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Business news in Pictures



Private equity firm EQT Partners hit by Swedish government with tax penalties.  EQT Partners describe it as "Unreasonable decision."

Tuesday, 20 August 2013
The Swedish tax authorities today announced a decisions to retroactively tax some 20 current and former employees of EQT Partners AB and the company EQT Partners AB for the income years 2007-2009.


Catena acquires logistics properties for Skr3.8 billion while Gustaf Hermelin proposed as new CEO

Tuesday, 20 August 2013
Property company, Catena AB announces it has entered into a conditional agreement with Brinova Fastigheter AB (“Brinova”) for the acquisition of Brinova Logistik AB, which owns 43 logistics and warehouse properties comprising a lettable area of 655,000 square meters (“The Real Estate Portfolio”).


The Swedish government choose to fly Norwegian instead of SAS - a slap in the face of SAS?

Monday, 19 August 2013
Airliner Norwegian has once again gained the deal with the Swedish government and the Swedish Armed Forces regarding domestic travel. This is done overlooking SAS which the Swedish government own shares.


New share issue provides Bluefish with approximately SEK 41 million

Monday, 19 August 2013
The pharmaceutical company Bluefish announces that it has completed three directed new share issues, which in total provides the company with approximately SEK 41 million.


Real Future collaborates with Ericsson to expand 3G and 4G coverage in Thailand

Monday, 19 August 2013
Ericsson will provide mobile broadband network for True Mobile's Real Future brand to meet growing data traffic demand in Thailand, according to a press release.


Swedish media company, MTG prolongs exclusive rights to Barclays Premier League football in the Baltics

Monday, 19 August 2013
The Swedish media organisation, Modern Times Group (MTG) AB, which has international operations around the Nordic and Balkan regions announced today that it has prolonged the exclusive broadcasting rights to England’s Barclays Premier League in Estonia, Latvia and Lithuania on all platforms


Atlas Copco to acquire Edwards, expanding into process vacuum solutions

Monday, 19 August 2013
Atlas Copco AB announces that it had entered into an agreement to acquire Edwards Group Ltd. Ewards, a said to be a leading global supplier of vacuum and abatement solutions for an amount of up to BSEK 10.6 (BUSD 1.6).


Technical problems that grounded Arlanda Airport are now resolved

Saturday, 17 August 2013
The technical problems which caused disruptions in air traffic at Stockholm Arlanda Airport are now resolved and the system is running normally, Svedavia that runs the airport writes on its website.


Lagercrantz Group's acquisition of Asept International AB

Friday, 16 August 2013
Electronics, electricity and communication group, Lagercrantz announced it has acquired all shares in the Swedish company Asept International AB.


H & M is considering production in Ethiopia as a first step test of low cost production destination

Friday, 16 August 2013
Fashion giant Hennes & Mauritz is glancing at Ethiopia as a possible new low-cost country in which the company may  start looking at an area where production can start shifting to.


Changed group organization and new manager for Sweden within BE Group

Thursday, 15 August 2013
Steel and metal dealer, BE Group announces that it has appointed Kalle Björklund as the new head of Business Area Sweden and President of BE Group Sverige AB.


Summer just getting tougher for Swedish fashion giant, H & M

Thursday, 15 August 2013
Clothing chain H & M sales in comparable units decreased by 1 percent in July whereas the Group total sales including VAT in local currencies increased by 9 percent compared to the same month the previous year.


The battle for Saab to sell Jas Gripen to the Swiss military just get tougher as French Dassault make an improved bid.

Thursday, 15 August 2013
The French aircraft manufacturer Dassault has made a competing bid for the sale of its fighter jets to Switzerland, thus putting Swedish Saab either on a precarious situation or on the defensive.


Genovis evaluates new technology for early diagnosis of cardiovascular disease

Wednesday, 14 August 2013
Genovis AB aanouces that it has signed an agreement with Repiratorius to test and evaluate RESP-3000 as a new biomarker for early diagnosis of cardiovascular disease using PET-Imaging.


Atlas Copco wins large compressor order for Russian fertilizer market

Wednesday, 14 August 2013
Atlas Copco announces that it has won a contract to deliver compressors to Russian chemical and fertilizer specialist JSC Acron. The order is valued at around MEUR 13 (MSEK 113).  


EQT backs accelerated growth of Swiss dental chain Swiss smile

Wednesday, 14 August 2013
Private equity group,  EQT announced that it has invested CHF 44 million in Swiss dental chain swiss smile (“swiss smile” or the “Company”) based on a partnership agreement with the founders and majority owners Dr Haleh Abivardi and Dr Golnar Abivardi.


No more free online news in Denmark as all major newspapers institute payments wall

Tuesday, 13 August 2013
The idea of no free news is heating up in Denmark as newspapers there join some in Sweden, the UK and other places to charge for new content.


