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The Board of Directors of Husqvarna AB has decided to appoint Kai Wärn as President and CEO of Husqvarna Group effective as of July 1, 2013.
Swedish property company, JM is acquiring the Masugnen 7 property in Bromma, Stockholm from Fabege AB.
The transaction is worth Skr 243 million including deferred tax
Customer Company, Transcom's French subsidiary has been placed in liquidation proceedings by a French court in Versailles, according to reports in various Swedish media sources.
Holmen Paper intends to cease production on PM 51 at Braviken Paper Mill outside Norrköping, Sweden during the third quarter of 2013.
Alfa Laval has won an order to supply compact heat exchangers to a gas plant being built in Russia.
Alfa Laval announces that it has acquired the assets and technology for a gas combustion unit from the company Snecma (Safran).
The annual growth rate for Monetary Financial Institutions' (MFIs) lending to non-financial corporations in Sweden was 1.4 percent at the end of January.
The Group delivered a profit of USD 4.0bn (USD 3.4bn), which was slightly higher than the latest announced outlook of around USD 3.7bn expressed on 9 November 2012.
More jobs are disappearing from troubled Scandinavian airliner, SAS than has previously made known. Reports out now say that 200 jobs will go in addition to the previously axed 800 positions.
Energy giant Statoil which part ownes the refinery in Algeria, which was in a scene of terrorist activities, last week, has released the names of workers who are missing.
Autoliv is further expanding its safety system offering for passengers in the rear seats with the Bag-in-belt.
Alfa Laval wins SEK 130 million offshore gas order in South Korea
Tuesday, 15 January 2013
Heat transfer company, Alfa Laval says it has won an order from the South Korean shipyard Daewoo Shipbuilding & Marine Engineering (DSME) to supply Alfa Laval Aalborg heaters to a floating production, storage and offloading vessel (FPSO) which will be built in Korea.
Getinge announces preliminary results for 2012 and gave a profit warning
Friday, 11 January 2013
Demand for the Getinge Group’s products weakened during the final quarter of 2012, which had an adverse impact on orders received and invoicing volume. The company has been forced to give profit warning for full year 2012.
Greater chances that Telia Sonera could loose profits made in Uzbekistan if found guilty
Thursday, 28 March 2013
TeliaSonera may miss out on all the profits the company has made in Uzbekistan, according prosecutor, Gunnar Stetler, who is investigating the company's suspected corrupt practises in the country said.
Cancer patients referred to Hôpital Riviera’s (Vevey, Switzerland) new radiotherapy clinic will soon benefit from the center’s acquisition of Elekta’s advanced new linear accelerator, Versa HD™.
A Norwegian - based Rigging Company, Prospector Offshore Drilling has large a deposits of Laiki Bank in Cyprus and is on the way to loose a chuck of that money following the new EU rule of deposit.
A very serious bribery scandal has been uncovered between a Norwegian fertilizer company Yara and an African country, Libya in which lots of money exchanged hands under the table.
The shipping company Viking Line was today showing aspects of seriousness, holding meetings with their coach drivers to discuss the alleged discrimination against people with foreign names and colour. The question is why this show of solidarity? This is Sweden and discrimination is the way of life here.
The Swedish vaccine company, Viscogel is about to pick up equity from the American billionaire Bill Gates.
Banks create money. In real life no but when one, looks really well, it would be possible to say yeah. Swedish major banks reported a new profit record last year. How did they make all that money when the Swedish economic activities have been sluggish remain something that the Swedish FSA examined today.
One of the strongest and more difficult sectors on the Swedish high street is the consumer electronics retail sector. Several weak competitors have been obliterated and quashed out of the market - thinking of Expert and Onoff but is the bleeding over?
Axfood which conducts food retail and wholesale business in Sweden is investing part of the money earned from the Company's climate compensation in a solar-powered clean water project in Uganda.
Volvo Cars has revealed widespread cheating among its dealers in China. Dealers are said to have blown up the sales figures in order to get discounts as a reward for achieving certain goals, writes Reuters, citing a source in the Volvo.
Swedish military hardware maker, Saab group has signed a contract for the support of airborne surveillance somewhere, which remain secretive.
Fashion chain, H&M Group’s sales including for the first quarter of 2013 including VAT increased in local currencies by 6 percent during the first quarter. Sales in the quarter have been negatively affected by calendar effects by slightly more than 2 percentage points.
The Swedish military hardware maker, Saab is not giving up with its ambition to sell its fighter jets Gripen, to the Brazilian military.
Volvo Cars, owned by Chinese Geely Holding, has won approval in China to start producing vehicles in the country.
Between 400 and 600 workers in Ericsson's research centre in Lund are poised to lose their jobs when ST Ericsson is divided between the parents STMicroelectronics and Ericsson.
Business start-ups in Sweden fell last yeas as it is believed, the recession slowed business creation in the country last year.
H&M Group total sales in February 2013 increased by 5 percent including VAT in local currencies compared to the same month last year. But some observers feel that the H&M is beginning to struggle to compete on the high street.
Denmark's defence ministry has decided to resume its fighter jet procurement after cancelling it in mid-2010. This makes some people start thing aloud, could Denmark buy form Sweden?
Scandinavia's second largest airline Norwegian is now launching long-haul routes from Copenhagen to Florida in the United States.
Fear is beginning to grip Telia Sonera that the USA may entre into the investigation of its dealing with telecom companies in Uzbekistan. Business dealings there has ignited outcry in Sweden following undercover reports which suggested that bribery and corruption led the business strategy there.
Despite harsh criticism of increased regulatory hassles for companies, the Swedish government has put forward a proposal that will force employers to submit payroll information to the tax authority every month instead of every year.
The Finnish mobile phone giant, Nokia is determined to be on top of the telephony game. Despite all what the company has pass through, such as the lost of market share and the collapse of stock market prices, as well as competitors zooming pass by, Stephen Elop, its CEO is sure that they will make it to the top where they belong.
