The Spring Budget On Wednesday (23rd March 2022), the Chancellor of the Exchequer outlined the UK’s full Spring Statement in parliament. Traditionally, the Spring Budget is considered the less influential of the two annual budgetary announcements (the other being in Autumn) but there were still substantial policy changes. Furthermore, ongoing inflation levels of 6.2% continue to add fears of ‘stagflation’ in the economy which the Chancellor is looking to alleviate. A ...
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On Thursday 24 March the BSCC, together with Elsa Arbrandt (Cederquist), welcomed the chamber members to a breakfast webinar on the impacts of the sanctions against Russia. Elsa began by giving a brief summary of the current sanctions against Russia and the countermeasures put in place by Russia. The EU, US and UK sanctions primarily concern asset freezes, financial transactions and service restrictions as well as trade restrictions concerning oil, steel, ...
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We are are always curious about the challenges and possibilities our member companies are facing within their industries. This week we are happy to share updates from TMF Group, Skanska and Linklaters. TMF group TMF Group has announced their expansion into Southeast Europe through the acquisition of the Bulgarian accounting consultancy, NOVACON Bulgaria OOD. This is an important step for the company’s growing presence in Bulgarian markets, as well as the broader ...
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Last week we had the great pleasure of having lunch with Sofie Zetterlund, Nordic Head of Marketing at Schroders. We took the opportunity to ask Sofie three questions to learn a little bit more about Schroders and to find out what Sofie thinks about the Chamber. How long have Schroders been members of the Chamber? We have been members for a bit more than a year. As a global leader in asset ...
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PM Johnson and PM Andersson Meeting On Tuesday (15th March 2022), PM Johnson and PM Andersson met following a Joint Expeditionary Force (JEF) summit in London. The British prime minister told the Swedish leader that the UK continues to stand in solidarity with the their Nordic partners in the face of Russian aggression. Additionally, the leaders discussed how Putin’s attack on Ukraine had led to a shift in European thinking. The two ...
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We are very pleased to welcome Gowling WLG as a new member company. Gowling WLG is one of the largest law firms in the world, with over 1,500 lawyers based in nine countries. Its roots were established in the UK in 1730 and in Canada in 1887. As well as its own offices, it had a large number of travelling country desk teams, which act as the travelling ambassadors for ...
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Businesses operating in Russia Since the collapse of the Soviet Union, in 1991, the expansion of Western companies into Russia has been considered a great business success with queues ‘around the block’ for the opening of some chains- such as the first ever McDonalds. However, due to the ongoing Russian invasion of Ukraine there has been a widespread corporate retreat from Russia for a mix of moral and economic reasons. Many ...
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On Thursday 10 March, the British Swedish Chamber of Commerce welcomed the chamber members to a panel discussion about why and how companies (and governments) must work together to reach the goals of the Paris Agreement. The discussion was moderated by Malin Lindfors Speace (CEO at Ethos International) and led by a panel of Stuart Templar (Director of Sustainability at Volvo Cars), Thomas Hörnfeldt (Vice President Sustainability & Public Affairs at ...
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Corporate Retreat from Russia Following the Russian invasion of Ukraine there has been a growing number of Western firms pulling, or scaling back, their operations from Russia. Over the last few weeks: Microsoft, Apple, H&M and IKEA have all suspended their operations in Russia. On Monday (7th March 2022), Sky News are reporting that PwC will be cutting their Russian firm adrift which will be considered the most significant exit of ...
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The British Swedish Chamber of commerce is very pleased to welcome GlaxoSmithKline (GSK) as a new Patron Company. GSK is a British multinational healthcare company headquartered in London. The company has a long history of over 300 years and engages in the research, development, and manufacture of pharmaceutical medicines, vaccines, and consumer healthcare products. According to Forbes, it is one of the top 10 most valuable drug and biotech companies ...
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