Volvo Trucks cab factory shows interest in expanding its workforce with 250 people

Tuesday, 13 August 2013
Volvo Trucks cab factory in Umeå expects to expand its workforce by approximately 250 people. The reason is improved order intake of Volvo 's trucks.


Finnish energy company, Fortum conclude coal plants shut down.

Tuesday, 13 August 2013
Finnish energy company, Fortum is to close electricity generation from its plant Ingå (Inkoo) coal-fired power plant in Finland by February next year resulting to lay off  of 80 employees at the plant, the company said in a press release.


Hilding Anders to acquire Carpe Diem Beds of Sweden

Tuesday, 13 August 2013
Hilding Anders, Europe’s leading bedding provider, announced it has acquired Carpe Diem Beds of Sweden based in Lysekil, Sweden.


Danish pharmaceutical group Novo Nordisk increased operating profit by 15 percent for the first six months of 2013

Thursday, 08 August 2013
The Danish pharmaceutical group Novo Nordisk reported on Thursday it accounts for the second quarter of 2013, which turned out to be better than expected.


Fall in Swedish corporate bankruptcies and signs of economic improvement start being felt

Tuesday, 06 August 2013
The number of corporate bankruptcies in Sweden have been reported to have dipped because they reached a total of 456 in July, a decrease of 3 percent compared with the same month in 2012.


MTG acquires leading Bulgarian online business

Tuesday, 06 August 2013
Modern Times Group or MTG announced that it has signed an agreement to acquire 70percent of the merged assets of Darik News and Net Info


Okay! Volvocars doing well in China

Monday, 05 August 2013
Volvo Cars Corporation's main product, Volvocars is doing well in China, and it has helped pulls the cars world sales to new heights.


Volvo Car Corp., is improving in the USA but not fast enough comparatively

Friday, 02 August 2013
Volvo Cars corporations did their best in the last month of July in the United States in terms of sales since 2009.Yet it slipped compared to its competitors.


Church of Sweden makes billion in profits but membership continues to fall

Friday, 02 August 2013
Although the number of members in the Church of Sweden is steadily decreasing, so does revenue. Last year, the Church of Sweden was in the black financially though with a profit of Skr1.3 billion.


More pain in the pharmaceuticals as Meda see profit dive

Friday, 02 August 2013
Pharmaceutical company Meda reports an EBITDA profit of Skr922 million in the second quarter of 2013.


Diaverum to cooperate with Houses of Mercy on Campos dos Goytacazes clinic project

Thursday, 01 August 2013
Swedish renal care specialist Diaverum broadens footprint by cooperating with a House of Mercy on the construction of a dialysis clinic in Campos dos Goytacazes, in the State of Rio de Janeiro, Brazil.


Artimplant files for bankruptcy driven by litigations and cash drought

Thursday, 01 August 2013
Artimplant, a biomaterials company focused on solutions to problems in orthopaedic announced that its Board of Directors and the CEO have decided to apply for its own bankruptcy.


Loomis reports strong second quarter earnings

Thursday, 01 August 2013
Cash handling company Loomis reports a operating income (EBITA)1) for the second quarter amounted to Skr 276 million  compared to Skr225million same period a year ago and the operating margin improved to 9.8 percent (against 7.8).


Danish pharmaceutical group Novo Nordisk increased operating profit by 15 percent for the first six months of 2013

Thursday, 08 August 2013
The Danish pharmaceutical group Novo Nordisk reported on Thursday it accounts for the second quarter of 2013, which turned out to be better than expected.


Fall in Swedish corporate bankruptcies and signs of economic improvement start being felt

Tuesday, 06 August 2013
The number of corporate bankruptcies in Sweden have been reported to have dipped because they reached a total of 456 in July, a decrease of 3 percent compared with the same month in 2012.


MTG acquires leading Bulgarian online business

Tuesday, 06 August 2013
Modern Times Group or MTG announced that it has signed an agreement to acquire 70percent of the merged assets of Darik News and Net Info


Okay! Volvocars doing well in China

Monday, 05 August 2013
Volvo Cars Corporation's main product, Volvocars is doing well in China, and it has helped pulls the cars world sales to new heights.


Volvo Car Corp., is improving in the USA but not fast enough comparatively

Friday, 02 August 2013
Volvo Cars corporations did their best in the last month of July in the United States in terms of sales since 2009.Yet it slipped compared to its competitors.


Church of Sweden makes billion in profits but membership continues to fall

Friday, 02 August 2013
Although the number of members in the Church of Sweden is steadily decreasing, so does revenue. Last year, the Church of Sweden was in the black financially though with a profit of Skr1.3 billion.


More pain in the pharmaceuticals as Meda see profit dive

Friday, 02 August 2013
Pharmaceutical company Meda reports an EBITDA profit of Skr922 million in the second quarter of 2013.


