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☆ Sweden's Carl XVI Gustaf celebrates 50 years as king
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +2 min

Princess Madeleine, Chris O'Neill, Prince Daniel, Sweden's Queen Silvia, Sweden's King Carl Gustaf, Prince Carl Philip, Prince Daniel and Crown Princess Victoria watch from the balcony during the changing of the guard in the outer courtyard of Stockholm Palace on the occasion of King Carl XVI Gustaf's 50th anniversary on the throne, in Acquire Licensing Rights Read moreSTOCKHOLM, Sept 15 (Reuters) - Sweden's King Carl XVI Gustaf celebrated 50 years on the throne on Friday with ceremonies throughout the capital, including gun salutes, speeches and a lavish dinner with other heads of state. Friday is the culmination of a four-day celebration and the public was invited to the Stockholm palace courtyard to congratulate the 77-year-old king, the Nordic country's longest sitting monarch. The Swedish king is the official head of state but is largely confined to ceremonial and representative duties. Carl Gustaf ascended to the throne when he was 27 years old on Sept. 15, 1973, after the death of his grandfather Gustav VI Adolf. The king, who suffers from dyslexia, was often ridiculed in the early years of his reign for misspeaking during speeches.

Persons: Madeleine, Chris O'Neill, Prince Daniel, Sweden's Queen Silvia, Sweden's King Carl Gustaf, Prince Carl Philip, Victoria, King Carl XVI Gustaf's, King Carl XVI Gustaf, Carl Gustaf, Gustav VI Adolf, misspeaking, Johan Ahlander, Tom Little, Mark Heinrich Our Organizations: Crown, Nordic, Sweden, Gothenburg University, Thomson Locations: Stockholm, STOCKHOLM, Sweden, Southeast Asia, Brunei

☆ Ozempic, Wegovy may curb drinking, smoking and other addictive behaviors – here's what we know
▼ + stars: | 2023-09-10 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +7 min

Jaap Arriens | Nurphoto | Getty ImagesHeather Le Biller shed 9 pounds within the first week of taking Novo Nordisk 's blockbuster diabetes drug Ozempic – and then even more as she continued treatment. That means it could take years before the Food and Drug Administration and other regulators worldwide approve drugs like Ozempic and Wegovy as addiction treatments. Jerlhag and her colleagues at the University of Gothenburg in Sweden have studied the effect of GLP-1s on addictive behaviors for more than a decade. "The mechanism in the brain that regulates overeating is important in regulating addictive behaviors as well," Leggio told CNBC. Still, NIDA's Leggio advises against using GLP-1s off-label to reduce addictive behaviors, "simply because there's not enough evidence in humans that they work."

Persons: Jaap Arriens, Heather Le Biller, Ozempic –, Le Biller, they're, Angela Fitch, Brandon Bell, Dr, Lorenzo Leggio, semaglutide, –, Eli Lilly, pharmacologist, Jerlhag, George Frey, NIDA's, Leggio, Steven Batash, Batash, NIDA's Leggio Organizations: Nurphoto, Novo Nordisk, CNBC, Wegovy, Obesity Medicine Association, and Drug Administration, Pharma, National Institute on Drug, University of Gothenburg, Company, Reuters, Brigade, Getty Locations: Riga, Latvia, France, Ozempic, Novo, U.S, Italian, Austin , Texas, Sweden, Provo , Utah, Queens , New York

Factors such as cheaper airfares and weaker currencies in Scandinavia could play a role, but one of the world's biggest tour operators TUI (TUI1n.DE) said on Wednesday that climate change will also drive more tourists northbound. Tour operators in places like northern Norway also see an increased demand. This had resulted in more direct flight routes to Northern Norway being created, it said. Heather Storgaard, a Scottish tourist, planned her summer vacation this year in Denmark, with a stop in Northern Germany. Wissenbach is often in Italy due to work but said she preferred the north for holidays.

