Saturday, April 30, 2016

Assistant winners in the new agreement – Swedish Dagbladet

Photo: Leif R Jansson / TT

a new three-year collective agreement is clear to almost half a million municipal workers.

– Municipal has today signed a historic agreement for equal salaries, said the Municipal Chairman Annelie Nordström at a press conference together with the employers’ association Sweden Municipalities and Regions (SKL).

the agreement that all MWU members get 520 crowns a month more. On top of that get nurses with graduate SEK 500 extra on average – which is more than the 400 that the union demanded.

– We have well been good negotiators simply says Kommunal agreement Secretary Lenita Granlund.

SKL bought it with among other grounds that the contract was long, unlike much of the rest of the labor market.

– from SKL’s side, we are very pleased to we get a three-year contract and can have a long-term planning out in municipalities and counties, says Helene Fritzon, Chairman of SKL’s negotiating team.

in addition, the Municipal paid with the starting salaries only increases by 80 percent of the general salary increase, both year one and two of the three year agreement.

Employers calculate the cost of the entire agreement in 2016 to three per cent, compared with the mark on the rest of the labor market of 2.2 percent.

– It allows our members to actually pay, says Fritzon.

But while nurses are the winners get the rest of the community content with an average of 520 crowns the salary increase.

– we now begin with the nurses, the other, we come back to then, says Lenita Granlund.

the union has also got tougher language on the right to full-time. Employers will continue to refer to operational reasons, “not quite so easy to get away anymore,” according Annelie Nordström.

It’s about a five-year work, much of which will take place locally in the business to all who wants to have a full-time job. 2021 should be the goal.

– Then full-time to be the norm, says Granlund.

According SKL has very already happened, over 30 000 more full-time jobs has been created in recent years.


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Friday, April 29, 2016

Talentum Sweden CEO ends – medievä

Aarne Aktan down as CEO of the media house’s Swedish operations with immediate effect.

Aarne Aktan had planned to leave his post as CEO of Talentum Sweden at mid-year, but are now choosing to go aside today. In step instead Juha-Petri Loimovuori, CEO of Alma Media, which recently bought Talentum, the Dagens Media.

The media world has earlier reported of the large austerity package that will make Talentum save SEK 15 million. To achieve this, the number of journalists miskas by 40 percent. Meanwhile, four editors become one.

In a statement from the Journalist Club of the Talentum Sweden members voicing concerns over the proposed cuts and the management’s desire to outsource four of titles of digital publications. Club writes that:

“We are particularly concerned about the employer’s proposal for outsourcing of digital publishing. Removing web editors from as specific titles as New Technology, Business World, Occupational Safety and Law & amp; Agreements and replace them with a joint team from an outside staffing agencies seem ill on the verge of self-destructive. If digital publishing is the future, it is obvious that we have to take it yourself. “

Next week, a wage-earner initiate a review of the employer’s savings proposals, says Dagens Media.


Increased loss of NCC – Swedish Dagbladet

NCC reports a operating loss of 284 million kronor the first quarter of 2016. that compares with a loss of 235 million the corresponding period in 2015. and it usually seasonally become red numbers during the winter, when revenues are lower, but the cost is made up.

the construction market is hot, it is built for full and housing shortage is acute.

– It’s very good market conditions, says Wågström about the situation in the Swedish construction market.

Though the NCC appeared both sales, to 9 SEK 197 million, compared to 10.311 billion kronor a year earlier, as new orders, to 10.146 billion kronor, compared to 11 120 MSEK the first quarter of 2015.

– But we are better than a year then, says Wågström.

share pros thought , however, that it was well weak figures, the share fell by nearly four percent.


SkiStar is investing in Austria – Sveriges Radio

Shortly ski resort company Skistar to pay a rights issue proceeds of EUR 10 million and thus own 68% stake in the Austrian company.

– We can now supplement our Scandinavian destinations with a European ski resort. We also get an opportunity to profile the St. Johann as a SkiStar destination with a focus on family ski experience to a European audience.

It says Skistars CEO Mats Årjes a comment.


Billionaire sell their Apple shares – 99mac

The investor and billionaire Carl Icahn has sold its entire holdings of Apple shares, on because of the uncertain situation in China.

Billionaire Carl Icahn took at the end of last year, 45.8 million shares shares in Apple, and has repeatedly described the company as a given investment. In an interview with CNBC Icahn now announces that he sold all his holdings in Apple, reports Reuters.

