South Korean president says announcement of free trade deal with EU likely imminentSEOUL, South Korea — South Korea and the European Union are ready to announce the conclusion of their free trade talks, President Lee Myung-bak said ahead of a meeting Monday with Sweden, the current chair of the rotating EU presidency. Sweden’s leading papers plan photo boycott of Britney Spears showSTOCKHOLM — Four major Swedish newspapers have threatened to boycott a Britney Spears concert in Stockholm because of restrictions imposed on their photographers. Sweden to extradite Rwanda genocide suspect; to stand trial at homeSTOCKHOLM — Sweden will extradite a man accused of taking part in mass slaughter in Rwanda to his homeland, marking the first time an EU nation has sent back a suspect to face charges in the 1994 genocide, officials said Thursday. Swedish founder of Ikea says furniture retailer must cut more jobsSTOCKHOLM — Swedish flat-pack giant Ikea must cut more jobs than previously announced as the financial crisis continues to weigh on demand for its furniture, founder Ingvar Kamprad said Tuesday. EU urges Iran to release British Embassy staff, considers pulling ambassadors in protestSTOCKHOLM — The European Union demanded on Thursday that Iran release all detained British Embassy staff amid disagreement over how many there were and discussion of a British proposal for the bloc to jointly withdraw all 27 of its ambassadors from the country. EU presidency: new climate change pact hinges on China, India doing their partSTOCKHOLM — The chances of concluding a new global climate change pact remain dim unless China, India and Brazil make significant cuts in carbon dioxide emissions as well a senior Swedish climate change official said Thursday. ECB holds steady, keeps its benchmark interest rate at 1 percentLUXEMBOURG — The European Central Bank left its benchmark interest rate unchanged at 1 percent Thursday, preferring to wait and see if its “spectacular” infusion of credit into the banking system will loosen lending to consumers and businesses in the euro zone’s struggling economy. Swedish central bank cuts key interest rate by a quarter point to record low of 0.25 percentSTOCKHOLM — Sweden’s central bank on Thursday surprised markets by cutting its key interest rate by a quarter of a percentage point to 0.25 percent, saying the economic downturn appears to be deeper than previously forecast. EU considers pulling ambassadors from Iran over detention of British Embassy staffSTOCKHOLM — The European Union on Thursday was considering Britain’s request to pull the bloc’s ambassadors from Iran, an extraordinary move that would send a powerful signal of EU unity in the wake of Tehran’s postelection crackdown. Cleric’s call for executing some protesters signals harsh new turn in IranEDITOR’S NOTE: Iranian authorities have barred journalists for international news organizations from reporting on the streets and ordered them to stay in their offices. This report is based on the accounts of witnesses reached in Iran and official statements carried on Iranian media. Rock-throwing demonstrators break into Iranian Embassy in SwedenSTOCKHOLM — Angry demonstrators broke into the Iranian Embassy outside Stockholm on Friday, climbing in through shattered windows and injuring one embassy worker, police said. Stone-throwing demonstrators attack Iranian Embassy in SwedenSTOCKHOLM — Demonstrators attacked the Iranian Embassy outside the Swedish capital Friday, throwing stones and trying to force themselves in, police said. Swedish broadcaster reports attack on Iranian EmbassySTOCKHOLM — Swedish broadcaster SVT says the Iranian Embassy outside Stockholm is being attacked by demonstrators. H&M 2Q profit rises 6.4 percent, helped by new store openings and weaker Swedish kronaSTOCKHOLM, Sweden — Swedish fashion chain Hennes & Mauritz on Thursday said net profit in its latest fiscal quarter rose 6.4 percent, helped by new store openings and a weaker Swedish krona. Ericsson names former financial chief as new CEO as Svanberg becomes BP chairmanSTOCKHOLM — Swedish wireless equipment company L.M. Ericsson on Thursday said its financial chief Hans Vestberg will become the new CEO when Carl-Henric Svanberg moves to head the board of BP Group PLC. Iranians hold demonstrations in European cities to protest Iran’s election resultPARIS — Iranians demonstrated in capitals around Europe on Thursday to protest the disputed Iranian presidential election and the regime’s treatment of its critics. 2 protests in France against Iranian election; more planned in other European nationsPARIS — Iranians in capitals around Europe demonstrated to Thursday protest the disputed Iranian presidential election and the regime’s treatment of its critics. The Pirate Bay helps Iranian election critics bypass government censorship on the InternetSTOCKHOLM — Popular file-sharing site The Pirate Bay said Wednesday it has helped launch an Internet network in support of Iranian election critics allowing users to dodge the regime’s censorship rules by surfing anonymously. Saab’s creditors accept write-down of $1 bln debt after news about new ownerSTOCKHOLM — GM unit Saab’s creditors on Wednesday approved the write-down of 8.1 billion kronor ($1 billion) of the Swedish car maker’s debt as part of the company’s reconstruction. GM inks deal to sell Swedish Saab unit to investors, analysts say rough road lies aheadDETROIT — For the new owners of Saab Automobile to make money selling small numbers of cars across the globe, they have to return to the Swedish automaker’s roots, industry analysts say. GM signs deal to sell Swedish unit Saab to super car maker KoenigseggSTOCKHOLM — Saab Automobile, General Motors Corp.’s struggling Swedish unit known for its family cars, was rescued Tuesday by a consortium led by Koenigsegg Automotive AB, a tiny company that produces only a dozen custom-made super cars a year. GM signs deal to sell Swedish unit Saab to luxury sports carmaker KoenigseggSTOCKHOLM — Saab Automobile, General Motors Corp.’s struggling Swedish unit known for its family cars, was rescued Tuesday by a consortium led by Koenigsegg Automotive AB, a tiny luxury carmaker which produces only a dozen custom-made models a year. GM signs deal to sell Swedish Saab unit to luxury sports carmaker KoenigseggSTOCKHOLM — General Motors Corp. on Tuesday said it has signed a deal to sell its Saab unit to a consortium led by Swedish luxury sports carmaker Koenigsegg Automotive AB. GM says purchasing chief Andersson leaving immediately to pursue other career opportunitiesDETROIT — General Motors Corp.’s top purchasing executive abruptly stepped down Friday to pursue what the company said were other career opportunities. GM’s Saab says talks ‘on track’ to find new owner; reports say Swedish Koenigsegg plans to buySTOCKHOLM — General Motors Corp.’s Saab unit said a deal to find a new owner was “just around the corner” but added that nothing has been finalized and didn’t name any potential buyers. Ikea postpones entry into Indian market after talks with government break downSTOCKHOLM — Swedish furniture retailer Ikea Thursday said it has postponed plans to enter the Indian market after talks with the Indian government broke down. AP source: Chinese auto company considering bid for Ford’s Volvo unitDETROIT — A person briefed on the matter said Wednesday that a Chinese automaker is considering buying Ford Motor Co.’s Volvo unit. Nervous neighbors brace for fallout from Latvian crisisVILNIUS, Lithuania — As Latvia fights speculation about default and painful currency devaluation, its neighbors are nervous that the tiny Baltic country’s problems could spread well beyond its borders. Watchdog: Swedish banks can handle turmoil in Baltics, including credit losses up to $19.3 blnSTOCKHOLM — The Swedish financial supervisory authority on Wednesday said the country’s four largest banks have enough capital to weather a severe financial collapse in the Baltics, including a devaluation of the Latvian currency. Mixed April performance for Europe’s manufacturers; Britain’s poised for growth againLONDON — A sharp increase in car production helped Britain’s industrial sector grow again in April, though manufacturers in France and Sweden continued to reel from the slump in global trade, official figures showed Wednesday. |
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