) – Finnish pulp and paper maker
Stora Enso said CEO Jouko Karvinen, who has closed
mills and cut jobs to help the firm cope with a drop in demand,
would resign later this year.

Since taking the helm in 2007, Karvinen has been
restructuring Stora Enso to help it adjust to a decline in
demand for paper in Europe as consumers shift from magazines and
newspapers to online reading.

    • About Sakari

      "I am part of the Reuters team covering the European Central Bank. Before moving to Frankfurt in early 2009, I was based in Helsinki, where I wrote about the Finnish economy and paper industry."
      Joined Reuters:
      Finnish, English, German, Swedish
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