Latest Sweden News
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Swedish pension fund pulls out of cluster bombs
Swedish pension fund AP7 will sell all its holdings in companies making cluster bombs and nuclear weapons. The move by AP7, one of seven state-owned pension funds in Sweden, means holdings in Airbus parent EADS and US-based Lockheed Martin Corp. and General Dynamics Corp. will be sold. AP7 manages pension savings worth around 90bn kroner (about $15bn). The move follows news in April ...
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Swedish companies avoid the red
Swedish pension companies were given favourable evaluations by The Swedish Financial Supervisory Authority, Finansinspektionen (FI), in the Q2 2007 traffic light report. No insurance companies received a red light during that period, while pension companies as a whole – including life insurance companies and occupational pension funds – showed a larger margin to the red light ...
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Swedens AP funds update
Sweden’s AP1 – one of the buffer funds assigned by the Swedish Parliament to manage the Swedish people’s pension funds – has posted strong performance figures in both absolute and relative terms for the first half of 2007. The Forsta AP-fonden, which manages assets with a value of SEK 221bn, reported a total return on net assets of 6.3%, which is equal to SEK 1.3 bn ...
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EU probes SAS airline over state aid
The European Commission opened an in-depth probe on Wednesday to see if state aid given to Scandinavian Airlines by Sweden and Denmark conformed to EU ...
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Obama says spies not trawling through emails of Europeans Merkel calls for proportional approach
(57 mins ago) US President Barack Obama said US spies were not ';rifling'' through emails of Germans, French or American citizens, as he defended the National Security Agency’s secret surveillance programmes that have come under fire after being exposed. Speaking in Berlin, Obama defended the sweeps of global phone and internet data during a visit to Germany, where they ...
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Swedish Days opens to perfect weather big crowds
Charlie Naylor (left) and Max Naylor, both 3, from Geneva, pose in their viking hats Tuesday during the Swedish Days Festival in downtown Geneva. (Michaela Simone – ...
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Swedish bond auction volumes seen unchanged after Nordea share sale
STOCKHOLM, June 19 | Wed Jun 19, 2013 6:57am EDT STOCKHOLM, June 19 (Reuters) - The Swedish Debt Office said on Wednesday government bond auction volumes would remain unchanged following the government's sale of Nordea shares. Sweden sold nearly half its remaining stake in Nordea, the region's biggest bank, raising $3.0 billion which will be used to pay down debt. The lower ...
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Jeepers creepers your shoes hurt my peepers
In The Local's new Fashion Fix column on Swedish trends, Englishwoman Victoria Hussey gets up close and personal with shoes - namely "brothel creepers" from WWII that have been making a steady return ...
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Frozen raspberries could spread vomiting bug
Imported frozen raspberries should be boiled before eaten according to new advice from Sweden's National Food Agency, which warns that the berries may carry the novo virus that is more known for causing winter vomiting ...
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HM blames long winter for profit drop
H&M posted a steeper than expected fall in quarterly profit on Wednesday, citing currency headwinds and a challenging retail climate but said June sales were "off to a good ...
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Body of lonely patient forgotten for days
The patient died soon after being admitted to the intensive care unit in late May. Hospital staff put the body in a room where friends and relatives can go to say their final goodbyes. But the patient had no relatives and staff simply forgot the body was in the room - until five days later when another deceased patient was brought in. In that period, nobody had come to say their goodbyes ...
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Currency factors weigh on retailer HMs Q2 profit
STOCKHOLM -; Swedish fashion retailer Hennes & Mauritz AB on Wednesday said profits fell by 11 percent in the second quarter due to the strong Swedish krona and increased markdowns as it tried to shift its ...
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Swedish government sells 260 million shares in bank Nordea for $3 billion
STOCKHOLM - The Swedish government says it has raised 19.5 billion Swedish kronor ($3 billion) by almost halving its stake in Nordic banking group Nordea AB. The government Wednesday said the sale, which cut its holding from 13.4 per cent to 7 per cent, will be used to reduce the Swedish state debt. The shares were sold at 75 Swedish kronor ($11.6) each. The deal is in line with the ...
