STOCKHOLM, Feb 6 (Reuters) – World No.2 truck maker Volvo
will increase its job cuts to 4,400, more than double
its original plan, after currency effects and the cost of
launching new models muted a rise in quarterly earnings.
But Sweden’s biggest private sector employer also unveiled a
stronger-than-expected order intake in the fourth quarter on
growth in North America, sending shares more than 4 percent
higher by 0800 GMT to outperform the broader market in Stockholm
STOCKHOLM (Reuters) – Truck maker Scania (SCVb.ST: Quote, Profile, Research, Stock Buzz) said on Wednesday it was cutting production and jobs as a boom in European demand for older models ahead of new emission rules burned out, reflected in a deeper-than-expected fall in fourth-quarter order bookings.
Heavy-duty truck makers saw orders climb in Europe last year, spurred by a growing need to replace ageing fleets and a surge in purchases of older but cheaper models ahead of new emission rules coming into force at year-end.
STOCKHOLM, Jan 28 (Reuters) – SKF, the world’s
biggest bearings maker, has lifted prices, forecasting higher
demand in the coming months as an economic recovery takes hold
on both sides of the North Atlantic and eclipses a slowdown in
some emerging markets.
The firm, a bellwether for global manufacturing with its
bearings used in products from dishwashers to wind turbines,
said on Tuesday it had rolled out list price increases of around
three percent in Europe, North America and parts of Asia – the
first increases in the former two regions in about 18 months.
STOCKHOLM, Dec 19 (Reuters) – Shares in Swedish aerospace
firm Saab leapt by a quarter on Thursday after it
beat U.S. and French rivals to win a $4.5 billion fighter deal
with Brazil, strengthening its hand in competing for export
orders for years to come.
Brazil’s choice of Saab’s Gripen single engine jet over
Boeing’s F/A-18 Super Hornet and Dassault Aviation’s
Rafale showed the Nordic group could beat global
aviation heavyweights, securing development of an aircraft that
has been surrounded by doubts.
STOCKHOLM, Dec 10 (Reuters) – Shares in bath and toilet
maker Sanitec jumped on their first day of trading
after Sweden’s biggest listing in seven years met with strong
demand from investors betting on a pick up in Europe’s
long-suffering construction industry.
The stock rose as much as 6 percent in early Tuesday trading
to hit 64.75 Swedish crowns. That compared with the offering
price of 61 crowns per share and valued the group at around 6.5
billion Swedish crowns ($994 million).
STOCKHOLM (Reuters) – When one of the biggest private education firms in Sweden went bankrupt earlier this year, it left 11,000 students in the lurch and made Stockholm rethink its pioneering market reform of the state schools system.
School shutdowns and deteriorating results have taken the shine off an education model admired and emulated around the world, in Britain in particular.
STOCKHOLM, Dec 10 (Reuters) – When one of the biggest
private education firms in Sweden went bankrupt earlier this
year, it left 11,000 students in the lurch and made Stockholm
rethink its pioneering market reform of the state schools
School shutdowns and deteriorating results have taken the
shine off an education model admired and emulated around the
world, in Britain in particular.
GOTHENBURG, Sweden, Dec 4 (Reuters) – World number two truck
maker Volvo said on Wednesday its strategic overhaul
would boost operating earnings by around 9 billion crowns in
2015, as the introduction of new models this year and a cost
cutting drive ahead paid off.
This would be around a 50 percent jump on the company’s full
year 2012 operating earnings of 17.6 billion crowns.
STOCKHOLM/OSLO, Oct 29 (Reuters) – State-owned Swedish
utility Vattenfall, which is battling weak wholesale
electricity prices and the legacy of a disastrous acquisition,
said chief executive Oystein Loseth would step down when his
contract expires in March 2015.
Scandinavia’s biggest power generator also said lingering
weakness in wholesale prices in continental Europe had weighed
on earnings as it remained under pressure at home to retrench to
its better-performing home market.
STOCKHOLM, Oct 25 (Reuters) – World number two truck maker
Volvo posted a sharp drop in third-quarter profit,
hit by a strong Swedish currency and the costs of its biggest
ever introduction of new models.
Volvo, Sweden’s largest private-sector employer, also said
on Friday it will cut 2,000 jobs as part of a plan announced in
September to generate annual savings of 4 billion Swedish