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Thursday's papers: Russia threats, payment defaults wiped, shrinkflation

Some 18,600 people will see their payment default listings wiped as of today, following a law change.

Shrinkflation occurs when companies sell less product for the same price in order to keep business viable. Image: Tiina Jutila / Yle
Yle News

Finland and Sweden's accession to Nato will "significantly increase tensions and increase security risks," Russia's Foreign Ministry's spokesperson Maria Zakharova said on Wednesday evening.

Tabloid Ilta-Sanomat (siirryt toiseen palveluun) (IS) reports that the representative even spoke of accelerating militarisation in the Arctic area.

Zakharova pointed out that if Sweden and Finland become Nato members, Russia will be the only non-Nato representative in the Arctic Council. However, she also noted that the Arctic Council does not deal with military security issues and should therefore not be linked to Sweden and Finland's Nato ambitions, according to IS.

The tabloid writes that Finland is familiar with Zakharova's caustic tone, adding that this was one of the less harsh Nato membership application-related comments heard from the Russian spokesperson.

Default notices wiped

More than one and a half million payment default entries will be removed from the credit information register on Thursday, Tampere-based daily Aamulehti (siirryt toiseen palveluun) writes.

Behind the erasure is the new Credit Information Act, which came into force as of 1 December. The new law is estimated to delete the data of about 18,600 people as well as some 5,000 companies, according to the paper.

The law amendment holds that payment default entries be removed up to one month after credit agencies receive the payment notice.

Prior to the law change, default entries typically remained in the register for up to two to three years, Aamulehti notes.

Shrinking packages, magnifying prices

Grocery shoppers have come across a 'strange phenomenon,' largest circulating daily Helsingin Sanomat (siirryt toiseen palveluun) (HS) writes, and that is the shrinking packages of supermarket products.

However, prices have still gone up despite the smaller size of products, a trend the paper describes as 'shrinkflation.'

According to a reader poll conducted by the paper, shrinkflation has affected a range of Finnish shopping list staples including butter and margarine, tuna cans, oatmeal, cheese, minced meat, sausages, coffee, quark and rye bread.

Shrinkflation can be a necessary step for companies to remain competitive, secretary general of the Consumers’ Union of Finland Juha Beurling-Pomoell told HS.

"It can be seen as a fraud, even though it is not officially a fraud, if the weight of the product is correctly marked on the packaging," Beurling-Pomoell said, adding that "shrinkflation may be a necessary gamble in times of crisis, but it must be done visibly and marked on the packaging."

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