Swedish Krona Gains on Signs Growth Is Quickening, Interest Rate Outlook

(Bloomberg) -- Sweden's krona rose on expectations
faster economic growth and further interest-rate increases will
make the Nordic currency more attractive to investors.

The Stockholm-based Riksbank, Sweden's central bank, said in
June it will probably lift its benchmark rate twice more this
year bringing it to 4 percent. Gross domestic product growth
quickened to an annual 3.6 percent in the second quarter from 3
percent in the first, the statistics office said last week.


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AstraZeneca ups job cuts to 7,600 in savings drive

(Reuters) - The Anglo-Swedish drugmaker, which announced in February it planned to cut about 3,000 positions, said it would increase the job cuts to more than 10 percent of its 2006 workforce in a drive to make over $900 million of annual savings by 2010.




Chief Executive David Brennan said the additional job losses would affect its European sales and marketing team as well as employees working in research and development and other areas in Britain, Sweden, Germany, France, the United States and Canada.


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UPDATE 2-AstraZeneca ups job cuts to 7,600 in savings drive

(Reuters) - The Anglo-Swedish drugmaker, which announced in February it planned to cut about 3,000 positions, said it would increase the job cuts to more than 10 percent of its 2006 workforce in a drive to make over $900 million of annual savings by 2010.




Chief Executive David Brennan said the additional job losses would affect its European sales and marketing team as well as employees working in research and development and other areas in Britain, Sweden, Germany, France, the United States and Canada.


Read more at Reuters.com Market News

Husqvarna pretax tops forecasts, eyes acquisitions

(Reuters) - STOCKHOLM, July 24 - Garden and construction tools maker Husqvarna posted a bigger-than-expected 32 percent rise in second-quarter pretax earnings on Tuesday, boosted by recent acquisition Gardena.



Sweden's Husqvarna, spun out of white goods giant Electrolux last year, said pretax profit rose to 1.53 billion Swedish crowns from 1.15 billion a year earlier. Profit exceeded an average forecast of 1.40 billion seen in a Reuters poll of 10 analysts.


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Vattenfall Starts Sweden's Forsmark-2 Nuclear Reactor After Repairing Leak

(Bloomberg) -- Vattenfall AB, the Nordic region's
biggest utility, started its Forsmark-2 nuclear reactor in
Sweden, after halting it to repair a water leak.

Vattenfall started the 1,000-megawatt unit at Forsmark,
located on the country's east coast, north of Stockholm, at 6:46
a.m. local time, it said today in a statement distributed by the
Nord Pool ASA power exchange. Production will increase
``slowly'' to 975 megawatts, the company said.


Read more at Bloomberg Energy News

Swedish Krona Gains by Most in Almost Five Years as Riksbank Raises Rates

(Bloomberg) -- Sweden's krona advanced by the most
in almost five years against the euro after the country's central
bank lifted its benchmark interest rate and said it will increase
it twice more this year as rising employment threatens to feed
inflation.

The krona soared to its highest this month, and climbed to a
two-week high versus the dollar, after Sweden's central bank, the
Riksbank, raised borrowing costs to 3.5 percent and said its repo
rate would have to be around 4 percent at the end of the year, up
from a previous forecast of 3.5 percent.


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