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Swedish Think Tank Sees Economic Recovery Starting Later This Year
By Charles Duxbury STOCKHOLM--Growth in the Swedish economy will pick up towards the end of this year amid a rise in domestic demand, particularly from households, Swedish think tank the National Institute of Economic Research said Wednesday. Economic output will increase by 1.5% this year and 2.5% next year, the NIER said in a report. That is more than the 1.3% and 2.3% it forecast in ...
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Conservative students disrupt bus strike
Stockholm bus traffic was at a standstill Wednesday as drivers and other staff launched a major strike at midnight, but a group of Conservative youths disrupted the action by replacing a bus route between two of the ...
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Tax bill for politicians ties to far-right site
Sweden Democrat MP Kent Ekeroth has to pay tax for money sent to his bank account as donations to two far-right websites that he claims to have nothing to do with ...
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Sweden to send 160 troops in Mali mission
Deputies adopted a proposal from the centre-right government, which said that in "normal circumstances" the Swedish contingent would be around 70. The Swedish military will also provide materiel to the UN mission. "Armed extremist groups and criminal groups have since the beginning of 2012 committed extensive acts of cruelty which have caused great human suffering in ...
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Strong Krona Weighs on Profit at HM
STOCKHOLM ...
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Emirates prepares for Stockholm launch
Emirates airline is stepping up its preparations for the launch of its Stockholm service - a move set to boost its presence in Northern Europe. Emirates gave the local Swedish travel trade and media a preview of the airline's award winning ...
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Sweden May Unemployment 417000
The following is a press release from Statistiska Centralbyran, or SCB, the Sweden central government authority for official statistics. STOCKHOLM--In May 2013 the number of employed persons aged 15-74 amounted to 4.67 million (34,000). Compared to May 2012, this is an increase of 51,000 persons. The employment rate was 65.3 ( 0.5)%. The number of employed women increased by 34,000 and ...
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Swedish Consumer Confidence Rises on Brighter Outlook for Economy
By Charles Duxbury STOCKHOLM--Swedish consumer and manufacturing confidence rose slightly in June amid a more upbeat outlook for the economy. The National Institute of Economic Research's consumer confidence indicator, or CCI, rose to 98.2 in June from 97.7 in May. "Consumers' assessment of the Swedish economy, both at present and 12 months ahead, was less negative than in ...
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HM Q2 Profit Falls Amid Stronger Krona Bad Weather
HEN.L ) Wednesday said profit in the second quarter declined from the prior year, hurt by negative currency impact and unfavourable weather. CEO Karl-Johan Persson said, ''This quarter has been marked by substantial negative currency translation effects, which have had a negative impact on both sales and profits in SEK.''Profit after tax fell to 4.66 billion Swedish kronor ...
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Top ten ways you know youve turned Swedish
For some foreigners living in Sweden, a natural "inner Swede" can develop that often doesn't show its face until you're back home again. The Local's Irishman Patrick Reilly lists the top ten ways this inner Swede can change your ...
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Extreme-right sites beat political party pages
The seven most popular far-right websites attract a total of 145,000 unique visitors a day, according to the report, which was prepared by the government-run Swedish Media Council and handed to the government on Tuesday. "I'm surprised to find out that (the sites) have seven times more visitors than the total of all parties in parliament," Ulf Dahlquist, the council's ...
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Sweden to sell risky 5.7-percent stake in Nordea
The sale of 230 million shares, worth 18.1 billion kronor ($2.8 billion) at Tuesday's market close in Stockholm, will take place on Wednesday. "The state's role is to regulate the banks, not to own them. Banking shares are risky assets," Minister for Financial ...
Sweden Feature
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Sweden remains committed to green goals
Sweden wants its national electricity grid to be entirely free of oil dependence by 2025 and recent developments in the offshore wind energy sector seem to be a step in the right direction.
Sweden is a country with a strong commitment to renewable energy and environmental sustainability. The national capital, Stockholm, despite being the largest city in the country and home to almost a quarter of the population, is one of the cleanest of all European capitals. Read more
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