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Only two European stocks have positively surprised markets every quarter for the past five quarters, according to analysis by CNBC Pro. CNBC Pro screened for stocks that report EPS figures and have analysts' estimates available on FactSet. Most recently, on Feb. 5, the company beat earnings estimates by 6.1% and shares rallied more than 8% in the following session. Four quarters ago, the stock rallied by 12.8% in a single session following earnings. Many banking stocks, such as France's Societe Generale , Spain's Banco de Sabadell , Germany's Commerzbank and Sweden's Swedbank , beat earnings-per-share estimates over the past five quarters.
Persons: UniCredit, Germany's, Sweden's Organizations: CNBC Pro, Portugal's Banco Comercial Portugues, Generale, Spain's, Sabadell, Deutsche Bank, CNBC Locations: Europe, Milan
Drayage trucks, which bring cargo from ports to warehouses nearby, must make the move to electric by 2035 in the U.S. state. Transitioning fleets to electricAcross the Atlantic, Dutch brewer Heineken recently partnered with Swedish electric truck start-up Einride to make the transition to electric. Getting more electric trucks to carry cargo on the road, especially for long-distance journeys, will need to be spearheaded by cargo owners that want their goods moved sustainably. Many of the new trucks will be deployed in markets where DFDS has not yet moved to electric trucks, including in the U.K. In California, Lime's use of electric trucks has been driven by legislation that states all drayage trucks must be zero-emissions by 2035.
Persons: Andrew Savage, we've, Savage, Arjen van der Woude, that's, van der Woude, Sweden's, Robert Falck, " Falck, Lime's Savage Organizations: PT Vale, Hight Logistics, CNBC, Heineken, DFDS, Volvo Locations: PT Vale Indonesia, China, California, U.S ., North America, Los Angeles, Long, Canada, Dutch, Swedish, Netherlands, Germany, Europe, Rotterdam
Sweden's Volvo Cars on Thursday climbed to its highest level since November, after the automaker reported record single-month sales for March and solid electric vehicle growth in Europe. Year-on-year sales of electric vehicles in Europe were 22% higher in the quarter and up 34% year-on-year in March, roughly in line with overall sales growth in that market. Sales of electric models to China, the largest EV market, dropped by 36% despite a 4% hike in overall sales. Overall sales growth was 17%. "These numbers reflect the strength of our strategy and product diversity - offering fully electric cars alongside plug-in hybrids and mild hybrids in the right mix," Volvo Cars' Deputy CEO Björn Annwall said in a statement.
Persons: Björn Annwall Organizations: Volvo, Volvo Cars, EV Locations: Europe, London, China
These are the main aspects of working in Sweden that other cultures might find surprising. AdvertisementSupport for working parentsIn Sweden, parental leave has become an incubator for new ideas and people often change career direction during their leave. Being on leave gives you time to think with some distance from everyday life. I have been financially supported during my parental leave and as my children grow. Collective bargaining, another tenet of Swedish working culture, prioritizes employee needs and gives more power to the employee.
Persons: , Sofia Brandt, Ally, There's, they're VAB, I'd, wouldn't, that's Organizations: Service, Accenture, Business Locations: Gothenburg, Sweden, American, San Francisco, America
McDonald's has just one McSki, or Ski-Thru, located in one of Sweden's biggest resorts. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . McDonald's has just one restaurant with a so-called Ski-Thru, located at the Lindvallen ski resort in Sälen, Sweden. The McSki restaurant, as it's also known, opened in 1996 and feeds hungry skiers throughout the winter.
Persons: McDonald's, , it's Organizations: Service Locations: Sweden, Sälen
The remains of the Francis Scott Key Bridge on March 26, 2024 in Baltimore. Michael A. McCoy | The Washington Post | Getty ImagesThe Baltimore bridge collapse on Tuesday prompted carmakers to assess operations after the closure of the busiest U.S. auto port. Six people who had been working on the bridge were presumed dead on Wednesday, after rescuers failed to find them. The Port of Baltimore, the 11th largest port in the U.S. and its busiest for autos and light trucks, has been closed until further notice. Sweden's Volvo Group said it did not expect a significant impact, but was checking its U.S. production facilities.
