Europe Top News and Analysis Sweden

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    Saab Automobile may be just another crisis-ridden car company in an industry full of them. But just as the fortunes of Flint, Mich., are permanently entangled with General Motors, so it is impossible to find anyone in this city in southwest Sweden who is not somehow connected to Saab.

  • Sweden's government says it is ready to inject 50 billion kronor ($6 billion) into the nation's banks in a fresh bailout initiative designed to boost lending to Swedish companies hurt by the credit crunch.

  • Treasury Seal

    Officials in Washington try to figure out how to shore up banks that once ruled the financial world but now seem to weaken by the day, despite receiving hundreds of billions in aid.

  • Ericsson posted stronger-than-expect ed third-quarter earnings on Monday, benefiting from heavy network traffic and emerging unscathed from the financial turmoil roiling world markets.

  • Countries across Europe have moved to reassure banking customers by guaranteeing deposits. Fear of runs on banks prompted some account holders to take their money overseas to foreign banks, protected by government pledges, or simply opt for the relative safety of keeping funds out of institutions.» »

    European finance ministers moved to reassure banking customers by agreeing to raise bank-deposit guarantees to 50,000 euros ($67,930), from the current level of 20,000 euros.

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    When it comes to budget busting financial bailouts, the U.S. could take a lesson from Sweden, reports the New York Times.

  • Swedish fashion giant Hennes & Mauritz posted better-than-expected sales figures for July on Friday, defying an economic slowdown, as cost-conscious shoppers appeared to favor its moderately priced clothes.

  • Drugmaker AstraZeneca, enjoying a favorable tailwind from currencies, lifted its full-year earnings forecast on Thursday as second-quarter results came in ahead of expectations.

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    World No. 2 home appliances maker Electrolux warned on Thursday that full-year earnings will fall more than previously forecast due to weaker demand, sending its shares down more than 5 percent.

  • The world's number one bearings maker, Swedish SKF, is speeding up plans to close down a factory in Kentucky, moving production to Mexico as the financial markets turmoil has hit hard the automotive industry, SKF CFO Tore Bertilsson told CNBC.com on Tuesday.

  • H&M

    Hennes & Mauritz posted second-quarter pretax profit that beat forecasts and sent its shares higher, as a sunny May helped boost sales and a weak dollar lowered purchasing costs.

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    France Telecom proposed a $41 billion bid for TeliaSonera to create the world's third largest broadband operator and the number-four in mobiles, but the Nordic company rejected the offer.

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    Some big companies report tomorrow that will give more clarity on the health of advertising and technology spending, and the health of the European jobs market

  • Mobile phone maker Sony Ericsson posted sharply lower profits on Wednesday as a slowdown in consumer spending hit its business, but earnings were at the high end of the firm's range and exceeded market expectations.

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    France's Pernod Ricard won a hotly contested auction on Monday to buy the maker of Sweden's Absolut vodka for 5.63 billion euro ($8.87 billion), beating favourite Jim Beam bourbon-maker Fortune Brands.

  • Sweden's Handelsbanken said on Monday it had decided to close down its proprietary trading in foreign exchange and fixed income in New York and sold off a large part of its exposure to U.S. asset-backed securities.

  • Swedish fashion company Hennes & Mauritz bucked a gloomy economic backdrop and boosted its shares with a near 20 percent jump in first-quarter profit, above forecasts and fired by strong February sales.

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    Swedish fashion giant Hennes & Mauritz reported on Friday a 3 percent rise in January sales at stores open more than a year, lagging market expectations.

  • TeliaSonera reported unexpectedly weak earnings on Friday and said it planned to cut 2,900 Nordic staff as part of an efficiency drive to reach a promised 5 billion Swedish crown ($775 million) savings target.

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    Electrolux, the world's second-biggest home appliances maker, reported quarterly earnings above market expectations on Wednesday and forecast 2008 core income in line with 2007, sending its shares up.