Sweden Financial News

European shares opened muted on Friday, after the European Central Bank's latest rate cut and upbeat earnings prompted strong gains in the previous session, with the main stocks gauge headed for a second weekly rise. The Europe-wide STOXX 600 index was down 0.05% at 0718 GMT, with real estate firms leading losses down 0.6%, while basic resources and autos helped to keep it afloat.

Nokia’s India sales fell for the fourth straight quarter, in line with what rival Ericsson reported a few days ago for the three months through September 30. This, as their big telecom clients, Reliance Jio and Bharti Airtel, continued to cut down on network capital expenditure. Industry executives and analysts expect Finland’s Nokia and Sweden’s Ericsson to rely more in the near term on their latest contracts to supply 4G and 5G equipment to Vodafone Idea (Vi) to boost India sales and support global growth.

Wireless and fixed-network equipment maker Nokia has reported better-than-expected third quarter earnings, mainly on the back of cost cutting measures, but saw its sales dive 8% largely due to a weaker India market

Subscribe to enjoy similar stories. Singapore's Temasek Holdings Pte. Ltd has signed an agreement to buy 17-18% in Blackstone Inc.-backed VFS Global Services Pvt.

The U.S. retirement system doesn't get high marks relative to other nations.

Subscribe to enjoy similar stories. International travel has quickly become a top aspiration for many Indians, and exploring the world’s diverse cultures and landscapes is more popular than ever. Though daunting expenses still hold many back, careful planning and smart budgeting can make the dream a reality.

Kylian Mbappe has found himself in a massive controversy after a Swedish newspaper Aftonbladet reported that he has been accused of rape, and that the cops are currently investigating him. Mbappe has reacted strongly to these allegations and called the report a 'fake news'.

The Slovak government and Hyundai Mobis have signed a memorandum of understanding on the South Korean company’s plan to build a plant for engines and other parts for electric cars in Slovakia

Reliance Retail, as it now features on the catalogue of its fashion e-tail platform AJIO. Earlier, Timberland had to close its retail stores across India in 2015 due to stiff competition in the local market and conflict with a similar local brand Woodland. The Timberland Company, a subsidiary of US-based VF Corporation, and Woodland, which also has a tree logo, were engaged in litigation over intellectual property, as the two have identical logos and products. On Monday, in its earnings statement, Reliance Industries said: «AJIO has been strengthening its portfolio through new brand launches like ASOS, H&M, Timberland, to name a few».

The Nobel memorial prize in economics has been awarded to Daron Acemoglu, Simon Johnson and James A

The Royal Swedish Academy of Sciences has awarded the Nobel Prize in chemistry to David Baker, Demis Hassabis and John Jumper for their work with proteins

Subscribe to enjoy similar stories. Matilda Djerf, a Swedish influencer with 3 million followers on Instagram, is known for her polished, feminine style and perfectly bouncy blonde blowout. Her expansive closet, packed with oversized suits, trench coats and dresses has inspired a legion of fans known as “Matilda minions." However, Djerf is just as likely to go to work or meet a friend in a pair of simple drawstring pants.

Two pioneers of artificial intelligence have won the Nobel Prize in physics

Subscribe to enjoy similar stories. Thyssenkrupp said it was reviewing plans to wean its steelmaking operations off fossil fuels due to high costs, making it the latest company to rethink energy-transition pledges. The assessment comes as the steel business of the German industrial group undergoes a broader review of its business plan.

Subscribe to enjoy similar stories. Europe’s great hope for battery independence is fighting for survival after the company said it was cutting 1,600 jobs and curtailing expansion plans. Northvolt was the darling of the European cleantech industry, attracting billions in funding from the world’s biggest automakers, banks and governments.

A European technology talent brain drain is the biggest risk factor facing Klarna as the Swedish payments company gets closer to its upcoming initial public offering, according to CEO Sebastian Siemiatkowski.

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Britain’s last coal-fired power plant is closing

Northvolt AB was supposed to power Europe’s response to the likes of Tesla Inc. and China’s fast-growing electric vehicle makers. Instead, the Swedish battery company is fighting to stay afloat. As it faces a crushing liquidity crunch, the company’s creditors will meet Friday to decide on freeing up funds critical to its survival. On Thursday, Harald Mix, Northvolt’s founder and owner of a 7.2% stake, said he plans to provide new capital to the company, pointing to the “important role” it plays in European competitiveness. Burning cash as it struggles to deliver the batteries it promised customers, Northvolt this week said it’s shedding a fifth of its global staff and suspending the expansion of its main factory in northern Sweden. With Europe’s battery boom turning to bust, more pain may be in the offing.

Swedish firm Klarna is partnering up with Dutch payments fintech Adyen to bring its popular buy now, pay later service into physical retail stores.

Last month, echoing a U.S. announcement three months earlier, the federal Liberals announced a 100 per cent tariff on the import of Chinese electric vehicles (EVs). China wasted no time striking back where it would hurt most, launching an anti-dumping investigation into Canadian canola exports. While there’s no evidence of dumping, there’s a very high likelihood the move is a procedural pretext to halting canola imports. China has long been the biggest canola buyer and was expected to purchase 70 per cent of this year’s bumper crop.