Sweden
Inside Europe’s billion-dollar wooden city
A computer-generated image showing Stockholm Wood City in Sickla, where buildings made from timber will sit alongside some of the area’s original industrial structures. Atrium Ljungberg, White Arkitekter A huge, new city is being built in Sweden, but it’s not being constructed using steel or concrete — its main building material is wood. Part of […]
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Sweden is feeling the heat from Trump tariffs — and there’s more to come
A Swedish national flag hanging from a shop in Gamla Stan in Stockholm, Sweden, on Thursday, Aug. 18, 2022. Bloomberg | Bloomberg | Getty Images Sweden’s economy and households are feeling the heat from U.S. trade tariffs, the Scandinavian country’s finance minister told CNBC — before the full force of the levies has even come […]
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Stocks making the biggest moves midday: Tesla, BioNTech, DraftKings, Steel Dynamics and more
Check out the companies making headlines in midday trading. Tesla — Shares of the electric vehicle company dropped 3% after sales in May in declined in several European markets. Reuters reported that Tesla suffered weaker sales in Sweden, France, Spain, Denmark and the Netherlands, but improved in Norway, boosted by the revamped Model Y. Advertising […]
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Baby boomers and first-time travelers are shunning Europe’s summer hotspots in favor of ‘coolcations’
Baby boomers and first-time travelers appear to be driving a so-called “coolcations” trend, shunning Europe’s peak summer hotspots in favor of cooler climes — such as the Nordic and Baltic countries. Extreme summer heat, combined with cost and overcrowding concerns, are affecting where people choose to go on vacation. For some, the appeal of booking […]
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Volvo Cars weighs tariffs-led production move, warns of ‘hyper-competitiveness’ in China
Sweden’s Volvo Cars on Thursday reported a 12% rise in full-year operating income and record revenue, but warned of severe market challenges ahead from intensifying electric vehicle competition and global tariffs. The automaker, which is majority-owned by China’s Geely Holding, said operating income came in at 22.3 billion Swedish kronor ($2.04 billion) in 2024 amid an […]
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How to ‘tariff-hedge’ your European portfolio, according to TS Lombard
As Europe faces the prospect of tariffs on its exports to the United States, TS Lombard has advised investors in the region on how to “tariff-hedge” their portfolios. U.S. President-elect Donald Trump warned ahead of his election win that he would introduce a blanket tariff of up to 20% on all imports . This week […]
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Battery giant Northvolt files for bankruptcy in major setback to Europe’s EV ambitions
Workers walk at the site of the Northvolt Ett factory in Skelleftea, north Sweden on February 23, 2022. Jonathan Nackstrand | Afp | Getty Images Swedish battery maker Northvolt filed for Chapter 11 bankruptcy protection in the U.S., delivering a blow to Europe’s electrification ambitions. Once one of Europe’s most valuable privately held tech firms, […]
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Swedish battery maker Northvolt says head of Europe’s first homegrown gigafactory to step down
Employees of the State Archaeological Office have hung pictures of finds from a construction trailer during a main archaeological investigation on the Northvolt site. Picture Alliance | Picture Alliance | Getty Images Sweden’s Northvolt on Wednesday said the head of its main plant, Europe’s first homegrown gigafactory for lithium-ion battery cells, will step down with […]
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Sweden’s Volvo says deputy CEO to step down in management reshuffle as EV demand slows
The Volvo Cars Hill Country dealership on in Austin, Texas. Brandon Bell | Getty Images News | Getty Images Swedish automaker Volvo Cars on Wednesday announced deputy CEO Björn Annwall will step down from his current role as part of a management reshuffle designed to increase simplicity and collaboration in the organization. It comes shortly […]
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No case for more jumbo rate cuts by the Fed, strategists say
A television broadcasts the Federal Reserve’s interest rate cut on the floor of the New York Stock Exchange on Sept. 18, 2024. Michael Nagle | Bloomberg | Getty Images There is no case for more 50-basis-point rate cuts by the Federal Reserve, veteran market strategists told CNBC, saying the latest U.S. jobs data implies the […]
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