Today Atlas Copco said it inaugurated a new manufacturing facility in China, which is designed, to produce high-efficiency compressors and generators, meeting the growing demand for such industrial equipment throughout Asia.
Atlas Copco has agreed to acquire the business of U.S-based Rapid-Torc, which develops and markets hydraulic torque wrenches.
Scania and Siemens have entered into a partnership which involves the integration of Siemens technology to power vehicles with Scania's expertise in the electrification of powertrains in trucks and buses.
Scandinavian Airlines SAS, reports loss before tax of Skr823 million for the period November 2012 - January 2013. That compares with a loss of Skr2.686 million the same period a year earlier.
Swedish mining company, Sandvik has signed an agreement with Cubex Limited (CUBEX) to acquire its drilling solutions business and operations.
Nordea, Nordic region's biggest bank, is to further cuts approximately 800 more workers in two years according information release in its capital market day in London, according to Swedish media reports quoting Reuters news agency.
Talking about the light in the tunnel, just as CFO today felt that there economy is rebounding, giants such as Swedish energy giant, Vattenfall is to shed some 2 500 jobs.
Swedish automaker Volvo cars has been called by the its Chinese owner chairman, Li Shufu that it must innovate for the Chinese market to properly penetrate the market.
In the first parliamentary votes in the Swiss parliament today, there was some amount of support given by the laws makers to the Swiss government's plan to buy 22 Swedish jet fighters, Jas Gripen. But the deal also fell in tight ropes when the question of funding was brought in.
The company, Dafgård, which supply most cooked meat to Swedish retailers, has traced the supplier of its meat and determined that it improperly mixed horsemeat as beef.
The world's largest file-sharing site, Swedish organisation, The Pirate Bay says they are now operating with their servers in the closed dictatorship of North Korea. But a growing number of people believe it might be a scam.
Norwegian oil giant, Statoil will cut between 250 and 300. This is in addition to 750 jobs the company already shed as it move ahead with its process of getting rid of people from various sector of its operations.
The U.S. Republican Senator, James Inhofe is concerned about Swedish telecom company, Ericsson's business in Iran.
Truck maker, Volvo Group has made cutbacks in its research and development sector with 200 consultants in the first quarter, according to the company's CEO.
Boat manufacturer, Nord West & Najad in Henan, Orust in Sweden has filed for bankruptcy. The company is one of Scandinavia's largest boat builders and this indicates a continued worrying economic situation in the country and that market.
As attractive as China is to many Western companies seeking to benefit from its cheap labour, access to ease to reverse engineering of other brands, as well as operate in a less regulated environment compared to the western markets, many companies end up loosing lots of money on fraud. Fraud is common in China, and many foreign businesspersons have gone through such bitter experiences. Two Swedish companies turn out to be a recently identified.
Horse meat has been found in Ikeak Swedish meat balls, one of the Ikea flagship food items sold in its global supermarket places.
The idea than there could be the possibility of a tunnel to link Germany and Sweden is raising eyebrows in Swedes and construction giant Skanska feels that it is something that it could be interested in doing.
The Norwegian oil fund, the Norwegian government's wealth found in challenging hard into Swedish assets such that one of the darlings of the Swedish households and investors, Volvo AB is gradually being swept away by the Norwegians.
Swedish newspapers are no longer selling as before as Swedes become less interested in buying a newspaper. Therefore Swedish print newspaper editions have seen reduced circulations as more people choose to get their news from the Internet.
Media company, Modern Times Group, MTG AB (publ.) today announced that it has signed a multi-year agreement with BSkyB (‘Sky’) to distribute the Sky Sports News HD channel on MTG’s Viasat satellite platforms.
Blamed on foreign competition and the black gaming market, in terms of earnings by the gamming companies, turnover in the Swedish regulated gaming market fell last year.
The enthusiasm which the Swedish pharmacy entrepreneurs had three years ago when the sector was deregulated is not bearing the fruits which those investors thought the sector will provide.
200 new jobs are said to be created in Gothenburg, Sweden as Volvo's Chinese owner, Geely, is said to start a development centre in Gothenburg, which will employ 200 engineers from China and Sweden.
Weak demand especially in its lead market Europe has driven Swedish truck maker, Volvo Group to see it's truck deliveries plummeted to 10,791 in January, down 23 percent compared with the same month in 2012.
Otherwise known as payday loan companies, their proliferation in Sweden in the past years have just in a few years started creating problems to Swedish families. The Swedish authorities are not happy.
Volvo Cars Corporation has had a tough time recently, sales have fallen in many markets, especially in China. It's former CEO, Jacoby, fell sick and was sacked from his sick bed. But on Monday the company presented a list of its 2014 model in which several of them are old models that have been given a new facelift.
Statoil Monday reports that in partnership with Total S.A. and Det Norske Oljeselskap ASA is to award Daewoo Shipbuilding & Marine Engineering Co. Ltd, NOK6.1 billion contract to build the topsides for the Dagny platform, with Aker Solutions ASA as a major sub-contractor.
Military equipment manufacturer, Saab has signed an agreement with the Swedish Defence Materiel Administration (FMV), which provides technology for Sweden's security on the development of the next version of the Gripen fighter jets, the Gripen E.
Clothing company, Björn Borg is acquiring the operations in Finland from the current distributor, Fashion Case Oy, owned by Anne Immonen.
Swedish truck maker Volvo AB reported on Tuesday that Nova bus, its North American bus service, has received an order for 475 hybrid buses from Quebec, Canada. This becomes the single largest order for hybrid vehicles signed by Volvo Group to date.
Norwegian aluminum producer Norsk Hydro ASA said Tuesday that although lower prices weighed on its fourth-quarter earnings compared to the year-ago period, it swung to a net profit.