Persons: Sebastian Ebel, Ebel, TUI, Fabio Scaglione, Diego Bruno, Bruno, Heather Storgaard, we'd, Margit Wissenbach, Joanna Plucinska, Marie Mannes, Rachel More, Alberto Chiumento, Mark Potter, William Maclean Organizations: Mastercard, TUI's, Stockholm, Thomson Locations: Europe, Denmark, Finland, Netherlands, Norway, Sweden, Scandinavia, Poland, Belgium, Greece, Rhodes, Northern Norway, Turin, Italy, Italian, Spain, Scottish, Northern Germany, France, Germany, Switzerland, Gothenburg, Wissenbach

☆ Volvo Cars will use Tesla's Superchargers but not its autonomous driving tech. Its CEO explains why
▼ + stars: | 2023-07-21 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +1 min

Volvo Cars CEO Jim Rowan photographed in Nov. 2022. Volvo Cars does not plan to use autonomous driving technology from Tesla and will instead focus on developing its own systems, according to the company's CEO. Speaking to CNBC's "Squawk Box Europe" on Thursday morning, Volvo Cars chief Jim Rowan was asked whether this meant the business would consider using Tesla's autonomous driving tech in the future. "And we've chosen that we want to be in full control of our ADAS [advanced driver assistance systems], all the way up to full AD [autonomous driving] software," he added. In a sign of how the company's strategy is taking shape, Volvo Cars announced late last year that it had taken full ownership of Zenseact, a business specializing in AD software.

Persons: Jim Rowan, carmaker, Elon, Tesla, We've, Rowan Organizations: Volvo, Elon Musk's, Volvo Cars Locations: Gothenburg, U.S, Mexico, Canada

STOCKHOLM, July 20 (Reuters) - Sweden-based automaker Volvo Cars (VOLCARb.ST) reported a 54% fall in second-quarter operating earnings on Thursday as the year-ago period's profit was boosted by a one-off gain, and it forecast healthy demand for its vehicles despite pricing pressures. Volvo Cars, majority-owned by China's Geely Holding (GEELY.UL), said earnings before interest and taxes (EBIT) fell to 5.0 billion Swedish crowns ($488.62 million) from a year-ago 10.8 billion. Volvo said its sales performance was driven by improved production output and that it expected supply and demand to continue to normalise in the wider markets. The company added that the normalisation would bring some additional pricing pressures, but that demand for its cars were expected to be healthy despite high interest rates squeezing its customers and overall market. Volvo reiterated its guidance of solid double-digit growth in retail sales for the full year.

Persons: China's Geely, Refinitiv, Marie Mannes, Anna Ringstrom, Jacqueline Wong Organizations: Volvo, China's, Thomson Locations: STOCKHOLM, Sweden, China, Gothenburg

[1/4] President and CEO of AB Volvo Martin Lundstedt is seen on the day of the presentation of Volvo Group's Q2 2023 earnings report, in Gothenburg, Sweden, July 19, 2023. Adam Ihse/TT News Agency/via REUTERSCompanies Volvo AB FollowSTOCKHOLM, July 19 (Reuters) - Swedish truckmaker AB Volvo (VOLVb.ST) on Wednesday logged a better-than-expected 57% jump in second-quarter adjusted operating profit, helped by price hikes. "We have been successful in improving margins while managing cost inflation and increased disturbances in the supply chain," Chief Executive Martin Lundstedt said in a statement. Operating profit before restructuring charges and legal claims surged to 21.7 billion crowns ($2.1 billion), beating a Refinitiv consensus estimate of 18.4 billion crowns. Reporting by Marie Mannes; editing by Anna Ringstrom, Jason Neely and Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

Persons: Volvo Martin Lundstedt, Adam Ihse, Martin Lundstedt, Lundstedt, Marie Mannes, Anna Ringstrom, Jason Neely, Edwina Gibbs Organizations: Volvo, TT, Agency, REUTERS Companies Volvo, STOCKHOLM, truckmaker, JPMorgan, Thomson Locations: Gothenburg, Sweden, Europe, North America, Stockholm

☆ These are the best cities in the world for a healthy work-life balance, an analysis has found. Almost all are in Europe.
▼ + stars: | 2023-07-03 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Europe is leading the way for healthy work-life balance, an analysis by Forbes found. Europe is leading the way for healthy work-life balance, an analysis by Forbes has found. Forbes ranked cities in Europe as some of the best in the world for work-life balance, but not US cities made the list. Belfast, Northern IrelandWork-life balance score: 57Belfast, Northern Ireland. Oslo, NorwayWork-life balance score: 63.2Karl Johans Gate street scene in Oslo, Norway with royal palace in the background.