Diaverum to cooperate with Houses of Mercy on Campos dos Goytacazes clinic project

Thursday, 01 August 2013
Swedish renal care specialist Diaverum broadens footprint by cooperating with a House of Mercy on the construction of a dialysis clinic in Campos dos Goytacazes, in the State of Rio de Janeiro, Brazil.


Artimplant files for bankruptcy driven by litigations and cash drought

Thursday, 01 August 2013
Artimplant, a biomaterials company focused on solutions to problems in orthopaedic announced that its Board of Directors and the CEO have decided to apply for its own bankruptcy.


Loomis reports strong second quarter earnings

Thursday, 01 August 2013
Cash handling company Loomis reports a operating income (EBITA)1) for the second quarter amounted to Skr 276 million  compared to Skr225million same period a year ago and the operating margin improved to 9.8 percent (against 7.8).


SAS Group finalises sale and leaseback of six aircrafts - earned SAS Skr800 million

Wednesday, 31 July 2013
Crisis hit Airliner SAS announced that it had lend EUR 35 million, corresponding to Skr 304 million worth of its aircraft through a so-called private placement of a bond. At the same time it strengthens its checkout with a half billion Swedish Krona.


Etrion Announces Power Purchase Agreement to provide up to 23 GWh per year of Solar Mining Company in Chile

Wednesday, 31 July 2013 - Geneva, Switzerland
Etrion Corporation (“Etrion” or the “Company”) (TSX: ETX) (OMX: ETX), an independent solar power producer, announces it has entered into a Power Purchase Agreement (PPA) with Atacama Minerals Chile S.C.M. (“Atacama Minerals”), to provide electricity to its Aguas Blancas iodine mine in Chile (the “Aguas Blancas Mine”).


Search engine company, Eniro announces reduction in share capital

Wednesday, 31 July 2013
Sweden's Local search engine  and yellow pages company, Eniro announces that it has received permission from the Swedish Companies Registration Office, pursuant to a resolution made by the Annual General Meeting on April 25, 2013, to carry out a reduction of the company’s share capital.


DiaGenic provides update on key clinical programs

Monday, 29 July 2013
DiaGenic the Norwegian medical company announces that the validation study for MCItect®, a blood based diagnostic test for Alzheimer’s disease in the pre-dementia stage, has failed to reach the study goals.


AAK strengthens Food Ingredients by acquiring Unipro in Turkey

Friday, 26 July 2013
AAK, leading producers of high value-added vegetable oils and fats, has acquired Unipro from Unilever.


FDA acknowledges receipt of resubmission of the new drug application for investigational compound dapagliflozin for the treatment of type 2 diabetes

Friday, 26 July 2013
AstraZeneca and Bristol-Myers Squibb Company today announced that the U.S. Food and Drug Administration (FDA) has acknowledged receipt of the New Drug Application (NDA) resubmission for investigational drug dapagliflozin for the treatment of adults with type 2 diabetes.


More loss pressure on Energy Company Vattenfall after yesterday’s massive write down

Wednesday, 24 July 2013
The final bill for Vattenfall's bad business looks set to land at about the same level as the cost of building a new nuclear plant. Then the question is if Vattenfall can afford both. The answers vary depending on the attitude to nuclear power.


Great figures from Volvo Group

Wednesday, 24 July 2013
Truck giant Volvo's reports a sharp fall in profits in the second quarter. Earnings in the period was however much better than expected.


Volvo Group North America Plans $15M Office Near Greensboro Campus

Wednesday, 24 July 2013
Volvo Group North America is planning a $15 million office building near the Greensboro-High Point border.


Swedish state owned Vattenfall in billion loss - writes down Skr29.7 billion and to split the company

Tuesday, 23 July 2013
Swedish state owned Energy Company, Vatenfall AB, the Nordic region’s largest utility company, writes down the value of its assets by Skr29.7 billion.


Police raids carried out at the facilities of AstraZeneca in China

Monday, 22 July 2013
Pharmaceutical company AstraZeneca's office in Shanghai was visited by police on Friday, and one of the employees was questioned.


Swedish IT industry bemoans slow and long processing times for immigrant badly needed skills

Monday, 22 July 2013
Swedish IT companies are having trouble finding badly needed skills in Sweden. Therefore, many are now recruiting from abroad - not within the EU but around the world. Nevertheless, the Swedish Migration Board's long turnaround time of work is hindering company's ability to gain access to these skills bring them to Sweden.


Earnings shortfall for defence company, Saab

Friday, 19 July 2013
The price for peace is the loss for Defence Company such as Swedish military hardware maker, Saab. Its earnings came in far below expectations with the defence group making a profit before tax of Skr11 million for the second quarter.


Scania doing well though currency and price pressure pressed hard on earnings

Friday, 19 July 2013
Truck manufacturer Scania reported operating income of Skr2.038 million for the second quarter of 2013.


