Business

The Swedish burger chain Brödernas, once valued at 1 billion SEK, is facing a downturn with five more restaurants filing for bankruptcy. The chain, co-owned by NHL player Mika Zibanejad, has seen significant financial losses, leading to multiple closures across Sweden.

Swedish Match's snus factory in Gothenburg is facing a multi-million kronor lawsuit after the union took the company to the Labor Court. The union claims that over a hundred workers have been denied shift allowances for eight years, demanding retroactive compensation and damages.

In Söderhamn, 152 apartments owned by Faxeholmen are set to be demolished as demand plummets. The decision comes as more residents prefer villa-like homes, leaving 13% of apartments vacant compared to the national average of 2%. Faxeholmen is considering innovative solutions like 'tiny houses' to attract new residents.

McDonald's in Denmark has introduced 'night prices,' increasing the cost of popular items like cheeseburgers from midnight to 6 AM. This move, aimed at covering the costs of late-night operations, is not planned for widespread implementation in Sweden, according to McDonald's Sweden.

An Ica store in Västerås used AI to sell ice cream boats, leading to a mix-up where a customer accidentally ordered 324 ice creams. The AI bot required specific comment formats to process orders, causing misunderstandings. Store manager Joakim Ericson is reviewing the situation.

Scandic Hotels will start charging separately for breakfast, offering guests more flexibility. This change, already standard in some locations, aims to make room prices more competitive.

Sweden's inflation unexpectedly rose to 2.9% in June, surprising economists and potentially impacting future interest rate decisions by the Riksbank. While some experts urge calm, the sudden increase could complicate plans for further rate cuts.

Sweden is experiencing a significant shortage of beef, with the number of cattle at its lowest since the 1800s. The 2018 drought marked the beginning of challenging years for meat production, exacerbated by the pandemic and geopolitical tensions. Despite increased demand for Swedish meat, supply struggles to meet it. Industry leaders urge consumers to explore alternative cuts as the sector works towards recovery.

Markus Jonasson from Simrishamn invoiced a company for 'torture' after enduring an hour-long phone queue to dispute a reminder fee. Surprisingly, the company paid him, highlighting a unique protest against poor customer service.

Pangeo planet, a Swedish lottery company, has filed a lawsuit against Svenska Spel, accusing them of plagiarizing their lottery concept. The dispute centers around a game where players place pins on a globe, with winners drawn weekly. Pangeo claims Svenska Spel launched a similar game, 'Lyckoplatsen', after initially rejecting their idea. The lawsuit seeks to establish a breach of agreement and potential damages.

The Stockholm Stock Exchange closed the trading week with a broad decline, mirroring other major European markets. Despite the downturn, the week ended positively overall for the exchange.

Systembolaget in Borgholm has reopened after a sewage explosion forced its temporary closure. The incident, which occurred on Thursday evening, led to the disposal of contaminated goods. The store resumed operations on Friday afternoon after extensive cleanup efforts.

As food prices drop for the first time in two years, a heatwave in Europe threatens to reverse this trend. Frank Elderson from the European Central Bank highlights the link between climate change and economic indicators like inflation. Researchers note that rising temperatures can negatively impact agriculture, potentially leading to higher food prices and influencing future ECB interest rate decisions.

Mortgage rates in Sweden are on the decline, with major banks reducing their fixed rates. Borrowers are encouraged to negotiate actively to benefit from these reductions. Financial expert Felicia Schön advises staying proactive and informed to secure the best rates. As the economic outlook remains uncertain, further rate cuts are anticipated.

Willys, a major Swedish grocery chain, is phasing out snus coolers in favor of cabinets to save energy. Despite minimal customer backlash and unchanged snus sales, the move has sparked criticism from the Snusarnas Riksförbund, which argues that the change affects snus quality.

In June, Sweden saw a 0.2% decrease in food prices, marking the largest drop since April 2023. This decline, driven by lower prices for coffee, fruits, and berries, comes after months of minor price increases. Despite this, food prices remain 2.5% higher than a year ago. The strong Swedish krona and improved harvests have contributed to the price drop, although meat prices continue to rise due to a shortage of livestock.

William Lindquist from HUI criticizes the Swedish Competition Authority's report on food prices, arguing that the profitability in the grocery sector is low compared to other industries. He disputes claims of excessive price hikes and criticizes political figures like Nooshi Dadgostar for misrepresenting the situation.

Prince Carl Philip's design company, Bernadotte & Kylberg, has turned a significant profit of 3.1 million SEK, following a previous loss. The company's success is attributed to its focus on developing its own brand, which includes high-end products like drink cabinets and brass candle holders. All profits are being reinvested into the company.

Gekås Ullared, a popular Swedish department store, has started selling Christmas decorations in July to meet customer demand. Despite the summer heat, the store offers a full range of holiday items, catering to visitors who travel long distances and shop only once a year.

Housing prices in Sweden continue to decline, with no signs of recovery, according to SBAB's chief economist Robert Boije. Despite lower mortgage rates, the market remains cautious due to global factors like US tariffs and geopolitical tensions. The trend is particularly evident in Stockholm, where house prices dropped by 3.2% in June. Further interest rate cuts may be needed to stimulate the market.