The price tag for Saab sales on June 12 last year
Wednesday, 06 February 2013
The price tag for the purchase of bankrupts Saab Automobile was Skr1.676 billion for the property and assets of the Saab automobile brand according to information from the bankruptcy trustees' accounts.
Novo Nordisk receive punitive tax of Dkr3.6 billion from the Danish tax authority (Dkr1= USD 0.18)
Tuesday, 05 February 2013
Danish pharmaceutical company, Novo Nordisk A/S, which reported a 23 percent growth in fourth-quarter net profit recently, is being hit by the Danish tax authorities with a punitive bill of unpaid taxes.
Engineering group Alfa Laval posted an adjusted EBITA results of Skr1.316 million for the fourth quarter of 2012, That is against Skr1.387million same period a year ago and the adjusted EBITA margin was 16.2 percent (17.0).
Sweden has positioned itself once more a new strong places with not only a better macro economic policies to attract investors but also a place where new technology are emerging and attracting investors.
Bus and truck maker, Scania – together with Russia-based commercial vehicle manufacturer GAZ Group – has received an order to deliver a total of 709 buses to the largest public transport operator in the Moscow region.
At an exclusive event scheduled March 1, 2013, Elekta will reveal a leap forward in radiation oncology and the care of individuals with cancer worldwide.
As investors go around seeking for where to invest their money within the European corporate places, the Nordic companies look to be attractive in becoming these investors with loaded pockets rather than their southern neighbours.
Business creation in Sweden has fallen as the weak economic climate means that business creation perception has weakened.
Industrial group, Atlas Copco reports a profit before tax of Skr4.476 million for the fourth quarter of 2012. That compares with profit of Skr4.436 million in the corresponding period of the 2011.
TeliaSonera's businesses in areas with high human rights abuse such as the ongoing investigation into corruption with businesses in Uzbekistan, which attracts billions to their coffers and which makes it possible to pay their shareholders big dividends, common workers in the company will pay a heavy price - retrenchment.
Ericsson back on growth territory despite low sales and fears of threats from Chinese Huawei Thursday, 31 January 2013
Swedish telecom giant, Ericsson reported an enhanced profitability and delivered what has been considered as growth. Though with declining sales, the company saw increase fourth quarter sales by 5 percent to Skr66.9 billion.
The other Swedish giant bank, SEB's report a slightly better than the market expected report for its end of year activities.
Bus and truck manufacturer Scania reported a profit before tax of Skr2.125 million for the fourth quarter of 2012. That compares with profit of Skr2.807 million same period 2011. Analysts had on average expected a profit before tax of Skr2.523 million, according to Reuters.
Swedbank report impressive financial performance
Wednesday, 30 January 2013
Swedish banking group, Swedbank made a huge profit in the last quarter of last year. Operating profit came to be Skr4 977 million compared to Skr1,753 million corresponding period of the 2011
Banking group Nordea reported an operating profit of €1.059 million, equivalent to approximately €9.1 million for the fourth quarter of 2012. That compares with profit of €1.029 billion for the corresponding period of the 2011.
Over the weekend, Volvo signed a deal with Chinese auto maker, Dongfeng to become the world leader in the production of heavy vehicles. Today the stock market welcomed the deal but behind all that, Dongfeng is a black listed company.
The fierce competition in the Swedish electronic commerce has claimed yet another victim as a dealer of a big name goes down.
Affiliate companies and subcontractors for the automotive industry in Sweden are throwing parties here and there celebrating and cheering for the deal Volvo entered with the Chinese company, Dongfeng Motor Group
In a deal worth something closer to Skr6 billion Volvo has bought the majority stake of the Chinese Dongfeng Motor Group's operations in the heavy and medium duty trucks division. The acquisition, which was announced in Beijing on Saturday, means that the Swedish truck giant becomes world leader in heavy trucks.
Ingvar Kamprad, the founder of Swedish furniture giant Ikea, is surprise to learn that the company's CEO, Mikael Ohlsson is promising a massive investment expansion which he was not aware of.
Swedish furniture giant Ikea, is reported to be expecting to create up to 75,000 jobs within the next few years, including 1000 in Sweden.
New forms of payment for a bank account is spreading across the Danish banking sectors and it is causing stresses among customers. After Danske Bank imposed a charge or a fee for owning an account with them, Jyske Bank has followed the approach too.
Sweden continues to work extremely hard to weed away the vices of corruption and bribery. This is why a Swedish court in Stockholm decided to proceed with a trial related to TeliaSonera and its business in Uzbekistan despite appeals that Sweden did not have the jurisdiction for such trial.
Sweden's heavy industrial goods maker, Volvo and the Chinese automotive company, Dongfeng Motor are about to launch a joint venture in the medium and heavy duty trucks, division as Volvo seeks to penetrate more into the vast Chinese market.
Banking in Denmark is soon becoming a costly business for bank account owners as one of the country's biggest banks, Danske Bank has made it clear that it will start charging customers for the privileged of having an account with them.
Norway's Wealth Fund, also known as the Oilfund has emerged as the second largest owner of Volvo AB, shifting closer to investment company, Industrivärden, which is still the biggest shareholder of the company.
The Swedish Finance Minister, Anders Borg is considering tightening roles on the Swedish tax system that has traditionally favoured big companies such as Facebook and Google, which have in most cases "avoided paying their fair share in taxes".
In 2012 Swedbank decided to gradually remove Visa cards from its customers and replacing them with MasterCard. The decision is made on a commercial basis and the cards will be replaced, as they are renewed.
The Norwegian Financial Supervisory Authority is examining whether there has been manipulation of the local interbank rate after complaints from a "foreign bank."
The Danish bank Amagerbanken af is being referred to the police by the Danish Financial services authority, Finanstilsynet, for possible financial crimes that led to the fall of the bank. This is being seen as one of the biggest legal showdown in the wake of the financial crisis that hit the bank in 2011.
Clothing chain H & M's total sales rose 8 percent in December, compared with the same month last year. Same-store sales decreased by 2 percent.
