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☆ U.S. Congress says F-16 sale to Turkey depends on NATO approval
▼ + stars: | 2023-02-02 | by ( Humeyra Pamuk | ) www.reuters.com time to read: +3 min

WASHINGTON, Feb 2 (Reuters) - The U.S. Congress cannot support the $20 billion sale of F-16 fighter jets to Turkey until Ankara ratifies the NATO memberships of Sweden and Finland, a bipartisan group of senators said on Thursday. "Once the NATO accession protocols are ratified by Türkiye, Congress can consider the sale of F-16 fighter jets. A failure to do so, however, would call into question this pending sale," the senators wrote. It was the first time Congress explicitly and directly linked the F-16 sale to Turkey with the NATO accession bids of the two Nordic countries. Turkey requested in October 2021 to buy 40 Lockheed Martin Corp (LMT.N) F-16 fighters and nearly 80 modernization kits for its existing warplanes.

☆ Rocker Ozzy Osbourne'not physically capable' of upcoming tour
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +2 min

LONDON, Feb 1 (Reuters) - British rocker Ozzy Osbourne said he was "not physically capable" of going on a European and UK tour this spring, as he was too weak for all the necessary travel involved in live shows. The 74-year-old has undergone years of treatment after a 2019 fall damaged his spine and exacerbated injuries from a 2003 quad bike accident. However, after three operations, stem cell treatments, endless physical therapy sessions, and most recently groundbreaking Cybernics (HAL) Treatment, my body is still physically weak," Osbourne said, referring to a treatment involving a mechanical exoskeleton. "Never would I have imagined that my touring days would have ended this way," Osbourne said. "My team is currently coming up with ideas for where I will be able to perform without having to travel from city to city and country to country."

☆ Finnish tech industry strike to begin on Wednesday
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: 1 min

HELSINKI, Jan 31 (Reuters) - Workers in several technology industry companies will go on strike in Finland from Wednesday to Friday this week after no solution was found to a wage dispute, Technology industry employers said in a statement on Tuesday. "This day did not bring a solution to the labour dispute between Industrial union and Technology industry employers," the Finnish national conciliator's office said in a tweet. The strike will hit 20 companies, including ABB (ABBN.S), Sandvik (SAND.ST) and Outokumpu (OUT1V.HE), that employ 11,000 workers, the employers' organisation said. Strikes could follow at several other industries if no solution is found to disputes over wage demands. Reporting by Essi Lehto, editing by Terje SolsvikOur Standards: The Thomson Reuters Trust Principles.

☆ Russia's war in Ukraine backfired by uniting NATO, even as cracks emerged over nearly a year of fighting
▼ + stars: | 2023-01-30 | by ( Jake Epstein | John Haltiwanger | ) www.businessinsider.com time to read: +12 min

When Putin invaded Ukraine, he miscalculated the response from Western countries. NATO has been largely united in its response to Russia's war, consistently providing Kyiv with military aid. Russian President Vladimir Putin has effectively succeeded in remaking the Western bloc, Araud said, adding that "the Western alliance is back." After the Soviet Union collapsed, both Finland and Sweden became NATO partner countries but stopped short of pursuing full membership. Even under the intense pressure of war, the alliance is "holding the way that they have in the past," he said.

☆ Finland to stick with Sweden in NATO bid, hopes for green light by July
▼ + stars: | 2023-01-30 | by ( Essi Lehto | ) www.reuters.com time to read: +3 min

[1/2] A view of the flags of Finland, NATO and Sweden during a ceremony to mark Sweden's and Finland's application for membership in Brussels, Belgium, May 18, 2022. Sweden and Finland applied last year to join NATO following Russia's invasion of Ukraine, but Turkey raised objections. "Our strong wish is still to join NATO together with Sweden," Haavisto told a news conference in Helsinki. But Haavisto said he still hoped Finland and Sweden would become NATO members in the next few months. But Haavisto said security assurances from the United States, Britain and other NATO members meant that Finland could be patient.