Nokia reported no earning in the second quarter
Thursday, 18 July 2013
Finnish mobile phone manufacturer, Nokia reported earnings per share excluding extraordinary expenses (non-IFRS) at 0:00 euros for the second quarter of 2013


Oil money power intensifying in Sweden as the Middle East gradually throw its money into Swedish corporations

Thursday, 18 July 2013
Swedish stocks are now back to business with the Norwegian and the Middle East oil fund weighing in for more big buys after a period of slump. Norway's Oil fund is now one of the biggest money houses increasingly owning Swedish assets but the Middle East oil money is also competing strongly.


Earnings shock from Ericsson

Thursday, 18 July 2013
Despite the strong gross margin, telecom company Ericsson fails to reach up to expectations in terms of earning.


Ikea reported to be the biggest foreign landowner in China

Wednesday, 17 July 2013
Swedish furniture giant, Ikea has been identified as the largest foreign landowners in the China. According to Swedish daily Dagens Nyheter citing the Chinese Times Ikea possesses a total of 640,000 square meters of land.


TeliaSonera reports impressive profit despite dabbed with bribery and corruption scandals

Wednesday, 17 July 2013
The scandal surrounding TeliaSonera's business in Uzbekistan has led to major changes in its management but the stigma of corruption and bribery does not seem to had scared off subscribers. The company posted profit before tax of Skr5.519 million for the second quarter


Svenska Handelsbanken reports better results than last year

Wednesday, 17 July 2013
Svenska Handelsbanken  reported a EBIT of Skr4.723 million for the second quarter of 2013, which is better than last year's Skr 4,412 million in the same period.


Atlas Copco announced that it won geothermal order in Turkey

Wednesday, 17 July 2013
Atlas Copco announced that it won a second major order in Turkey to deliver equipment for two renewable energy geothermal power plants. The order value is circa MUSD 23 (MSEK 150).


Nordea delivered according to expectation

Wednesday, 17 July 2013
 Nordic region's biggest bank Nordea made  an operating profit of Skr9.1 billion during the second quarter of 2013. That was higher than what the analysts who monitor the company had expected. Expectations was  for Skr 8.9 billion.


SKF's impressive performance - A mixed baggage

Tuesday, 16 July 2013
Swedish Ball bearing manufacturer SKF reports a profit before taxes including non-recurring items of SEK 1.627 million for the second quarter of 2013.


Swedbank reports lower than expected earnings

Tuesday, 16 July 2013
Swedish banking group Swedbank posted a second-quarter operating profit that missed forecasts on weaker-than-expected net items at fair value and on an unexpected write-down related to its IT system.


Sweden's industrial production continues to remain depressed

Monday, 15 July 2013
Swedish industrial production decreased by 2.6 percent in May compared to April in seasonally adjusted figures. Compared with May 2012, industrial production decreased by 7.3 in calendar adjusted figures.


ContextVision wins important patent litigation against Sapheneia

Monday, 15 July 2013
The Stockholm District Court has ruled that ContextVision is the real owner of a key patent application filed by Sapheneia in its own name in September 2006. The patent application identifies two former employees of ContextVision as inventors.


H&M fails again to meet sales expectation

Monday, 15 July 2013
Fashion chain H&M reports June sales that have reportedly failed to meet expectations. Total sales rose 13 percent compared with the same month last year when sales growth was 13 percent. Sales figure is excludes of currency fluctuations and including VAT.


SEB reports better than expected quarterly report

Monday, 15 July 2013
SEB reports an operating profit of Skr4.8 billion in the second quarter. That compares with an expected Skr4.0 billion.


Amazon on its way to Sweden - Fears grip high street booksellers and tax officials

Saturday, 13 July 2013
The U.S. e-commerce giant Amazon is approaching Sweden. This week the company is said to have started a partnership with the mobile operator "three" reports the Swedish business daily, Dagens Industri on Friday.


Plastic surgeons in Denmark not affected by the economic crisis

Thursday, 11 July 2013
Although the economic crisis has meant that many have had to tighten their belts, there are other places where there is not feeling of hard times - plastic surgeons.


Complaints about Ikea's furniture porn looking site

Wednesday, 10 July 2013
An Ikea furniture site, has been found disturbing by some a user who posted a comment about it on the GIZMODO site.


Landline telephone continues to get unpopular in Sweden

Wednesday, 10 July 2013
Landline telephone continues to shrink rapidly pushing telecom companies out of profitability.


SAS no longer lead in punctuality

Wednesday, 10 July 2013
Scandinavian airlines system SAS has found it hard to keep up to its traditional punctuality leadership.


Norwegian oil fund continues to increase investment in Sweden

Wednesday, 10 July 2013
The Norwegian oil fund continues to increase its investments in Sweden and has now expanded its ownership in the Swedish property company, Wihlborgs.