The reason is said to be concern about the situation in China, which is one of Apple’s most important markets. The country’s slow growth along with political control in China has received Icahn to think about. He says:

– Tim Cook has done a very good job. I called him this morning and told him, and he was obviously a bit sad. I told him that [Apple] is a fantastic company.

Earlier this month turned China into Apple’s digital stores iBooks Store, and iTunes Movies.




                  2016-04-29 14:04

STOCKHOLM (AFX) The American oil company Exxon Mobil reported a profit per share of 0:43 dollars for the first quarter in 2016.

Analysts’ expectations were a score of 0:29 cents per share, according to Bloomberg News forecast average.

the oil company says that the plan to reduce investment goes according to plan during the first quarter decreased investment and exploration spending by 33 percent to 5.1 billion dollar.

editorial Exchange +46 8 5191 7910,

AstraZeneca profit slightly below expectations – Swedish Dagbladet

photo: Fredrik Sandberg / TT

AstraZeneca show higher revenues than väntant for the first quarter of 2016. the figure landed at $ 6.115 billion. Analysts’ average forecast was here sales of $ 5.952 billion.

The pharmaceutical company reported earnings per share Core (Core) at 0.95 dollars in the first quarter of 2016, it is clear from the interim report.

There was something worse than analysts’ expectations of an average of 0:96 per share, according to SME Direkt survey.

reported operating profit was $ 1.038 billion, which was better-than-expected 869 million. Operating margin landed at 17 percent, more than expected 14.6 percent.

The company reported non-recurring items of -555 million, better than expected -741 million.

Brilinta, which belongs , one of Astra’s growth platforms, reported sales of $ 181 million, compared to the expected 184 million.


Thursday, April 28, 2016

Comment: Fin future for Fingerprint – Private Businesses

As Private Trades concluded on Monday there were high expectations on figures from the first quarter of Fingerprint. That it would be the best quarter so far was already clear, but an important question was whether the previously laid revenue estimate for the year of 7.0-8.5 billion would be retained.

Our starting point was that it would not be no change, and so it was. But Lantto should have plus that he still tightened to the forecast, in that it now also comes at a dollar exchange rate of 8.30. It is in itself a higher rate than today, but still means that the question marks straightened out.

First, however, went the course down over 7 percent as both revenue and earnings were well below the market’s average expectations. A slightly less profitable price mix of supplied sensors behind plus a currency effect, which in itself is a useful reminder that the fingerprint does not live any life in the business world without affected the same way as other businesses.

However, price rebounded after hours trading on Thursday morning when the market instead focused on what the report says about the prospects. And there’s no getting away from that Fingerprint delivers strong forecasts in words – this time for the years beyond in 2016.

Lantto who made his name as careful and do not want to be caught with that promise too much now mean that sight Fingerprints position is now stronger than before. It is the report’s main spirit along with the company in the first quarter increased the pace of their smart card solutions, vehicles and the Internet of Things will be major revenue generators in the future alongside smartphones and tablets.

According to the news agency Direkt calculates broker Arctic Securities to raise their estimates for the report – this also means an increase in the target price of 850 SEK, we will see.

Next will be the General Meeting of Fingerprint on Wednesday may 4 Gothenburg. After the course the rush last year, plus good prospects learn the mood at the least be uplifting.


Electrolux jacket expectations – Dagens Industri

Updated 2016-04-28 09:50. Published 2016-04-28 08:07

Jonas Samuelson took over the CEO post January 11 when Keith McLoughlin, Electrolux left after unsuccessful purchase of GE Appliances. The first report as the new CEO delivered may be classified as strong.

Organic growth went from minus 0.5 to 1.8 percent compared with the corresponding quarter last year. Operating profit landed at 1.3 billion, up from 516 million kronor. This despite the headwind from currencies that negatively impacted earnings by 5.2 percent.

Electrolux raises also , its market forecast for North America in 2016 . Now the company believes that demand growth lands at between 4 and 5 percent in 2016. Previously, the forecast range of 3-4 per cent, writes news agency Direkt.

business area Major Appliances North America turned a minus the result of over half a billion plus in the first quarter in 2016.

Electrolux writes in report to see organic sales growth in the business areas Appliances EMEA, Appliances North America and Professional Products.

In Latin America go however, the poorer and most importantly, it is Brazil that the market turned downward. Jonas Samuelson writes in the Managing Director that it expects demand in Latin America, and especially Brazil, will remain weak over in 2016.