☆ Elevator-maker Kone to slash 1,000 jobs, sees recovery in Asia
▼ + stars: | 2023-01-26 | by ( Anne Kauranen | ) www.reuters.com time to read: +1 min

HELSINKI, Jan 26 (Reuters) - Finnish elevator-maker Kone (KNEBV.HE) said on Thursday it would slash up to 1,000 jobs globally as it cuts costs and it expects demand to pick up in its main market China and elsewhere in Asia this year. The cuts will save 100 million euros annually from the beginning of next year, the company said, with 150 of the job losses coming from Finland. Kone posted stronger-than-expected fourth-quarter core earnings but its order intake declined more than analysts had expected. Its October-December adjusted operating profit rose by 1.6% to 365 million euros ($398 million) from 359.4 million euros a year earlier, beating the 333.6 million expected by 21 analysts in a poll provided by the company. ($1 = 0.9178 euros)Reporting by Anne Kauranen, editing by Terje Solsvik and Elaine HardcastleOur Standards: The Thomson Reuters Trust Principles.

[1/2] Turkish President Tayyip Erdogan addresses lawmakers of his AK Party during a meeting in parliament in Ankara, Turkey, January 18, 2023. The main opposition Republican People's Party (CHP) also condemned the incidents in Sweden and said they would serve Erdogan's re-election campaign. But Erdogan said this week that Sweden could no longer expect Turkey's support for its NATO bid, and Ankara cancelled a planned trilateral meeting. Washington, Stockholm and Helsinki had hoped Ankara would ratify the NATO bids before Turkey's election. While Erdogan's government backs the Nordics' NATO bid with conditions, his political opponents had been more supportive - before the Stockholm incidents.

☆ Ex-Wagner commander witnessed comrades shot for fleeing, says his Norwegian lawyer
▼ + stars: | 2023-01-26 | by ( Ilze Filks | ) www.reuters.com time to read: +2 min

OSLO, Jan 26 (Reuters) - A former commander of Russia's Wagner mercenary group who fled to Norway has spoken about how he witnessed some of his comrades being shot as they were trying to flee from the frontline in Ukraine, his Norwegian lawyer told Reuters. His lawyer Brynjulf Risnes told Reuters that Medvedev had seen some "incredibly horrible" situations while he was fighting with Wagner last autumn. He had witnessed "the shooting of his comrades while he was watching because they tried to flee," Risnes said in an interview, citing Medvedev. Thousands of Ukrainian civilians have been killed, millions uprooted and cities reduced to rubble since Russian forces invaded Ukraine 11 months ago. Other groups like the Norwegian Helsinki Committee and the Clooney Foundation were also interested in talking to Medvedev, his lawyer said.

☆ Factbox: Tanks for Ukraine: who is lining up to send them?
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +3 min

Jan 25 (Reuters) - Germany has approved sending tanks to Ukraine, after Britain said it would send Challenger 2 tanks and Poland pushed for Berlin's approval to send German-built Leopard 2 tanks. Ukraine has until recently faced resistance to its requests for main battle tanks to fight against invading Russian forces. It said it would send an initial company of 14 tanks. NORWAYThe Norwegian government is considering whether to send some of its Leopard tanks, newspapers reported. THE NETHERLANDSDutch Prime Minister Mark Rutte said the Netherlands was prepared to deliver battle tanks to Ukraine if needed.

☆ Ketamine is being sold as a depression wonder drug. For some, it's making everything worse.
▼ + stars: | 2023-01-25 | by ( Anna Silman | ) www.businessinsider.com time to read: +42 min

The infusions at the ketamine clinic in his West Texas hometown were a Christmas gift from his grandmother. About five years ago, more and more of my friends started using ketamine recreationally. IV ketamine treatment centers charging $400 to $2,000 an infusion popped up all over the country. "Ketamine used as directed in an appropriate clinical setting very rarely leads to any dependence," Mindbloom says on its website. Like Nadia, most of the people I interviewed said when they started using ketamine, they didn't think it was possible to become dependent on it.