Investment company, Oresund enjoys increased worth

Tuesday, 09 July 2013
Investment AB Öresund , owned largely by financier Mats Qviberg, reported a net asset value on June 30 at Skr121 per share.


Fall in increasing orders for the Swedish industries

Monday, 08 July 2013
New orders for Swedish industrial sectors continue to struggle following the decrease in April with decreasing new orders also in May.


Shrinkage in Swedish pharmaceutical exports as the sector experiences a fast decline

Sunday, 07 July 2013
The Sweden's pharmaceutical industry has shrunk dramatically since the millennium as exports of medicinal products from Sweden dropped.


H&M co-owner, got well paid - half a billion krona in dividends

Saturday, 06 July 2013
H & M co-owner Stefan Persson pick out half a billion in dividends from his holding in clothing chain, as the money rain into the entrepreneur's pocket.


Stora Enso entangled in a bribery scandal in China

Wednesday, 03 July 2013
Stora Enso is strong Scandinavian company with a global face. It describes its operation as a rethinker of the paper, biomaterials, wood products, and packaging. Stora Enso operates worldwide and employs some 28 000 people and also in China, were the webs of corruption has caught up with the company or not.


Swedish building construction sector is teaming with bribery and corruption

Tuesday, 02 July 2013
Sweden is seen as a very quirky cleans and organised country with low corruption and high rule of law in the northern hemisphere, right? Wrong. One sector shows just how corrupt Sweden might be - the building and construction sector.


Volvocar Corp., given Green light for production operations in China

Tuesday, 02 July 2013
Chinese owned Swedish automaker, Volvocar Corporations VCC has finally been given the green light by the Chinese authorities to start production of Volvo cars in China.


Kongsberg Automotive (KA) wins 3 new key contracts in China worth €116m

Monday, 01 July 2013
Norway based automotive supplier, Kongsberg Automotive (KA) announced that it has secured 3 new contracts with a combined value of €116million over 5 years from various markets.


Only two Swedish companies have signed the agreement on safety in Bangladesh tailoring factory 

Saturday, 29 June 2013
So far, 66 international clothing companies have signed the agreement that will improve building and fire safety, as well as strengthening workers' rights for textile workers in Bangladesh. But only two Swedish companies have signed.


Alfa Laval wins marine environmental order, worth SEK 170 million

Friday, 28 June 2013
Alfa Laval announces that it has won an order to supply Alfa Laval PureSOx exhaust gas cleaning systems for retrofit installation onboard vessels.


Sweden joined EU finance ministers reach draft agreement on bank bailouts

Thursday, 27 June 2013
Finance ministers from the European Union (EU) have agreed an outline plan on how to rescue troubled banks - without leaving taxpayers to face the bill. From the Swedish side of the agreement table, the Swedish Finance Minister, acknowledged that it was a "compromise Sweden can live with" but was not fully satisfied.


Moody's lowers rating on Swedish bank

Thursday, 27 June 2013
Moody's lowers the long and short term rating of Swedish Länsförsäkringar Bank to A3/P-2 from previous A2/P-1, with outlook stable.


Ingvar Kamprad moves back to Sweden after years of economic exile to Switzerland

Wednesday, 26 June 2013
 The founder of Ikea, Ingvar Kamprad, now wants to get closer to my family and friends and thus decides to move back to Sweden after 40 years of self imposed economic exile abroad.


SAS ordering jumbo jets worth Dkr18 billion for renewal of long haul fleet

Tuesday, 25 June 2013
Up to 18 new Airbus aircraft are reported to be on the way, ordered by Scandinavian airliner, SAS after signing a huge lease.


Ericsson gained contract to build and expand mobile network in Azerbaijan

Tuesday, 25 June 2013
Ericsson has received an order for a "major" network expansion from Azercell in Azerbaijan. The agreement covers 2G and 3G.


Recent speculation to create a Nordic air giant if Finnair and SAS merge

Monday, 24 June 2013
Finnair feels that there are potentials if it merges with SAS, according to Finnair CEO Pekka Vauramo.


Sweden imposes Television tax to affect computer, decisions on smart phones and tables awaited

Monday, 24 June 2013
Watching television or films on personal computers in Sweden has now attracted the Swedish government to stretch the television tax to PCs blaming it on technological evolution. However, it remains unclear as to whether it also applies to mobile phones and tablets.


Danish fashion firms sign more binding agreement with Bangladesh, two months after factory collapsed

Monday, 24 June 2013
Two months after a clothing factory in Bangladesh collapsed, killing 1,100 workers, Danish fashion companies are only now ready to commit themselves to signing the agreements which aimed at improving conditions for workers and guaranteeing their safety.


Worries in the Danish financial community as the Danish FSA has failed to check 21 banks for over three years

Friday, 21 June 2013
Analysts and financial officials in Denmark are worried that a serious bank crisis may be looming in the horizon, because 21 banks have not been visited by the Danish Financial Supervision Authority, Finanstilsynet, (FSA) for three years.  As a result of this loose control, these banks and more may be on the verge of collapse without the authorities know anything about it.


