STOCKHOLM, Dec 10 (Reuters) – Shares in bath and toilet
maker Sanitec jumped on their first day of trading
after Sweden’s biggest listing in seven years met with strong
demand from investors betting on a pick up in Europe’s
long-suffering construction industry.
The stock rose as much as 6 percent in early Tuesday trading
to hit 64.75 Swedish crowns. That compared with the offering
price of 61 crowns per share and valued the group at around 6.5
billion Swedish crowns ($994 million).
STOCKHOLM (Reuters) – When one of the biggest private education firms in Sweden went bankrupt earlier this year, it left 11,000 students in the lurch and made Stockholm rethink its pioneering market reform of the state schools system.
School shutdowns and deteriorating results have taken the shine off an education model admired and emulated around the world, in Britain in particular.
STOCKHOLM, Dec 10 (Reuters) – When one of the biggest
private education firms in Sweden went bankrupt earlier this
year, it left 11,000 students in the lurch and made Stockholm
rethink its pioneering market reform of the state schools
School shutdowns and deteriorating results have taken the
shine off an education model admired and emulated around the
world, in Britain in particular.
GOTHENBURG, Sweden, Dec 4 (Reuters) – World number two truck
maker Volvo said on Wednesday its strategic overhaul
would boost operating earnings by around 9 billion crowns in
2015, as the introduction of new models this year and a cost
cutting drive ahead paid off.
This would be around a 50 percent jump on the company’s full
year 2012 operating earnings of 17.6 billion crowns.
STOCKHOLM/OSLO, Oct 29 (Reuters) – State-owned Swedish
utility Vattenfall, which is battling weak wholesale
electricity prices and the legacy of a disastrous acquisition,
said chief executive Oystein Loseth would step down when his
contract expires in March 2015.
Scandinavia’s biggest power generator also said lingering
weakness in wholesale prices in continental Europe had weighed
on earnings as it remained under pressure at home to retrench to
its better-performing home market.
STOCKHOLM, Oct 25 (Reuters) – World number two truck maker
Volvo posted a sharp drop in third-quarter profit,
hit by a strong Swedish currency and the costs of its biggest
ever introduction of new models.
Volvo, Sweden’s largest private-sector employer, also said
on Friday it will cut 2,000 jobs as part of a plan announced in
September to generate annual savings of 4 billion Swedish
STOCKHOLM, Oct 24 (Reuters) – Swedish machinery and tool
maker Sandvik said on Thursday a sharp fall in demand
from a shrinking mining industry was showing signs of levelling
But the slump still hit its earnings, and led to a fall in
orders at Finnish rival Metso, which also stepped up
a programme of cost cuts.
STOCKHOLM, Oct 24 (Reuters) – Machinery and tool maker
Sandvik said a sharp fall in demand from a retrenching
mining industry was showing signs of levelling out after pushing
the Swedish company to a bigger than expected fall in
The global mining industry is under pressure to cut costs as
demand for raw materials levels off from a decade of booming
growth with the likes of BHP Billiton and Rio Tinto
slashing billions of dollars in capital spending.
STOCKHOLM, Oct 14 (Reuters) – Three American scientists won
the 2013 economics Nobel prize on Monday for research that has
improved the forecasting of asset prices in the long term and
helped the emergence of index funds in stock markets, the
award-giving body said.
“There is no way to predict the price of stocks and
bonds over the next few days or weeks,” The Royal Swedish
Academy of Sciences said in awarding the 8 million crown ($1.25
million) prize to Eugene Fama, Lars Peter Hansen and Robert
STOCKHOLM (Reuters) – Canadian Alice Munro won the Nobel Prize in Literature on Thursday for her tales of the struggles, loves and tragedies of women in small-town Canada that made her what the award-giving committee called the “master of the contemporary short story”.
“Some critics consider her a Canadian Chekhov,” the Swedish Academy said, comparing her to the 19th-century Russian short story writer in a statement on its website.