☆ Explainer: Why is Turkey blocking Swedish and Finnish NATO membership?
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +5 min

WHY DOES TURKEY OBJECT TO SWEDISH AND FINNISH MEMBERSHIP? The PKK is designated a terrorist group in Turkey, Sweden, the United States and Europe. Sweden and Finland want to proceed together, but with Turkey's ire directed mainly at Sweden, Finland could eventually lose patience with the process. COULD NATO EXPEL TURKEY, ALLOWING SWEDEN AND FINLAND TO JOIN? But Sweden, Finland and NATO want to avoid a long drawn-out process.

☆ Finland says timeout needed in talks with Turkey over NATO bid
▼ + stars: | 2023-01-24 | by ( Essi Lehto | ) www.reuters.com time to read: +1 min

HELSINKI, Jan 24 (Reuters) - Finland's foreign minister said on Tuesday a timeout of a few weeks is needed in the talks between Finland, Sweden and Turkey on the two Nordic nations' plans to join the NATO military alliance. Sweden and Finland applied last year to join North Atlantic Treaty Organization after Russia's invasion of Ukraine. They now need the backing of all current NATO states to progress with their application. Finland and Sweden have repeatedly said they plan to join the alliance simultaneously, and this has not changed, Haavisto said. "I do not see the need for a discussion about that," Haavisto said when asked whether Finland could potentially go ahead without Sweden.

☆ Finland promises 400 million euros of aid to Ukraine, could add Leopards
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +2 min

The new donation would triple the total value of Finland's defence aid to Ukraine, bringing the total so far to 590 million euros, the Defence Ministry said in a statement. "I can only say that this package does not include Leopard tanks. Finland had earlier indicated it could send the German-made Leopard tanks if there were agreement among allies. The defence ministers of Finland and Sweden are to sign a Statement of Intent (SoI) on support for Ukraine in Ramstein later today, the Finnish ministry said. Under that agreement "Finland supplies defence materiel to Ukraine, and Sweden expresses its readiness to support Finland as necessary," it said.

☆ Factbox: European companies cut jobs as economy sputters
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +5 min

REUTERS/Stephane MaheJan 17 (Reuters) - Decades-high inflation and the impact of war in Ukraine have forced companies across Europe into lay-offs or hiring freezes. * HUSQVARNA (HUSQb.ST): the garden equipment and tools maker announced in late October it will cut 1,000 jobs, the vast majority of them related to the shift from petrol to battery-powered tools. * SIEMENS GAMESA (SGREN.MC): the Spanish wind turbine maker in late September said it plans to cut 2,900 jobs, mostly in Europe, as part of a plan to return to profitability. * CLAS OHLSON (CLASb.ST): the Swedish hardware store chain said in December it would cut about 85 full-time jobs amongst other measures to deliver cost savings and reduced depreciation. BANKS AND FINANCIALS* KLARNA: Dagens Industri reported in May the Swedish payments company would lay off about 10% of its 7,000 employees.

☆ Sweden, Finland must send up to 130 "terrorists" to Turkey for NATO bid
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +2 min

ANKARA, Jan 16 (Reuters) - Sweden and Finland must deport or extradite up to 130 "terrorists" to Turkey before the Turkish parliament will approve their bids to join NATO, President Tayyip Erdogan said. The two Nordic states applied last year to join NATO following Russia's invasion of Ukraine but their bids must be approved by all 30 NATO member states. Turkey has said Sweden in particular must first take a clearer stance against what it sees as terrorists, mainly Kurdish militants and a group it blames for a 2016 coup attempt. "For this to pass the parliament, first of all you have to hand more than 100, around 130 of these terrorists to us," Erdogan said. Separately on Monday Swedish Prime Minister Kristersson said that his country was in a "good position" to secure Turkey's ratification of its NATO bid.

