A complete rejection of the free market…
Where the free market rewards success and punishes failure (that’s why we have a modern successful economy and market), the government punishes success (with tax rates) and rewards failures (if your business is heavily favored by political apparatchiks).
Government said it has agreed to grant Finnish news agency STT a cash injection to ensure that the country continues to have a round-the-clock news service and to help the firm reorganise and stabilise its financial position.
Founded in 1877, the Helsinki-based agency is one of the oldest news agencies in the world, but it has struggled with financial difficulties for the past several years, troubles mainly attributed to a gradual loss of its client base.
The biggest STT shareholder is Sanoma Media, which owns some 75.4 percent of the firm, followed by newspaper company Keskisuomalainen which has 6 percent. National broadcaster Yle owns 1.7 percent of STT.
Last June Alma Media and TS Group divested its shares in the company, selling their respective stakes to Sanoma Media.