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Restructuring, Swedish Engineering group, Sandvik shed 1500 jobs

Wednesday, 28 November 2012
To show that the market is not working well, Sandvik, the Swedish an engineering group in tooling, materials technology, mining and construction is now working  to save Skr1 billion. This means that some 1500 people will be removed from the company's operation when it launches its most ambitious savings program.

Atlas Copco wins significant order in Colombia

November 27, 2012:
Atlas Copco has won an order valued at about MUSD 10 (MSEK 70), to supply equipment for the second phase of Colombia’s largest hydropower project, Ituango. The contract is the biggest received by Atlas Copco Colombia in its 26 years of operation.

VOLVO is to lay off 350 workers

Monday, 19 November 2012
Volvo Construction Equipment is laying off 350 employees at four plants in Sweden, various Swedish media reports say citing the tabloid, Aftonbladet as the initiator.

Statoil, threatens to leave Norway

Monday, 19 November 2012
Norwegian oil giant, Statoil is threatening to move operations from Norway to abroad because of the new tax rules.

MTG expands free-TV penetration and further strengthen pay-TV offering in Denmark

Friday, 16 November 2012
Modern Times Group MTG AB announced that it has signed a channel distribution agreement with Boxer TV-Access A/S (‘Boxer’) in Denmark, which will significantly boost the national penetration of MTG’s TV3 and TV3 PULS Danish free-TV channels.

Danish Shipping maestro, Maersk see boosts in profits  

Friday, 09 November 2012
The Danish shipping company Maersk reported a pre-tax profit of Dkr 11.7 billion for the first third month in 2012.

Husqvarna Group plans cost structure improvements

Wednesday, 07 November 2012
Husqvarna Group plans measures to improve the Group’s cost structure. The measures include layoffs in several countries, including Sweden.

Vattenfall Power Hedging Most For Four Years, New Energy Says
Tuesday, 30 October 2012
The level of hedging of power sales by Vattenfall AB advanced to the highest in more than four years, according to Bloomberg New Energy Finance.

Eniro missed earning targets once again

Thursday, 25 October 2012
Scandinavian search engine company, Swedish-based Eniro will not achieve the goal of increased revenue growth, including acquisitions, in 2012.

Atlas Copco opens a customer center in Burkina Faso

Stockholm, Sweden, October 22, 2012
Atlas Copco has opened a customer center in Ouagadougou, Burkina Faso, to strengthen the Group’s presence in western Africa with an increased offering of products and services to mining customers.

F1 star, Kimi Raikkonen may loose huge in a company he invested In - Reports

Friday, 30 November 2012
Formula 1 star, Kimi Raikkonen could make big looses in an investment he made in a company which has come under investigation for suspected fraud.

VOLVO cars corp., cuts production as demand sinks

Friday, 30 November 2012
Volvo Cars Corporation says it is to cut production of passenger cars in December  by 5500 cars due to weak market demand.

Swedish Finance Minister accused of banker bashing and "bullying the banks"

Thursday, 29 November 2012
Swedish Finance Minister, Anders Borg and his associate minister of the financial market, Peter Norman have been accused by the Swedish banking society of leading a witch-hunt against them. This follows their persistent "bankers bashing" which the public has now picked and are attacking the banks with in return.

Looks like Finnair would soon be getting into the market as state seek to reduce control

Wednesday, 28 November 2012
The Finnish government should abandon its majority stake in Finnair, and other owners found so that the new strategy for the growth of the airliner be guaranteed. This is the view of the Minister, Heidi Hautala (Greens) speaking to Yle, the Finnish broadcaster in the morning television.

Swedish banks making wealth from hidden fees on credit and debit cards
Tuesday, 27 November 2012
Swedish banks are enjoying what monopolies and company operating in environments were they have little competition do best. They can make money on the backs of their consumers anyhow as they wish. Evidence for this is how they use debit cards as cash cow.

Ericsson sues Samsung - report

Tuesday, 27 November 2012
Ericsson filed a lawsuit Tuesday in the United States against Samsung for infringing its patents, as two years of negotiations has failed to reach an concord.

