Swedish unemployment rises to 8 pct in August Sep 17, 2009
Major Swedish companies, such as appliance manufacturer Electrolux AB and truck makers AB Volvo and Scania AB, have announced thousands of layoffs because of declining demand in the wake of the financial crisis. Unemployment in the manufacturing industry has increased steadily since March 2009, while overall Swedish unemployment has been rising since November last year, Statistics Sweden said. (OregonLive, OR -- Business)
Whirlpool Q2 Beats Forecasts; Firms Guidance Jul 23, 2009
Last week, rival Electrolux AB (ELUX-B.SK) reported a sharp jump in second-quarter income and suggested the crucial U.S. market was showing early signs of recovery. That company, which stands second in size only to Whirlpool and has also been cutting costs, said it gained market share in North America, Latin America and Australia. (SmartMoney)
LG Electronics Posts Record Quarterly Profit on Sales of LCD Televisions Jul 22, 2009
Profit at the home-appliances division, which competes against products from and Electrolux AB, increased 76 percent to 180. 7 billion won. (Bloomberg -- Asia)
Whirlpool shares rise ahead of earnings Jul 19, 2009
Rival Electrolux AB s shares rose 19 percent for the week after beating analysts quarterly estimates. Whirlpool also said it opened a factory in China with Hisense-Kelon Electrical Holdings Co.. (Boston Globe)
* Electrolux emboldened by jump in operating profit Jul 17, 2009
Electrolux AB chief executive officer Hans Straaberg plans to start rebuilding inventories after the Swedish appliance maker grabbed market share in Europe and North America and beat profit estimates. The challenge for us right now is to find the right balance between the accelerator and the brake, Straaberg said. (Taipei Times, Taiwan -- Business)
Electrolux 2Q profit jumps six-fold Jul 16, 2009
STOCKHOLM Swedish appliance maker Electrolux AB reported Thursday that profits surged six-fold in the second quarter, despite a weak market for home appliances, thanks to cost cuts and favorable currency rates. The Stockholm-based group said net profit was 658 million kronor ($84. (Atlanta Journal-Constitution -- Business)
Catastrophic Quarter Is Averted as Job Cuts Help Profits Exceed Estimates May 1, 2009
Schaumburg, Illinois-based Motorola Inc., Stockholm-based Electrolux AB and Dearborn, Michigan-based Ford were among the companies that beat estimates even while posting losses. s loss, excluding severance and other costs, was 8 cents, compared with the average analyst estimate of 10 cents in a Bloomberg survey. (Bloomberg -- Canada)
* European stocks keep on rising to erase years loss Feb 8, 2009
European stocks gained for a second week, erasing this years loss, as companies from Vodafone Group PLC to Electrolux AB reported -better-than-estimated results and governments stepped up measures to revive the global economy. Vodafone, the largest mobile-phone company, rose 6. (Taipei Times, Taiwan -- Sports)
German Stocks Rise a Fourth Day After Infineon, BMW Ease Recession Concern Feb 7, 2009
Volvos decision to maintain a payout contrasts with Swedish companies including Electrolux AB and SEB AB, which suspended the payout to preserve cash. ThyssenKrupp AG, Germanys , gained 5. (Bloomberg -- Germany)