Danish wind Power Company, Vestas sells wind farms in Eastern Europe

Friday, 21 June 2013
Danish wind turbine manufacturer, Vestas sells wind farms in Romania and Bulgaria.


Associated Press buys into Swedish mobile video company, Bambuser

Thursday, 20 June 2013
The Associated Press buys into Swedish mobile video company Bambuser. The company, which provides live video via mobile phones, has been operating a small income and large losses.


Nordea to sell card Payment Company

Thursday, 20 June 2013
Nordea believed, along with the other major shareholders to sell payment solutions company, Nets. The deal is expected to be worth between Skr9 and Skr11.5 billion.


Lower than expected profits from H&M

Wednesday, 19 June 2013
Clothing giant Hennes & Mauritz reported a profit before tax of Skr6.125 million for the period from March to May, the second quarter of its fiscal year. The corresponding period in 2012, earnings Skr7,053 million.


Swedish government sells more Nordea shares after impressive demand

Wednesday, 19 June 2013
The Swedish government has put additional Nordea shares for sale this morning, after the first put for sale last night saw record quick sell out with interest to buy more.


Swedish government sells more of its shares in Nordea

Tuesday, 18 June 2013
The Swedish government plans to sell up to 230 million shares it owns in Nordea, the Scandinavian regions biggest bank. That will correspond to 5.7 percent of its stake in the bank and will mean that Sweden will cut its overall stake in the bank from 13.4 percent to 7.8 percent.


Forest company, Stora Enso eliminate 2,500 employees

Tuesday, 18 June 2013
Forest products group Stora Enso plans to reduce its workforce by approximately 2,500 people. 750 jobs lost in Sweden.


AstraZeneca's Medimmune and NGM biopharmaceuticals agreement to design therapies for diabetes and obesity

Monday, 17 June 2013
AstraZeneca today announced that MedImmune, its global biologics research and development arm, and NGM Biopharmaceuticals, Inc. have entered into an exclusive agreement to discover, develop and commercialise novel therapeutics from NGM’s enteroendocrine cell (EEC) programme for the treatment of type 2 diabetes and obesity.


Carnegie strengthens its investment banking team in Norway through the acquisition of NRP Securities

Monday, 17 June 2013
Sweden based leading Nordic integrated investment bank Carnegie, announces that it has signed an agreement whereby Carnegie will acquire NRP Securities, a part of the Norwegian Group Ness, Risan & Partners.


Volvo Group launches noiseless electric buses in Gothenburg, Sweden, as its May Deliveries fell 9 percent

Monday, 17 June 2013
Swedish truck maker Volvo AB said Monday that it plans to launch a buses system that glide noiselessly without emissions, pick up passengers indoors and which are powered by a renewable source of electricity. It comes as the company says its May delivery was down 9 percent.


Norwegian Kongsberg Automotive is a big contract deal with a major Heavy Duty Truck manufacturer

Monday, 17 June 2013
Norwegian Engineering Company, Kongsberg Automotive announced that its Driver Control Systems (DCS) gained a further EUR 20 million of new business with one of the global leading manufacturers of Heavy Duty Trucks.


Altor and Bain Capital submit offer to Cermaq ASA for EWOS

Monday, 17 June 2013
Altor Fund III GP Limited (“Altor”) and Bain Capital Europe, LLP (collectively, “Bain Capital”), have submitted an offer to Cermaq ASA for EWOS, valuing the business at NOK 6.2 billion (Enterprise Value), with the intent to sign definitive agreements by mid-July.


Johan Dennelind appointed New President and CEO of TeliaSonera

Sunday, 16 June 2013
Swedish - Finnish telecoms company, TeliaSonera has had an appointment of a new CEO to replace Lars Nyberg, who resigned in February. He is Johan Dennelind.


Norwegian registers its Dreamliner in Ireland not Norway - Why?

Saturday, 15 June 2013
Airliner, Norwegian has registered its new Dreamliner aircraft in Ireland instead of Norway or any other Nordic country and more are said to follow. Given that Norway is not a member of the EU but a member of the Nordic Union, it could be easy to speculate the reason.


More money pumped into Volvocars Corporation

Friday, 14 June 2013
The Chinese owners of Volvo Cars Corporation, Geely, led by Li Shufu has used his power as the strong shareholder and pumped in nearly Skr1.8 billion into the company.


Conventional news media loosing trust or just a shift: An increasing number of Swedes rejects conventional news media

Wednesday, 12 June 2013
New figures from the survey of the Swedish media viewership and readership from conventional news sources show that many Swedes are opting out of TV channels and various official news programs such as morning newspaper.


