Swedish telecommunications group Ericsson unveiled Friday a contract worth $8.3 billion to provide US operator Verizon with equipment for its 5G network, Ericsson’s biggest single contract ever. Ericsson also reported that its second quarter net profit had jumped by 51 percent, but noted a sharp decline in sales in China after rival Huawei was barred […]
Sweden
Major Swedish supermarket chain hit by cyberattack
One of Sweden’s biggest supermarket chains said Saturday it had to temporarily close around 800 stores nationwide after a cyberattack blocked access to its checkouts. “One of our subcontractors was hit by a digital attack, and that’s why our checkouts aren’t working any more,” Coop Sweden, which accounts for around 20 percent of the sector, […]
Major Swedish supermarket chain hit by cyberattack
One of Sweden’s biggest supermarket chains said Saturday it had to temporarily close around 800 stores nationwide after a cyberattack blocked access to its checkouts. “One of our subcontractors was hit by a digital attack, and that’s why our checkouts aren’t working any more,” Coop Sweden, which accounts for around 20 percent of the sector, […]
Sweden’s ousted PM tapped to reform government
Sweden’s parliament speaker Andreas Norlen said Thursday that he had asked ousted Prime Minister Stefan Lofven to try to once again rally enough support for a government. The move came after the leader of Sweden’s largest right-wing opposition party, Ulf Kristersson, announced earlier that he was giving up on trying to secure a majority of […]
Swedish PM resigns after losing no confidence vote
Sweden’s Prime Minister Stefan Lofven resigned on Monday, one week after he lost a vote of no confidence, leaving it up to the speaker of parliament to begin the search for a replacement. Lofven could have either called a snap election or resigned following the no-confidence vote last week. He told a press conference a […]
Resign or call elections? Big decision for Swedish PM
Swedish Prime Minister Stefan Lofven, who lost a confidence vote last week, faces a stark choice on Monday; to call snap elections or to resign and trigger the search for a successor. The Social Democrat leader — a master of consensus for some, a dull and visionless party man for others — has had seven […]
Swedish govt toppled in no-confidence vote
Sweden’s government was toppled on Monday after Stefan Lofven became the country’s first prime minister to lose a no-confidence vote, meaning he can now either resign or trigger a snap election. The motion of no confidence passed with a majority of 181 MPs in the 349-seat parliament. It was filed on Thursday by the far […]
Ikea France found guilty in employee spying scandal
A French court ruled Tuesday that Ikea had set up an elaborate system to illegally spy on hundreds of employees and job applicants over several years, using private detectives as well as police sources. The French unit of the Swedish furniture giant was fined one million euros ($1.2 million) while its former chief Jean-Louis Baillot […]
Wave of shootings in Sweden as gangs settle scores
Honour, debts, and prestige are serving as the pretext for an increasing number of deadly shootings that challenge the ideals of equality and social harmony on which modern Sweden was built. “You strengthen your own gang by eliminating an external threat and you gain prestige,” Eddy Paver, a reformed former member of a biker gang, […]
Ecolean set to invest $110 million in ecofriendly packaging
Sweden based manufacturing company Ecolean has set to launch its first ecofriendly packaging plant in Pakistan with an investment of 110 million US dollars. This was disclosed by company manager Zeeshan Asif during a briefing with a group of journalists. He said that it was the first packaging supplier in the world to review the […]