February 10, 2010

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Steelmaker SSAB to cut 1,300 jobs

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Business & Money headlines

Swedbank reports heavy losses

Swedbank has reported a bigger than expected operating loss of 1.6 billion kronor ($226.7 million) for the final quarter of 2009, yet the bank's CEO Michael Wolf sees opportunities for profits in 2010. READ (10 COMMENTS) »

SAS cuts 650 jobs

Troubled Scandinavian airline SAS has announced a new share issue to raise 5 billion kronor ($674 million), as well as a programme of cuts and savings designed to save a further 2 billion kronor. READ (26 COMMENTS) »

EU approves Sweden's Saab loan guarantee

The EU's competition watchdog has approved the Swedish government's intention to guarantee a European Investment Bank (EIB) loan to automaker Saab. READ (5 COMMENTS) »

Tide turns for Swedish bankruptcies: report

The number of Swedish firms filing for bankruptcy declined by 14 percent in January in comparison with the corresponding month in 2009. 484 companies went to the wall during the month, new statistics show. READ (1 COMMENT) »

Volvo optimistic as losses mount

Swedish truck maker Volvo says it sees signs of recovery in the global economy as it reports a net loss of 14.7 billion kronor ($1.96 billion) in 2009. READ (4 COMMENTS) »

Saab dealers: we'll help pay for Spyker deal

Swedish Saab dealers have said they are willing to stump up millions of kronor to help Dutch sportscar maker Spyker secure its purchase of Saab Automobile. READ (16 COMMENTS) »

Swedish daily slashes workforce

Dagens Nyheter, a Swedish daily newspaper, has announced that it is slashing more than 100 jobs after a year of continued losses. READ (4 COMMENTS) »

Metro finishes 2009 with a flourish

Metro International, the Swedish publisher of free newspapers, reported a strong last quarter in 2009 but recorded a loss for the full year. READ »

Scania cuts dividend as profits fall

Despite a fall in net profit for the fourth quarter, a brighter forecast put the wind in the sails of Swedish truck manufacturer Scania on the Stockholm exchange on Wednesday. READ »

Electrolux stock falls on gloomy forecast

Swedish appliances firm Electrolux reported solid 2009 profits on Wednesday. But a weak forecast pushed the company's stock into a nosedive. READ »

More Business & Money

• 02/02 Sky darkens over Spyker-Saab funding (25 comments) »
• 01/02 Swedish car sales on the rebound »
• 01/02 'Volvo production to remain in Sweden': Geely (10 comments) »
• 29/01 Dutch shareholders doubt Saab-Spyker deal (14 comments) »
• 29/01 Social Insurance Agency 'too slow': report (6 comments) »
• 28/01 AstraZeneca to axe jobs despite profit rise (2 comments) »
• 28/01 H&M to open more stores on strong 2009 profits (2 comments) »
• 27/01 Sweden bullish about prospects for growth (1 comment) »
• 27/01 Swedbank to ditch bonuses for 2009 (2 comments) »
• 26/01 Saab enters new era (64 comments) »

05 February 16:37

Stockholm garbage collectors – an overpaid relic of a bygone age? »

"There is a school of economic thought that opposes the CBA because it creates an insider-outsider workforce, raising wages for those with an over-protected job and levels of unemployment for those without. It is just one side of the argument and there are strong ones available to counter it, but a clearer example of the validity of this thesis is surely hard to find." READ »

• 27/1 11:02 Saab’s last chance saloonI sincerely hope that Spyker/Saab can prove the army of doubters wrong and become a winning combination. But if not then at least the interim period can be used to ensure that the Swedish automotive industry can prepare for life after if this newest dawn proves fleeting. READ »
• 17/12 19:26 Juletide dilemmasOur global environment demands that we skip presents altogether; our patriotic economic conscience requires us to go out and spend, spend, spend... READ »

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ALL JOBS »

• 09/02 China claims Germany's export crown »
• 09/02 Opel boss unveils plan to slash 8,300 jobs »
• 08/02 SAP shares slump amid leadership shake-up »
• 07/02 Watchdog eyes Opel state help »
• 06/02 Bonuses are back for Opel managers »
• 05/02 40 millionth Ford rolls from production line »
• 05/02 New data stokes fears of uncertain economic recovery »
• 04/02 Deutsche Bahn closes deal on British train network »
• 04/02 Deutsche Bank rebounds with strong 2009 profits »
• 03/02 Hartz IV welfare benefits considered too low »

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