STOCKHOLM, Sept 24 (Reuters) – Sweden is to sell its
remaining 7 percent stake in Nordea, the Nordic
region’s biggest bank, its second sale of Nordea shares this
year and giving the centre-right ruling coalition some fiscal
room for manoeuvre ahead of next year’s general election.
The government, Nordea’s second-biggest owner behind Finnish
insurer Sampo, said it would sell up to 284 million
ordinary shares in Nordea and will use the proceeds to reduce
the national debt.
STOCKHOLM/FRANKFURT, Aug 1 (Reuters) – A likely rush by
haulage operators to upgrade fleets before new emission rules
take effect is posing problems for investors assessing the real
strength of a nascent European truck sector recovery.
A short-lived boost will distort production schedules for
recession-hit European truck makers still well short of peak
sales levels hit in the years before the 2008 financial crash.
STOCKHOLM, July 24 (Reuters) – World number two truck maker
Volvo AB achieved stronger-than-expected orders and
earnings in the second quarter as a recovery in demand gained
pace in nearly all its main markets.
Shares in Sweden’s largest private sector employer and
biggest company by sales rose 2.9 percent in early trade,
extending recent gains to hit their highest level in more than a
STOCKHOLM, July 19 (Reuters) – Truck maker Scania
said on Friday it will raise production in the coming months as
an upturn in demand in the long-suffering European market
gathered pace, lifting its order intake in the second quarter.
While a smaller than expected rise in earnings, dented by a
strong Swedish currency and price pressure, weighed on
Scania shares, the company’s upbeat stance on demand is a
positive sign for a hard-hit truck industry across Europe.
STOCKHOLM, July 18 (Reuters) – Engineering group Atlas Copco
announced more job losses on Thursday as spending
cuts across the mining industry hit demand for its trademark
drill rigs and loaders and raised worries the sector’s downturn
may have further to run.
Robust activity in services and industrial equipment stemmed
a fall in group profit and orders but the company forecast that
demand for mining gear would slip further in the near term.
STOCKHOLM (Reuters) – SKF (SKFb.ST: Quote, Profile, Research, Stock Buzz), the world’s biggest maker of bearings and a bellwether of the manufacturing sector, reported a tentative improvement in demand, driven by a surprise pick up in sales to Europe’s car industry as well as energy and aerospace customers.
However the Swedish group, whose bearings are used in products ranging from dishwashers to wind turbines, struck a cautious tone about the months ahead, saying demand would probably consolidate at second-quarter levels for now.
FRANKFURT/STOCKHOLM, June 20 (Reuters) – Mining equipment
manufacturers are making improvements to machinery that they
hope will deliver productivity gains for customers and counter
Under pressure from investors for higher returns, miners
want to get the most out of every shovel, grinder and truck to
help maintain margins which are being squeezed by high labour
and energy costs and cooling commodity prices.
STOCKHOLM (Reuters) – The scene of Sweden’s worst riots in years, Husby is on the surface at least a typically neat suburb of colorful playgrounds, manicured parks and low rise apartment buildings.
Conversations with residents of this immigrant neighborhood soon bring tales of fruitless job hunts, police harassment, racial taunts and a feeling of living at the margins that are at odds with Sweden’s reputation for openness and tolerance.
STOCKHOLM, May 20 (Reuters) – Engineering group Atlas Copco
expects resilient service revenues and efficiency
drives by cost-conscious miners to sustain growth in its mining
and rock drilling business.
The global mining industry is suffering a hangover from a
decade-long boom of rapid expansion and expensive projects with
firms such as BHP Billiton and Rio Tinto now
slashing billions of dollars of spending.
STOCKHOLM, May 3 (Reuters) – Chinese-owned Volvo
Cars said on Friday it could reach break even on an
operating level this year without help from one-off gains that
alone kept the carmaker in the black in 2012.
Languishing sales in China and Europe took a heavy toll on
the car industry in 2012, sending Volvo’s operating profit
plummeting to 18 million Swedish crowns ($2.76 million).