Risk of union action against H&M in US

The Local
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Stefan Persson, Hennes & Mauritz’s principal shareholder, is concerned over rumours of union action against the fashion chain in the United States.


The retailer has plans to open 15-20 new stores per year in the US but Persson suspects that the unions are hatching plans to prevent H&M from expanding in the country.

In a letter addressed to John Sweeney, chair of the American Federation of Labor - Congress of Industrial Organizations, AFL-CIO, Persson expresseed concerns over the rumours and said he wishes to know if they are true. Persson also proposed a system to simplify union organisation of shop employees.

AstraZeneca accused of false advertising

A US law firm has filed a lawsuit against Astra Zeneca alleging that the pharmaceutical company has deceived patients and doctors into believing that its ulcer drug Nexium is more effective than its predecessor Losec.

Astra Zeneca’s information officer Staffan Ternby says he is not particularly concerned over the lawsuit.

"Several scientific studies published in reputable magazines have shown that Nexium is superior to other acid blockers," he commented.

Lundbergs posts healthy profit

Lundbergs, the investment and property firm, has posted a pre-tax profit of 1.6 billion crowns for the first nine months of the year. Lundbergs has a share portfolio worth some 16.5 billion crowns, with the largest holding in Holmen.

Net worth per share amounted to 329 crowns per share as of 19 November, compared with 290 crowns at year-end 2003.

Fredrik Lundberg is optimistic over future trends with healthy growth in the big economies such as the USA and countries in Asia, but is hesitant to express any opinion about the fluctuating stock market.

Indiska opens in Norway

Clothing and design chain Indiska is to open three stores in Oslo, Norway in the spring of next year. The chain also has plans to open more stores in Norway next autumn.

TV 4 starts new channel

TV 4 is to close its Med I TV channel and start a new TV 400 channel as of the New Year. The broadcasting company hopes to attract young adults to the new channel.

Sources: Dagens Nyheter, Svenska Dagbladet, Dagens Industri


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