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Volvo's losses slow

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Volvo's losses slow

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Swedish lorry maker Volvo has announced a smaller third-quarter loss than expected at 322 million euros.

That eased fears it would need to ask for more cash from investors. However, the world’s second largest truck manufacturer said it still expects sharp declines in its main markets. Chief Executive Leif Johansson said: “We are in an upturn but probably a slow one.”