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Oct 9, 2012

Quantum particle work wins Nobel for French, U.S. scientists

STOCKHOLM (Reuters) – A French and an American scientist won the Nobel Prize on Tuesday for finding ways to measure quantum particles without destroying them, which could make it possible to build a new kind of computer far more powerful than any seen before.

Serge Haroche of France and American David Wineland, both 68, found ways to manipulate the very smallest particles of matter and light to observe strange behavior that previously could only be imagined in equations and thought experiments.

Jul 24, 2012

Volvo Q2 orders hit as slowdown spreads

STOCKHOLM, July 24 (Reuters) – Truck maker Volvo’s
orders soured more than expected in the second
quarter as a market slump already deeply entrenched in parts of
Europe spread across the Atlantic.

After riding high on a strong recovery through 2010 and most
of 2011, truck builders are braced for tougher challenges from
the euro zone’s sovereign debt crisis and a related slowdown in
the global economy.

Jul 20, 2012

Scania orders defy European market gloom

STOCKHOLM, July 20 (Reuters) – Truck maker Scania
eased the slide in orders in the second quarter, defying a steep
fall in demand in Europe and sending its shares up 6 percent on

The highly cyclical market for commercial vehicles has been
losing steam fast in recent months on both sides of the
Atlantic, though Europe has been slammed by economic downturn
and a credit squeeze.

Jul 19, 2012

Sandvik overhaul helps deliver record profit

STOCKHOLM, July 19 (Reuters) – Cost cuts helped Sandvik
produce record second quarter earnings on Thursday,
showing that a major overhaul of the Swedish machinery and
mining gear maker is paying off.

The manufacturer of products from stainless steel alloys to
tools for rock drilling is restructuring after losses in the
wake of the 2008/2009 financial crisis. It brought in Chief
Executive Olof Faxander last year to lead the overhaul, which
includes annualised cost-cuts of 1 billion crowns this year.

Jul 18, 2012

SKF cuts output as global slowdown tightens grip

STOCKHOLM, July 18 (Reuters) – SKF, the world’s
top bearings maker and a leading indicator of manufacturing
activity, is to scale back production and make further cost cuts
this year as a global slowdown continues to tighten its grip on

The Swedish group, whose bearings are used in products from
jets to dishwashers, on Wednesday, forecast flat demand for the
third quarter, prompting it to plan for slightly lower
production levels than in the April-June period.

Jul 17, 2012

Sweden’s Atlas Copco hit by slowing orders

STOCKHOLM, July 17 (Reuters) – Atlas Copco
reported its first fall in like-for-like orders since 2009,
suggesting that the mining boom the Swedish compressor and
machinery manufacturer has been riding for the past two years
may be losing steam.

The weakening order book at one of the world’s top suppliers
of mining gear eclipsed better than expected quarterly earnings
and a reassuring forecast for unchanged demand in the near term
to send its shares down 2.3 percent to 145.7 Swedish crowns
($20.65) by 1129 GMT on Tuesday.

Jul 10, 2012

Swedish factory output bounces, easing growth fears

STOCKHOLM, July 10 (Reuters) – Sweden’s industrial sector
picked up pace faster than expected in May, in a broad-based
upturn that snapped several months of declines and eased
concerns that the economy could struggle to grow in the second

Industrial production rose 3.5 percent from April, the
statistics office said, beating a forecast of a 0.3 percent gain
by analysts polled by Reuters.

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

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.