Business | Daily Finland, English News from Finland

Wednesday November 13, 2024

Volkswagen launches joint venture with US electric car company Rivian

German auto giant Volkswagen has officially launched a joint venture with US electric vehicle manufacturer Rivian, committing to a $5.8 billion investment, $800 million more than previously planned, to accelerate its electric vehicle transition. The partnership is expected to produce its first models based on Rivian's advanced electric car

Published: 03:16 am,Saturday 9 November 2024

IMF for further structural reforms for Finland

The International Monetary Fund (IMF) recommends further adjustments to public finances and continued structural reforms for Finland, according to a statement published by the IMF on Friday. The IMF said that attention should be given to the tax treatment of venture capital funding and rebates associated with investment spending

Published: 00:52 am,Sunday 10 November 2024

Industrial output drops in September

Seasonally adjusted industrial output decreased by 1.1 per cent in September from the month before, according to Statistics Finland. Industrial output adjusted for working days went up by 1.0 per cent compared to one year ago. Adjusted for working days, industrial output grew by 1.3 per cent in September 2024

Published: 03:20 am,Thursday 7 November 2024

Trade balance posts €290m surplus in Sep

The trade balance was in surplus of EUR 290 million in September, according to the preliminary statistics of international trade in goods published by Finnish Customs on Wednesday. In January-September, the aggregated deficit amounted to EUR 1.5 billion. In September 2023, the trade balance was also EUR 290 million

Published: 03:13 am,Thursday 7 November 2024

Sales of new cars on wane in Finland in Oct

A total of 5,936 new passenger cars were registered in Finland in October 2024, which was 8 per cent fewer than one year earlier, according to Statistics Finland. In all, 10,219 new vehicles were registered in October. First registrations decreased by 7 per cent from the corresponding month of

Published: 01:05 am,Friday 8 November 2024

Nissan Motor plans 9,000 job cuts

Nissan Motor Co. on Thursday announced a plan to cut 9,000 jobs globally and slashed its operating profit outlook for the year ending March by 70 percent, reported Xinhua. The Japanese carmaker cut its fiscal 2024 operating profit forecast by 70 percent to 150 billion yen (about 975

Published: 01:17 am,Thursday 7 November 2024

Toyota reports profit plunge due to certification scandal

Japanese automaker Toyota Motor Corp. said Wednesday its net profit for the first half of the fiscal year (April to September 2024) fell 26.4 percent to 1.91 trillion yen (about 12.3 billion U.S. dollars), reported Xinhua. The decline was mainly attributed to issues like certification irregularities that affected

Published: 01:26 am,Thursday 7 November 2024

BMW quarterly profit drops sharply, misses forecasts

BMW's third-quarter net profit fell 83.8 percent to 476 million euros (514.08 million U.S. dollars), driven by brake system issues from supplier Continental and weak demand, the automaker announced on Wednesday, reported Xinhua. The automotive margin, a key metric for BMW, fell from nearly 10 percent last year

Published: 04:40 am,Wednesday 6 November 2024

Wages, salaries rise by 2.1% in September

The working day adjusted wages and salaries sum of the whole economy was 2.1 per cent higher in September 2024 than in September 2023, according to Statistics Finland. The seasonally adjusted wages and salaries sum of the whole economy increased by 1 per cent in September from the previous

Published: 00:06 am,Tuesday 5 November 2024

Foreign background workers in Finland earn lower salary than natives

The foreign background workers in Finland generally earn about 15 percent lower hourly salary compared to the local Finnish, according to Statistics Finland. The scenario is different only in the case for specialists where the earning of foreign background employees was higher than the locals during the recent years. The

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