STOCKHOLM (Reuters) – Sweden’s center-left Social Democrat leader Stefan Lofven emerged as victor in Sunday’s general election after a voter backlash against tax cuts and trimmed welfare by a center-right government, but he fell short of a parliamentary majority.
The Nordic region’s biggest economy and one of the few star performers in Europe now faces a weak minority government with a possible political impasse as the anti-immigrant far right emerged as the third biggest party to hold the balance of power.
STOCKHOLM (Reuters) – Sweden, seen for years as a beacon of stability and reforms in a crisis-ridden Europe, may be heading for political deadlock after Sunday’s general election, with polls suggesting that both right and left might be unable to form a stable government.
Prime Minister Fredrik Reinfeldt’s center-right coalition is battling an opposition alliance led by the Social Democrats. But neither group looks set to win a majority – putting them at the mercy of more radical leftist or far-right parties.
STOCKHOLM, Sept 7 (Reuters) – “Good enough” might not make
for a marketing slogan, but some of Europe’s top engineering
companies, which have made their reputation on the quality of
their products, are hoping it will make for a profitable
That is largely because the ‘Goldilocks’ market for
industrial equipment – not as pricy as these companies’ premium
products nor as cheap as the often shoddy offering from budget
manufacturers – accounts for a huge part of Chinese domestic
demand and is also growing further afield, even in the developed
economies of the West.
STOCKHOLM (Reuters) – For many Swedish businesses and prosperous households, years of falling taxes and reforms that put maids in middle class homes and fed a consumer boom in luxury cars and holidays in Asia may be drawing to a close.
Elections on Sept. 14 look set to throw out a center-right government as many voters rebel against welfare cuts, stubbornly high unemployment, poor school results and tales of hospitals straining to care for patients.
STOCKHOLM, Aug 21 (Reuters) – The head of the world’s
biggest maker of bearings, Sweden’s SKF, will step
down at the end of the year after a decade in charge, succeeded
by returning company veteran Alrik Danielson.
Tom Johnstone, a Scotsman and one of just a handful of
foreigners at the helm of a Swedish blue-chip business, tried to
make SKF less prone to sharp swings in profitability by pushing
into services, adding new product areas such as lubrication
systems and exiting some activities including engineering steel.
STOCKHOLM, Aug 20 (Reuters) – Chinese-owned Volvo Car Group
raised its outlook for 2014 sales after returning to profit in
the first half as strong growth in China and a moderate upturn
in Europe more than offset lingering weakness in the United
Gothenburg-based Volvo, one of Sweden’s top exporters and
employers though a small player in the global autos industry,
saw demand gain traction during the end of last year and figures
on Wednesday showed momentum had carried into 2014.
STOCKHOLM (Reuters) – Truck maker AB Volvo (VOLVb.ST: Quote, Profile, Research) posted core earnings well below expectations on Friday as it struggled with slow demand for European trucks at the start of the second quarter and a weakening market for construction equipment in China.
The profit miss raises pressure on Sweden’s biggest company by sales – and the country’s top private sector employer – to show that a sweeping three-year plan to boost profitability is starting to boost its bottom line significantly.
STOCKHOLM (Reuters) – Global truck maker Volvo posted a smaller than expected rise in core earnings on Friday as a slower than expected pick-up in demand in its biggest market, Europe, had left it with over-capacity in its production.
But the company, Sweden’s biggest by sales and top private sector employer, also said it was slightly ahead of plan with efforts to secure better prices for its trucks and bolster profit margins in its biggest unit.
STOCKHOLM, July 18 (Reuters) – Global truck maker Volvo
posted a smaller than expected rise in core earnings
on Friday as a slower than expected pick-up in demand in its
biggest market, Europe, had left it with over-capacity in its
But the company, Sweden’s biggest by sales and top private
sector employer, also said it was slightly ahead of plan with
efforts to secure better prices for its trucks and bolster
profit margins in its biggest unit.
STOCKHOLM, July 16 (Reuters) – Mining equipment and
compressor maker Atlas Copco AB said it had detected
more a more optimistic tone in the mining sector, raising the
prospect of a recovery in the industry from a two-year slump and
sending its shares to a record high.
The Swedish company’s mining customers have been retrenching
after a decade of heady expansion, as softer metals prices and
an investor backlash at the scale of investment forced major
players such as Rio Tinto and BHP Billiton to
slash billions of dollars in spending.