Autoliv Expands in the U.S. - Increases capacity for sub-components to meet growing demand

Thursday, 22 November 2012
Autoliv Inc. says it is adding a sixth processing facility at its Promontory, Utah location to meet growing demand for airbag gas generant. This comes in addition to the recently announced new propellant factory in China.

Growing concerns about increase in Swedish corporate bankruptcies

Thursday, 22 November 2012
Swedish companies are finding it increasingly difficult to pay their bills as the number of payment orders is at record high levels.

SAS keep aircraft from lenders by changing its registration location

Thursday, 22 November 2012
SAS has re-registered two of its most valuable aircrafts to protect them from creditors, media reports in Denmark and Sweden are saying.

Swedish industrial production will take a halt during Christmas as gloominess persist in the markets

Thursday, 22 November 2012
Swedish industrial operations is in a place they'll rather not like to be at this moment and as the Christmas holidays approaches, many production places will close down early.

Swedish banks wave S&P credit rating downgrade threats to the background

Wednesday, 21 November 2012
The Swedish major banks are taking the threats from the credit rating organisation, Standard and Poor's (S&P), to place them on a negative outlook with relaxation noting that such a threat is not "for them," according to Handelsbanken's press officer Henrik Westman.

Interested parties in possible purchase of SAS withdrawn after EU rules

Tuesday, 20 November 2012
Companies from China and the some Arab countries had shown interest in buying SAS. After the company was rescued, it turns out that these companies have withdrawn their interest.

Ericsson expanding operations in Iran despite criticism

Tuesday, 20 November 2012
Ericsson is expanding its business in Iran. Two mobile phone operators have been promised continued cooperation with the Swedish company, an internal document seen by Reuters confirms.

Swedish banks suffer from downgrade

Tuesday, 20 November 2012
Standard & Poor's (S&P) is reported to have lowers the outlook of Swedish leading banks to negative from stable.

New attempts to sell SAS

Tuesday, 20 November 2012
The Swedish government has renewed efforts to try to sell the recently rescued airline, SAS.

SAS Cabin crew reach agreement with management and the future of the company looks good

Monday, 19 November 2012
The union representing the cabin crew for SAS have agreed with SAS and the company looks happy to continue operation and the talks of bankruptcy waved to the background.

SAS Group Management Rejects Offers From Cabin Crew, Pilots

Sunday, 18 November 2012
SAS (SAS) Group, the biggest Nordic airline, said management rejected offers from unions representing cabin crew and pilots during talks aimed at finding a way to save the carrier.
Airline management has ordered all aircraft outside Scandinavia to be refuelled and ready to return to base immediately, and crews on all outbound flights told to carry enough cash to meet expenses, SAS spokesman Mikkel Thrane said. Bloomberg report

Nokia's New Windows Phone, The Lumia 920 is being reviewed

Sunday, 18 November 2012
Just seven months after the Lumia 900's launch, Nokia is giving it another go with a new phone called the Lumia 920, mostly in the USA in which AT&T sells for $100 with a two-year contract.
Despite a few hardware upgrades like a sharper screen, wireless charging, and very capable camera, the Lumia 920 feels like Nokia took three baby steps forward but one gigantic leap backward. Read more from Business Insider

SAS management rejects pilots' bargaining deal submitted on Saturday - says not goo enough but negotiation continues.

Sunday, 18 November 2012
On Sunday, this network has learnt that the SAS pilots bid which was submitted on last Friday as their own bargaining chip in the rescue deal has been rejected by the SAS management.

Ikea finally cracked and apologizes for using political prisoners as labourers during communist times

Sunday, 18 November 2012
Ikea has finally cracked and accepted that it used political prisoners during communist times in East Germany to manufacture it furniture. This is something that Ikea had categorically rejected last year when the new first came out.

Swedish and Danish people would be happy if no more government money is pumped into SAS

Sunday, 18 November 2012
As crisis in SAS continues to persist, Swedish and Danish tax payers, who own a stake in the company have now started backing away from it. The Swedes and the Danes are reluctant to inject more money into the airline SAS, after years of financial injection that has instead led to more loss making.

SAS cabin worker's union submit their own side of the bargain to SAS management

Friday, 16 November 2012
As negotiations between SAS management and the unions started in earnest in Copenhagen on Friday, the cabin union have submitted their own proposal as a route to an agreeable solution.

