Enso ja Stora yhdistym ss mets j tiksi

Article Abstract:

Finland's Enso is about to incorporate with the Swedish Stora. The companies have negotiated the merger and the owners' decisions are expected within the next few days. Enso-Stora will become by far the largest newsprint and fine paper manufacturer in Europe and the second largest manufacturer of magazine paper of the world. The new company's turnover would rise to approx. Fmk 60bn (US$ 11bn). The merger will be discussed in the economic policy committee of ministers of the Finnish government on Tuesday morning 2 June 1998, since the Finnish state owns 44.1% of Enso shares, with a voting power of 46.8%. Additionally, the Finnish Social Insurance Institution owns Enso shares, thus the Finnish state has authority of the company. Calculating from the market values, the Finnish state's ownership of the new corporation would amount to approx. 20%. The most considerable owner of Stora is the Wallenberg investment company Investor, with a 19.8% voting power. According to market sources, the Enso-Stora merger would not form such large entities that the competition authorities would have to interfere with the matter.

Comment:

Will merge w/ Enso, of Finland, creating the largest newsprint & fine paper manufacturer in Europe

Acquisitions & mergers, Sweden, Newsprint, Newsprint Mills, Stora AB, Enso

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Matkapuhelin on menossa rahakortin reviirille

Article Abstract:

In future, mobile phone can be used for paying minor shopping. Finnish Sonera is already testing the system in Finland. For example a car wash can be paid by mobile phone, the sum will be charged with the phone bill. According to Sonera, the experiences for the phone number automates have been encouraging. Customers consider it convenient as coins are no longer needed. The technology is being further developed. According to Finland's Nokia, Finns have widely accepted the mobile phone and it will be easy to add different functions to it. Nokia estimates that within a few years it will be quite common to pay shopping by the mobile phone. According to Finnish Automatia Rahakortit , the money cards will remain as form of paying. Mobile phone could be one route for the payment but combining the phone and money card is unlikely. Consumers do not like to keep money in several places.

Comment:

Starts testing mobile phone service which can be used for paying minor shopping in Finland

Cellular and Other Wireless Telecommunications, Mobile Radio Services, Services development, Wireless communications services, Sonera Corp.

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Suomalaisten ansiotaso aleni loppuvuodesta

Article Abstract:

According to Statistics Finland, the Finns' real earnings started declining at the end of 1997. However, the reason is not in decline in wage level but in the measuring manner. In 1997, the Finns' nominal earnings increased 2% on the average from 1996 and real earnings 0.8%. Quarterly wage level development shows that Oct-Dec 1997 real earnings decreased 1.2% from 1996. This is due to wage increases taking effect only from the beginning of 1998. True wage development can be seen in the information for the entire year.

Comment:

Finland: Finns' nominal earnings in 1997 increases by 2% on the average from 1996 & real earnings by 0.8%

Wages

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