Young Swedes are experiencing higher unemployment, a greater feeling of exclusion and higher figures for ill health, when compared with other groups on the labour market, according to a new report from LO (Swedish Trade Union Confederation). The situation is worst for youngsters from poorer homes, who are born outside Sweden and live in a metropolitan area (read: poor young immigrants in Stockholm).
Concentration of newspaper ownership
A double spread in Dagens Industri this week looked at how competition among newspapers for advertising revenue is leading to greater concentration on the ownership side. It listed the ten largest newspaper owners in Sweden, starting with NWT, Stampen and Herenco, and VLT. The Liberal party and the Centre party are also among them.
Volvo IT relocates consulting jobs to India
Volvo IT, a part of VolvoGruppen, which already has 170 IT consultants in India and Poland, plans to have between 600-800 of them there within three years, mainly in India. This was disclosed by Rolf Ågren, Volvo IT’s deputy MD at DI’s Nordic Banking Forum yesterday. “Indian consultants are just as good as Sweden’s, if not better, and cost only half as much,” he says.
H&M growing at record rate
Hennes & Mauritz is expanding at a record pace. This autumn it plans to open 65 new outlets, which corresponds to one store every working day for the rest of the year. “Most of the growth will be in Germany, Great Britain, France, Spain and the USA,” says Rolf Eriksen, H&M’s MD. H&M’s y/y turnover was up by 10% for the year’s first nine months, as was its operating income.
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