Supermarket chain, ICA Norway has entered into a strategic cooperation agreement with NorgesGruppen and the effect of that it will results in reductions of approximately 350 employees and is expected to cost around Nkr150 million, which will be recognized in the first quarter of this year.
Finnish Energy Company, Fortum has been hit by back tax request from the Swedish tax authorities, something which the company is appealing.
The end of 2012 was even weaker than SKF, the Swedish ball bearings giant expected and the beginning of 2013 does not look better. The company is thus tightening its cost-cutting measures.
Swedish officials are grumbling that it is not known how much money American social media site, Facebook is making in Sweden. But it is held that the company comfortably paid some Skr770,000 as taxes in Sweden 2012.
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Husqvarna appoints Kai Wärn as President and CEO of the Group
Wednesday, 27 March 2013The Board of Directors of Husqvarna AB has decided to appoint Kai Wärn as President and CEO of Husqvarna Group effective as of July 1, 2013.
Property Company, JM acquiring property in Bromma, Stockholm
Wednesday, 27 March 2013Swedish property company, JM is acquiring the Masugnen 7 property in Bromma, Stockholm from Fabege AB.
The transaction is worth Skr 243 million including deferred tax
Kinnevik company, Transcom goes into bankruptcy in France
Friday, 22 March 2013Customer Company, Transcom's French subsidiary has been placed in liquidation proceedings by a French court in Versailles, according to reports in various Swedish media sources.
Holmen forced to close Braviken Paper Mill
Tuesday, 19 March 2013Holmen Paper intends to cease production on PM 51 at Braviken Paper Mill outside Norrköping, Sweden during the third quarter of 2013.
Alfa Laval wins SEK 60 million natural gas order in Russia
Wednesday, 13 March 2013Alfa Laval has won an order to supply compact heat exchangers to a gas plant being built in Russia.
Alfa Laval continues to expand its product portfolio – acquires safety equipment for the marine industry
Thursday, 07 March 2013Alfa Laval announces that it has acquired the assets and technology for a gas combustion unit from the company Snecma (Safran).
Atlas Copco buys Chinese rock drilling tools business
Stockholm, Sweden, March 5, 2013: Atlas Copco (China) Investment Co,. Ltd. has acquired 75% of Shandong Rock Drilling Tools Co., Ltd., a leading Chinese supplier of rock drilling tools. The acquisition strengthens Atlas Copco’s position in the local market in mining and construction consumables.Change of the distribution of shares in Swedbank due to conversion of preference shares to ordinary shares
Lending to Swedish non-financial organisations
Wednesday, 27 February 2013The annual growth rate for Monetary Financial Institutions' (MFIs) lending to non-financial corporations in Sweden was 1.4 percent at the end of January.
Danish shipping giant Maersk reported impressive earnings
Friday, 22 February 2013The Group delivered a profit of USD 4.0bn (USD 3.4bn), which was slightly higher than the latest announced outlook of around USD 3.7bn expressed on 9 November 2012.
H & M reports lower than expected profits
Wednesday, 30 January 2013
Clothing company H & M became less profitable in the fourth quarter of last year. The important gross margin was in line with expectations.
200 more job to go from SAS than was announced during restructuring
Sunday, 27 January 2013More jobs are disappearing from troubled Scandinavian airliner, SAS than has previously made known. Reports out now say that 200 jobs will go in addition to the previously axed 800 positions.
Staoil releases names of the 5 missing employees in Algeria
Monday, 21 January 2013Energy giant Statoil which part ownes the refinery in Algeria, which was in a scene of terrorist activities, last week, has released the names of workers who are missing.
Autoliv Supplies New Seatbelt technology to Mercedes’ Next S-class
Wednesday, 16 January 2013Autoliv is further expanding its safety system offering for passengers in the rear seats with the Bag-in-belt.
Alfa Laval wins SEK 130 million offshore gas order in South Korea
Tuesday, 15 January 2013
Heat transfer company, Alfa Laval says it has won an order from the South Korean shipyard Daewoo Shipbuilding & Marine Engineering (DSME) to supply Alfa Laval Aalborg heaters to a floating production, storage and offloading vessel (FPSO) which will be built in Korea.
Getinge announces preliminary results for 2012 and gave a profit warning
Friday, 11 January 2013
Demand for the Getinge Group’s products weakened during the final quarter of 2012, which had an adverse impact on orders received and invoicing volume. The company has been forced to give profit warning for full year 2012.
Greater chances that Telia Sonera could loose profits made in Uzbekistan if found guilty
Thursday, 28 March 2013
TeliaSonera may miss out on all the profits the company has made in Uzbekistan, according prosecutor, Gunnar Stetler, who is investigating the company's suspected corrupt practises in the country said.
Elekta’s Advanced Versa HD System to Begin Treating Cancer Patients at New Swiss Radiotherapy Clinic
Wednesday, 27 March 2013Cancer patients referred to Hôpital Riviera’s (Vevey, Switzerland) new radiotherapy clinic will soon benefit from the center’s acquisition of Elekta’s advanced new linear accelerator, Versa HD™.
A Norwegian Rigging Company, Prospector Offshore Drilling Could lose Nkr50 million in the Cyprus bank
Tuesday, 26 March 2013A Norwegian - based Rigging Company, Prospector Offshore Drilling has large a deposits of Laiki Bank in Cyprus and is on the way to loose a chuck of that money following the new EU rule of deposit.
A top Norwegian Fertilizer company, Yara embroiled in corruption scandal
Tuesday, 26 March 2013A very serious bribery scandal has been uncovered between a Norwegian fertilizer company Yara and an African country, Libya in which lots of money exchanged hands under the table.
Viking Line, in crisis meeting on alleged discrimination, why worried - this is Sweden and this is how we roll
Monday, 25 March 2013
The shipping company Viking Line was today showing aspects of seriousness, holding meetings with their coach drivers to discuss the alleged discrimination against people with foreign names and colour. The question is why this show of solidarity? This is Sweden and discrimination is the way of life here.