☆ Russia's windfall from high energy prices in 2022 is 'starting to wear out,' but it's still making $687 million a day despite the EU ban, new research shows
▼ + stars: | 2023-01-11 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Moscow's oil revenues have taken a hit from the EU's ban on most Russian oil imports and a $60 a barrel price cap, per a Finnish researcher. But Russia is still making $687 million each day from exporting fossil fuels. The CREA recommends the G7 and EU further cut its Russia oil price cap to $25-$35 a barrel. The report — which came about a month after the EU's embargo and the price cap kicked in on December 5 — determined that Russia's losing 160 million euros, or $172 million, each day, thanks to the sanctions. "The price cap coalition has a strong leverage to push down the price caps, said the CREA.

☆ I'm a psychologist in Finland, the No. 1 happiest country in the world—here are 3 things we never do
▼ + stars: | 2023-01-05 | by ( Frank Martela | ) www.cnbc.com time to read: +2 min

1 as the happiest country in the world, according to the World Happiness Report. As a Finnish philosopher and psychologist who studies the fundamentals of happiness, I'm often asked: What exactly makes people in Finland so exceptionally satisfied with their lives? To maintain a high quality of life, here are three things we never do:1. Happiness tip: Focus more on what makes you happy and less on looking successful. Happiness tip: Spending time in nature increases our vitality, well-being and a gives us a sense of personal growth.

☆ 'Investors changed the rules of the game overnight.' The CEOs of Rapyd, Revolut, Wefox, and Klarna look ahead to fintech in 2023.
▼ + stars: | 2022-12-30 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +4 min

After a bruising year for the sector, fintech startups are prioritizing profitability. The CEOs of Revolut, Klarna, Wefox, and Rapyd outlined the new reality for consumer-facing fintech. "Investors changed the rules of the game overnight," Rapyd CEO Arik Shtilman told Insider. "Investors changed the rules of the game overnight," Arik Shtilman, CEO and founder of $15 billion fintech Rapyd told Insider at the Slush conference in Helsinki. Regardless of whether a focus on profitability has been pushed by investors or not, the tide has now turned for the fintech sector in Europe.

☆ Europe's tech ecosystem nursed a hangover in 2022 as the post-pandemic party ended and VCs returned to fundamentals
▼ + stars: | 2022-12-28 | by ( Callum Burroughs | Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

VCs returned to slower capital deployment and due diligence processes after a record-breaking 2021. The COVID-19 pandemic and the last remnants of the era of cheap money led to reckless abandon in funding markets with tech startups raising capital at record rates, often at valuations untethered from reality. VC cash dried up considerably this year with investors pumping $16 billion into startups in the third quarter of 2022, a 44% annual decline. Numerous VCs told Insider the past two years had felt like an out-of-control celebration with many "now looking around at the aftermath and thinking about tidying up. " "The ecosystem is nursing its hangover after two years of a big party," Arne Morteani, founding partner at Kiko Ventures said.

☆ Analysis: Italy's rates clash with ECB a sign of things to come for euro zone
▼ + stars: | 2022-12-20 | by ( Francesco Canepa | ) www.reuters.com time to read: +4 min

Summary Euro zone governments offering cost-of-living subsidiesECB has warned it won't compensate for "policy errors"Clashes seen widening beyond ItalyFRANKFURT, Dec 20 (Reuters) - Attacks by Italy's new government on the European Central Bank over its plans to raise borrowing costs may be a sign of things to come for a euro zone struggling with inflation and debt. It also showed the ECB did not fear penalising the most indebted of the 19 euro zone countries, Italy among them, which tend to see their borrowing costs rise disproportionately when credit becomes more expensive. "The ECB is clearly ready to take risks with fragmentation in the euro area," Gilles Moec, chief economist at AXA Investment Managers, said. With bigger deficits to refinance and the ECB raising interest rates while also winding down its bond purchases, markets have pushed up yields across the euro zone and particularly for the weakest borrowers, such as Italy. But the ECB has been clear it won't be used to rescue countries that have made imprudent "policy errors".

