City Stockholm Financial News

Volvo Car AB said Hakan Samuelsson, who served as its chief executive officer from 2012 to 2022, will retake the helm as the Swedish carmaker tries to navigate its way out of a malaise worsened by looming US tariffs. Samuelsson will replace Jim Rowan on April 1, and serve for a two-year term as the board looks for a long-term successor, the company said in a statement on Sunday. «With fast-moving technological shifts, growing geopolitical complexity, and intensifying competition across regions, the board believes the company is best served by leadership with deep industrial experience, deep knowledge of our group, and a proven ability to execute in challenging environments,» Volvo Car said. Volvo Car is among the European carmakers vulnerable to new 25% tariffs set to be imposed by the US next week on all imported passenger vehicles and light trucks, as well as key auto parts.

Subscribe to enjoy similar stories. HONG KONG—Decades of spending increases have helped China build one of the world’s most substantial militaries, stirring fears that it could seize Taiwan or provoke a clash over territorial disputes with neighbors such as Japan or the Philippines. But the chief victim of the buildup of China’s military so far has been its own elite, as Chinese leader Xi Jinping has purged a swath of top generals accused of corruption and disloyalty.

The start of the year is a good time to make a resolution to get your finances in order, but start by setting the right goals.How you frame your resolutions is crucial to your likelihood of achieving them.People “with approach-oriented goals were significantly more successful in sustaining their New Year’s resolutions compared to those with avoidance-oriented goals,” according to one study by a professor of psychology at Stockholm University, Sweden, and others. So, come up with goals about what you want to achieve rather than something you wish to avoid.Think: I will build an emergency fund, rather than: I want to avoid a financial crunch.Another key is to start with a small step.“You can’t just randomly, on 1 January, change yourself,” said Krishna Rath, a Bhubaneshwar-based registered investment adviser with the Securities and Exchange Board of India (Sebi).

Subscribe to enjoy similar stories. Legal tech is flooded with capital, but even as money pours in, structural roadblocks persist. The sector faces the unglamorous task of making legal data machine-readable through annotation and labelling—before the automation promise can truly be realised.

Hangor-class submarine to Pakistan, strengthening their long-standing military alliance. The submarine, launched in Wuhan, China, is part of a $5 billion deal for eight such vessels, aimed at enhancing Pakistan’s naval prowess in the Arabian Sea and the Indian Ocean. Armed with cutting-edge weaponry and sensor technology, the Hangor-class submarines signify a shift in regional maritime security dynamics. This naval cooperation aligns with China’s expanding strategic influence, particularly around Pakistan’s Gwadar port in Balochistan, a linchpin of the China-Pakistan Economic Corridor (CPEC). Beijing’s support to Islamabad extends beyond submarines—Pakistan has also received advanced naval frigates, reconnaissance drones, and fighter jets from its closest ally.

Klarna Group Plc filed publicly for a US IPO in what could be one of the year’s biggest financial company listings. The Stockholm-founded digital payments company’s revenue climbed 24% last year. Klarna had net income of $21 million on revenue of $2.81 billion for 2024, compared with net loss of $244 million on revenue of $2.28 billion a year earlier, according to its filing Friday with the US Securities and Exchange Commission. Klarna filed confidentially for the initial public offering in November. Klarna is seeking to raise at least $1 billion in the IPO and is targeting a valuation of more than $15 billion in the listing, Bloomberg News reported. The company and some of its shareholders are selling shares in the offering, the filing shows.

Subscribe to enjoy similar stories. India has long been counted among the world’s top importers of arms. So, any slip in our worldwide rank grabs attention.

Subscribe to enjoy similar stories. American defense companies have increased their dominance of the global arms trade, buoyed by European nations snapping up U.S. jet fighters and missiles.

Volvo Car AB a threat to US national security? Washington appears to think it might be, and the consequences could be profound for Chinese majority-owner Zhejiang Geely Holding Group Co., as well as car buyers everywhere.

Panchayati Akhara Shri Niranjani located near the Swastik Dwar. He explains why he and many other foreigners like him have come to the Maha Kumbh.

By Michael Nitefor

India, USA and Indonesia to island nations like Tuvalu with 11,000 population. Citizen voters, in over 70 countries, millions of them first timers, attempted to address their own situations at the voting booths.

The U.S. ambassador to Vietnam says U.S. arms manufacturers could help the southeast Asian country build up its armed forces

Nobel Prize winner Geoffrey Hinton and chemistry laureate Demis Hassabis on Saturday insisted on a need for strong regulation of artificial intelligence, which played a key role in their awards. «AI is a very important technology to regulate but I think it's very important that we get the regulations right and I think that's the hard thing at the moment is it's such a fast moving technology,» Hassabis told a news conference in Stockholm. Hassabis, who jointly won with Americans David Baker and John Jumper for revealing the secrets of proteins through AI, said such evolutionary speed posed a giant challenge.

EQT AB is considering an initial public offering for Indira IVF that could raise about $400 million, according to people familiar with the matter. The Stockholm-based investment firm is working with arrangers to help prepare for an IPO in Mumbai as soon as next year, the people said, asking not to be identified because the matter is private. A share sale could value the IVF clinic operator at about $2.5 billion, they said.

Ontario Teachers’ Pension Plan (OTPP) agreed to acquire a co-control stake in Stockholm-based financial advisor Max Matthiessen from private equity firm Nordic Capital Ltd.

Subscribe to enjoy similar stories. Beginning Wednesday, Philip Wallin plans to spend roughly 90 hours on airplanes over the course of two weeks. His grueling journey involves over 20 flights and will take him across 37,000 miles and more than a dozen time zones.

Sweden’s central bank has cut its key interest rate by half a percentage point to 2.75% in what was described as the largest reduction in over a decade

As wenoted yesterday, debt capital markets (DCM) bankers at Citi in London have been afflicted by unexpected job cuts involving Colm Rainey head of corporate and financial institutions group debt capital markets for UK & Ireland, Christian Rose, an MD in Stockholm, Santhi Athreya, head of corporate DCM for France, Belgium and Luxembourg, Bruno Sáenz de Miera, head of debt capital markets for Iberia and others. 

This time last year, Citi was preparing to thin the ranks of its investment bank as part of CEO Jane Fraser'sBora Bora cuts. In the wake of those cuts, the bank restructured its debt capital markets (DCM) team in March 2024, and — among other things — made Colm Rainey head of corporate and financial institutions group debt capital markets for UK & Ireland in the process.