Error: Cannot open/read repomd.xml file for repository: updates

[Jon Ingason <jon ingason sentor se>]

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I just upgraded my FC6 to F7. When I try to do update of F7 I get
problem with Program Updater and Smart Package Manager. SPM does not
start at all while PU just tell me I it is unable to retrieve software
information etc. If I use yum update I get following error:

Error: Cannot open/read repomd.xml file for repository: updates

I google and got few hits which didn't help to solve this problem.

What is the problem?

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Regards

Jon Ingason
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