☆ Fortum agrees final terms for Uniper sale to Germany
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: 1 min

HELSINKI, Dec 19 (Reuters) - Finland's Fortum (FORTUM.HE) on Monday said it had signed the final terms of an agreement that will allow the company to sell its shares in troubled utility Uniper (UN01.DE) to the German government. The German government in late September agreed to take over Fortum's Uniper subsidiary, effectively nationalising the gas importer to try to cover losses incurred after Russia cut supplies. Fortum on Monday said it would sell its Uniper shares to Germany for 0.5 billion euros ($532 million) and get back a parent loan of 4 billion euros, in line with the earlier agreement. ($1 = 0.9401 euros)Reporting by Essi Lehto, editing by Terje Solsvik and Stine JacobsenOur Standards: The Thomson Reuters Trust Principles.

☆ VIEW Bank of England raises rates to 3.5%, says inflation has peaked
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +7 min

LONDON, Dec 15 (Reuters) - The Bank of England on Thursday raised interest rates by a widely expected 50 basis points (bps) to 3.50%, in its ninth straight increase - and its eighth this year. UK rates began rising in December 2021, making the BoE the first of the world's major central banks to kick off a monetary policy-tightening cycle. MONEY MARKETS: Interest rate swaps showed investors expected rates to peak at 4.46% by next August, compared with an anticipated terminal rate of 4.53% just before the decision. Their own numbers have been pointing to a recession for a little while, and they've still materially hiked interest rates. EDWARD HUTCHINGS, HEAD OF RATES, AVIVA INVESTORS, LONDON:"The Bank of England duly delivered on financial markets expectations of a 0.50% hike.

☆ Telecom equipment maker Ericsson divests Russian operation
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: 1 min

HELSINKI, Dec 15 (Reuters) - Swedish telecom equipment maker Ericsson (ERICb.ST) said on Thursday it had divested a customer support operation in Russia. The new owners of the business, that has some 40 employees, come from the management of Ericsson's Russian subsidiary, the company said in a statement. Ericsson has previously announced it had decided to wind down its Russian businesses that used to employ 400 people. Reporting by Essi Lehto; editing by Niklas PollardOur Standards: The Thomson Reuters Trust Principles.

☆ This startup wants to show the impact Fortune 500 companies have on the environment and society. Check out the 18-slide pitch deck Upright used to raise $5.2 million.
▼ + stars: | 2022-12-13 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

Finnish startup Upright just landed a 5 million euros seed round (around $5.2 million). The platform reveals the impact the world's largest companies have on the environment and society. Check out the 18-slide pitch deck Upright used to raise its first round from VC Planet A.Annu Nieminen has always found solace in math. She couldn't find anyone working on a tool to show the overall negative or positive impact of businesses so decided to do it herself – "as the cliche goes," she told Insider. The Helsinki-based startup has been bootstrapped until now, as it announces a 5 million euros seed round (around $5.2 million).

☆ Finland hopes for Turkish support for NATO bid soon, considers arms exports
▼ + stars: | 2022-12-08 | by ( Huseyin Hayatsever | ) www.reuters.com time to read: +2 min

ANKARA, Dec 8 (Reuters) - Finland's defence minister Antti Kaikkonen said the sooner Turkey ratifies its NATO membership bid the better and it would consider granting arms export permits to Turkey on a case by case basis. In an interview with Reuters after meeting his Turkish counterpart Hulusi Akar in Ankara, Kaikkonen said he could not foresee a timetable for Turkey's ratification of his country's NATO membership application. A leading Turkish politician from Turkey's ruling AK party said however the speed of ratification lay in Finland and Sweden's hands and how swiftly they met Turkey's requests. Earlier this week, Turkish Foreign Minister Mevlut Cavusoglu said Finland must lift an arms embargo on Ankara as a condition to securing support from Turkey. "There have been some discussions with Finnish industry about exports from Finland to Turkey.

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