Mia's Feed
Sep 18, 2014

Kinnevik CEO sees little risk of tech bubble ahead of Zalando, Rocket floats

STOCKHOLM, Sept 18 (Reuters) – Painful memories of the
Internet bubble bursting more than a decade ago are likely to
cut the risk that tech stocks get too frothy, as newcomers
Zalando and Rocket Internet prepare to make market debuts, the
head of Sweden’s Kinnevik said.

The company is the biggest investor in German online fashion
retailer Zalando IPO-ZLDO.F and has an 18.5 percent stake in
venture capital company Rocket Internet, which has ambitions to
be the largest Internet business outside the United States and
China.

Sep 18, 2014

Kinnevik CEO says lessons from first Internet bubble to curb tech froth

STOCKHOLM, Sept 18 (Reuters) – Painful memories of the
Internet bubble more than a decade ago are likely to cut the
risk that tech stocks get too frothy as online newcomers Zalando
and Rocket Internet prepare to make market debuts, the CEO of
Sweden’s Kinnevik said.

The Swedish company is the biggest investor in German online
fashion retailer Zalando and has an 18.5 percent stake in
venture capital company Rocket Internet, which has ambitions to
be the largest Internet business outside the United States and
China.

Sep 15, 2014

Microsoft to buy Minecraft maker Mojang for $2.5 billion

STOCKHOLM/SEATTLE (Reuters) – Microsoft Corp (MSFT.O: Quote, Profile, Research, Stock Buzz) has agreed to acquire the Stockholm-based developer of the wildly popular Minecraft video game for $2.5 billion, as it tries to lure a new and mostly young audience into its mobile world.

Minecraft – a construction game in which players can build nearly anything imaginable, block by block, in a digital, Lego-like world – has spread like wildfire since its full release by developer Mojang in 2011.

Sep 9, 2014

IKEA sees global consumer rebound as sales growth almost doubles

STOCKHOLM (Reuters) – IKEA Group, the world’s biggest furniture retailer, is seeing evidence that consumer spending is picking up, even in recession-hit southern Europe, as the pace of growth in annual sales nearly doubled compared with the previous year.

The Swedish company, seen as a reliable gauge of global consumption because it has more than 300 stores in 26 countries, said on Tuesday some of the strongest growth was in China, while North America continued to perform well.

Aug 24, 2014

Mum’s the word on soaring Swedish household debt as poll nears

STOCKHOLM, Aug 24 (Reuters) – Johan and Alejandra are the
kind of Swedes the IMF has been warning about – piling up debt
to keep up with an ever-rising property market and fund a
lifestyle of travel, maids and nights out.

The couple plan to buy a flat in Stockholm for 5 to 6
million Swedish crowns ($724,000 to $869,000), initially with an
interest-only bank loan, among other spending plans.

Jul 18, 2014

Online retailer Zalando makes first ever profit in second quarter

STOCKHOLM/FRANKFURT, July 18 (Reuters) – Europe’s biggest
online fashion retailer Zalando said on Friday it had its first
ever profitable quarter, giving the company greater momentum for
a possible stock market debut this year.

Zalando, whose rivals include Britain’s ASOS Plc
and traditional retailers which are expanding online, said
progress towards break-even in the first quarter had
accelerated, leading to a profitable second quarter and a first
half-year group (EBIT) margin around break-even.

Jul 17, 2014

Nordea sees some profitability strains after strong second quarter

STOCKHOLM, July 17 (Reuters) – Nordea, the Nordic
region’s biggest bank, on Thursday pointed to low economic
growth, tougher regulation and falling interest rates in Sweden
as potential challenges to its long-term profitability target.

The bank, which reported a 7 percent increase in second
quarter profit on Thursday, is cutting costs to adjust to this
climate, but is sticking to a goal to raise its dividend payout
ratio for 2014 and 2015. It is also keeping a long-term aim of
achieving a 15 percent return on equity – a measure of
profitability.

Jun 22, 2014

Insight – Stenbeck transforms Swedish family firm into major online investor

STOCKHOLM (Reuters) – Swedish-American heiress Cristina Stenbeck’s bet on the red-hot e-commerce business has caught the eye of investors, although doubters question the future of her Kinnevik group in a sector where new players emerge almost every day.

Shares in Kinnevik (KINVb.ST: Quote, Profile, Research), which Stenbeck inherited at 24 on the sudden death of her father Jan, have more than doubled in half a dozen years and outstripped some of Sweden’s other renowned family investment firms under her leadership.

Jun 22, 2014

Stenbeck transforms Swedish family firm into major online investor

STOCKHOLM (Reuters) – Swedish-American heiress Cristina Stenbeck’s bet on the red-hot e-commerce business has caught the eye of investors, although doubters question the future of her Kinnevik group in a sector where new players emerge almost every day.

Shares in Kinnevik, which Stenbeck inherited at 24 on the sudden death of her father Jan, have more than doubled in half a dozen years and outstripped some of Sweden’s other renowned family investment firms under her leadership.

Jun 22, 2014

Kinnevik heiress defies sceptics with tech savvy, fashion sense

LONDON, June 22 (Reuters) – Cristina Stenbeck sounds more
like a Silicon Valley entrepreneur than the head of one of
Sweden’s most venerable family-controlled investment groups,
Kinnevik.

She speaks of hunting for technological “disrupters” and is
paranoid about missing out in the hunt for entrepreneurs who
have the next big thing. “Often, if they find you it’s a bit
late,” says the 36-year-old.

    • About Mia

      "Mia Shanley is an American journalist based in Stockholm who covers the financial markets and economies of Sweden and Iceland. She was previously employed for five years with Reuters in Singapore and has also spent time working and studying in Taipei and London."
      Joined Reuters:
      2001
    • Contact Mia

    • Follow Mia