LKAB’s profit halved: “Challenging position” – Swedish Dagbladet

photo: Fredrik Sandberg / TT

turnover fell to 3.768 billion kronor, against 4.177 billion kronor a year earlier.

the recent upturn iron ore prices are expected to LKAB’s chief executive to be temporary, since it is still an expected oversupply of iron ore products.

“Location is still challenging for LKAB and efforts to introduce a new corporate structure in order to adapt the company to the market conditions and bring out the responsibilities detailed production currently underway, “writes LKAB in the interim report.

LKAB intends during the second quarter submit a detailed action plan to reduce costs by 800 million on an annualized basis from the second quarter of 2017.


SKL needed tax increases of 45 billion – Sveriges Radio

Bettina Kashefi, chief economist at SKL, says it will require tax increases of 45 billion to cover the increased costs.

– What we see very clearly in our calculations, we have an emergency the situation in 2018, if nothing else happens and it continues even during the 2019th

What is it that makes the greatest importance for the country’s municipalities and county councils when it comes to the economy?

– It is very important to continue to work with efficiency. Then there is a central aspect of getting people into work as quickly as possible. The most important thing a municipality and a county council have the tax base that generates by far the most important revenue of the business.

Will there be tax increases?

– Somehow we cover the funding gap that exists, says Bettina Kashefi.

the next few years will local governments to cope thanks to the Swedish economy has high growth but then it becomes a problem if not taxes raised. The SKL writes in his report.

Another explanation is that a larger portion of the costs of the new arrivals who have come in recent times then falls on the municipalities.

A minus in SKL calculations is that they do not take into account that the Migration Board yesterday cut its forecast of how many asylum seekers are expected this year with about 40 000 people.

But based on the old figures SKL believe that it will require tax increases of 45 billion by 2019, corresponding to almost two per hundred served.

– somehow, we have to cover the funding gap we look forward, says Kashefi.

the costs of municipalities is expected according SKL increase by nine percent this year, partly because it requires expensive workarounds to care for newcomers.

in the future will also increase the cost of housing, education and care. Although the county councils expect cost increases of around five percent in 2016.

Bettina Kashefi at SKL hope that the increased immigration to be a winning ticket for local governments in the long term.

we have a large supply of workers in health care, education and care, and we have a recruitment problem and we will do this well and we see that people are matched to the available jobs in a fast and efficient way can this be a real win-win situation.




                  2016-04-28 11:08

STOCKHOLM (AFX) Behind SKF’s forecast of a sequential slightly higher demand in the second quarter of this year compared to the first, there is no sight of the underlying upturn in demand.

It says CEO Danielson to the news agency Direkt on Thursday.

“There are two effects of last year’s first quarter ended exceptionally strong, which means that the comparative figures last year will be extra difficult. It second is to SKF’s business is normalized, but we can not see that there is no real underlying upturn, “he says, and adds:

” but we see that SKF feels like we hopefully leveled off. “

the pricing environment is still characterized by low demand in general and thus the same situation as in recent quarters, according to Danielson.

” as it is now, it is a buyer’s market ” he says, and believes that it will remain so until we see a cyclical change.

“Certainly, there is a greater pressure, but it is normal in this kind of economic climate,” he continues.

In times of price pressure and declining volumes remain cost reductions to achieve higher profitability. According to SKF, fixed costs declined by 6 percent compared with the fourth quarter of 2014. This quarter used as a base and has been assigned the number 100 in a fixed cost index, the index 94 in the last quarter, when the number of employees has decreased by more than 700 people to 46,635.

“of course, it is somewhere a relation to the volume as well. However, the sales trend has been and with the prospects we have, we will continue and hopefully we can send down any index to,” said Christian Johansson, CFO, of its fixed cost index.

Martin Lindgren +46 8 5191 7920


SEB identified as the monster in the scandal – Expressen

The Finnish public service channel YLE revealed the terms of the asset management company LWM based in Luxembourg, which was founded by SEB at the end of the 90′s. In 2014 it was sold to the Finnish financiers Georg Henrik Ehrnrooth. Over the years, LWM worked closely with the controversial law firm Mossack Fonseca in Panama.

Yle state that LWN hired by prominent name in the Finnish trade and industry small as Nokia’s former CEO, Jorma Ollila, Sampo Group CEO Kari Stadigh and listed company eQ’s CEO Janne Alert. The three business leaders say to Yle that it was not about anything illegal.

LWM provides similar services Mossack Fonseca, including by helping clients establish companies in Luxembourg, Panama, the British Virgin Islands and the tiny island state of Niue .