Just saying: Fire at a top Swedish nuclear power plant Ringhals

Wednesday, 12 June 2013
There was a large fire this morning at the nuclear power station in Sweden. According to reports, a fire was discovered a turbine at the Ringhals nuclear power plant which is said to be under control now.


Fashion chain H & M'S sales worse than expected

Wednesday, 12 June 2013
H & M same-store sales were flat in May (+3). Total sales rose by 9 percent compared with the same month last year when sales growth was 12 percent.Sales figure is excluding currency fluctuations and including VAT.


Swedish free school company, JB Group files for bankruptcy

Tuesday, 11 June 2013
After first announcing the closure of  some schools due to lack of sufficient student enrolment, Swedish free school company, JB Group is filing for bankruptcy, signalling the death of one of Swedish biggest education companies.


Former bosses of Nokia doing their best to make Finland attractive to investors

Tuesday, 11 June 2013
The graduate dissipation of Nokia, Finland's strongest IT Company had left a huge vacuum in the country's tech department. This has made the former directors and specialists of the company to use their contacts and connections to force moves to attract investment in to the country.


Nordic cities not too expensive for expatriates - But not Norway which is the priciest and Helsinki the cheapest

Tuesday, 11 June 2013
Scandinavia is reputed o its expensiveness but it turn out that other cities around the world has tended to be more expensive than expected.


LOVEFiLM closes down its Sweden operation

Monday, 10 June 2013
The largest internet network of DVD rental services, in Sweden, LOVEFiLM has reportedly closed down.  


Swedbank announces tender offer for government guaranteed notes

Monday, 10 June 2013
Swedbank today announced a tender offer to the holders of certain series of its outstanding notes which are guaranteed by The Kingdom of Sweden.


Loomis wins a major cash handling assignment in Norway

Monday, 10 June 2013
Cash handing and security Service Company, Loomis announces that its Norwegian subsidiary has been appointed by DNB, the largest bank in Norway, to take over all their cash handling services in the country.


Novo Nordisk in tax bust up with Danish tax authority as the company accused of channelling billions to tax havens

Sunday, 09 June 2013
The Danish tax authority is seeking Dkr5.5 billion in additional tax from healthcare company, Novo Nordisk. The grounds for that is accusation that the company has been channelling unaccounted amounts of money abroad to tax havens. Novo however has rejected accusation.


Swedish prosecutors want to know how Swedish television obtained the materials, which it used against Telia-Sonera in Uzbekistan

Friday, 07 June 2013
Talking about biting the figure that feed you, the Swedish national state own television, Swedish television (Svt) seems to have made its master angry when it exposed  critical questionable ethical behaviour about one of Sweden state owned power companies, Telia Sonera.


Ikea founder, Ingvar Kamprad leaves the board of Inter IKEA but will remain an advicer

Wednesday, 05 June 2013
The man who founded the globally known Swedish furniture giant, IKEA back in 1943, Ingvar Kamprad will leave the Company finally. According to Swedish news reports, his youngest son Mathias Kamprad, 44 takes over as Chairman.


Volvo Car Corporation inaugurates Chinese plant

Wednesday, 05 June 2013
Volvo Car Corp., opened its doors for its new factory in Chengdu, China that will employ 1,100 people and plans to produce for the Chinese and Asian market.


Evidence that Volvocar has started seeing increasing sales in China

Tuesday, 04 June 2013
There is increased evidence that his year, Volvocars has started seeing increased car sales in China. According to reports, sales grew by 27 percent compared with the same period last year.


Top Chinese politicians visits their asset, Volvo cars corporation in Gothenburg

Sunday, 02 June 2013
Gothenburg is still the headquarters of Volvocar corporations even though it has been owned by the Chinese now for a while. The automobile company has been having some poor performances in the market of late when it comes to sales.


Loomis wins prestigious cash handling business in Turkey

Tuesday, 28 May 2013
Loomis announces that its Turkish subsidiary has signed a three-year agreement with HSBC Turkey for cash handling services across Turkey.


How the British TV channel 4 gave a different picture of the Swedish fashion house H&M

Monday, 27 May 2013
In an exclusive news report, the British TV channel 4 known for its in-depth investigative news reports has exposed in a first hand view of how worker in Bangladeshi sweatshop factories work.


Norwegian tipped to grow above SAS within 5 years in the Nordic air market

Monday, 27 May 2013
The Norwegian budget airliner, Norwegian has been tipped to become the biggest Nordic airliner, surpassing SAS with 5 years.


Former Saab boss,  Jan Ake Jonsson forced leaves Vattenfall

Monday, 27 May 2013
Accused of tax fraud while CEO of Saab automobile, Jan-Ake Jonsson leaves Vattenfall's board, not on his own though, but pushed by the Minister for Financial Markets, Peter Norman  who confirmed its.


