Economy of Sweden

The Swedish economy contracted more than expected in the second quarter as exports from the Nordic country fell, official statistics showed on July 28.

Sweden's economy shrank by 1.5 percent in the April-to-June period compared to the same quarter last year, according to Statistics Sweden's preliminary data.

Analysts had expected a drop of 0.5 percent, according to Bloomberg.

Sweden cited national security reasons

Swedish low-cost fashion brand Hennes & Mauritz AB said yesterday that its net sales in local currencies have increased by 8 percent in the fourth quarter of 2021 to 56 billion kronor ($6 billion) back at pre-pandemic level with the full year net sales increasing by 6 percent to 199 billion kronor ($21 billion).

H&M, the world's second-biggest fashion retailer, said on Monday it was evaluating all its activities and temporarily closing stores in 12 more markets due to the coronavirus as it reported a 24 percent quarterly sales slump in China.

At the moment when Austrian writer Peter Handke received the 2019 Nobel Prize in Literature in Stockholm yesterday, his opponents protested sharply. In a sea of tumultuous reactions challenging the decision of the Nobel Committee, the gesture of a certain Swedish physician, Christina Doctare, stood out.

The Swedish owner of Electrolux Satu Mare threatens, through the voice of the workers who did not join the strike, to relocate its production to Poland, informs a release issued by president of the "Cartel ALFA" National Trade Union Confederation Bogdan Hossu on Friday. The reaction of the union leader comes after 100 non-striking employees sent an open letter to their striking fellows.

Prva TV learned unofficially that an explosive device was placed under a Volvo, that was parked at the time of the accident.

A number of other cars in the parking lot have also been damaged.

(Photo by Jelena Nikolic, Prva TV)

This week, Volvo is adding itself to the list of many truck manufacturers working on electric trucks.

The Swedish group says that it will bring the electric trucks to the road as soon as this year and start selling them next year.

Claes Nilsson, President Volvo Trucks, commented on the announcement:

Swedish clothing giant Hennes & Mauritz said on Dec. 15 that its sales fell below expectations in the fourth quarter and it would close more stores as customers increasingly prefer to shop online.

At the CES Asia show in Shanghai last week, NEVS, the Chinese successor to Saab, unveiled its InMotion autonomous people-moving pod that embodies its vision for urban transport of the future. Looking very much like a horizontal self-service elevator, InMotion offers users a high degree of customization to make their journey as connected and pleasant as possible.