Persons: Francis Scott Key, Michael A, carmakers, Dimitris Psillakis, it's, Psillakis Organizations: Francis Scott Key Bridge, McCoy, Washington Post, Getty, Logistics, Mercedes, Benz, CNBC, Baltimore, Volkswagen Group of America, Germany's Volkswagen, VW, Audi, Lamborghini, Bentley, Atlantic, Volvo Group, General Motors, Ford, Toyota, Nissan, Mitsubishi Locations: Baltimore, Port, U.S, East, Brunswick, Georgia
Ericsson to lay off 1,200 people in Sweden amid challenging market
  + stars: | 2024-03-25 | by ( ) www.cnbc.com   time to read: +1 min
Sweden's Ericsson on Monday said it would lay off about 1,200 employees in Sweden as a part of costs cuts announced earlier this year, citing a challenging mobile networks market and lower volumes in 2024. After a few years of high demand for 5G equipment, buying by telecom providers has slowed, prompting firms such as Ericsson and Nokia to lay off thousands of employees to save costs. "As previously stated, Ericsson expects a challenging mobile networks market in 2024, with further volume contraction as customers remain cautious," the company said in a statement. Ericsson will continue its initiatives to increase operational efficiency during 2024, but will not make any separate statements on those, it added. Ericsson had told Reuters in January it could look at further cost cuts this year including layoffs but without giving a specific number.
Persons: Sweden's Organizations: Sweden's Ericsson, Ericsson, Nokia, Reuters Locations: Sweden
Last month, II MEF attended a 10-day training course in the hills near the Norwegian town of Setermoen. "I think that's one of the things that we see with our marines and sailors in this training," said II MEF commander, Lt. AdvertisementThe II MEF, the US military's rapid response group, was ordered to delay the hypothetical enemy so that "reinforcements" had time to arrive. The Arctic is a key locationThe Arctic itself is already a critical region for Russia and NATO. AdvertisementPutin has snapped back at the West following French President Emmanuel Macron's suggestions that NATO could send troops to Ukraine.
Persons: , Ted Driscoll, David A, JONATHAN NACKSTRAND, Grant Schapps, Pål Jonson, Mark Stephens, Vladimir Putin, Putin, Emmanuel Macron's, Sergei Naryshkin, General Carl, Johan Edstrom, it's Organizations: Service, US Marines, Marine Expeditionary Force, NATO, Marines, Business, NBC News, Nato Nordic, Getty, Reuters, NBC, Norwegian Communication Authority, Brookings Institution, Russia's Foreign Intelligence Service, BBC Locations: Alaska, Norway, Norwegian, Setermoen, Iraq, Afghanistan, AFP, Russia, Ukraine, Finland, Sweden, North America, Europe, Russian
Sweden is considering reinforcing Gotland, a strategic island in the Baltic Sea, after joining NATO. AdvertisementSweden is open to re-fortifying a crucial island in the Baltic Sea now that it's joined NATO, its prime minister said. "That goes in terms of presence on Gotland, but also in terms of surveillance, in terms of submarine capabilities." Gotland marked with an arrow in the Baltic Sea. Gotland is considered to hold a key strategic position in the Baltic Sea, and is often referred to as an "unsinkable aircraft carrier."
Persons: , it's, Ulf Kristersson, Kristersson, Tom Porter, Anna Wieslander, Eric Adamson, Carl, Oskar Bohlin Organizations: NATO, Service, Financial, Google, Atlantic, FT, Atlantic Council, BBC Locations: Sweden, Gotland, Baltic, Estonia, Latvia, Lithuania, Finland, Poland, Swedish, Russian, Kaliningrad, Crimea, Ukraine, Russia
Sweden conducted its first reconnaissance flights near the Russian border since joining NATO. The two flights were aimed at collecting intelligence on troop and weapons deployment in the region. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe Swedish Air Force last week conducted its first reconnaissance flights near Russia's border since officially joining NATO.
Persons: Organizations: NATO, Service, Swedish Air Force, Intelligence, Swedish Gulfstream, SP Signal Intelligence, Business Locations: Sweden, Russian, Russia, Russia's, Swedish, Poland, Russia's Kaliningrad, Belarus
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSweden's NATO membership is also a 'big change' for NATO, analyst saysBjörn Fägersten, senior research fellow at the Swedish Institute of International Affairs and CEO of Politea, discusses Sweden's NATO membership and what it means for both sides.