Billionaire philanthropist Bill Gates interested in Swedish pharmaceutical company
Monday, 25 March 2013
The Swedish vaccine company, Viscogel is about to pick up equity from the American billionaire Bill Gates.
How the Swedish banks break record last year in profitability
Monday, 25 March 2013Banks create money. In real life no but when one, looks really well, it would be possible to say yeah. Swedish major banks reported a new profit record last year. How did they make all that money when the Swedish economic activities have been sluggish remain something that the Swedish FSA examined today.
Continuous pressure in the Swedish electronic retail sectors - hard to make money there as Siba reports more losses
Friday, 22 March 2013One of the strongest and more difficult sectors on the Swedish high street is the consumer electronics retail sector. Several weak competitors have been obliterated and quashed out of the market - thinking of Expert and Onoff but is the bleeding over?
Axfood contributing to solar clean water project in Uganda
Friday, 22 March 2013Axfood which conducts food retail and wholesale business in Sweden is investing part of the money earned from the Company's climate compensation in a solar-powered clean water project in Uganda.
Chinese dealers of Volvo cars accused of cheating as they deceive the company about sales
Friday, 22 March 2013Volvo Cars has revealed widespread cheating among its dealers in China. Dealers are said to have blown up the sales figures in order to get discounts as a reward for achieving certain goals, writes Reuters, citing a source in the Volvo.
Saab awarded a contract for an airborne surveillance system but the customer must be kept secret
Thursday, 21 March 2013Swedish military hardware maker, Saab group has signed a contract for the support of airborne surveillance somewhere, which remain secretive.
More pressure on Swedish fashion company, H&M as sales continues to struggle
Thursday, 21 March 2013Fashion chain, H&M Group’s sales including for the first quarter of 2013 including VAT increased in local currencies by 6 percent during the first quarter. Sales in the quarter have been negatively affected by calendar effects by slightly more than 2 percentage points.
Saab would not give up on its ambitions Brazilian sales despite doubts and competition
Tuesday, 19 March 2013The Swedish military hardware maker, Saab is not giving up with its ambition to sell its fighter jets Gripen, to the Brazilian military.
Volvo Cars corp., approved to start production in China
Tuesday, 19 March 2013Volvo Cars, owned by Chinese Geely Holding, has won approval in China to start producing vehicles in the country.
Job looses in Lund, Sweden on the wire as Ericsson and STMicroelectronics agree on strategic way forward for ST-Ericsson
Monday, 18 March 2013Between 400 and 600 workers in Ericsson's research centre in Lund are poised to lose their jobs when ST Ericsson is divided between the parents STMicroelectronics and Ericsson.
Low business start-up in Sweden in 2012 as the economy put stresses on entrepreneurs
Monday, 18 March 2013Business start-ups in Sweden fell last yeas as it is believed, the recession slowed business creation in the country last year.
H&M Group report increased sales but report suggest the clothing giant is struggling
Friday, 15 March 2013H&M Group total sales in February 2013 increased by 5 percent including VAT in local currencies compared to the same month last year. But some observers feel that the H&M is beginning to struggle to compete on the high street.
Is there any chance Denmark can consider buying Saab Gripen?
Friday, 15 March 2013Denmark's defence ministry has decided to resume its fighter jet procurement after cancelling it in mid-2010. This makes some people start thing aloud, could Denmark buy form Sweden?
Airliner, Norwegian will fly from Copenhagen to Florida
Thursday, 14 March 2013Scandinavia's second largest airline Norwegian is now launching long-haul routes from Copenhagen to Florida in the United States.
The US has entered into investigation of TeliaSonera. Panic has griped the company
Thursday, 14 March 2013Fear is beginning to grip Telia Sonera that the USA may entre into the investigation of its dealing with telecom companies in Uzbekistan. Business dealings there has ignited outcry in Sweden following undercover reports which suggested that bribery and corruption led the business strategy there.
New Swedish government proposal for monthly worker's pay report split the government
Wednesday, 13 March 2013Despite harsh criticism of increased regulatory hassles for companies, the Swedish government has put forward a proposal that will force employers to submit payroll information to the tax authority every month instead of every year.
No Matter what they say, Nokia is determine to be on top
Tuesday, 12 March 2013The Finnish mobile phone giant, Nokia is determined to be on top of the telephony game. Despite all what the company has pass through, such as the lost of market share and the collapse of stock market prices, as well as competitors zooming pass by, Stephen Elop, its CEO is sure that they will make it to the top where they belong.
Atlas Copco opens new production facility in China
Tuesday, 12 March 2013Today Atlas Copco said it inaugurated a new manufacturing facility in China, which is designed, to produce high-efficiency compressors and generators, meeting the growing demand for such industrial equipment throughout Asia.
Atlas Copco to acquire US hydraulic torque wrench business
Tuesday, 12 March 2013Atlas Copco has agreed to acquire the business of U.S-based Rapid-Torc, which develops and markets hydraulic torque wrenches.
Scania and Siemens to develop electrically powered vehicles
Monday, 11 March 2013Scania and Siemens have entered into a partnership which involves the integration of Siemens technology to power vehicles with Scania's expertise in the electrification of powertrains in trucks and buses.
Losses continues for SAS but the looses reduced as a results of intense austerity
Friday, 08 March 2013Scandinavian Airlines SAS, reports loss before tax of Skr823 million for the period November 2012 - January 2013. That compares with a loss of Skr2.686 million the same period a year earlier.
Swedish Mining Company, Sandvik to acquire Canadian drilling solutions provider
Thursday, 07 March 2013Swedish mining company, Sandvik has signed an agreement with Cubex Limited (CUBEX) to acquire its drilling solutions business and operations.
