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Do you think Sweden is all about blondes, meatballs and snow? Think again.
Saab Automobile filed for bankruptcy on Monday, giving up a desperate struggle to stay in business after previous owner General Motors Co. blocked takeover attempts by Chinese investors.
The administrator in charge of Saab Automobile's reconstruction has given up his efforts to save the struggling car company, due to a lack of funds and the refusal of previous owner General Motors to agree to proposed financing deals.
Swedish appliance maker Electrolux AB plans to cut costs by around 5.1 billion kronor ($770 million) a year and review staffing levels in all regions because of a broad downturn in demand.
Simon Klemenjak does some street dance moves and throws his hands up in the air to cheer on the crowd before he starts singing to the techno beat in front of the altar in the Church of All Saints in Stockholm.
Assa Abloy AB, the world's leading lock group, said Tuesday it is collaborating with Research in Motion to include key-card technology in upcoming BlackBerry models.
Shares in Scandinavian airline group SAS AB plunged Tuesday after the company reported weaker-than-expected profit for the third quarter and said market conditions have deteriorated.
LM Ericsson and Sony Corp. announced Thursday they will go separate ways as Ericsson sells its 50 percent stake in mobile phone maker Sony Ericsson to Sony for euro1.05 billion ($1.46 billion).
Telenor's third-quarter net profit rose by 52 percent amid higher revenues, trimmed costs and a lower tax rate, the Norwegian telecommunications group said Wednesday.
Wireless equipment maker LM Ericsson AB on Thursday reported a 4 percent rise in third-quarter profit as strong mobile broadband sales and increased market share offset weaker margins.
Nordea AB, the largest bank in the Nordic region, blamed the financial turmoil in Europe for a 43 percent drop in third quarter profits.
Christopher Sims and Thomas Sargent have no simple solutions to the global economic crisis. But the work that won them the Nobel Prize in economics Monday is guiding central bankers and policymakers in their search for answers.
Three of Sweden's biggest newspapers are changing their websites to monitor instant, anonymous comments from readers — a move designed to crack down on Internet expressions of racism and hatred.
Following criticism by Greenpeace, Greenland's government on Monday decided to release Cairn Energy PLC's oil spill plan for its deepwater drilling in the Arctic.
Police stormed the Libyan Embassy in Stockholm on Thursday to arrest seven protesters who had occupied the building, torn down images of Moammar Gadhafi and threatened to commit suicide by jumping out windows.
Automaker Saab received final government approval Thursday for the $40 million sale of property that it hopes will inject enough cash into its business so it can restart production at a factory that has been idle for months.
Three Greenpeace activists on Sunday climbed up an oil rig off Greenland's coast in an attempt to stop a Scottish oil company from starting deepwater drilling in the arctic waters, the environmental group said.
Saab owner Spyker Cars NV has signed a tentative deal with Chinese company Pang Da for the distribution of Saab cars in China, a week after a similar agreement with another Chinese auto company collapsed, company officials said Monday.
Former high jump world champion Patrik Sjoberg of Sweden and two other athletes say they were sexually molested as children by prominent track coach Viljo Nousiainen.
Swedish wireless equipment maker LM Ericsson said Wednesday profits more than tripled in the first quarter, driven by continued strong demand for mobile broadband.
A small, privately owned Chinese automaker on Tuesday saved Sweden's Saab Automobile from imminent collapse through an agreement to provide $223 million (euro150 million) in funds for the ailing brand.
Mobile phone maker Sony Ericsson said Tuesday its net profit fell by 48 percent in the first quarter on weak sales, higher taxes and disruptions to its supply chain following the Japan earthquake and tsunami.
The world's military spending grew by only 1.3 percent in 2010, thanks to budget constraints caused by the global financial crisis, with the top three arms investors being the United States, China and Britain, a think-tank said Monday.
Julian Assange returns to a British court Monday to fight extradition to Sweden, where the WikiLeaks founder is wanted for questioning about alleged sex crimes.
Swedish fashion retailer Hennes & Mauritz AB on Thursday said its fourth quarter net profit dropped by 11 percent as higher prices for raw materials such as cotton cut into its earnings.
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