
Swedish Electrolux Q2 operating profit beats expectations
Operating profit at the group, whose brands include Frigidaire, AEG, Zanussi and Volta as well as Electrolux, rose to 797 million crowns ($81.9 million) from a year-earlier 419 million.
Analysts had on average forecast an operating profit of 710 million crowns, according to a poll provided by Electrolux.
($1 = 9.7272 Swedish crowns)
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Daily Mail
11 minutes ago
- Daily Mail
Dem senator agrees with GOP that Trump's making progress on trade war but others make grim tariffs forecast
A prominent Democratic senator is backing President Donald Trump 's trade war strategy, even as others in his party warn that looming economic fallout could soon hit American consumers and industries. Pennsylvania Senator John Fetterman, told Fox News Digital this week that the Trump administration's aggressive use of tariffs has been effective so far. 'Absolutely,' Fetterman said when asked if he believed the U.S. is winning the trade war. 'I'm a huge fan of Bill Maher, and I mean, I think he's really one of the oracles for my party, and he acknowledged it, it's like, hey, he thought that the tariffs were going to tank the economy, and then he acknowledged that it didn't,' Fetterman added. 'So, for me, it seems like the E.U. thing has been going well, and I guess we'll see how it happens with China.' Fetterman's comments come as Trump intensifies his tariff push. On Thursday, the 47th President signed two new executive orders - one raising tariffs on Canadian imports from 25 percent to 35 percent beginning Friday, and another modifying reciprocal tariff rates for countries with significant U.S. trade deficits. The White House cited Canada's failure to help curb fentanyl and other illicit drug imports as the reason for the increased tariffs. 'The goal is to secure fair, balanced and reciprocal trade relationships,' the White House said in a statement. The moves build on Trump's earlier decision this year to impose a baseline 10 percent tariff on all countries, with steeper rates for those running large trade surpluses with the U.S. Trump's recently installed tariffs took effect on April 9, and since then, the his administration has inked several major trade deals. During his second term, Trump and his administration reached a trade agreement with the European Union (EU) under which the E.U. committed to purchasing $750 billion in American energy and investing an additional $600 billion in the U.S. economy by 2028. As part of the deal, the E.U. accepted a 15 percent percent tariff rate. A separate agreement was struck with Japan, which pledged $550 billion in investments aimed at rebuilding and expanding key American industries. Japan also agreed to open its markets further to U.S. exports and, like the E.U., accepted a baseline 15 percent tariff rate. However, many top Democrats remain skeptical. While speaking with Fox News Digital, Rhode Island Senator Jack Reed cautioned that any short-term gains could be undercut by rising prices. 'Within a few weeks or months, you'll start seeing significant increases in most things you buy,' Reed said. 'And also, you will see disruption in terms of a lot of our industries, because they're not able to access product or supply.' Senator Chris Van Hollen, of Maryland, echoed those concerns, saying Trump's tariff strategy contradicts his campaign promises. 'This is the president who said he was going to come in and reduce prices. Prices are going to rise, and they're going to rise more over time,' Van Hollen warned. However, Massachusetts Senator, Elizabeth Warren, took a broader view, arguing that Trump's confrontational trade policies are pushing U.S. allies to look elsewhere for business. 'Donald Trump may beat his chest and say, "Man, I made him take a 15 percent tariff or 25 percent tariff," but also understand that every one of those trading partners is now looking hard all around the rest of the world to find other customers,' Warren said. 'The United States under Donald Trump is not a reliable trading partner. And that's not good for any of us.' Warren also linked the trade war to interest rate policy, blaming Trump's tariff decisions for the Federal Reserve's refusal to lower rates. 'Jerome Powell said last month that he would have lowered interest rates back in February if it hadn't been for the chaos that Donald Trump was creating over trade,' Warren said. 'And the consequence has been that American families have, for six months now, been paying more on credit cards, more on car loans, more home mortgages.' Republicans, however, are rallying behind the president's hardline stance. Texas Senator Ted Cruz called the strategy a 'big win'. 'I think it's exactly the right approach,' Cruz said. 'It's what I have been urging the president to do, and I think the successes he's winning are big wins for America.' Seemingly mocking Democrats' warnings of economic turmoil, and quoting the film Casa Blanca, Cruz added, 'I'm shocked, shocked that Democrats are rooting for the economy to do badly under President Trump.' 'It'd be nice if some Democrats would put their partisan hatred for Trump aside and actually start working together for American workers and American jobs. Unfortunately, I don't see a whole lot of Democrats interested in doing that right now,' he said. Louisiana Senator John Kennedy praised the E.U. deal and said he hopes it leads to what he calls 'ideal reciprocity'. 'Clearly, the president got a good deal from one perspective. The Europeans just caved, they did. Fifteen percent tariffs on them, zero on us, commitment to invest in our country,' Kennedy said. 'But the part of the deal I like the most - the E.U. and the president agreed that a whole bunch of goods would be tariff-free. That is, no American tariffs and no E.U. tariffs.' 'Let the free enterprise system work. May the best product at the best price win,' Kennedy added. 'That, to me, would be the perfect situation.'