Nordic region biggest bank, Nordea to further cuts more jobs
Wednesday, 06 March 2013Nordea, Nordic region's biggest bank, is to further cuts approximately 800 more workers in two years according information release in its capital market day in London, according to Swedish media reports quoting Reuters news agency.
Energy Company, Vattenfall to shed 2500 job as it works to adapt to changing market
Wednesday, 06 March 2013Talking about the light in the tunnel, just as CFO today felt that there economy is rebounding, giants such as Swedish energy giant, Vattenfall is to shed some 2 500 jobs.
Geely calls on Volvo to adapt to the needs of the Chinese market
Wednesday, 06 March 2013Swedish automaker Volvo cars has been called by the its Chinese owner chairman, Li Shufu that it must innovate for the Chinese market to properly penetrate the market.
Swedish Saab shifting gradually towards selling the jet fighter Gripen to Switzerland
Tuesday, 05 March 2013In the first parliamentary votes in the Swiss parliament today, there was some amount of support given by the laws makers to the Swiss government's plan to buy 22 Swedish jet fighters, Jas Gripen. But the deal also fell in tight ropes when the question of funding was brought in.
Horse meat in Sweden: Dafgård tracks the source of horse meat supplies
Tuesday, 05 March 2013The company, Dafgård, which supply most cooked meat to Swedish retailers, has traced the supplier of its meat and determined that it improperly mixed horsemeat as beef.
Pirate Bay says they are now operating from North Korea
Tuesday, 05 March 2013The world's largest file-sharing site, Swedish organisation, The Pirate Bay says they are now operating with their servers in the closed dictatorship of North Korea. But a growing number of people believe it might be a scam.
Statoil to cut 1000 jobs - Norwegian news reports
Monday, 04 March 2013Norwegian oil giant, Statoil will cut between 250 and 300. This is in addition to 750 jobs the company already shed as it move ahead with its process of getting rid of people from various sector of its operations.
America worried about Ericsson's business with Iran
Monday, 04 March 2013The U.S. Republican Senator, James Inhofe is concerned about Swedish telecom company, Ericsson's business in Iran.
Volvo AB eliminated research and development positions in its quest to increase savings
Friday, 01 March 2013Truck maker, Volvo Group has made cutbacks in its research and development sector with 200 consultants in the first quarter, according to the company's CEO.
Newly created Yacht charter company file for bankruptcy - 134 jobs to go
Wednesday, 27 February 2013Boat manufacturer, Nord West & Najad in Henan, Orust in Sweden has filed for bankruptcy. The company is one of Scandinavia's largest boat builders and this indicates a continued worrying economic situation in the country and that market.
Swedish companies fall in the wrath of fraud in China - a common way of doing business there
Wednesday, 27 February 2013As attractive as China is to many Western companies seeking to benefit from its cheap labour, access to ease to reverse engineering of other brands, as well as operate in a less regulated environment compared to the western markets, many companies end up loosing lots of money on fraud. Fraud is common in China, and many foreign businesspersons have gone through such bitter experiences. Two Swedish companies turn out to be a recently identified.
Horsemeat in IKEA's - Swedish meatballs thus Sweden also tied to horse means scandal and conspiracy
Monday, 25 February 2013Horse meat has been found in Ikeak Swedish meat balls, one of the Ikea flagship food items sold in its global supermarket places.
Idea of a tunnel between Sweden and Germany attracts Skanska
Monday, 25 February 2013The idea than there could be the possibility of a tunnel to link Germany and Sweden is raising eyebrows in Swedes and construction giant Skanska feels that it is something that it could be interested in doing.
Swedish flagship heavy duty vehicle maker, VOLVO shifting ownership toward Norwegians.
Saturday, 23 February 2013The Norwegian oil fund, the Norwegian government's wealth found in challenging hard into Swedish assets such that one of the darlings of the Swedish households and investors, Volvo AB is gradually being swept away by the Norwegians.
Persistent fall in Swedish newspapers circulation
22 February 2013Swedish newspapers are no longer selling as before as Swedes become less interested in buying a newspaper. Therefore Swedish print newspaper editions have seen reduced circulations as more people choose to get their news from the Internet.
MTG secures exclusive rights to the Sky Sports News channel and content in Nordic & Baltic countries
Thursday, 21 February 2013Media company, Modern Times Group, MTG AB (publ.) today announced that it has signed a multi-year agreement with BSkyB (‘Sky’) to distribute the Sky Sports News HD channel on MTG’s Viasat satellite platforms.
Swedish gaming market begins to fall blamed on foreign competition and the black gaming market
Wednesday, 20 February 2013Blamed on foreign competition and the black gaming market, in terms of earnings by the gamming companies, turnover in the Swedish regulated gaming market fell last year.
Strong competition continues to sucked out smaller pharmacies out of the tough Swedish market
Wednesday, 20 February 2013The enthusiasm which the Swedish pharmacy entrepreneurs had three years ago when the sector was deregulated is not bearing the fruits which those investors thought the sector will provide.
Volvo and Geely to start new development company
Wednesday, 20 February 2013200 new jobs are said to be created in Gothenburg, Sweden as Volvo's Chinese owner, Geely, is said to start a development centre in Gothenburg, which will employ 200 engineers from China and Sweden.
Persistent fall for Volvo group as truck deliveries plummeted
Wednesday, 20 February 2013Weak demand especially in its lead market Europe has driven Swedish truck maker, Volvo Group to see it's truck deliveries plummeted to 10,791 in January, down 23 percent compared with the same month in 2012.
Many Swedish SMS loan companies warned
Tuesday, 19 February 2013Otherwise known as payday loan companies, their proliferation in Sweden in the past years have just in a few years started creating problems to Swedish families. The Swedish authorities are not happy.
Volvocar Corporation presents new models? Or a review of old cars? or face lifts...?
