Niklas's Feed
Apr 18, 2012

Swedish central bank kills talk of early rate cut

STOCKHOLM, April 18 (Reuters) – Sweden’s central bank
quashed expectations for early rate cuts on Wednesday, keeping
interest rates unchanged and saying they were likely to remain
that way for more than a year.

It saw a glimmer of hope for economic growth that has taken
hits from the debt crisis in the neighbouring euro zone. The
central bank, the Riksbank, has cut rates twice recently in
response to slumping exports.

Apr 16, 2012

Austerity ends 13-year rise in global military spending

STOCKHOLM, April 17 (Reuters) – Budget cuts by wealthy
western countries has ended a 13-year run of rising military
spending in the world, despite big increases by China and
Russia, a study released on Tuesday said.

“The after-effects of the global economic crisis, especially
deficit-reduction measures in the USA and Europe, have finally
brought the decade-long rise in military spending to a halt – at
least for now,” said one of the report’s authors, Sam
Perlo-Freeman of the Stockholm International Peace Research
Institute SIPRI.

Apr 10, 2012

Swedish industry output posts worst fall in 2 years

STOCKHOLM, April 10 (Reuters) – Swedish industrial
production suffered its sharpest fall since 2009 in February,
jarring a reassuringly rosy outlook painted by other recent
economic indicators and calling into question expectations the
central bank will not take rates any lower.

The Nordic country, sheltered by robust public finances, has
so far weathered the downturn spawned by the euro zone debt
crisis with relative ease and recent gauges of economic activity
had pointed to a moderate recovery.

Apr 2, 2012

Ratos sells pest control firm Anticimex to EQT

STOCKHOLM, April 2 (Reuters) – Sweden’s Ratos is
selling pest control firm Anticimex to fellow private equity
group EQT in a deal that valued the company at about 2.9 billion
crowns ($437.05 million), keeping up the steady pace of Nordic
deals.

Ratos, which owns 85 percent of Anticimex, said on Monday
that the selling price for 100 percent of the shares amounted to
1.775 billion crowns and that it would book a net exit gain on
the transaction of about 940 million crowns.

Mar 29, 2012

Sweden proposes higher tax on private equity profits

STOCKHOLM, March 29 (Reuters) – Sweden moved to tighten tax
rules for owners of stakes in private equity funds, part of a
push against untaxed profits in the 250 billion crown ($37.5
billion) industry, which is the second biggest in Europe
relative to economic output.

A Finance Ministry proposal aims to tax income of private
equity fund owners, or so called carried interest, primarily at
the income tax rate rather than the capital gains rate which is
lower.

Mar 17, 2012

Swedish plane crash rescue ends as body parts found

STOCKHOLM/OSLO, March 17 (Reuters) – Swedish police
called off a rescue operation after searchers on Saturday
recovered human remains from the site of a Norwegian military
plane crash on a remote peak in Sweden’s high north.

All five Norwegian Air Force officers who had been aboard
the Lockheed Martin C-130J Hercules transport craft
before it hit Sweden’s highest mountain around midday on
Thursday are now presumed dead, a spokesman said.

Mar 16, 2012

Iceland to repay early a fifth of IMF, Nordic loans

STOCKHOLM (Reuters) – The Icelandic government said on Thursday it would repay early a fifth of the billions of dollars of loans it received from the International Monetary fund and its Nordic neighbors in the wake of the collapse of its banking sector in 2008.

The early repayment of the loans is a symbolic step for the country of just 320,000 people on its road to recovery from a financial meltdown that left its economy in tatters and its name a byword for the ravages of the global financial crisis.

Feb 10, 2012

Assa Abloy sees life in moribund U.S. and Europe

STOCKHOLM, Feb 10 (Reuters) – Assa Abloy,
the world’s biggest lock maker, sees brighter prospects in its
long-suffering European and U.S. markets this year as frozen
demand for building renovation starts to thaw.

The Sweden-based company whose products range from household
locks to advanced digital entrance systems, has been squeezed by
sharp cuts in public spending across Europe in recent quarters
with growth primarily coming from emerging markets such as
China.

Feb 7, 2012

Shipyard woes hit engineer Alfa Laval

STOCKHOLM, Feb 7 (Reuters) – A sharp fall in demand
from the struggling shipbuilding industry hit fourth-quarter
order bookings at Swedish engineer Alfa Laval, sending
its stock down 8 percent on Tuesday.

Shipbuilders are under pressure as customers postpone orders
in the face of the euro zone debt crisis, while a glut of ships
ordered when the times were good has outpaced freight demand in
both dry bulk and the tanker market, slamming ship owner
earnings.

Feb 3, 2012

Volvo sees European, U.S. markets diverging

STOCKHOLM, Feb 3 (Reuters) – World number two
truckmaker Volvo expects its main markets to diverge
this year, with demand in Europe seen down about 10 percent amid
euro zone debt woes and North American volumes growing by a
sixth.

“With the uncertainty in the European economy it is
difficult to forecast demand for trucks in 2012,” chief
executive Olof Persson said on Friday, after Volvo reported
record earnings and sales for 2011.