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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Switzerland has maintained its position as the world's most innovative economy for the seventh consecutive year, according to the Global Innovation Index 2017. The country excels in innovation outputs, including patents and research, and is noted for its favorable business environment and strong transformation of resources into diverse innovations. Following Switzerland in the rankings are Sweden, the Netherlands, the United States, and the United Kingdom.
The Riksbank in Sweden is urging institutions to accept cash as its availability declines, while Switzerland faces a similar trend with a failed cash initiative and a proposed constitutional safeguard for cash supply. The Swiss National Bank reports a significant drop in cash transactions, with debit cards and apps overtaking cash payments, particularly in rural areas where access to cash is diminishing.
Danske Bank analysts anticipate a shift in the Riksbank's approach to interest rate cuts, now predicting a half-point reduction next week instead of the previously expected quarter-point cuts. This change is driven by disappointing economic data and surveys, indicating that prior rate cuts have not effectively stimulated the expected economic recovery.
A recent economic tendency indicator in Sweden dropped to 93.6, down from a revised 94.6, signaling a decline in business sentiment and dampening recovery hopes. In contrast, consumer confidence rose for the 13th month in a row, surpassing 100 for the first time in nearly three years. However, the manufacturing sector's sentiment fell to 91.8, marking its lowest point since June 2020.
UBS has raised its target price for Skanska to SEK 195 from SEK 182, maintaining a sell rating. Skanska AB, a leading global construction and public works group, generates 94.3% of its net sales from building and infrastructure projects, with 5.6% from real estate development. Geographically, 48% of sales come from the United States, followed by Sweden (19%), the United Kingdom (11.9%), and Norway (11.6%).
Volvo Car AB is taking full ownership of the NOVO Energy project, a joint venture with Northvolt AB, due to Northvolt's failure to meet its financing obligations. This move highlights the significant challenges faced in scaling battery production for the electric vehicle market.
Sweden's economy unexpectedly contracted by 0.1% in the third quarter, according to preliminary data from Statistics Sweden. This decline contrasts with a median forecast of 0.3% growth in a Bloomberg survey, indicating that the anticipated recovery has not yet materialized. The initial estimate may undergo significant revisions.
Chrysalis Investments Ltd has raised its valuation of Klarna to £120.6 million, up from £100.3 million in the previous quarter, as the fintech prepares for a potential IPO next year. This adjustment implies an overall valuation of approximately $14.6 billion, according to Deutsche Bank AG analysts.
Scania has announced a complete transition to Northvolt batteries for all its future electric trucks, demonstrating confidence in the struggling Swedish battery manufacturer. CEO Christian Levin stated that the current supply volumes from Northvolt meet their needs amid the existing market conditions.
Alessandro Chiesi, president of the Parma-based multinational, emphasizes the importance of innovation in the pharmaceutical sector, highlighting a record €723 million investment in R&D, which represents 23.8% of turnover. Despite Italy's leadership in pharmaceuticals, he calls for systemic changes to enhance collaboration between universities and the private sector, aiming to boost healthcare R&D investments. The newly inaugurated Biotech Center of Excellence in Parma aims to advance the development of biologic drugs, particularly for rare diseases, showcasing the company's commitment to addressing social challenges alongside business opportunities.
SWE
Country
17:51 30.10.2024
15:15 30.10.2024
13:24 30.10.2024
10:04 30.10.2024
Norwegian Krone
British Pound Sterling
Swedish Krona
United States Dollar
Skanska AB (publ)
NOR
USA
SWE
GBR
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09:50 30.10.2024
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British Pound Sterling
Klarna AB
Deutsche Bank Aktiengesellschaft
Chrysalis Investments Limited
SWE
Deutsche Bank AG
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13:43 28.10.2024
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Chiesi Farmaceutici S.p.A.
Great Place to Work
CAN
SWE
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GBR
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BRA
ITA
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Alessandro Chiesi
Giacomo Chiesi
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12:01 28.10.2024
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