Monday, 18 February 2013Volvo Cars Corporation has had a tough time recently, sales have fallen in many markets, especially in China. It's former CEO, Jacoby, fell sick and was sacked from his sick bed. But on Monday the company presented a list of its 2014 model in which several of them are old models that have been given a new facelift.
Statoil and its partners award NOK 6.1 billion in contract for the Dagny platform.
Monday, 18 February 2013
Statoil Monday reports that in partnership with Total S.A. and Det Norske Oljeselskap ASA is to award Daewoo Shipbuilding & Marine Engineering Co. Ltd, NOK6.1 billion contract to build the topsides for the Dagny platform, with Aker Solutions ASA as a major sub-contractor.
Swedish government and Saab sign new agreement on new generation Gripen development
Friday, 15 February 2013Military equipment manufacturer, Saab has signed an agreement with the Swedish Defence Materiel Administration (FMV), which provides technology for Sweden's security on the development of the next version of the Gripen fighter jets, the Gripen E.
Björn Borg acquires operations in Finland
Wednesday, 13 February 2013Clothing company, Björn Borg is acquiring the operations in Finland from the current distributor, Fashion Case Oy, owned by Anne Immonen.
Volvo Buses receives order for 475 hybrid buses from Quebec
Tuesday, 12 February 2013Swedish truck maker Volvo AB reported on Tuesday that Nova bus, its North American bus service, has received an order for 475 hybrid buses from Quebec, Canada. This becomes the single largest order for hybrid vehicles signed by Volvo Group to date.
Global supplier of aluminium and aluminium products and Major energy producer Norsk Hydo reports profits.
Tuesday, 12 February 2013Norwegian aluminum producer Norsk Hydro ASA said Tuesday that although lower prices weighed on its fourth-quarter earnings compared to the year-ago period, it swung to a net profit.
The price tag for Saab sales on June 12 last year
Wednesday, 06 February 2013
The price tag for the purchase of bankrupts Saab Automobile was Skr1.676 billion for the property and assets of the Saab automobile brand according to information from the bankruptcy trustees' accounts.
Novo Nordisk receive punitive tax of Dkr3.6 billion from the Danish tax authority (Dkr1= USD 0.18)
Tuesday, 05 February 2013
Danish pharmaceutical company, Novo Nordisk A/S, which reported a 23 percent growth in fourth-quarter net profit recently, is being hit by the Danish tax authorities with a punitive bill of unpaid taxes.
Alfa lava reports a strong period characterised by increased order
Tuesday, 05 February 2013Engineering group Alfa Laval posted an adjusted EBITA results of Skr1.316 million for the fourth quarter of 2012, That is against Skr1.387million same period a year ago and the adjusted EBITA margin was 16.2 percent (17.0).
Sweden coming back as the leading tech start-up money spinner in Europe once more
Monday, 04 February 2013Sweden has positioned itself once more a new strong places with not only a better macro economic policies to attract investors but also a place where new technology are emerging and attracting investors.
Scania captures one of its largest bus orders till date from Russia
Monday, 04 February 2013Bus and truck maker, Scania – together with Russia-based commercial vehicle manufacturer GAZ Group – has received an order to deliver a total of 709 buses to the largest public transport operator in the Moscow region.
Elekta’s New Radiation Oncology Technology to Shape the Future of Cancer Care Worldwide unveiling of radiation delivery technology will be held March 1 in Atlanta, USA
Monday, 04 February 2013At an exclusive event scheduled March 1, 2013, Elekta will reveal a leap forward in radiation oncology and the care of individuals with cancer worldwide.
Scandinavian companies attract most foreign investment as greater Europe persistently stagnates
Friday, 01 February 2013As investors go around seeking for where to invest their money within the European corporate places, the Nordic companies look to be attractive in becoming these investors with loaded pockets rather than their southern neighbours.
Decline in Swedish business formation as the weak economy kill sentiments
Friday, 01 February 2013Business creation in Sweden has fallen as the weak economic climate means that business creation perception has weakened.
Atlas Copco results reported to be worse than expected
Thursday, 31 January 2013Industrial group, Atlas Copco reports a profit before tax of Skr4.476 million for the fourth quarter of 2012. That compares with profit of Skr4.436 million in the corresponding period of the 2011.
As TeliaSonera enjoys huge profits from Scandal, the owners will feast while employees will be given matching order
Thursday, 31 January 2013TeliaSonera's businesses in areas with high human rights abuse such as the ongoing investigation into corruption with businesses in Uzbekistan, which attracts billions to their coffers and which makes it possible to pay their shareholders big dividends, common workers in the company will pay a heavy price - retrenchment.
Ericsson back on growth territory despite low sales and fears of threats from Chinese Huawei Thursday, 31 January 2013
Swedish telecom giant, Ericsson reported an enhanced profitability and delivered what has been considered as growth. Though with declining sales, the company saw increase fourth quarter sales by 5 percent to Skr66.9 billion.
Swedish banking group SEB reports end on year report promising huge dividends to shareholders
Thursday, 31 January 2013The other Swedish giant bank, SEB's report a slightly better than the market expected report for its end of year activities.
Scania earnings below expectations as the economic climate slows expansion
Wednesday, 30 January 2013Bus and truck manufacturer Scania reported a profit before tax of Skr2.125 million for the fourth quarter of 2012. That compares with profit of Skr2.807 million same period 2011. Analysts had on average expected a profit before tax of Skr2.523 million, according to Reuters.
Swedbank report impressive financial performance
Wednesday, 30 January 2013
Swedish banking group, Swedbank made a huge profit in the last quarter of last year. Operating profit came to be Skr4 977 million compared to Skr1,753 million corresponding period of the 2011
Nordea sees increase in profits
Wednesday, 30 January 2013Banking group Nordea reported an operating profit of €1.059 million, equivalent to approximately €9.1 million for the fourth quarter of 2012. That compares with profit of €1.029 billion for the corresponding period of the 2011.