Even more active than Nordea

During the period 1997-2106 has LWM founded or managed nearly 450 companies to their customers, according to the Luxembourg trade register.

SEB former subsidiary LWM seems to have been even more active than Nordea in tax havens economy, writes Yle.

Read also: the US is now investigating Swedish banks

Gent Jansson, SEB’s chief compliance Officer, told Yle that customers had different reasons to form companies:

– It can be about personal safety if you do not want the outside world should know one’s wealth. Of course, it is often the desire to arrange things so that the taxes paid in a country where the tax rate is relatively low. There is certainly the lure of tax planning.

Would not have founded LWM

Today would LWN not meet SEB’s values, according Gent Jansson:

– The question how businesses and individuals meet their tax obligations begin to some extent be a sustainability issue. Activities should definitely be acceptable even from a value perspective and not just because it is legal. For that reason, we would certainly at present come to the conclusion that we would not have founded the company LWM. We took the course a few years ago the decision that the business does not continue in SEB’s director, says Gent Jansson Yle.

Neither the owner brothers Ehrnrooth or LWM’s CEO Eric Leclerc would not comment on the Yle revealing.

“Professionalism apply to all our customers, whether this be private individuals or companies. Apart from that, as the law requires, it would be unprofessional to discuss our clients’ affairs in any way, “ he writes in an email to Yle.


Waterfall squeezed by low energy prices – Today’s News


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Stora Enso exceed expectations – Swedish Dagbladet

Photo: Lars Pehrson

the operational EBIT margin was 10.1 percent, compared with the expected 9.6 percent.

Profit before tax landed at EUR 155 million. Analysts had expected a profit before tax of 164 million euros, according to SME Direkt.

Sales amounted to 2 445 million for the period. Here lay SME Direkt consensus forecast of 2.472 billion euros.

Stora Enso expects to sales in the second quarter will be “slightly higher” than in the first quarter when it was 2445 million.

that the company said in the report for the first quarter.

Furthermore, traces the company that the operating profit for the second quarter 2016 will be in line with the options to be slightly lower than the first quarter’s 248 million euros.

In the estimate These figures include the negative impact of planned maintenance shutdowns at pulp mill Montes del Plata, containerboard mill Ostroleka and paper mill Langerbrugge in the second quarter in 2016.

“the negative impact of the maintenance is expected to be approximately EUR 25 million higher than in the first quarter of 2016,” the company said.


So beat earlier forecasts – and therefore the fault – Swedish Dagbladet

Wars and conflicts driving people to flee. But border controls and the ability to asylum will decide if they want and manage to get to Sweden.

Between 2007 and 2011, sued the number of asylum seekers fairly well in line with the forecasts Migration Board did in the beginning of the year, but the troubled global and political decisions in Europe has subsequently led to rapid changes. It notes Mikael Ribbenvik, deputy director general and chief operating officer at the Migration Board.


The legislative changes risk leading to major shortages snuff – Aftonbladet

Plot of snuff shelves in May.

It may be the result of the new Tobacco Act by Parliament hammer through.

– You might start hoarding their favorite brands so that they will not remain without a period, says Hildingsson, Communications tobacco manufacturer Swedish Match.

at the beginning of April this year clubbed parliament through the new tobacco Act, which is an adaptation to the EU directive on tobacco products. After a consultation with the legal regulations presented the Public Health Agency yesterday what will apply – and snus manufacturers will be busy days.

For over three weeks on May 20, must snuff packages to be updated with warnings similar to those already on cigarette packs . In addition, the boxes do not indicate how much nicotine snuff contains.

– Some products have entered the lower levels of nicotine to be marketed as more healthy, which is not allowed under the rules which the European Commission has produced. Now adapted to Swedish law provisions, says Josefin Jonsson, head of the unit for alcohol and tobacco supervision of the Public Health Agency.

READ ALSO SD politician: Forced Dispose pregnant women snus

may be sold, but …

at the manufacturer Swedish Match is one very critical of the short transition phase.

– I have never had any other where a nutritional forced conversion of three weeks. As we see it, it becomes impossible to carry out the conversion of four weeks for the marking of packaging, says Hildingsson, Communications at Swedish Match.

Snuff boxes of out of date marking in stock in stores May 20 may continue to be sold until may 20, 2017. But for manufacturers – and ultimately consumers – it does not help much when the turnover is very high, with over five million made cans every week.

the Public Health Agency believes that the short changeover phase will depend on the legislative process.

– Yes, it’s very short. But we have not had a tobacco law in place until the middle of April and before the agency has not authority to influence the process. We have been working in a very hectic pace to get clear, says Josefin Jonsson at the Public Health Agency.

