H&M benefits from weaker dollar

While greatly benefiting from a weaker dollar, H&M won’t exploit the situation to raise its profitability. Instead, the retailer will allow further price cuts to take place, says H&M main owner Stefan Persson.

Household retailer Clas Ohlson’s is also benefiting. Along with the weak dollar, increased sales and high expectations on Christmas sales have spurred Clas Ohlson’s share price 25 per cent up over the recent quarter.

Mortgage rates down again

Several mortgage banks lowered their rates yesterday as the dollar continued to slide and market players doubt exactly when the Riksbank will hike the key rate. Stadshypotek, which has a third of the mortgage market, cut its five-year interest rate to its lowest level yet. SBAB, Skandiabanken and major banks SEB and Nordea also lowered their mortgage rates on Monday.

Scandals feed crisis consultants

Scandals in the business sector and labour unions are repulsive in the public eye but not for crisis management consultants who are reaping benefits from the hullabaloo. This sector, with PR agencies in the lead, are in an upswing, reported SvD.

Bure CEO to step down

Lennart Svantesson has decided to step down as CEO of Bure after pulling the venture capital company out of a crisis. “The crisis is over for Bure and the company is now entering a new phase. It is the right time to step down,” he said. Svantesson will quit his post when Bure holds its AGM in the spring.

Vattenfall gets the thumbs-down

Vattenfall received the lowest marks in the World Wildlife Fund’s ranking of company performance in terms of environment protection. WWF’s secretary general has described Vattenfall’s actions as a “scandal”.

Swedes make inroads abroad

Swede Håkan Samuelson will take over the reins of German engineering giant MAN by the turn of the year while Carnegie CEO Karin Forseke assumes a seat on the board of the UK’s financial supervisory authority – the first time a Nordic citizen has been elected into the board of the UK financial watchdog.

Posener’s book on being a fugitive

Joachim Posener, main suspect in the Trustor scandal, is coming out with a book on his life as a fugitive. TV 3 is publishing the book in time for the Christmas shopping period. Posener, Sweden’s most wanted man, remains at large.

Sources: Dagens Nyheter, Svenska Dagbladet, Dagens Industri


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