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Sep 2, 2015

In Nordics, many refugees encounter a paradise lost

STOCKHOLM, Sep 2 (Reuters) – Sweden may have one of Europe’s most generous immigration regimes but there is flip side – one of the poorest records among wealthy industrialized nations of integrating newcomers, especially thousands of refugees, into its labor force.

That failure to provide jobs, a cornerstone to fuller acceptance into society, has helped create an ethnic underclass, straining Sweden’s open-mindedness toward foreigners and fuelling the far right – a trend mirrored across the Nordics.

Sep 2, 2015

In Nordics, many refugees encounter a paradise lost

STOCKHOLM, Sep 2 (Reuters) – Sweden may have one of Europe’s
most generous immigration regimes but there is flip side – one
of the poorest records among wealthy industrialised nations of
integrating newcomers, especially thousands of refugees, into
its labour force.

That failure to provide jobs, a cornerstone to fuller
acceptance into society, has helped create an ethnic underclass,
straining Sweden’s open-mindedness toward foreigners and
fuelling the far right – a trend mirrored across the Nordics.

Aug 24, 2015

Finland says without Britain there is no EU

HELSINKI/STOCKHOLM (Reuters) – Without Britain, there is no European Union, Finland’s finance minister said on Monday in a boost for his British counterpart George Osborne as he toured Scandinavia to drum up support for London’s push to reform the 28-nation bloc.

Prime Minister David Cameron’s Conservative government, re-elected for a five-year term in May, aims to renegotiate the terms of Britain’s EU membership and then put the settlement to a national in-out referendum by the end of 2017.

Aug 13, 2015

Swedish prosecutor drops three Assange cases, rape case to continue

STOCKHOLM (Reuters) – Swedish prosecutors said on Thursday they would push on with an investigation into an allegation of rape made in 2010 against WikiLeaks founder Julian Assange after dropping probes into three other allegations as they had run out of time to bring charges.

Assange denies the accusations and has been holed up inside Ecuador’s London embassy since June 2012 to avoid extradition to Sweden. Ecuador has granted Assange asylum.

Aug 11, 2015

New CEO at Sweden’s Sandvik says to review operations

STOCKHOLM, Aug 11 (Reuters) – Hopes that Sandvik’s
new CEO can repeat his trick of boosting profit at Finland’s
Wartsila sent shares in the Swedish tool and mining
equipment firm higher on Tuesday with analysts expecting
increased cost cutting and efficiencies.

Sandvik said late on Monday it would replace CEO Olof
Faxander after 4-1/2 years in the job during which its shares in
had badly underperformed peers such as Atlas Copco.

Aug 10, 2015

Two killed in knife attack at IKEA in Sweden; two arrested

STOCKHOLM (Reuters) – A man and a woman were killed and a third injured in a knife attack at an IKEA store in the Swedish city of Vasteras on Monday and two suspects were arrested, police said.

One of the suspects was apprehended at the scene and the second, who was seriously injured, was picked up at a hospital a few hours later, commanding police officer Per Agren said at a press conference. How he was injured was not clear.

May 26, 2015

Riksbank will act if May inflation undershoots, Swedish central banker says

STOCKHOLM, May 26 (Reuters) – Sweden’s central bank will be
forced to act if May inflation figures repeat the disappointing
data from the month before, Riksbank Deputy Governor Per Jansson
said on Tuesday.

The Riksbank has slashed rates – it cut the benchmark rate
to -0.25 percent in March – and has begun a programme to buy up
to 90 billion crowns ($10.62 billion) in government bonds as it
fights the threat of deflation.

Apr 29, 2015

Sweden central bank holds rates in surprise move, expands bond buying

STOCKHOLM (Reuters) – Sweden’s central bank kept its rates on hold at -0.25 percent on Wednesday, surprising markets which had expected a cut, but expanded its asset purchase programme and said it stood ready to do more to support inflation at short notice if needed.

Analysts in a Reuters poll had forecast a rate cut to -0.35 percent and further bond purchases of up to 50 billion crowns.

Apr 29, 2015

Sweden c.bank holds rates in surprise move, expands bond buying

STOCKHOLM, April 29 (Reuters) – Sweden’s central bank kept
its rates on hold at -0.25 percent on Wednesday, surprising
markets which had expected a cut, but expanded its asset
purchase programme and said it stood ready to do more to support
inflation at short notice if needed.

Analysts in a Reuters poll had forecast a rate cut to -0.35
percent and further bond purchases of up to 50 billion crowns.

Apr 10, 2015

Swedes face higher taxes but centre left too weak to reverse years of market reforms

STOCKHOLM, April 10 (Reuters) – Swedes face tax rises in
this month’s budget, but the coalition’s fragile hold on power
will limit scope for a more radical shift to the left and the
potential unravelling of years of market-oriented reforms.

Prime Minister Stefan Lofven in his election campaign last
year pledged sweeping change after eight years of income tax
cuts that were widely seen as undermining the country’s welfare
safety net.