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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.

Jun 18, 2014

H&M plans more websites to catch up with fashion rivals

STOCKHOLM, June 18 (Reuters) – Hennes & Mauritz,
the world’s second-biggest fashion retailer, plans to step up
the pace of its online expansion next year to catch up with
rivals in e-commerce.

The Swedish budget fashion firm also said on Wednesday that
sales in June had got off to a good start after it reported
second-quarter profit in line with analysts’ forecasts due to
brisk spring sales and increased market share.

May 15, 2014

Banks vie for fees as Nordic deal scene ignites

STOCKHOLM, May 15 (Reuters) – Scandinavia has become a hot
spot in Europe’s corporate dealmaking scene this year, almost
doubling its share of merger and acquisition activity and
listing more companies than anywhere but Britain.

With others in the pipeline, global banks are building up
their presence, but face stiff competition from Swedish banks
SEB, the established frontrunner, and Nordea, a relative
newcomer to the top table with big ambitions.

Apr 29, 2014

Nordea earnings top forecasts after corporate banking pick-up

STOCKHOLM, April 29 (Reuters) – Nordea Bank AB
posted forecast-beating first-quarter earnings on the back of a
strong performance in its corporate advisory business, saying on
Tuesday it saw further growth in activity by companies in its
home Nordic markets.

Shares in the Nordic region’s biggest lender were up 3.1
percent at 93.4 Swedish crowns by 0855 GMT, outperforming the
broader Stockholm blue-chip index and trading not far
from a record high of 94.05 crowns set earlier this month.

Apr 28, 2014

Kinnevik to keep up spending on online, financial services

STOCKHOLM, April 28 (Reuters) – Swedish investment firm
Kinnevik, a major investor in the telecoms sector and
internet start-ups, plans to spend 2 to 3 billion crowns
($303-455 million) on new investments this year, mainly in
online and financial services.

The company, which has a major stake in Europe’s biggest
online fashion firm Zalando, has already spent 469 million
crowns in the first quarter, the bulk of which went into
e-commerce and businesses such as India’s leading online
classified site Quikr. It spent 2.4 billion crowns in 2013.

Apr 11, 2014

Scania posts strong Q1, but VW won’t boost buyout bid

STOCKHOLM, April 11 (Reuters) – Germany’s Volkswagen said on
Friday it would not raise an offer to minority shareholders in
Scania after the truckmaker posted strong earnings, hitting the
Swedish firm’s shares as the deadline for acceptance of the
buyout nears.

VW bid 200 Swedish crowns ($30.6) per share to
buy what it does not own of Scania, an offer rejected by Scania
board members without direct links to the German auto giant and
which most small shareholders have yet to commit to.

    • 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
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