Niklas's Feed
Jul 6, 2012

IKEA hits snag with India venture

NEW DELHI/STOCKHOLM (Reuters) – India has rebuffed a request by IKEA IKEA.UL to relax rules on buying goods locally, a government source said on Friday, raising the prospect of a delay in the world’s largest furniture maker entering the Indian retail market,

IKEA, famous for its self-build flatpacks and huge stores, said last month it would invest 1.5 billion euros ($1.86 billion) and open 25 outlets, throwing a lifeline to the government in India where economic growth has slowed sharply.

Jun 14, 2012

Sweden, where CEOs come cheap and still deliver

STOCKHOLM, June 14 (Reuters) – Highly paid executives in the
United States and Britain take note – your Swedish counterparts
are paid much less, yet still deliver strong corporate results.

While investors around the world are rising up against
excessive executive pay in a movement dubbed “the shareholder
spring”, there has been barely a peep in Sweden – with good
reason.

Jun 8, 2012

Iceland economy grows at fastest pace in four years

STOCKHOLM (Reuters) – Iceland’s economy expanded in the first quarter at its fastest pace since its near-meltdown, powered by a surge in exports, tourism and domestic consumption.

Gross domestic product (GDP) grew 2.4 percent quarter-on-quarter in the first three months of the year to put annual economic growth at 4.5 percent in the period, the highest since the first quarter of 2008, data from the statistics office showed on Friday.

May 14, 2012

Wealthy Sweden spending too little: policy adviser

STOCKHOLM (Reuters) – Sweden’s centre-right coalition government is being too tight-fisted with public finances that are likely to remain strong for years to come, a think tank charged with evaluating policy said on Monday.

The Swedish Fiscal Policy Council, a state agency that evaluates government policy, said it saw little risk the country would breach spending ceiling rules in the coming years and instead urged the government to slacken spending constraints.

Apr 26, 2012

Volvo to raise European truck output

STOCKHOLM, April 26 (Reuters) – World number two truckmaker
Volvo is to increase output because demand has been
recovering in Europe where its expectations for 2012 have been
raised after its first quarter beats forecasts.

Volvo, a rival to German market leader Daimler,
said on Thursday it now expected the European market to contract
to about 230,000 units this year compared with a previous
estimate of 220,000 trucks. Last year, sales were 242,400 units.

Apr 24, 2012

MegaFon deal gives Teliasonera mega-payday

STOCKHOLM/MOSCOW, April 24 (Reuters) – Shareholders in
Russian mobile phone firm MegaFon have agreed a deal
that gives control to the country’s richest man, Alisher
Usmanov, and nets Nordic telecoms firm Teliasonera a
return of over 18 times its original investment.

Tuesday’s deal ends a long-running dispute over strategy and
governance at MegaFon with an agreement to pay out a $5.15
billion dividend to all shareholders, and sees the exit from the
business of Russian billionaire Mikhail Fridman.

Apr 24, 2012

Scania Q1 tops forecast as order fall stabilises

STOCKHOLM, April 24 (Reuters) – Truck maker Scania
painted a brighter picture than expected of demand in its
crisis-hit European market on Tuesday as a fall in orders
stabilised and it rolled out a smaller fall in earnings than
feared.

Shares in the group, majority-owned by Volkswagen
, rose nearly 6 percent. The Middle East market
continued to be pummelled by the Arab Spring, it said.

Apr 24, 2012

Russia’s MegaFon to pay dividend, seek IPO

STOCKHOLM/MOSCOW, April 24 (Reuters) – Shareholders in
Russia’s No.2 mobile phone operator MegaFon agreed an
ownership shake-up on Tuesday and confirmed plans for an initial
public offering in London that sources say could raise $4
billion.

The ownership reshuffle will hand control to Russia’s
richest man, Alisher Usmanov, as billionaire Mikhail Fridman’s
Altimo exits and Nordic telecoms firm TeliaSonera
sells down its stake, TeliaSonera said in a statement.

Apr 23, 2012

Alfa Laval margins pressured by flat demand

STOCKHOLM, April 23 (Reuters) – Profitability at Alfa Laval
slid to a five-year low in the first quarter, hit by a
shipbuilding slump which kept its production below capacity, and
the engineer warned of flat demand to come.

Alfa’s outlook bucked a more optimistic view for the
engineering sector which followed results last week from
bearings maker SKF, seen as a gauge of industrial
activity.

Apr 19, 2012

SKF sees rising demand as Europe woes recede

STOCKHOLM, April 19 (Reuters) – SKF, the world’s
biggest bearings maker, struck an upbeat note for the industrial
sector on Thursday, forecasting rising demand from the United
States and Asia and a more stable Europe after in-line quarterly
earnings.

The Swedish group, whose products are used in everything
from jets to dishwashers and which is one of the first major
manufacturers to open books on the first quarter, forecast
overall market demand would be slightly higher in the second
quarter versus the first.