GKN to cut down 350 jobs in Trollhättan near Gothenburg as competition pressures

Friday, 16 November 2012
GKN Aerospace in Trollhättan, former Volvo Aero, will reduce its workforce by 350 people. The reduction will be achieved through natural attrition, according to media reports.

Scania to supply engines for aircraft towing vehicles

Friday, 16 November 2012
Scania has signed an agreement to deliver up to 3,000 Tier 4i emission-compliant engines for aircraft dispatch towing and pushback vehicles.

Uppsalla University to cut 325 jobs from the Academic sector

Friday, 16 November 2012
Uppsala University Hospital has unveiled yet another saving suggestions - that 325 posts are to be cut according to various reports.

Volvo draws down production

Friday, 16 November 2012
Weak global economic situation is weighing on heavy vehicle producer, Volvo, as it tends to cut down production as demand slide.Volvo Group delivered 20,254 vehicles in October, according to new figures from the company.

Worried about the future of SAS drives customers away for fear of being stranded in no man's land

Thursday, 15 November 2012
Concerns about the future of SAS has left huge amount of unsold tickets this week meaning that it would even add more pain to the cash strapped company.

Swedish bank, SEB rejects as exaggeration Report that it would loss big should SAS goes under

Thursday, 15 November 2012
Swedish bank, SEB spoke on Thursday and dismissed local media report that it would incur heavy losses on a potential default by airliner,  SAS which is struggling to survive.

Loomis says it is on our way to reach the margin target of 10% by 2014, at the latest

Thursday, 15 November 2012
Cash handler, Loomis said on Thursday  that the company is on its way to reach the margin target of 10 percent margin by 2014, at the latest as the company, at its capital market day in London, give an upbeats outlook of its operations and the amount of progress they have made in various markets

Scandinavia's largest airline, SAS is much closer to the abyss than previously thought - Reports

Thursday, 15 November 2012
Yesterday, the perception was that airliner, SAS was making progress and would remain buoyant in the future, but things don't seem to look as rosy as the company would have wanted. It has emerged late yesterday from Danish sources that SAS is much closer to bankruptcy than had been known thought of.

TeliaSonera expected to enjoy from the Russian Megafon IPO

Thursday, 15 November 2012
The Russian telecommunications operator, Megafon, where TeliaSonera is a part owner, has set price band for its IPO shares to range between 20 - 25 dollars apiece.

The sales of SAS would being in Skr3 billion - money badly needed to straighten its balance sheet

Wednesday, 14 November 2012
The sales of SAS subsidiary, Widerøe and the ground services should jointly raise Skr2 billion if SAS  is determined to achieve the objectives of its savings plan. It is determined that the total sales of the SAS components will bring in up to Skr3billion.

Norwegian government get tough on SAS survival deal

Tuesday, 13 November 2012
The Norwegian government finds itself on the cross road in relations to its SAS business. As public opinion in Norway is that SAS should left to go bust, the government is putting very tough demands on SAS, as the rescue package of the company was being negotiated.

New savings plan aimed at giving a life back to struggling airliner SAS

Monday, 12 November 2012
On Monday morning, SAS management presented a savings plan that is expected to lift the ailing Scandinavian flagship airliner, SAS. In the interim report presented today, SAS will get rid of 800 employees in Sweden and overall to knock off 6000 services and employees.

SAS present crisis plan as the Scandinavian States given green light for financial support for the company

Monday, 12 November 2012
Airline company, SAS is to borrow money from the banks, but also the principal owners will help the company set it up. First, the new collective bargaining agreement has to be concluded and the Scandinavian parliaments approve the plan.

SAS rescued at the last moment as rescue package presented - Danish media

Sunday, 11 November 2012
Scandinavian airliner, SAS is reported to have been saved from bankruptcy with a tough new savings plan, according to Danish media reports on Sunday. Among other things, 1,000 people will be made redundant.

SAS threaten with Bankruptcy but to present a rescue plan on Monday

Sunday, 11 November 2012
Scandinavian airliner, SAS is threatened with bankruptcy if the company goes ahead with salary reduction and poor working conditions, the workers union have threatened.

Scandinavian airliners, SAS finally hit a bump and now relies on owners for survival

Friday, 09 November 2012
Things are not looking so bright for the ailing Scandinavian airliners, SAS, as creditors don't trust the SAS's ability to pay back.