Unionen is suing Telia, claiming an employee was unjustly dismissed from the customer service department. The union argues that the dismissal lacked proper grounds and is seeking compensation for the former employee.

Ikea has filed a lawsuit against Biltema, seeking four million kronor for alleged copyright infringement. The dispute centers around two products that Ikea claims are copies of its iconic designs. Despite multiple warnings, Biltema continues to sell these items, prompting Ikea to take legal action.

Coop, once the largest retailer in the Nordics, has seen its losses more than double to 2.7 billion SEK in 2024. With shrinking market shares and no assets left to sell, the situation is dire, especially for Coop Syd in Skåne and Blekinge. The main organization, KF, also reported significant losses due to operational challenges at a new warehouse.

Klarna is accelerating its transformation into a digital bank, akin to Revolut or Chime, as it prepares for a second attempt at a U.S. IPO. The company has launched new products, including a payment card in collaboration with Visa, to strengthen its business model amid market challenges.

A heated debate erupted between Ica's vice CEO Fredrik Söderberg and Vänsterpartiet leader Nooshi Dadgostar over rising food prices at Almedalen. Dadgostar accused Ica of creating a private monopoly and threatened to break up the company if prices don't drop. Söderberg countered, stating Ica is not making record profits and is working hard to reduce prices.

The McDonald's in Töcksfors, Sweden, has been rated the worst in the country, with a Google rating of 2.3 out of 5. Guests criticize the restaurant for poor service and cleanliness. A member of the management team posted a positive review, which was later removed. The restaurant acknowledges the feedback and aims to improve.

Petter Stordalen, a prominent hotel owner, reveals his unique investment in a dog kennel, Kustmarken, which breeds guide dogs. He has even frozen his beloved dog's sperm to ensure a perfect future companion. Stordalen emphasizes the joy and non-monetary returns from this venture, highlighting his passion for helping others.

Chris O'Neill, husband of Princess Madeleine, launched Belgravia Advisors AB when the family returned to Sweden. Despite its focus on financial advisory, the company reported zero revenue for 2024, as anticipated by O'Neill.

Global markets are experiencing turbulence after a U.S. attack on Iran, with rising oil prices and a stronger dollar. Investors are anxious about Iran's potential response, which could disrupt oil traffic through the Hormuz Strait, affecting global inflation and growth.

Volvo has initiated an investigation after images surfaced of the Russian national ski team posing with a new Volvo truck, despite the company's halted sales to Russia. The truck, valued at up to three million kronor, raises questions about potential smuggling routes through the Middle East and Central Asia. Volvo is examining the truck's origins and considering actions against any contractual breaches.

Swedish electricity consumers are paying billions in fees, yet the funds are accumulating at the government agency Svenska kraftnät. Despite record-high bottleneck revenues due to regional price differences, the agency struggles to utilize the funds effectively. The current EU regulations restrict the use of these funds to grid improvements, not production, highlighting a need for policy change to enhance local energy production and ensure a robust power system.

Skistar reports a strong winter season despite warm spring weather, maintaining stable prices for the upcoming winter. The company saw a 10% profit decrease in Q3 but experienced a 7% increase in operating profit over nine months, driven by a rise in international guests. New flight routes to Sälen and increased summer bookings highlight growing interest in Swedish mountains.

McDonald's Sweden is reaching out to 123,206 high school seniors with 'The Green Envelope', offering ten practical tips to help them transition into the workforce. This initiative addresses the knowledge gap revealed by a survey, where many students feel unprepared for employment. The effort aims to provide clarity on job expectations and employee rights, fostering a smoother entry into professional life.

Coffee prices, which have soared due to inflation and poor harvests, are expected to decline, according to analyst Torbjörn Iwarson. The surge in prices, partly driven by increased demand in China, reached a peak in February. With new growers entering the market and economic conditions stabilizing, coffee prices are predicted to decrease by 2026.

Billionaire Sunjay Kapur, a friend of Prince William, tragically died after swallowing a bee during a polo match in Windsor. The incident led to an allergic reaction causing his heart to stop. Kapur, CEO of Sona Comstar, was valued at $1.2 billion and was known for his connections with royalty and his philanthropic efforts. His sudden death has left a significant impact on his community and the business world.

A recent survey reveals that 7 out of 10 HR managers in Sweden believe working at McDonald's is valuable for future careers. The fast-food giant is praised for teaching young employees leadership skills and providing a gateway into the workforce. Maria Lindqvist, HR manager at Hjelte AB, highlights McDonald's inclusive environment and the success stories of employees who have advanced within the company or used it as a stepping stone to other careers.

The Swedish government plans to ease mortgage amortization requirements, as revealed by Finance Market Minister Niklas Wykman. While a complete pause on amortization will not be implemented, the proposal aims to adjust and lighten the current rules. This move is seen as a balanced approach to maintaining financial stability while addressing the challenges faced by certain groups in the housing market.