• Sweden edition
 

IKEA wins dispute in Russia

Published: 20 Dec 2004 17:40 GMT+01:00
Updated: 20 Dec 2004 17:40 GMT+01:00

Ikea was stopped from opening its shopping mall in Chimki outside Moscow last Friday supposedly due to a gas leak threat from the Ikea building. However, Ikea manager for Russia Lennart Dahlgren said the real reason was that Ikea refused to pay bribes to the local authorities.

Kamprad has appealed to President Vladimir Putin to intervene; stressing that Ikea’s investment would benefit the Russian people. Also stepping up the pressure were some 200 fashion shop owners, who signed a petition last Monday urging top Moscow officials to allow the inauguration of Ikea’s shopping mall.

Lack of investment behind high unemployment

Lack of investment is the main factor behind Sweden’s high rate of unemployment, according to the latest forecasts from the Confederation of Swedish Enterprise.

Stefan Fölster, chief economist at the Confederation, expects Swedish investments abroad in the next two years will be SKr 340 billion more than the amount of foreign investments in Sweden.

The Confederation also estimates that 100,000 persons would have had jobs until 2006 had Swedish investments been kept at the normal EU level. As things stand, the Confederation predicts that the number of registered unemployed will only decline by 16,000 persons up to 2006. This means unemployment will stay at 5 per cent.

H&M beats market forecasts

Clothing chain Hennes & Mauritz posted a 24-per cent increase in November sales year-on-year, soundly beating analyst consensus forecast of 18.9 per cent sales growth. Anna-Karin Envall, analyst at Handelsbanken Capital Markets, said the sales increase was partly an offshoot of the "Lagerfeld effect" which she estimates accounts for 5 to 6 per cent of the growth rate. H&M’s November sales figures are, however, still impressive even if stripped of the "Lagerfeld effect".

The news shored up H&M shares by 3 per cent to 224.50 crowns.

Swedish tax attracts Scottish venture capital

Venture capital company Star Capital, owned by the Royal Bank of Scotland, has bought three subsidiaries from German group Agor, and the main office of the said companies will be moved from Germany to Landskrona in Sweden. Roland Martin-Löf, senior adviser to Star Capital, tax advantages was the key reason behind the decision to set up headquarters in Sweden.

MTG demands seat in TV4’s board

If Norwegian media group Schibsted gains a seat on TV4’s board of directors then Stenbeck’s MTG must also acquire one, says MTG President and CEO Hans-Holger Albrecht. Schibsted on Tuesday rocked the boat at TV4 when it raised its stake in the TV company to 20.1 percent, thus becoming its third largest owner. MTG currently owns 15.1 per cent in TV4.

Sources: Dagens Nyheter, Svenska Dagbladet, Dagens Industri

Supplied by BECK TRANSLATIONS.

With an experienced team of in-house translators, Beck specialises in translating from Swedish into English in such areas as finance and economics, marketing and advertising, biotechnology, the environment, quality, and personnel & administration.

Paul Rapacioli (paul.rapacioli@thelocal.com)

Don't miss...X
Left Right
Today's headlines
Armed royal guards caught drunk on the job
Photo: Gunnar Lundmark/TT

Armed royal guards caught drunk on the job

Three Swedish soldiers risk prison after they were found to be drunk while guarding Stockholm's Royal Palace. The men, who were all armed at the time, were charged on Friday. READ  

Stockholm
What do the Swedes do when summer's over?
Photo: Isabela Vrba

What do the Swedes do when summer's over?

The heatwave is well and truly over, the days are getting shorter, and winter is coming. With this in mind, The Local's Isabela Vrba chatted to ten Stockholmers about how they plan to tackle the autumn. READ  

Swedes spend fortune on nail polish trend
Photo: Bertil Ericson/TT

Swedes spend fortune on nail polish trend

Swedes are spending more than ever on makeup - and a growing chunk is going directly to their fingernails, new figures showed on Friday. READ  

Sweden mulls stripping paracetamol from shops
The pharmacy section of a grocery store. Photo: Fredrik Sandberg/TT

Sweden mulls stripping paracetamol from shops

After a drastic increase in the number of paracetamol poisonings in Sweden, authorities have said the drug should only be available in pharmacies. READ  

Listeria fears prompt meat recall in Sweden
File photo: Andreas Hagerman/Flickr

Listeria fears prompt meat recall in Sweden

After finding traces of listeria in ham sold in Sweden, food companies decided on Friday to recall several Danish cold cuts. READ  

