Niklas's Feed
Mar 8, 2011

Iceland’s fragile economy slips back in Q4

STOCKHOLM, March 8 (Reuters) – Iceland’s GDP shrank again in
the final part of 2010 after expanding in the third quarter,
underlining the fragility of its economy, which closed last year
registering its first year on year growth since the financial
crisis.

Iceland’s top three banks collapsed in late 2008 as the
global credit crisis struck, triggering a deep recession.

Mar 3, 2011

Ericsson proposes Volvo CEO as new chairman

STOCKHOLM, March 3 (Reuters) – Sweden’s Ericsson (ERICb.ST: Quote, Profile, Research, Stock Buzz),
the world’s biggest mobile networks maker, said on Thursday it
planned to appoint truck maker Volvo’s (VOLVb.ST: Quote, Profile, Research, Stock Buzz) top executive
as its new chairman.
Ericsson said it was proposing that its annual general
meeting elect Leif Johansson, the chief executive of the world
number two truck maker who is due to step down later this year
after a decade at the helm. [ID:nLDE6B71CN]

There had been speculation Johansson would succeed Michael
Treschow as chairman of the telecom giant after Treschow, who is
also chairman of consumer products group Unilever (ULVR.L: Quote, Profile, Research, Stock Buzz), said
he would leave Ericsson this year or the next. [ID:nLDE6B507Z]

Feb 7, 2011

Assa Abloy sees some growth in Europe this year

STOCKHOLM, Feb 7 (Reuters) – Assa Abloy AB (ASSAb.ST: Quote, Profile, Research, Stock Buzz), the
world’s biggest lock maker, expects some growth in its main
European market this year as construction expands in Germany and
other strong economies.

Posting 15 percent growth in fourth-quarter core earnings,
in line with expectations, the company said growth in some areas
would offset the impact of government austerity measures in
other markets.

Feb 4, 2011

Volvo profit lags as output hike hits snag

STOCKHOLM (Reuters) – World number two truck maker Volvo (VOLVb.ST: Quote, Profile, Research, Stock Buzz) posted a smaller-than-expected rise in fourth-quarter earnings on Friday, hit by problems as output was ramped up to meet a strong rise in demand.

The highly cyclical demand for heavy-duty trucks has picked up rapidly, leading Volvo to raise its forecast for demand on both sides of the Atlantic, but also leaving truck makers with the task of smoothly raising output from rock-bottom levels.

Feb 1, 2011

SKF cautions on materials costs and currencies

STOCKHOLM, Feb 1 (Reuters) – Sweden’s SKF (SKFb.ST: Quote, Profile, Research, Stock Buzz), the
world’s biggest bearings maker, said it faced adverse currency
movements due to a stronger crown and rising raw materials costs
after posting a rise in fourth-quarter figures.

Its shares were down 5.9 percent at 173.2 crowns by 1220
GMT, underperforming the broader market , while peers
Atlas Copco (ATCOa.ST: Quote, Profile, Research, Stock Buzz) and Sandvik (SAND.ST: Quote, Profile, Research, Stock Buzz) dipped 1.7 percent
and 2.7 percent respectively.

Jan 27, 2011

Volvo share plan could pave way for Renault exit

STOCKHOLM (Reuters) – Renault (RENA.PA: Quote, Profile, Research, Stock Buzz) and the other main owner of truck maker Volvo (VOLVb.ST: Quote, Profile, Research, Stock Buzz) on Thursday proposed a share conversion plan, which could set the stage for the French carmaker’s eventual exit from Volvo.

Speculation Renault will sell off its holding in Volvo, which it considers a financial rather than strategic asset, has been rife in recent years and grew more intense after it sold a block of B-shares last year.

Dec 29, 2010

Skanska sells Chile highway stake, shares up

STOCKHOLM, Dec 29 (Reuters) – Skanska (SKAb.ST: Quote, Profile, Research, Stock Buzz), the Nordic
region’s biggest construction group, said it was selling its
stake in a Chilean highway concession in an eagerly anticipated
deal that could pave the way for a hefty payout to shareholders.
Skanska said in a statement it was selling its 50 percent
stake in the six-lane Autopista Central highway concession to
Alberta Investment Management Corporation, one of Canada’s
largest institutional management firms.

The deal for the concession in Santiago, Chile, would
generate a 5 billion crown ($731 million) gain, it said.

Dec 29, 2010

Skanska sells stake Chile highway stake, shares up

STOCKHOLM, Dec 29 (Reuters) – Skanska (SKAb.ST: Quote, Profile, Research), the Nordic
region’s biggest construction group, said it was selling its
stake in a Chilean highway concession in an eagerly anticipated
deal that could pave the way for a hefty payout to shareholders.
Skanska said in a statement it was selling its 50 percent
stake in the six-lane Autopista Central highway concession to
Alberta Investment Management Corporation, one of Canada’s
largest institutional management firms.

The deal for the concession in Santiago, Chile, would
generate a 5 billion crown ($731 million) gain, it said.

Dec 14, 2010

Sweden bomber sought big targets; new threat made

STOCKHOLM (Reuters) – A Middle Eastern man killed in a blast in Stockholm was wearing a bomb belt and ready to attack a train station or department store when the device went off prematurely, Sweden’s chief prosecutor said on Monday.

Police were all but certain the attacker was Taymour Abdulwahab, who emigrated to Sweden in 1992 but mostly lived in Britain with his wife and two children.

Dec 13, 2010

Stockholm bomber aimed for major targets: prosecutor

STOCKHOLM (Reuters) – A Middle East-born man who died in a blast in Stockholm was wearing an explosives belt and likely intended to attack a crowded train station or department store when the device went off prematurely, an official said.

Sweden’s chief prosecutor Tomas Lindstrand told a news conference on Monday the man had been well equipped with explosives, including the belt, and he assumed the man had accomplices as the attack was well planned.