Persons: Forbes, —, Ricki, Lee Abrams, Giles, Cathedral, Edinburgh . Russell Cheyne, Sylvain Sonnet, Taylor Rains, Karl Johans, Wolfgang Kaehler, Fredrik Sandberg Organizations: Service, Forbes, Invest Northern, Auckland Skyline, Getty, Stockholm, TT, Agency, AFP Locations: Europe, Denmark, Finland, Helsinki, Copenhagen, Auckland, New Zealand, Belfast, Northern Ireland, Invest Northern Ireland, Edinburgh, Scotland, Vienna, Austria, Reykjavik, Iceland, Gothenburg, Sweden, Auckland , New Zealand, . Eden, Oslo, Norway, Stockholm

LONDON, June 28 (Reuters) - Zeekr, Geely Automobile's (0175.HK) electric brand, said on Wednesday that two of its all-electric luxury cars are available for pre-order in the Netherlands and Sweden, joining a growing number of Chinese EV makers launching vehicles in Europe. Deliveries for the Zeekr 001 estate and the Zeekr X SUV are set to begin in the autumn, the company said. Pricing for the Zeekr 01 starts at 59,490 euros ($65,076) including taxes, while the Zeekr X starts 44,990 euros. "Our plan is that through 2026 we will cover the majority of western Europe," he told Reuters. Other Chinese EV makers including BYD, Xpeng and Aiways have all launched sales in Europe, seeking to gain market share while many consumers are still new to EVs.

Persons: Geely Automobile's, Spiros Fotinos, Europe's, Fotinos, Nick Carey, Johan Ahlander, Sameer Manekar, Janane Venkatraman, David Evans Organizations: HK, EV, Reuters, Thomson Locations: Netherlands, Sweden, Europe, Gothenburg, Spiros, Denmark, Germany, France, Norway, China, Stockholm, Amsterdam, Bengaluru

☆ Swede Lundqvist headlines Hall of Fame's Class of 2023
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +2 min

[1/2] Swedish hockey goalkeeper Henrik Lundqvist announces that he will quit as a hockey goalkeeper due to his congenital heart defect, in Gothenburg, Sweden August 20, 2021. Lundqvist, who was the face of the National Hockey League's most valuable franchise during his 15-season run with the team, earned the nod in his first year of eligibility. While with the Rangers, Lundqvist set 50 franchise records, including the all-time mark for wins, appearances by a goalie, shutouts, playoff appearances and playoff wins. Lundqvist last played in the 2019-20 season and was forced to retire because of a heart ailment. The induction celebration for the Class of 2023 is scheduled for Nov. 13 in Toronto.

Persons: Henrik Lundqvist, Bjorn Larsson Rosvall, Lundqvist, Tom Barrasso, Mike Vernon, Pierre Turgeon, Caroline Ouellette, Ken Hitchcock, Pierre Lacroix, Frank Pingue, Toby Davis Organizations: TT, Agency, TORONTO, NHL's New York Rangers, Hockey Hall of Fame, National Hockey, Rangers, Vezina, NHL, Dallas Stars, Stanley, Colorado Avalanche, Thomson Locations: Swedish, Gothenburg, Sweden, American, Toronto

☆ Beyoncé shows blamed for fueling inflation in Sweden
▼ + stars: | 2023-06-16 | by ( Patrick Smith | ) www.cnbc.com time to read: +5 min

Beyoncé performs onstage during the opening night of the “RENAISSANCE WORLD TOUR” at Friends Arena on May 10, 2023 in Stockholm, Sweden. Beyoncé has won a record number of Grammys, has become one of the best-selling musical artists in the world and is on a sold-out, record-breaking world tour. "So whilst Beyoncé may have caused a shock to one month's data, she's not the reason for inflation in Sweden that's well above the central bank's target," he said. As in many European countries, Sweden has faced sharp inflation and higher household costs since Russia's invasion of Ukraine disrupted the wholesale energy market and distribution networks. And as for Grahn, he is not expecting to remain of interest to either Beyoncé fans or the world's media.

