Economy & Business

EK warns: unemployment & bankruptcy could be worse than 90’s recession

The Confederation of Finnish Industries EK is warning that the coronavirus crisis could cause a wave of unemployment and bankruptcy worse than the 1990's recession. A new survey by the organisation finds that almost 20% of employers fear bankruptcy; 42%...

Fiskars to close temporarily, and start lay-off negotiations

Finnish homeware brand Fiskars, best known for its range of distinctive orange-handled scissors, is temporarily closing its Finnish business, and starting talks to cut staff. The company cites the coronavirus epidemic for negatively affecting consumer demand in its main markets. "The...

Finnair CEO interview: ‘Coronavirus is the biggest crisis in airline history’

The Finnair departure gates at Helsinki Airport are empty for large parts of the day. The usual ebb and flow of flights - the morning rush to European capitals, the evening hustle of Asia-bound planes - replaced with just a...

City of Helsinki gives three month rent holiday for local businesses

The City of Helsinki is offering its business tenants a three month 'rent holiday' during the coronavirus pandemic. The idea is to lessen the financial impact the virus is having on a range of businesses, where customer numbers have dropped...

Espoo’s Remedy Entertainment inks new games production deal

Espoo's Remedy Entertainment, which has produced blockbuster gaming titles like Max Payne, Control, Quantum Break and Alan Wake, has signed a new deal with Epic Games to publish two of Remedy's upcoming projects. Although no financial information is available for...

Stockmann shifts its popular Crazy Days shopping campaign online

The Crazy Days campaigns are the most important and visible events of Finnish retailer Stockmann. But this year instead of drawing tens of thousands of people to their bricks and mortar stores, Stockmann is encouraging customers to do their shopping...

Marimekko closes stores, lowers outlook 

Finnish fashion and design brand Marimekko is feeling the impact of the coronavirus pandemic. On Wednesday morning the company lowered its financial forecast saying the virus could have a "significant impact on the company's sales and profitability." For health reasons Marimekko...

Restaurants, cafes, bars and nightclubs to close until end of May

New restrictions to close restaurants, cafes, bars and nightclubs are being discussed in Parliament on Tuesday but expected to go into force as soon as Saturday. Prime Minister Sanna Marin (SDP) and Labour Minister Tuula Haatainen (SDP) said this evening that for now...

Employment situation strengthens right before coronavirus impact

Finland's employment situation strengthened in February compared with the year before - just before the impact of the spreading coronavirus pandemic would become more acute for the national economy and many businesses. Still, it was a positive sign. New figures published...

Trade unions boss: “The situation is pretty drastic”

The trade unions are talking, and the government is listening. Last week's €15 billion Government bailout package, and measures to try and safeguard Finnish jobs during this stage of the coronavirus pandemic, was in large part proposed a few days...

Latest News

GALLERY: Discovering Finland’s urban wildlife residents

How well do you know your neighbours? No, not your human neighbours, but the other animals that share our cities, towns and villages with...

Morning headlines: Friday 15th January 2020

Cold snap continues across the country  A cold front with some extremely chilly temperatures continues across most of central, southern and eastern Finland on Friday...

Morning headlines: Thursday 14th January 2021

Coronavirus update: No new restrictions expected today Public health officials, and Minister Krista Kiuru (SDP) will give a coronavirus update on Thursday morning but are not...

Morning headlines: Wednesday 13th January 2021

Southern snow storm continues, as temperatures drop A snowstorm that swept through southern Finland in the last 36 hours continues on Wednesday, although snow will...

Morning headlines: Tuesday 12th January 2021

Snow storm brings dangerous driving conditions, power outages A snowstorm sweeping across western and southern Finland on Tuesday brings dangerous driving conditions to roads and...

Morning headlines: Monday 11th January 2021

Exceptionally heavy snowfall on the way from Monday night Meteorologists are warning of "exceptional" levels of snowfall with up to 30-40cm of accumulated snow forecast...

Morning headlines: Friday 8th January 2021

Minister calls for faster vaccine delivery from EU Minister of Family and Basic Services Krista Kiuru (SDP) has written to the EU's Health Commissioner calling for...

Morning headlines: Thursday 7th January 2021

Finnish leaders react to American political violence  Finnish leaders have reacted to a night of political violence in America, when armed supporters of US President...