The head of one of Sweden’s biggest unions has called on Sweden's government to ignore proposals to impose a profit cap on private health companies, and instead concentrate on schools and old people's homes.
Sweden's powerful blue collar trade union group LO has scrapped its quest to regulate profits for businesses operating in the welfare sector, signaling instead that it's open to negotiating a solution.
Swedish truck maker Scania reported on Wednesday a one-third plunge in net profit for 2012 and a cut in current production, but said that orders had risen in the fourth quarter.
The Social Democrats said on Friday they would not advocate for an outright ban on profits by companies working in the welfare sector, arguing instead for stronger regulations, increased transparency, and tougher demands on quality.
Swedish cheap-and-chic fashion giant H&M on Wednesday posted a net profit up 22.5 percent in the second quarter, easily beating expectations and boosting its share price.
The Swedish appliance maker Electrolux said Wednesday that its first quarter net profit jumped by 23 percent from the same period a year earlier owing to solid demand from emerging markets.
Swedish cheap-and-chic fashion giant H&M on Thursday posted a 2011 net profit down 15 percent from a year earlier amid higher cotton prices, but expressed optimism for 2012 despite the difficult economic climate.
Talks have broken down between Sweden's Financial Sector Union and an industry association over the wages and employment conditions of its 30,000 members.
Sweden's SEB bank on Tuesday posted higher-than-expected second quarter profits and said it had "turned the page" in the Baltic countries, where it had been heavily exposed to the financial crisis.
H&M announced on Thursday that its second-quarter profit increased 24 percent, but it still narrowly missed estimates due to bad weather for spring sales. It added it will meet its objective of opening 240 new stores this year.
Saab AB said its full year pretax profit rose 45 percent from a year earlier to 2.45 billion kronor ($384 million), boosted by capital gains and stronger sales.