Persons: Beyoncé, Queen Bey, Sweden's, Michael Grahn, It's, Grahn, hadn't, Bruce Springsteen, James Pomeroy, she's, Marcus Widén, I'm Organizations: Friends Arena, National, Denmark's Danske Bank, NBC, HSBC, Sweden that's, Entertainment, Nordic, European Union Locations: Stockholm, Sweden, United States, North Carolina, Europe, Swedish, Gothenburg, Ukraine

☆ Beyoncé blamed for keeping inflation high in Sweden. Is Springsteen next?
▼ + stars: | 2023-06-15 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —Swedish consumers now have Beyoncé to blame for their bills, bills, bills. “[That’s] definitely not normal,” Grahn told CNN. Some of Beyoncé’s US fans told BuzzFeed News in February that they had snapped up tickets for the singer’s Swedish concerts at a huge discount to her US shows. Still, he expects the Beyoncé effect to be short-lived, with hotel prices likely to fall over June. Bruce Springsteen is due to play three shows in the Swedish city of Gothenburg later this month, which could put an upward pressure on prices, Grahn said, but that’s not as likely.

Persons: Michael Grahn, ” Grahn, Grahn, Bruce Springsteen, that’s, Beyoncé, ” Organizations: London CNN, Danske Bank, Reuters, CNN, “, BuzzFeed News Locations: Denmark, Stockholm, Sweden, Swedish, Gothenburg

☆ Company execs used to trumpet their diversity and climate efforts. Now not so much
▼ + stars: | 2023-06-15 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Just 74 members of the S&P 500 even mentioned “ESG” in their first quarter earnings calls, according to new FactSet data. ESG funds have also lost popularity with investors. Total assets under management in ESG funds fell by about $163.2 billion globally during the first quarter of 2023 from the year before, according to data provider Lipper. The Congressman asked whether the company’s diversity initiatives were “directing resources away from the important things like greasing wheel bearings?”Companies “see that certain terms have become lightning rod terms. “You can say you’re increasing diversity initiatives just for the optics, but without data to back it up, you’ll eventually get called out by stakeholders,” he said.

Persons: New York CNN —, George Floyd, “, “ ESG, It’s, —, Lipper, What’s, Bud Light, influencer Dylan Mulvaney, Mike Collins of, ”, Douglas Chia, Chia, they’re, ” It’s, David Duffy, they’ll, you’ll, ’, Powell, Bryan Mena, Jerome Powell, ” Powell, Dow, Stocks, Beyoncé, Anna Cooban, Michael Grahn, ” Grahn, Bruce Springsteen, Grahn, that’s Organizations: CNN Business, Bell, New York CNN, InBev, Silicon Valley, Norfolk Southern, Conference Board’s ESG, . Firms, Securities and Exchange Commission, Federal Reserve, KPMG, Corporate Governance Institute, “, Nasdaq, Danske Bank, Reuters, CNN Locations: New York, Ukraine, United States, America, Silicon, Mike Collins of Georgia, East Palestine , Ohio, Denmark, Stockholm, Sweden, Swedish, Gothenburg

☆ Why are other automakers chasing Tesla's 'Gigacasting'?
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +4 min

Here's a look at Gigacasting and how the innovation is forcing automakers to scramble to match Tesla:WHAT IS GIGACASTING? The Giga Press is an aluminium die-casting machine adopted by Tesla at its factories in the U.S., China and Germany. The house-sized machines are able to produce aluminium parts far bigger than anything used before in auto manufacturing. Toyota said it expected that using aluminium die-casting would eliminate dozens of sheet metal parts from assembly and reduce waste. The global aluminium die-casting market was worth almost $73 billion last year and is projected to top $126 billion by 2032, showed an AlixPartners analysis.

Persons: Matthew Childs, Tesla, Elon Musk, Zeekr, Kevin Krolicki, Christopher Cushing Organizations: REUTERS, Toyota, Giga Press, EVs, WHO, Industries, Buhler Group, HK, General Motors, Hyundai Motor, Volvo, EV, Thomson Locations: London, Britain, U.S, China, Germany, Italy, Europe, Japan, Gothenburg, Sweden

☆ Beyoncé single-handedly increased inflation in Sweden, economist says
▼ + stars: | 2023-06-14 | by ( Lauren Steussy | ) www.businessinsider.com time to read: +2 min

Beyoncé kicked off her blockbuster Renaissance tour in Stockholm, Sweden. The shows attracted a surge in hotel stays which impacted the country's inflation, an economist said. Economist Michael Grahn told The Wall Journal he considered it a "Beyoncé blip." On Wednesday, Sweden Statistics, a government agency, said restaurants and hotels added 0.3 percentage points to the rate while recreation and culture metrics contributed 0.2 percentage points, according to The Financial Times. "Beyoncé is responsible for the extra upside surprise this month," Grahn added to The Financial Times.

