United Kingdom

Johannes Hellstrom

Truckmaker Volvo profit tops forecast as supply chain squeeze eases

24 Apr 2019

STOCKHOLM Truckmaker AB Volvo beat first-quarter profit forecasts on Wednesday as it sold more higher priced vehicles and margins benefited from an easing of supply chain bottlenecks for components such as engines and gear boxes.

Ericsson shares hit four-year high after profit tops forecasts for fifth quarter

17 Apr 2019

STOCKHOLM Ericsson posted a first-quarter profit on Wednesday that swept past forecasts due to strong growth in North America and cost cuts, spurring the telecom equipment maker to boost its full-year outlook for the global networks market.

Sweden's Veoneer bets driverless car delay will be its gain

15 Apr 2019

STOCKHOLM Sweden's Veoneer expects to gain from a commercial delay in self-driving cars, betting that rising demand for its radar and camera-based systems as the industry ramps up to autonomy will boost its market position.

Swedbank chairman quits over money laundering scandal

05 Apr 2019

STOCKHOLM Swedbank Chairman Lars Idermark has quit only a week after the lender's chief executive was ousted over her handling of a money laundering scandal, saying the controversy threatened to distract from his role as head of forestry group Sodra.

Swedbank report showed $10 billion 'suspicious' Baltic payments - Swedish TV

15 Mar 2019

STOCKHOLM An internal Swedbank report in September detailed "suspicious" transactions totalling around $10 billion (7.6 billion pounds) between customers of Swedbank and Danske Bank in the Baltics from 2007 to 2015, Swedish state television SVT reported.

Slowing car market puts brakes on Veoneer sales growth

13 Feb 2019

STOCKHOLM Swedish autoparts maker Veoneer forecast organic sales would not grow this year as it expects a downturn in Chinese and European car production to persist, adding any further deterioration could force it to seek additional funding.

Exclusive: Activist investor Cevian builds stake in Ireland's CRH

06 Feb 2019

STOCKHOLM Activist investor Cevian Capital has built a stake in Ireland's CRH to become the heavy materials and building products group's second-largest owner, Cevian managing partner Christer Gardell told Reuters.

Electrolux shares jump as investors cheer spin-off plan

01 Feb 2019

STOCKHOLM Electrolux shares hit an eight-month high on Friday after the home appliances maker announced plans to spin off its most profitable business to shareholders and beat earnings forecasts.

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