Question surrounding Victor Muller's consultancy fees as Saab automobile craved money in the last minutes before bankruptcy

Friday, 24 May 2013
Question have continued to be asked seeking clarification about where all the money within the Swedish automaker, Saab automobile went to just a few months before the company went under. It is being claimed that the last bastion of money that was left was signed over by the CEO and Chairman, Victor Muller in a buzzard and controversial fashion


Swedish prosecutor says they want to talk to Victor Muller but He has no idea about that

Thursday, 23 May 2013
Former chairman and CEO of Saab automobile Victor Muller is said to be among those the Swedish tax prosecutors want to speak to but it emerged that he has not been contacted by the authorities.


The extent of Ericsson's bribery practices exposed a new report says

Thursday, 23 May 2013
Telecoms giant Ericsson gave a Swiss agent a heavy plastic bag, which was handed over in a park. This is just one of several points in which the U.S. authorities are taking to examine the telecom giant in relations to corruption and bribery allegations.


Former CEO of Saab automobile, Muller, to be interrogated by Swedish prosecutors

Wednesday, 22 May 2013
The former majority owner and CEO of Saab Automobile, Victor Muller, will be questioned and likely be accused or indicted for economic crimes.


Expected falls in investments in Swedish industrial sector

Wednesday, 22 May 2013
Swedish industrial sector plans to decrease their investments as signs show a growing planned fall in volumes of expected planned investments such as in buildings and equipments. In 2013, some Skr53.7 billion in current prices stand at to be at stake in.


Swedish financial service authority penalised Forex Bank and given them a warning

Wednesday, 22 May 2013
Forex Bank in Sweden has been warned and penalised to pay Skr 50 million for failing to handle its financial operations with a failed financial services organisation Panaxia. The Swedish Financial Authority, Finansinspektionen (FI) made this knownin a press release out today.


New information that has throw hot water on the dodgy nature TeliaSonera's business in Uzbekistan - A culture of bribery and corruption

Wednesday, 22 May 2013
New information on TeliaSonera's controversial business in Uzbekistan has emerged in which various Swedish media sources are reporting that the company negotiated as recently as last August with Gulnara Karimova, the daughter of the country's dictator for exclusive business access.


Capacity cuts to take place in September in Holmen

Tuesday, 21 May 2013
Timber company, Holmen which previously announced closures of PM 3 at Hallsta Paper Mill and PM 51 at Braviken Paper Mill says that will take place towards the end of September.


Former CEO of Saab automobile, Jan-Ake Jonsson arrested for serious economic offenses or various financial improprieties

Tuesday, 21 May 2013
The former boss of Saab automobile, Jan-Ake Jonsson and his former chief Financial Officer, Karl G. Lindstrom are now confirmed to have been the ones arrested as we reported yesterday.


Ericsson in new corruption suspicion - bribe Rumanian Minister

Tuesday, 21 May 2013
Swedish Telecom company, Ericsson is suspected of have bribed a Romanian cabinet ministers some 10 years ago.


A new accident in textile factory that produces clothes for H & M

Monday, 20 May 2013
H & M factory collapses in Cambodia signalling the growing problems embedded in factories in  Asia.

H & M seeking to move away from Asia but how can it resist the temptation of very cheap production cost?

Monday, 20 May 2013
Since the factory collapse that took 1,200 lives in Bangladesh, the Swedish fashion giant H & M has begun to explore the possibilities of production in South America and Africa.


Three people in Saab's management suspected of economic crimes

Monday, 20 May 2013
Three people from Saab Automobile's former management is suspected of serious evasion of tax for the period 2010 until 2011. Two persons have been arrested.


Different laws in taxes and fees from the open EU threatens threatens Swedish firms

Sunday, 19 May 2013
Swedish construction and transportation sectors have been calculated to be worst exposed to the effects of extreme competition and distortion from various EU places such that it could heavily affect Swedish businesses and companies.


Rumour:  Swedish TV Channel, TV4 to scrap its TV4 News program

Wednesday, 15 May 2013
There is rumour circulating in the Swedish media rumoursphere that the television station TV4, will be shelving its new 24 hour news channel.

Loomis wins Swedish central bank, Riksbank contract for coin warehousing and handling

Wednesday, 15 May 2013
Security and Cash handling company,  Loomis has been contracted by the Riksbank, Sweden’s central bank, to take responsibility for part of the Riksbank’s handling of coins in Sweden.

Big and Powerful - could Google become the Spotify killer?

Wednesday, 15 May 2013
Swedish music streaming company Spotify will know if it has stamina to stand against giant dinosaur search engine and advertising company, Google as it wait to take a bite deeper into the music streaming business sector.

Statoil is suspected to have manipulated oil prices - It office raided by European authorities

Wednesday, 15 May 2013
Officials from the European Free Trade Authority,  ESA carried out onTuesday a dawn raid on the oil group Statoil's headquarters in Stavanger, Norway, Statoil writes in a press release.



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