Persons: Beyoncé, Michael Grahn, —, — Bruce Springsteen, Grahn, Taylor Swift's, Swift, didn't Organizations: Service, Danske Bank, Wall Street, Sweden Statistics, Financial Times, Forbes, Parkwood Entertainment Locations: Stockholm, Sweden, Gothenburg

☆ Head of Sweden's No. 2 party calls for rethink of relations with EU
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +2 min

STOCKHOLM, May 2 (Reuters) - Sweden should seek more exemptions from EU laws as part of a reset in relations with the 27-member bloc, the head of the Sweden Democrats, the country's second largest party and an informal part of the government, said on Tuesday. Swedes are among the most positive in Europe regarding EU membership, with 68% in support, according to a survey by Gothenburg University in March. The Sweden Democrat's EU-sceptic stance was long seen as an obstacle to their acceptance into the political mainstream and the party dropped that demand in 2018. As part of the deal, the Sweden Democrats have been able to exercise considerable influence on policy, pushing for tougher immigration rules and watered-down ambitions on climate change. The Sweden Democrats have threatened to bring down the coalition if it doesn't cut taxes on fuels and stand up to the EU over asylum quotas.

☆ These are the 10 best destinations in the world for an eco-friendly vacation
▼ + stars: | 2023-04-22 | by ( Celia Fernandez | ) www.cnbc.com time to read: +1 min

Rotterdam, Netherlands, is the best city for a sustainable vacation, according to a 2023 report from Kayak. Rotterdam, Netherlands Amsterdam, Netherlands Graz, Austria Trondheim, Norway Munich, Germany Helsinki, Finland Stockholm, Sweden Zurich, Switzerland Gothenburg, Sweden Vienna, AustriaRotterdam and Amsterdam, both in the Netherlands, took the No. The Netherlands city is the second-largest in the country and Europe's largest seaport. The city, known as "the Venice of the North," is now a designated UNESCO World Heritage site, thanks to its iconic canal district. The channels' design is considered an example of town planning that influenced the world for centuries, according to UNESCO.

Volvo, a rival of manufacturers such as Daimler Trucks (DTGGe.DE) and Traton (8TRA.DE), forecast 2023 heavy truck sales in Europe and North America of 320,000 for each region. Handelsbanken analyst Hampus Engellau said the raised truck outlook sent a strong message that Volvo sees the second-half of 2023 as a good market for its trucks. Gothenburg-based Volvo, which also makes construction equipment and engines, said there was pent-up demand to replace aging fleets which had helped boost order intake. Shares in Volvo, one of Sweden's biggest employers, rose 1.2% in morning trade in a flat broader market (.OMXSPI). Volvo is not the only automaker to have had a good quarter.

☆ Sweden's economic gloom goes from bad to worse as government predicts steeper GDP contraction
▼ + stars: | 2023-04-17 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +5 min

JONATHAN NACKSTRAND / Contributor / Getty ImagesThe Swedish government is now predicting a deeper than expected GDP contraction in 2023, according to data released Monday, worsening an already gloomy outlook for the country's economy. Sweden's Ministry of Finance estimated in December that GDP would shrink by 0.7%, but it now predicts a 1% downturn as it reassesses the "challenging economic environment." "We face major challenges, but we will get through them together," Sweden's Minister for Finance, Elisabeth Svantesson, said in a press release Monday. The latest CPI data shows inflation is finally starting to slow, but wages are limping behind and house prices are facing a serious downturn. Eroding real wagesMost European countries are experiencing sky-high inflation, leaving real wages lagging behind.

☆ Lilly says experimental Alzheimer's drug reduces amyloid in small study
▼ + stars: | 2023-03-31 | by ( Deena Beasley | ) www.reuters.com time to read: +3 min

The higher the dose of the antibody drug, which was given by subcutaneous injection, the larger the effect, Lilly said. The Indianapolis-based drugmaker is launching a Phase III study of the experimental antibody, remternetug, but declined to comment on which doses will be selected for larger, later-stage trials. Lilly, at a medical conference in Gothenburg, Sweden, presented interim data from 41 study participants. Trial results published last year showed that, in patients with early Alzheimer's, Leqembi reduced the rate of cognitive decline by 27% compared with a placebo. Brooks said that sharing its early remternetug data "reinforces Lilly's commitment and investment in the Alzheimer's disease space ...

