Sweden

Telecom operator TeliaSonera has given notice to 1,200 employees in Sweden as the recession continues to claim its victims, PC World reported. TeliaSonera is under pressure from trends including lower broadband tariffs and a move to mobile and IP (Internet Protocol) based services from fixed telephony, which is its main revenue source. The personnel cuts are part of a plan announced by TeliaSonera last February. The goal is to reduce its staff by 2,900 employees and save approximately 5 billion Swedish kronor (US$609 million).

Officials from four Nordic central banks and finance ministries held a private meeting in Stockholm on Wednesday to discuss their contributions to a $6 billion rescue package for Iceland, the Financial Times reported. The gathering was a strong sign that Denmark, Sweden and Finland are drawing closer to announcing a multibillion euro package of loans after Norway agreed a €500m ($648m, £405m) advance last week. The four Nordic nations have said they are willing to support Iceland but only after it agreed to design and implement an economic stabilisation plan in association with the IMF.