READ ALSO Scientists: Make snuff cheaper

“Start hoarding”

the new law makes snus manufacturers are forced to produce new labels with warnings and updated contents declaration to their boxes.

What does this mean for all consumers?

– We will not be able to have legal products for May 20 It takes time to get new labels and packaging production. But we will do our best and make every effort to meet the law, says Hildingsson.

How it will echo plot of snuff shelves?

– We will not being able to face the problem of our entire range. For the industry at large will it be to trade either selling it illegally, or there is no snuff in store.

Are snus consumers begin hoarding?

– Yes, it might be the answer. To begin to hoard their favorite brands so that they will not remain without a period.

“been well aware”

Swedish Match is hoped now that the Public Health Agency and Public Health Gabriel Wikstrom a review of situation.

According to the minister’s press secretary, it is because the short conversion time of the EU.

– this is an EU directive that was negotiated in 2013 and adopted in spring 2014. the national commission presented its proposals for implementation in February 2015. I understand that it can feel like short on time, but snuff manufacturers have been well aware that this was the time and date of the directive is to be implemented, says Helena Paues, press secretary of Public Health, Gabriel Wikström.


Wednesday, April 27, 2016

SEB fell on the quiet exchange – Helsingborgs Dagblad

Good even went large bank Swedbank, which lifted 1.5 percent. Lundin Petroleum rose 0.8 percent since the oil price has risen.

the opposite direction, SEB after a weaker than expected report, fell 3.9 percent. Nordea also released its interim figures, shares rose 0.6 percent.

The share of the Stenbeck sphere power companies Kinnevik fell 3.0 percent after a quarterly report showing a case for the net asset value of SEK 10.8 billion since year-end.

on the leading European stock markets were up. FTSE index rose 0.5 percent, the Frankfurt Stock Exchange DAX index lifted 0.3 per cent and the Paris Stock Exchange’s CAC index rose 0.5 percent.


GREECE: TUSK rejects request for extra EURO SUMMIT – Dagens Industri

GREECE: TUSK rejects request for extra EURO SUMMIT

                  2016-04-27 12:48

BRUSSELS (AFX) European Council President Donald Tusk dismissed on Wednesday tanks that hold an extraordinary Euro Summit on Greece after negotiations on the new budgetary measures was canceled on Tuesday.

in a Twitter message, he urged euro zone finance ministers to resolve the issue of the euro group shortly.

“We have to avoid a situation of renewed uncertainty about Greece. We need the dates of the Eurogroup meeting – not in the distant future but within days, not weeks, “he wrote.

Greek media reported on Tuesday evening that the country’s Prime Minister Alexis Tsipras on Wednesday would request that Donald Tusk convened an extraordinary euro summit.

negotiations between the troika and the Greek government on Tuesday was canceled after a short meeting. The big stumbling block was how automatically the new budgetary measures in at 2 percent of GDP (equivalent to 3.6 billion euros) will hit if Greece misses its target of a primary budget surplus of 3.5 percent 2018th

Greece wants that measures are to take effect retrospectively after Greece’s budget figures have been verified by Eurostat. Greek Finance Minister Euklidis Tsakalotos reiterated that Greek law does not allow to legislate on budgetary actions triggered automatically under certain conditions.

IMF and several euro countries rejected this.

Bengt Ljung +32 22:30 74 56


MTG want you to zap online – Dagens Industri

When the traditional TV viewers choose the computer before the TV requires new zapp opportunities. It believes MTG is now launching a digital platform for its advertising-supported channels.

First came MTG’s pay-TV platform Viaplay. Now Viafree, the Group’s digital platform which brings together television programs from TV3 Play, TV6, TV8 and TV10. The plan is for the platform to get more people to take part of MTG’s advertising-supported TV content online.

“Our starting position for the whole bet is that this is a more efficient and user-friendly way to package all the content we have. With the various play-channels, there has been little upphugget “says Anders Jensen, CEO of MTG Sweden.

Read also: After DreamHack purchase: How much pull MTG into e-sports

MTG has in recent years had problems with its Scandinavian TV advertising business. It is one of the Group’s main sources of income and although MTG’s results for the television channels rose slightly in 2015 compared with 2014, from 633 million to 667 million, it is far from the results the group looked for advertising-financed television four years then, in 1077 m. And declining audience shares in turn leads to fewer advertising revenue.