Daily Mail
an hour ago
- Daily Mail
Ingenious ways to pass on your wealth inheritance tax-free - without turning your children into lazy brats
Many families would far rather pass wealth to the next generation than have it seized by the taxman but are wary of giving children and grandchildren too easy a ride. It's a classic conundrum. How do you give away your hard-earned money without undermining the values of hard work and financial responsibility you hope to instil in your offspring?


The Sun
2 hours ago
- The Sun
Major UK high street bank quits UN-backed net zero alliance as it says body ‘not fit for purpose'
A MAJOR high street bank has become the latest British lender to quit the Net Zero Banking Alliance, the bank said on Friday. Barclays argued that the departure of several global lenders has left it no longer fit to support the bank's green transition. Barclays' decision to quit the foremost banking alliance focused on tackling climate change follows on from HSBC and several major US banks. It also raises questions about the ability of the group to influence change in the sector going forward. The bank said in a statement on its website: "After consideration, we have decided to withdraw from the Net Zero Banking Alliance." It added that its commitment to be net zero by 2050 remained unchanged and that it still saw a commercial opportunity for itself and its clients in the energy transition. Earlier this week Barclays published the first update on its sustainability strategy in several years. It said the bank made £500 million in revenue from sustainable and low-carbon transition finance in 2024. Jeanne Martin, co-director of corporate engagement at responsible investment NGO ShareAction called the decision to leave the Net Zero Banking Alliance "incredibly disappointing and a step in the wrong direction at a time when the dangers of climate change are rapidly mounting." Barclays said the alliance was no longer fit for its purpose: "With the departure of most of the global banks, the organisation no longer has the membership to support our transition." The Net Zero Banking Alliance, a global initiative launched by the United Nations Environment Programme Finance Initiative, lists more than 100 members on its website - including leading international financial institutions. A spokesperson for the alliance said it remains focused on "supporting its members to lead on climate by addressing the barriers preventing their clients from investing in the net-zero transition." It comes after it was announced that Barclays is slashing interest rates on its popular Rainy Day for the third time in less than seven months. From August 4, the interest rate for balances up to £5,000 will fall from 4.61% to 4.36%. The Rainy Day Saver account, which offers easy access to funds, has been a favourite among Barclays ' 20 million customers. It is designed for balances up to £5,000, with savers earning the higher rate on the first £5,000 – currently 4.61%. Savings above this threshold earn just 1% interest, but customers benefit from instant access to their money at any time. At the current rate, holding £5,000 in the account would earn you £230.50 in interest over 12 months. However, when the rate drops to 4.36%, this will fall to £218 - a loss of £12.50 per year. Once boasting a competitive 5.12% interest rate earlier this year, Barclays has steadily chipped away at its appeal. In February, the rate dropped to 4.87%, followed by another cut in April to 4.61%. In February, the bank reduced the rate to 4.87%, followed by another cut in April to 4.61%. Now, just months later, rates are set to drop again, leaving savers questioning whether to stick with the account or explore better options elsewhere. How Barclay Card Changes Could Affect You ANALYSIS by Consumer Reporter, James Flanders: Barclaycard's change to its credit card repayment structure sounds great if you don't dig into the details. After all, Barclaycard says it's "making the changes to give you greater flexibility each month". In practice, it means that if you can't afford to pay off your balance in full at the end of each statement period, you can repay much less under the minimum repayment option than you have done previously. If you only pay the minimum amounts on occasion, this is super useful. But if you rely on this type of repayment plan in the long term, it could will cost you hundreds of pounds extra in interest. It could also negatively affect your credit file as it'll take you much longer to clear your debt. More interest will be applied to your outstanding balance, too, as less is paid down each month. For example, if you have a balance of £5,000 on a Barclaycard at 24% interest, where you only make the minimum payments and don't spend on the card. Under the old "2.5% of the balance plus the interest charged" rule, it would take around 14 years to clear the balance. In total, you'd expect to pay about £3,500 in interest. But with the new "1% of the balance plus the interest charged" calculation, it will take over 30 years to clear the same balance. You'd then end up paying a whopping £8,500 in interest. Before taking out a new credit card or increasing the amount you borrow, it's vital to consider the consequences. You should only borrow money if you can afford to pay it back. It's always vital to ask yourself if you actually need to borrow before committing to a new credit card, personal loan or overdraft. If you use a credit card, I'd recommend that you always pay off your balance in full at the end of each statement period. Lenders have a responsibility to help customers who are in debt. If you're in a debt crisis, your first point of call should be your lender. They might help you out by offering you a reduced interest rate or a temporary payment holiday - so check in with your lender if you're struggling.