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International Focus: Stockholm, Sweden


5G Boom Leads to Soaring Ericsson Profits

Stockholm telecom company Ericsson recently hit a fouryear high in profits and expects the number to continue rising, according to Reuters. Known for leading the world in broadband and internet telecom  equipment, Ericsson’s shares rose more than 3%, beating expectations for a fifth straight quarter. Its gains are due to North America’s high demand for 5G equipment.

 

Self-Driving Bus Launches Next Year

Transportation companies Scania and Nobina are developing two full-length self-driving buses for Stockholm set to launch next year, according to The Local, an online Swedish news site. The two electric-powered vehicles will cover a five km route through the Swedish city while being monitored by a backup driver. If accomplished, it will make Sweden the first country in Europe to have self-driving buses on its public roads.
 

Celebrating Gender Equality in Sweden

Stockholm’s businesses have continued working towards gender equality, with 100 businesses committing an equality initiative known as “A Woman’s Place.” According to Invest Stockholm, companies who pledge agree to make workplaces free from discrimination, close the pay gap between genders and work towards making the office inclusive for all. In CTA’s 2019 International Scorecard, Sweden’s work was recognized — the report gave the country an A A for Diversity and an A+ for Freedom.

 

Stockholm Startup Creates Market for Surplus Food

Karma is an app eliminating the 1.3 tons of perfectly-edible food wasted per year. The Stockholmbased app connects people, restaurants and grocery stores to each other, allowing members to buy and sell extra produce at half the normal price. The startup has already “rescued” 350 tons of food.


Amazon Eyes Stockholm

Not only did Amazon Web Services (AWS), the massive cloud computing provider, launch a new data center in Stockholm late last year, Forbes reported they bought three plots of land across Sweden around the same time. Stockholm marks the fifth AWS center in Europe. Amazon also plans to build eight buildings across the land it bought to develop warehouses, Forbes predicts.

 

Jeremy Snow

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