STOCKHOLM, Nov 23 (Reuters) – Jacob Wallenberg, the
58-year-old head of one of Europe’s most enduring family
dynasties, is trying to work out how the empire controlling much
of Sweden’s economy could look with a woman or someone without
the family name at the helm.
Roughly 30 members of the sixth generation, aged between 15
and 30, are contenders to see if they could one day run
Wallenberg’s Investor holding company and several foundations
with major stakes in Electrolux, Atlas Copco and Ericsson.
CHARLOTTE, North Carolina/STOCKHOLM, Nov 20 (Reuters) -
S weden’s Electrolux said on Thursday it expected a
resurgent U.S. economy and cheaper raw materials to slightly
boost global demand for home appliances next year.
Electrolux, vying for market leadership with U.S. rival
Whirlpool Corp and China’s Haier Electronics Group Co
Ltd, also estimated savings of 1 billion Swedish
crowns ($135 million) in 2015 from its latest round of cost
cuts, including layoffs and plant closures.
/STOCKHOLM, Nov 19 (Reuters) – Compressor and
machinery maker Atlas Copco affirmed its outlook for
slightly higher demand in the near term on Wednesday and said it
stood ready to adapt its business wherever needed to shifts in
The Swedish company, which held a capital markets day for
investors on Wednesday in Charlotte, North Carolina, and a tour
of its plant in Rock Hill, South Carolina, usually defines “near
term” as the current quarter.
STOCKHOLM, Nov 19 (Reuters) – Chinese-owned Volvo Car Group
said on Wednesday a sweeping overhaul of its model range over
the next five years would propel its long-suffering sales
volumes in the United States back above 100,000 cars per year.
Strong growth in China and more modest gains in Europe have
helped Volvo grow sales for 16 straight months. However,
turnover in the United States, once its biggest market but now
eclipsed by China, has been eroding over the past decade.
STOCKHOLM, Oct 29 (Reuters) – Sweden’s central bank believes
it can avoid Japan’s deflationary fate after cutting interest
rates to zero; critics say it no longer has any safety margin
should a shock hit the economy, and even compare its record with
U.S. policy mistakes of the 1930s.
Defying conventional economics, Sweden is enjoying one of
the healthiest growth rates in Europe even though the consumer
price index has been flat or fallen in every month but one this
STOCKHOLM (Reuters) – Global truck maker Volvo posted a surprise rise in core quarterly profit on Friday as deep cost cuts more than made up for lackluster demand in some major markets, sending its shares up 10 percent.
The group, which vies for market leadership with Germany’s Daimler and Volkswagen’s Scania and MAN brands, said it would take out more costs to boost profitability that has often lagged its rivals.
STOCKHOLM (Reuters) – Global home appliances maker Electrolux (ELUXb.ST: Quote, Profile, Research, Stock Buzz) struck a note of caution over its European business, predicting market growth at the low end of its forecast range after reporting slightly better than expected quarterly profit on Monday.
The Swedish group, vying for market leadership with U.S. rival Whirlpool (WHR.N: Quote, Profile, Research, Stock Buzz) and China’s Haier (1169.HK: Quote, Profile, Research, Stock Buzz), said it expected demand in Europe, which accounts for around a third of sales, to grow about 1 percent this year, at the bottom of its expectations for expansion of 1-3 percent.
STOCKHOLM (Reuters) – Sweden released on Sunday a grainy photo of a mysterious vessel in Stockholm’s archipelago, as the military hunted for a foreign submarine or divers in the country’s biggest such mobilization since the Cold War.
The search in the Baltic Sea less than 30 miles (50 km) from Stockholm began on Friday and reawakened memories of the final years of the Cold War when Sweden repeatedly sought out suspected Soviet submarines along its coast with depth charges.
STOCKHOLM, Oct 18 (Reuters) – Sweden boosted its military
presence in Stockholm’s archipelago on Saturday to scour its
waters for “foreign underwater activity” in a mobilisation of
ships, troops and helicopters unseen since the Cold War.
The search in the Baltic Sea less than 31 miles (50 km) from
Stockholm began on Friday and brought back vivid memories of the
final years of the Cold War when Sweden repeatedly hunted
suspected Soviet submarines along its coast with depth charges.
STOCKHOLM (Reuters) – Sweden boosted its military presence in Stockholm’s archipelago on Saturday to scour its waters for “foreign underwater activity” in a mobilization of ships, troops and helicopters unseen since the Cold War.
The search in the Baltic Sea less than 31 miles (50 km) from Stockholm began on Friday and brought back vivid memories of the final years of the Cold War when Sweden repeatedly hunted alleged submarines along its coasts with depth charges.