Persons: Björn Fägersten Organizations: NATO, Swedish Institute of International Affairs
Turkish and U.S. officials held comprehensive talks about the wars in Ukraine and Gaza and various bilateral issues during meetings in Washington, Turkey's foreign minister said late on Friday. The NATO allies started the meetings, dubbed the Strategic Mechanism, on Thursday to discuss efforts to move beyond deep policy disagreements and improve cooperation in other areas. Turkish foreign minister Hakan Fidan said officials from the countries held several rounds of discussions on topics including Syria, the Ukraine, Gaza, defense industry cooperation, energy, and counterterrorism. Turkey is also deeply concerned over U.S. support for Kurdish militants in Syria, whom Ankara deems terrorists. He said Turkey was open to discussing the matter but Washington needed to be "open minded".
Persons: Hakan Fidan, Fidan, Antony Blinken, Jake Sullivan Organizations: NATO, U.S Locations: U.S, Ukraine, Gaza, Washington, Turkish, Syria, Ankara, Turkey, Kyiv, Moscow, Russian
A JAS 39 Gripen C/D fighter aircraft takes off from Lulea-Kallax Airport, Sweden on March 4, 2024 during the NATO Nordic Response 24 military exercise, a Norwegian national exercise carried out in northern Sweden, Norway and Finland with associated airspace and waters. Sweden officially joined NATO as its 32nd member on Thursday, almost two years after first applying to the military alliance. "Sweden's accession makes NATO stronger, Sweden safer, and the whole Alliance more secure. The country first applied to join NATO in May 2022, not long after Russia's war on Ukraine began. This marked a significant change in Sweden's previous policy of military nonalignment which stretches back to the Napoleonic wars.
Persons: Jens Stoltenberg, Ulf Kristersson Organizations: Kallax, NATO, Alliance, Washington , D.C Locations: Lulea, Sweden, Norwegian, Norway, Finland, Swedish, Washington ,, Ukraine
A spirited President Joe Biden delivered a fiery, partisan State of the Union address on Thursday, fit for an election year with enormously high stakes in a divided nation. "Not since President Lincoln and the Civil War have freedom and democracy been under assault here at home as they are today," Biden said early in the speech. "What makes our moment rare is that freedom and democracy are under attack, both at home and overseas, at the very same time," he said. "Overseas, [President Vladimir] Putin of Russia is on the march, invading Ukraine and sowing chaos throughout Europe and beyond. "My message to President Putin is simple.
Persons: Joe Biden, Lincoln, Biden, Vladimir, Putin, Ulf Kristersson, Lady Jill Biden Organizations: NATO Locations: Russia, Ukraine, Europe, Swedish
Mack Trucks, founded in Brooklyn, New York, in 1900, is renowned for its 18-wheelers, diesel-powered big rigs with a trademark bulldog mounted on the hood. Purchase-making decisions are distinct for consumer and commercial markets, a difference reflected in last year's EV sales results within both sectors and outlooks for future growth. EV sales increased year over year by 40% in the fourth quarter, yet were down from 49% in the third quarter. Cox expects this year's EV sales to reach 1.5 million, about 36% higher than last year. Eighty EV truck deployments were cataloged in 2020, and those deployments jumped to 1,948 in 2022.
Persons: Mack Trucks, Mack, Jonathan Randall, Kelley, Cox, Tesla, EVs, Randall, BEV, Ann Rundle, Rundle Organizations: Mack Trucks North, Sweden's Volvo Group, Volvo Trucks, Volvo, U.S, EV, Ford, GM, EDF, American Truck Dealers Association, ACT Research, ICE Locations: Brooklyn , New York, , New York City, Miami , Florida, Mack Trucks North America, Greensboro , North Carolina, Paris, U.S, United States
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMust keep Arctic region free from military usage and build-up, Iceland's president saysIcelandic President Guðni Thorlacius Jóhannesson discusses Sweden's NATO accession, geopolitics in the Arctic and concern over "Russian aggression" in Ukraine.
Persons: Guðni Thorlacius Jóhannesson Organizations: NATO Locations: Ukraine
Read previewThe Apple car is dead (apparently). The scrapped plans would be a grim sign for the EV market in the US, which has suffered from flagging demand. As BI reported earlier this month, car companies are rethinking EV plans in response to softening demand for pure electric cars. Apple's "Project Titan" car was also supposed to be an autonomous, expensive technology that most car companies have already put on the back burner. Automakers shift EV plansLike Apple, US auto companies have been shifting plans to account for softer EV demand.