“It is absolutely one of the largest revenue streams that we have and we want to move it to a digital context. People migrate at a furious pace to digital platforms and where we want to invest, “says Anders Jensen.

Anders Jensen, CEO of MTG Sweden. Photo: MTG

MTG in 2015 focused on transforming the company from a traditional TV companies to a digital video entertainment group. Viafree, which will be launched after the summer, can be seen as part of that work. In addition to television content from the play-channel service will also include content from other parts of the MTG family Splay, but there are also discussions with local and international content providers.

“There are no major television houses in Scandinavia today that share content with each other. It is not only traditional television content we think is interesting, but all the moving picture that can generate interest among viewers and thus have a commercial value. “

” Above all, I believe that we will find so very many new sources of exciting content and make Viafree a rather unique service in Scandinavia, “says Anders Jensen.

Read also: Viaplay challenge Netflix with the series Swedish Dicks


OECD warns Brexit: “Economic shock” – Swedish Dagbladet

Union Jack fluttering outside Parliament. Photo: Peter Cavanagh / Alamy

It would be a big negative shock to the British economy, which is expected to shrink by 3 percent by 2020 if the British decide to leave the EU, warns OECD.

For other EU countries, it would also mean a setback of about 1 percent of GDP, believe the OECD economists.

the capital outflows and reduced investments following a withdrawal would could also lead to problems for Britain to finance the large current account deficit of around 7 percent of GDP.

the referendum on British membership of the EU will take place on June 23 and in the polls, it is smooth, with a marginally lead the campaign to stay in the EU.


SSAB cuts 260 services in Sweden – Dagens Industri

Updated 2016-04-27 14:26. Published 2016-04-27 14:16

The negotiations began in Sweden included employees in Oxelösund, Borlänge, Luleå and group functions.

As a result, of negotiations, there will be a reduction of a total of 262 officials in the Swedish operations of which 64 SSAB Special Steels, 161 SSAB Europe and 37 in Group functions.

the company’s production sites in Sweden are affected as follows: 169 in Borlänge, Oxelösund 72 and 20 in Luleå. At the start of the negotiations, the decline was estimated at 265 jobs for employees in Sweden.

The reduction will implemented through layoffs, retirements and attrition. Relevant officials will receive information from their immediate superior in week 17 and 18.

The reduction is part of the previously announced synergies, but also brings additional efficiency. Since the merger with Rautaruukki in July 2014 focus has been on streamlining the organization and working methods and to exploit the synergies that exist between the two companies. Since the merger with Rautaruukki, SSAB has previously reduced its workforce by approximately 1,300 people.

Negotiations concerning workers in Oxelosund has begun and will be completed and communicated in May.

It has previously announced that the number of officials is reduced by approximately 50 SSAB in Finland.


Lower profits for Nordea and SEB – Sveriges Radio

Nordea’s profit was SEK nine billion, down from 13 billion a year ago. Nordea’s CEO Casper von Koskull claims to still be quite satisfied.

– I think it is an acceptable and okay results given the tough environment we are in, he said.

how can you say that it is acceptable when the profits went down so much?

– the quarter of last year was exceptional so it is not right to compare only there. When we have negative interest rates, low growth and low demand – then you have to say that it is a good result.

In the early , last year it was more optimistic among companies and individuals. Exchange was up, but the first quarter of this year was down, and the year began with a proper turbulence in global markets.

And the interest rates are lower now than last year, partly because of the Riksbank’s negative interest rates, something banks say they lose money on.

Also bank SEB published its report today. And there was actually a loss of one and a half billion. But it depends on an accounting maneuver that the Bank will reorganize itself.

But even if you look at the business itself, the result is considerably worse than last year, four and a half billion to almost six a year ago.

– the big difference is that customer activity is much lower, that is what we earn in commissions has declined sharply in the quarter and that customers also not been as active on borrowing money. There is a fairly large degree of caution in this quarter. We are a commercial bank, we are dependent on customers being active, says SEB Chief Executive Officer Annika Falkengren.


Earnings Fall of Nordea – Sydsvenskan

The last few weeks has been intense in the wake of Nordea’s involvement in Panama leak which showed that the bank helped clients to juggle tax evasion through the letterbox in Panama.

– of course we’re talking about it, our customers are talking about it.

His assessment is however, on the whole, so the bank not lost any customers.

An inquiry has been appointed and he hopes to present the results at the next quarterly report in July.

– It is important that we get the facts on the table, he said.

von Koskull promises solemn that it will now be out of activities that can be judged to be in the gray area.

– Compliance is the number one priority for me, he says.