STOCKHOLM, Oct 23 (Reuters) – Truck maker Volvo
forecast growth in the European heavy-duty truck market next
year but slowing or flat sales in most other major markets after
it reported a bigger-than-expected rise in third-quarter core
profit helped by cost cuts.
Its outlook could help assuage concerns a slowing global
economy and regional instability in places such as Ukraine and
Greece derailing a recovery begun this year.
STOCKHOLM (Reuters) – A masked man wielding “knife-like weapons” walked from classroom to classroom to stab students as they opened the door, killing a teacher and a boy and wounding two others at a school in western Sweden before being shot dead by police.
Local media showed what it said was a picture of the assailant carrying a sword and dressed in a black trench coat and helmet, posing for pictures with students shortly before the attack.
STOCKHOLM, Oct 16 (Reuters) – Sweden’s SKF, the
world’s top bearings maker, painted a downbeat picture for the
industrial sector on Friday, forecasting lower demand ahead as a
global slowdown gathered pace amid sharp sales declines in North
America and Asia.
SKF, viewed as a manufacturing bellwether with its bearings
found in products ranging from skateboards to wind turbines,
posted a surprise drop in third-quarter core earnings, and said
it needed to cut costs further given the market conditions.
STOCKHOLM (Reuters) – The smallest Swedish opposition party, the Christian Democrats, voted on Friday to quit an agreement that makes it possible for the current center-left minority government to rule the country, opening up the possibility of fresh elections.
Prime Minister Stefan Lofven’s government and the mainstream opposition brokered a deal in December last year to sideline the anti-immigration Sweden Democrats (SD), who hold the balance of power in parliament, and avert a snap election
STOCKHOLM (Reuters) – Challenging the image of unemployed asylum seekers desperate for government help, many refugees in Sweden, especially well-educated Syrians, are defying discrimination and rigid labour laws to land good jobs.
One such young professional is Abdo Abou Shanab, 27, who worked as a risk officer and then financial controller at the Banque Bemo Saudi Fransi in Syria before fleeing the civil war, eventually arriving in Sweden in 2013.
STOCKHOLM (Reuters) – Truck maker Volvo (VOLVb.ST: Quote, Profile, Research, Stock Buzz) said its efforts to reach its cost-cutting target were being hampered by a weak Swedish crown, and warned it expected little growth in its crucial North American market in coming years.
The comments overshadowed forecast-beating quarterly earnings from Sweden’s biggest company by sales and top private-sector employer, and drove its shares down nearly 5 percent.
STOCKHOLM, July 15 (Reuters) – Sweden’s SKF, the
world’s largest bearings maker, said it saw demand softening in
the third quarter because of sluggish industrial production and
weakness in Europe, sending a chill through the manufacturing
After reporting quarterly core earnings that fell short of
market expectations, SKF shares tumbled 7 percent by 0830 GMT.
Its subdued outlook also weighed on manufacturing stocks such as
Sandvik and Trelleborg.
STOCKHOLM, April 28 (Reuters) – Sweden’s Atlas Copco
said on Wednesday that weak demand for its mining
equipment and large compressors had slumped further in the first
quarter, leaving its shares on track for their worst day in four
Atlas, which has long been an investor darling because of
its nimble cost structure, strong aftermarket sales and robust
cashflow, said orders had fallen furthest for underground mining
equipment, in which it is the global market leader.
STOCKHOLM, April 28 (Reuters) – Swedish state-owned utility
Vattenfall is to cut 1,000 jobs or 3 percent of its
workforce after reporting a fall in first-quarter earnings, due
to lower production and depressed power prices.
The Nordic region’s biggest utility said in a statement
adjusted operating earnings fell to 7.7 billion Swedish crowns
($892 million) from 9.1 billion a year ago.
STOCKHOLM (Reuters) – Sweden’s Volvo (VOLVb.ST: Quote, Profile, Research, Stock Buzz) named the head of Volkswagen-owned (VOWG_p.DE: Quote, Profile, Research, Stock Buzz) Scania as its chief executive on Wednesday, replacing embattled Olof Persson who for nearly four years led a sweeping efficiency drive at the global truck maker.
The group, vying for global dominance with Germany’s Daimler (DAIGn.DE: Quote, Profile, Research, Stock Buzz) and VW’s truck brands, also released better than expected quarterly earnings two days ahead of schedule and said it would seek an external partner for parts of its IT business.