Swedish truck-maker Volvo stunned the market with a string of disappointing news on Friday morning. The Swedish firm posted a worse-than-expected operating loss in the first quarter and a 65% fall in new orders for trucks. It cut its outlook for its key markets of North America and Europe for 2009 and predicted a big drop in demand on both sides of the Atlantic.
Swedish clothing retailer Hennes & Mauritz AB (H&M) on Thursday launched its first store in Qianmen street, one of the oldest commercial street in China's capital city Beijing, sources reported.Ann-Sofie Johansson, head of Design, said the crowded flagship store was beyond the expectation, especially in a...
* Q1 operating loss worse than expected * Cuts outlook for key heavy-duty truck markets in 2009 * Sees Europe market more than halved this year * Volvo shares fall 5.5 percent * March European...
* Q1 operating loss worse than expected * Cuts outlook for key heavy-duty truck markets in 2009 * Sees Europe market more than halved this year * Sees North America market falling 30-40 percent *...
* Q1 operating loss worse than expected * Cuts outlook for key heavy-duty truck markets in 2009 * Sees Europe market more than halved this year * Sees North America market falling 30-40 percent STOCKHOLM,...
* Says cuts forced by sharp global decline in demand * Says job cuts to affect operations in Sweden (Adds company, analyst comment, background) STOCKHOLM, April 22 - World number two truck maker Volvo said...
* Volvo CEO says more costs cuts needed due to downturn * Coming quarters to be "really difficult" * Volvo Chairman sees no need to raise fresh capital * Renault CFO says still sees Volvo...
General Motors Co. announced in a statement November 24 that the Swedish sports car maker Koenigsegg Group AB has pulled out of deal for GM's Saab Automobile unit. GM said its board plans to determine what to do with Saab next week. "We're obviously very disappointed with the decision to pull out...
Like Saturn, the Swedish brand faces extinction after a buyer backs out of deal with GM. Could Hummer be next?
* Koenigsegg says time in closing was critical factor * GM board to consider next steps on Tuesday-source * Wind-down likely, no other Saab bidders in sight-source (Adds comment from Swedish official, background on Hummer,...