☆ Working out is one of the best things you can do to treat depression
▼ + stars: | 2023-03-24 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +5 min

A new paper that analyzed data from 41 studies found that exercise had a big effect on depression. Researchers found that exercise improved depression symptoms at least as much as other treatments. They said that exercise should be offered as "an evidence-based treatment option" for patients. Aerobic exercise and resistance training had big effects on reducing depression symptoms, the authors noted, as did supervised and group exercises of "moderate intensity." A 2018 study published in JAMA Psychiatry found that strength training can help treat depression just as well as aerobic exercise.

☆ Maersk, a global barometer for trade, posts record 2022 earnings but warns of a tough year ahead
▼ + stars: | 2023-02-08 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

The container ship Maersk Murcia sits moored in the port of Gothenburg, Sweden, on August 24, 2020. Maersk, one of the world's largest container shipping firms, on Wednesday reported a fall in fourth-quarter earnings but posted the best full-year result in its history. This took the full-year underlying EBITDA figure to $36.84 billion, fractionally below the company's forward guidance of $37 billion but its strongest-ever full-year result. Maersk raised its dividend to 4,300 Danish krone ($620.33) per share from 2,500 DKK per share. For 2023, Maersk expects underlying EBITDA to plummet to between $8 billion and $11 billion.

☆ You don't need an electric vehicle with a long range — buy one you can afford instead
▼ + stars: | 2023-02-02 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Many prospective electric car buyers worry about an EV's range, or how far it goes on a charge. But with new battery tech and more available charging, range shouldn't be a prime factor. But some experts say that in picking the right electric car, that last question of range is becoming less important — and less helpful. That's because in reality, most drivers don't need long-range EVs. "You don't need batteries that go 800 miles when it's convenient and easy and quick to recharge every 300 miles.

Its other major shareholder, PSD Investment, will provide the same amount through "direct and indirect financial and liquidity support," Polestar said. "We welcome the continued support from our major shareholders at a time when the capital markets are volatile and unpredictable," Polestar CEO Thomas Ingenlath said in a statement. Volvo, like other major carmakers, has in recent years invested heavily in making its own electric vehicles and has also said it was committed to supporting Polestar. Volvo aims to sell only fully electric cars by 2030, while Polestar has a goal to launch three more cars by 2026. In February, Volvo formed a joint venture with battery manufacturer Northvolt to build a battery plant in Gothenburg which would produce battery cells specifically for electric Volvo and Polestar cars.

☆ How United Airlines expects electric planes to change the way passengers make travel decisions
▼ + stars: | 2022-10-28 | by ( Tim Mullaney | ) www.cnbc.com time to read: +10 min

As electric cars and SUVs move toward 5% of the new-car market in the U.S. and 9% globally, few airlines have made any major push toward electric planes. Sustainability plans being pursued by American Airlines , Delta Air Lines and Southwest Airlines barely mention electric planes. "Go back to the 1990s, there were hundreds of small aircraft serving a lot of communities that have now lost service." "There are literally dozens of companies that wouldn't have worked that are now viable startups that you'll hear about United Airlines and United Ventures investing in in the coming months." Most likely, electric planes will serve small markets, hydrogen-powered planes will serve medium-sized passenger loads, and SAF-powered jet engines will serve major cities.

Oct 27 (Reuters) - Swedish automaker Volvo Cars (VOLCARb.ST) expects lower wholesale volumes this year, it said on Thursday as it reported a drop in third-quarter operating profit, hit by higher costs and lower volumes. The Gothenburg-based company now expects 2022 wholesale volumes to be "slightly lower" compared with the year before, down from a previous forecast for better wholesales volumes than in 2021. In addition, Volvo said it had been forced to conduct spot buying of semiconductors to fill production shortfall and logistics costs, in addition to mounting raw material costs that all hurt its operating profit. Only this week, the shortage saw Volvo having to shut one of its Swedish factories for a week. Stockholm-listed Volvo, majority owned by Chinese automotive company Geely Holding [RIC:RIC:GEELY.UL], said its quarterly operating profit fell to 2.1 billion Swedish crowns ($193.41 million) from 3.3 billion a year ago.

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