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HM put brakes on hiring in Sweden

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11:48 CEST+02:00
Clothing chain Hennes and Mauritz is to put the brakes on Swedish expansion and has practically carried out a freeze in the hiring of personnel.

"Sweden is no longer a growth market for us. Given the current pace there is no need to bolster personnel in the existing shops," says former chief financial officer Carl-Henric Enhörning, now in charge of investor relations at the company.

Swedish Trade Fed assails Apoteket

The Swedish Trade Federation is critical of Apoteket (Swedish pharmacies) for exploiting its monopoly to start a new chain of stores and thereby blocking new market players. The pharmaceutical market is worth between 3 and 4 billion crowns.

Business relocation hits suppliers

One in three medium-sized companies claims to lose contracts when clients move parts or their entire business abroad. Just as many expect to lose more contracts in the coming years.

Handelsbanken on the acquisition hunt

Handelsbanken CEO Lars O Grönstedt is on the hunt for buyout objects, saying the bank won't be repurchasing own shares until it has pursued its acquisition strategy to the hilt.

Skandiabanken foresees sharply weaker GDP growth

Swedish GDP growth is expected at 2.6 per cent next year and 3.6 per cent in 2006, according to Sven-Arne Svensson of Skandiabanken in his latest forecast. His estimates are considerably lower than those of the Riksbank and the National Institute of Economic Research, both of which project Swedish GDP growth at more than 3 per cent in 2005.

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.

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