Persons: , Apple's, BYD, We're, Stella Li, Li, Mary Barra, Elon Musk's Tesla, Musk, Harald Wilhelm, Mercedes Organizations: Service, EV, Apple, Bloomberg, Business, Yahoo Finance, General, Volvo, Polestar, Benz Locations: North America
Sweden this week became the newest member of the NATO alliance. On Tuesday, Hungary's parliament voted to approve Sweden's NATO membership in a move that may be exactly what the West needs to counter Putin and his underhand tactics. Sweden has accused Russia of spreading misinformation about Koran burnings to damage its bid for NATO membership. NATO has some major challengesDespite the boost from Sweden's membership, NATO still faces some of the gravest challenges in its history. "The same is true for Finland and Sweden's NATO membership."
Persons: , Vladimir Putin, He's, Putin, Oscar Jonsson, JONATHAN NACKSTRAND, Nima Khorrami, St, Russia's, It's, Shawn Coover, Emmanuel Macron, Jonsson, Khorammi, Donald Trump Organizations: NATO, Service, Russia, Swedish Defence University, Business, Forces, Swedish Amphibious Corps, US Marine Corps, Stockholm Archipelago, Getty, Arctic Institute, Staff, US Locations: Sweden, Ukraine, Russian, Hungary's, Russia, Baltic, Europe, Stockholm, NATO, St Petersburg, Kaliningrad, USSR, Crimea, South Carolina, Western, Finland
Apple appears to be tapping out as car companies scramble to adjust EV plans. AdvertisementThe Apple car is dead (apparently). The scrapped plans would be a grim sign for the EV market in the US, which has suffered from flagging demand. As BI reported earlier this month, car companies are rethinking EV plans in response to softening demand for pure electric cars. Automakers shift EV plansLike Apple, US auto companies have been shifting plans to account for softer EV demand.
Persons: , Apple's, BYD, We're, Stella Li, Li, Mary Barra, Elon Musk's Tesla, Musk, Harald Wilhelm, Mercedes Organizations: Apple, Service, EV, Bloomberg, Yahoo Finance, General, Volvo, Polestar, Benz Locations: North America
Sweden is poised to become the 32nd member of NATO
  + stars: | 2024-02-27 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSweden is poised to become the 32nd member of NATOCNBC's Silvia Amaro reports on the latest expansion of the NATO military coalition, after holdout Hungary approved Sweden's membership bid.
Persons: NATO CNBC's Silvia Amaro Organizations: Sweden, NATO Locations: Hungary
Hungary votes to approve Sweden's NATO membership
  + stars: | 2024-02-26 | by ( Karen Gilchrist | ) www.cnbc.com   time to read: +1 min
Swedish Prime Minister Ulf Kristersson is meeting with Hungarian Prime Minister Viktor Orban in Budapest, as Hungary remains the last NATO member to not ratify Sweden's bid to join NATO, on (Photo by Balint Szentgallay/NurPhoto via Getty Images)Hungary on Monday voted to approve Sweden's NATO accession bid, ending months of diplomatic negotiations and finalizing Stockholm's membership almost two years after it first applied to join the military alliance. Hungarian lawmakers voted in favor of Sweden's membership after overcoming long-standing opposition from governing party members led by Prime Minister Viktor Orban. The Scandinavian country will become the 32nd NATO member, coming under the fold of Article 5 of the treaty, which vows that an attack on one member is an attack on all of them. Sweden applied to join NATO in May 2022 — at the same time as Finland — in a historic overhaul of its policy of military non-alignment following Russia's invasion of Ukraine. While a vast majority of NATO members backed Stockholm's bid from its early days, Orban was resistant amid Swedish criticism over Hungary's democracy.
Persons: Ulf Kristersson, Viktor Orban, Balint Szentgallay, , Orban Organizations: Swedish, Hungarian, NATO, Getty Images, Monday, Finland —, Gripen Locations: Budapest, Hungary, Sweden, Finland, Ukraine, Europe, Swedish
Of the 194 members of parliament who voted, just six rejected Sweden’s accession. NATO Secretary-General Jens Stoltenberg confirmed that Sweden will join the alliance now that all allies have approved Sweden’s bid to join. As NATO states, Finland and Sweden will enjoy the protection granted under Article 5 of the treaty that established the alliance – which states that an attack on one member is considered an attack against all. While most NATO members quickly approved Finland and Sweden’s applications, Hungary and Turkey held out for some time. Video Ad Feedback Turkish parliament approves Sweden's NATO membership bid 01:05 - Source: CNNShortly after the Turkish vote, Orban told NATO chief Stoltenberg that his government would also support Swedish membership.
