Investor AB, the investment group controlled by Sweden's Wallenberg family, on Thursday said it swung to a loss in the first quarter, mainly due to turmoil on the world's financial markets.
The Stockholm-based company reported a loss of 8.9 billion kronor (euro950 million; US$1.5 billion) in the quarter, compared with a profit of 7.3 billion kronor in the year-ago period.
Net asset value _ the value of the company's assets minus debts _ was 146 billion kronor (euro16 billion; US$25 billion) on March 31, down 10 percent from 163 billion kronor a year earlier.
"The decline in the financial markets had a negative impact on the value of most of …
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