Volvo choose to make a deal wit blacklisted Chinese automaker, Dongfeng
Monday, 28 January 2013Over the weekend, Volvo signed a deal with Chinese auto maker, Dongfeng to become the world leader in the production of heavy vehicles. Today the stock market welcomed the deal but behind all that, Dongfeng is a black listed company.
Sony Centre in Sweden goes bankrupt and competition in the Swedish electronic sector claims another victim
Monday, 28 January 2013The fierce competition in the Swedish electronic commerce has claimed yet another victim as a dealer of a big name goes down.
Volvo AB' suppliers and sub-contractors celebrate joint venture deal with Chinese company Dongfeng Motor Group
Sunday, 27 January 2013Affiliate companies and subcontractors for the automotive industry in Sweden are throwing parties here and there celebrating and cheering for the deal Volvo entered with the Chinese company, Dongfeng Motor Group
Volvo to be the largest heavy truck maker in the world after joint venture agreement with Chinese Dongfeng
Sunday, 27 January 2013In a deal worth something closer to Skr6 billion Volvo has bought the majority stake of the Chinese Dongfeng Motor Group's operations in the heavy and medium duty trucks division. The acquisition, which was announced in Beijing on Saturday, means that the Swedish truck giant becomes world leader in heavy trucks.
Disorder and disagreements at Ikea as Kamprad surprised by CEO's expansion plan
Thursday, 24 January 2013Ingvar Kamprad, the founder of Swedish furniture giant Ikea, is surprise to learn that the company's CEO, Mikael Ohlsson is promising a massive investment expansion which he was not aware of.
Ikea plans to create 75000 jobs
Tuesday, 22 January 2013Swedish furniture giant Ikea, is reported to be expecting to create up to 75,000 jobs within the next few years, including 1000 in Sweden.
Another Danish Bank, Jyske bank joins Danke bank to charge for the pleasure of having a bank account with them
Tuesday, 22 January 2013New forms of payment for a bank account is spreading across the Danish banking sectors and it is causing stresses among customers. After Danske Bank imposed a charge or a fee for owning an account with them, Jyske Bank has followed the approach too.
A court in Stockholm Sweden, freezes TeliaSonera's assets
Tuesday, 22 January 2013Sweden continues to work extremely hard to weed away the vices of corruption and bribery. This is why a Swedish court in Stockholm decided to proceed with a trial related to TeliaSonera and its business in Uzbekistan despite appeals that Sweden did not have the jurisdiction for such trial.
Volvo plans joint venture with Chinese heavy goods maker
Tuesday, 22 January 2013Sweden's heavy industrial goods maker, Volvo and the Chinese automotive company, Dongfeng Motor are about to launch a joint venture in the medium and heavy duty trucks, division as Volvo seeks to penetrate more into the vast Chinese market.
Moves in Denmark to institute Banking fees for account holders - Swedish banks branch could happily copy such moves
Monday, 21 January 2013Banking in Denmark is soon becoming a costly business for bank account owners as one of the country's biggest banks, Danske Bank has made it clear that it will start charging customers for the privileged of having an account with them.
Norway continues to talk money on Sweden - their Oil fund becomes the second largest owner of Swedish Volvo AB
Monday, 21 January 2013Norway's Wealth Fund, also known as the Oilfund has emerged as the second largest owner of Volvo AB, shifting closer to investment company, Industrivärden, which is still the biggest shareholder of the company.
Looks like Google paid low taxes in Sweden - Skr944 000 and there is outcry on big companies here
Sunday, 20 January 2013The Swedish Finance Minister, Anders Borg is considering tightening roles on the Swedish tax system that has traditionally favoured big companies such as Facebook and Google, which have in most cases "avoided paying their fair share in taxes".
Swedbank is phasing out Visa credit card as competition leads it to better deal elsewhere.
Sunday, 20 January 2013In 2012 Swedbank decided to gradually remove Visa cards from its customers and replacing them with MasterCard. The decision is made on a commercial basis and the cards will be replaced, as they are renewed.
Norwegian authorities investigate possible NIBOR crime
Thursday, 17 January 2013The Norwegian Financial Supervisory Authority is examining whether there has been manipulation of the local interbank rate after complaints from a "foreign bank."
Bankrupt Amagerbanken's management to be investigated for crimes by the Danish police
Wednesday, 16 January 2013The Danish bank Amagerbanken af is being referred to the police by the Danish Financial services authority, Finanstilsynet, for possible financial crimes that led to the fall of the bank. This is being seen as one of the biggest legal showdown in the wake of the financial crisis that hit the bank in 2011.
H & M post higher than expected sales for December 2012
Tuesday, 15 January 2013Clothing chain H & M's total sales rose 8 percent in December, compared with the same month last year. Same-store sales decreased by 2 percent.
Savings in Supermarket chain, ICA means 350 jobs to go as the jobs market gets tighter
Monday, 14 January 2013Supermarket chain, ICA Norway has entered into a strategic cooperation agreement with NorgesGruppen and the effect of that it will results in reductions of approximately 350 employees and is expected to cost around Nkr150 million, which will be recognized in the first quarter of this year.
Finnish Energy Company, Fortum appealing Swedish tax authority's tax bill
Monday, 14 January 2013Finnish Energy Company, Fortum has been hit by back tax request from the Swedish tax authorities, something which the company is appealing.
SKF struggling with weak demand and will cuts work force by 2500
Monday, 14 January 2013The end of 2012 was even weaker than SKF, the Swedish ball bearings giant expected and the beginning of 2013 does not look better. The company is thus tightening its cost-cutting measures.
Facebook is paid an estimated Skr770,000 in taxes in Sweden though it is grumbled that the company earned more that it paid for as taxes
Sunday, 13 January 2013Swedish officials are grumbling that it is not known how much money American social media site, Facebook is making in Sweden. But it is held that the company comfortably paid some Skr770,000 as taxes in Sweden 2012.
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