Sweden Floods
More rain expected as floods hit day four
Photo: Anders Kjellberg/TT

More rain expected as floods hit day four

UPDATED: Sweden's floods showed no signs of abating over Thursday night, with highways closed, emergency teams working overtime, and more rain on the way. READ  

Ikea opens first store in the Balkans
An Ikea city centre store in Hamburg. Photo: TT

Ikea opens first store in the Balkans

Swedish furniture giant Ikea has opened its first store in the former Yugoslavia, near Croatia's capital Zagreb. The move marks the company's first step in an expansion to the Balkans market. READ  

Elections 2014
'Sweden Democrats hold the key to elections'
Jimmie Åkesson. Photo: Bertil Ericson/TT

'Sweden Democrats hold the key to elections'

With national elections around the corner, political scientist Stig-Björn Ljunggren says there's a hive of activity behind the scenes, and that the right-wing nationalist party could end up being the key player. READ  

Swedish artist jailed for 'race hate' pictures
Police arrested Dan Park (pictured) and confiscated his art works at an exhibition opening on July 5th. Photo: Drago Prvulovic/TT

Swedish artist jailed for 'race hate' pictures

A Malmö court has sentenced Swedish street artist Dan Park to six months in jail for incitement to racial agitation and defamation. READ  

Elections 2014
Sweden elections: How do they work?
Casting a vote. Photo: Shutterstock

Sweden elections: How do they work?

National, regional, and local elections are taking place in Sweden on September 14th. Whether you're a first-time voter or a fresh armchair observer, The Local's beginners' guide will answer the key questions you were too afraid to ask. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Finest.se
Gallery
People-watching August 20th
Society
Did you know the Bronx in NYC was named after a Swede?
Politics
"Iraq reminds me of the Yugoslav wars. It's the same story."
Society
Swedes slam Danes for 'racist' art
National
Majority of Swedes favour more or just as many refugees
Blog updates

17 August

Sea Fever (Around Sweden in a kayak) »

"I’m going to keep this post short and sweet as its not something I take any pleasure in writing. After much deliberation I have made the heartbreaking decision to abandon my trip after 1200km due to reoccurring injury. It is not a decision I have made lightly and it is one that has been truly devastating..." READ »

 

17 August

St. Louis strong (Blogweiser) »

"It’s typically a bad sign when my hometown makes news in Sweden. St. Louis was in the headlines here a few years ago when a tornado struck the airport. The city also caught attention after a politician talked about ‘legitimate rape’. Now, shooting and riots this week in Ferguson, a part of St. Louis, are..." READ »

 
 
 
Society
Lock your bathrooms: Swedish toilet invader on the the loose
Politics
'Assange will not leave until safe'
Gallery
See more images from the southern Sweden floods
Sponsored Article
Find out what gives this Swedish school executive appeal
Society
Serial chicken smuggler caught at Norway border. Again.
Society
This gold coin may be the key to solving a Swedish massacre
Shutterstock
Lifestyle
The Swedish mentor (and why you may need one)
National
Food agency warns girls: 'Don't eat stinky fish'
Politics
Reinfeldt calls for tolerance to refugees
Gallery
People-watching August 16-17
National
Sweden celebrates 200 years of peace
Society
Top ten literal Swedish words
Politics
'Terror training should be illegal': Liberal Party
Gallery
Swedes talk about 200 years of national peace
Politics
Islamic extremist shakes Sweden with TV threat
National
Teacher fined for 'Hitler salute' in German class
National
Swede asks for epidural and gets disinfectant
Features
Kiruna residents talk life in a town on the move
National
Swedish dad takes kids to Israel to learn about war
Skatteverket
Sponsored Article
Introducing... ID cards and permits in Stockholm
Sponsored Article
Introducing...Your finances in Stockholm
Sponsored Article
Introducing...Housing in Stockholm
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

714
jobs available
Swedish Down Town Consulting & Productions
Swedish Down Town Consulting & Productions is an innovative business company which provides valuable assistance with the Swedish Authorities, Swedish language practice and general communications. Call 073-100 47 81 or visit:
www.swedishdowntown.com
PSD Media
PSD Media is marketing company that offers innovative solutions for online retailers. We provide modern solutions that help increase traffic and raise conversion. Visit our site at:
http://psdmedia.se