Björn Borg reported an improved profit and increased sales

Friday, 09 November 2012
Clothing Company Björn Borg reported a profit after tax of Skr 25.1 million for the third quarter of 2012 compared with Skr 24.1millionsame time last year. Earnings per share amounted to Skr 1.11, compared with Skr1.05 same time in the past year.

SAS defers interim report

Thursday, 08 November 2012
Scandinavian airliner, SAS will present its interim report in four days instead, as SAS postpone its third quarter report with reference to the ongoing negotiations on the new credit agreement.

H&M again world´s biggest user of organic cotton

Thursday, 08 November 2012
H&M was the biggest user of organic cotton worldwide in the second consecutive year in 2011, according to Textile Exchange´s latest Global Sustainable Textiles Market Report.

1550 jobs to go from Ericsson as it reduced operations in Sweden

Wednesday, 07 November 2012
Swedish Telecom giant, Ericsson to cut 1,550 jobs in Sweden as the company's measures taken to reduce costs and increase efficiency move to the next level.

Alfa Laval wins SEK 120 million-energy efficiency order in Saudi Arabia

Wednesday, 07 November 2012
Alfa Laval has received an order to supply Alfa Laval Packinox heat exchangers to one of the world’s largest petrochemical complexes in Saudi Arabia.

Ericsson's Network Equipment Market to grow to between 3 and 5 percent 2012-2015

Tuesday, 06 November 2012
Swedish telecom and Network equipment vendor Ericsson AB  reported on Tuesday that it expects the total network equipment market to grow at a compound annual growth rate of 3 to 5 percent a year between 2012 and 2015.

Swedish bankruptcies continues to increase as the economic climate continues to look uncertain

Tuesday, 06 November 2012
The number of corporate bankruptcies in Sweden continues to increase showing that the Swedish economy is under enormous pressures  and totalled 589 in October, an increase of 9 percent compared with the same month in the 2011.

Nordea Signs New Insurance Partnerships with Tryg and If

Tuesday, 06 November 2012
Swedish bank Nordea AB said on Tuesday that it has signed new insurance partnerships with Tryg A/S and If.

H & M call for an emergency meeting with Danish and Norwegian authorities after reports of worker exploitation in third world

Tuesday, 06 November 2012
Both the Danish and Norwegian governments have called for a meeting with the clothing giant, H & M after revelations about that the company pays low wages in Bangladesh and Cambodia.

Danish banking sector continues to struggle as a bigger band swallows a smaller one

Monday, 05 November 2012
Danish bank, Sydbank takes over Tønder Bank's banking activities, including employees, approximately 18,000 customers, real estate and other assets, but not hybrid capital, or so-called supplementary capital.

Hygiene and Forest Company, SCA will save more, affecting some 1500 employees

Monday, 05 November 2012
Hygiene and forest company SCA is launching a new program of measures to reduce costs in the hygiene business. It was revealed at the company's Capital Markets Day in Stockholm.

More trouble for TeliaSonera's business with the Uzbeck Company, Takilant as Takilant had never owned of a 3G license

Sunday, 04 November 2012
New revelations about TeliaSonera's business show how money was transferred to a Gibraltar Company, Takilant Ltd, an equivalent of over Skr2.2 billion, for which the company never had the 3G license that TeliaSonera claims to have bought.

Fall for VOLVO cars sales in the USA

Friday, 02 November 2012
Volvo Car Corporation has seen Volvo cars sales in the U.S. fell by 14.3 percent in October, compared with the same month in the 2011.

Finnish utility company Fortum sells hydropower

Wednesday, 31 October 2012
Finnish utility company, Fortum Oyj  said on Wednesday it will sell small-scale hydropower assets in Sweden for an undisclosed figure.

Saab in First Order for Head-Up Display System

Wednesday, 31 October 2012
Defence and security company, Saab has received the first order for its HUD-system following flight evaluations by the US Army Aviation end customer with the system installed on a Blackhawk helicopter.

Electrolux Announces Commitment to American Red Cross Disaster Fund for Storm Relief -contributes up to $200,000 to aid victims

Tuesday, 30 October 2012