Persons: CNN —, Vladimir Putin, Ulf Kristersson, Viktor Orban, Sweden’s, ” Kristersson, Jens Stoltenberg, Recep Tayyip Erdogan, Orban, Stoltenberg, Putin, Luke McGee, Lauren Kent Organizations: CNN, NATO, Stockholm, Swedish, Gripen, , United, Russia, Ukraine, Union, EU, Sweden’s, Budapest, Kyiv Locations: Budapest, Hungary, Swedish, “ Sweden, Sweden, United States, Atlantic Treaty, Eastern Europe, Russia’s, Finland, Russia, Ukraine, Turkey, Stockholm, EU, Europe, Israel
Turkey spent nearly two years — along with Hungary — holding up Sweden's accession to NATO. Within hours of Ankara's decision, the U.S. approved a $23 billion sale for F-16 fighter jets to Turkey that had been delayed since 2021. It's worth noting that Hungary has yet to approve Sweden's NATO bid, and remains the only member of the alliance standing in the way of the Nordic country's accession. Turkey seemingly has a unique position that allows it to push the envelope and cross lines with its NATO allies. "My approval of Turkey's request to purchase F-16 aircraft has been contingent on Turkish approval of Sweden's NATO membership.
Persons: Turkey Recep Erdogan, It's, Recep Tayyip Erdogan, it's, Victoria Nuland, David Lepeska, Ben Cardin Organizations: NATO, Conference, Hungary —, UAE, Democratic, Senate Foreign Relations Locations: Turkey, Vilnius, Lithuania, Hungary, Sweden, Washington, Russian, Turkish, Eastern
Mette Frederiksen, Denmark's prime minister, speaks on day two of the Munich Security Conference in Munich, Germany, on Saturday, Feb. 17, 2024. Danish Prime Minister Mette Frederiksen criticized a waning sense of urgency among delegates at the Munich Security Conference on Saturday as Moscow's full-scale offensive nearly enters its third year. "The sense of urgency is simply not clear enough in our discussions," Frederiksen told a lunchtime session. Denmark has now donated its entire artillery to Ukraine, Frederiksen said, urging other countries to do the same as the war marks its second anniversary on Feb. 24. The policymakers were speaking at the 7th Munich Ukrainian Lunch, hosted on the sidelines of the MSC by the Yalta European Strategy (YES) forum and Ukrainian non-profit the Victor Pinchuk Foundation.
Persons: Mette Frederiksen, Denmark's, Frederiksen, Putin, Radosław Sikorski, Victor Pinchuk, Tobias Billström, Bakhmut, Nikolay Denkov, Denkov, Genya Savilov, Hillary Clinton, , Niall Ferguson, Clinton, Petr Pavel, Kaja Kallas, Alexander De Croo, Bulgaria Nikolay Denkov Organizations: Munich, Bloomberg, Getty, Kyiv, MSC, Yalta European Strategy, Victor, Victor Pinchuk Foundation, Sweden's, Moscow, 47th Mechanized Brigade, Bradley, Afp, Former, U.S, CNBC Locations: Munich, Germany, MUNICH, Ukraine, Danish, Denmark, Poland, Ukrainian, Avdiivka, Moscow, Russia, Europe, U.S, Donetsk, Western, Czech Republic, Republic of Estonia, Belgium, Bulgaria
Hungary Can Soon Ratify Sweden's NATO Bid, PM Orban Says
  + stars: | 2024-02-17 | by ( Feb. | At A.M. | ) www.usnews.com   time to read: 1 min
BUDAPEST (Reuters) - The Hungarian parliament can ratify Sweden's NATO membership when it convenes for its new spring session later this month, Prime Minister Viktor Orban told his supporters on Saturday. "It's good news that our dispute with Sweden will soon be settled," Orban said. "We are going in the direction that at the start of parliament's spring session we can ratify Sweden's accession to NATO."
Persons: Viktor Orban, " Orban Organizations: NATO Locations: BUDAPEST, Hungarian, Sweden
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