Swedish Market Economy: March 2015

Tuesday, March 31, 2015

Bankpampen loses his job – after Snapchat pictures – Business Week

Rory Cullinan sent some pictures of Snapchat to his daughter – now he gets to the top job at RBS.

Rory Cullinan, Royal Bank of Scotland (RBS) Executive Chairman of Corporate & amp; Institutional Banking & amp; Capital Resolution. Now, however, he lost his job – perhaps because of Snapchat. In early March, it was reported in the British media that the Cullinan sent a series of images through the app to his 18 year old daughter Bridget, where he expresses how bored he is on the job.

Snapchatbilder is usually only the second sender determines that they should get displayed, but Cullinans daughter took screenshots of the images and put these up on Instagram. In the pictures had Cullinan wrote things like “Not a fan of board meetings,” “Boring meeting” and “Still a hell of a meeting.”

READ ALSO: 5 tricks to avoid meetings nobody wants

The images themselves are perceived by most as normal and quite fun. “Typical images a parent would send their child during a break at work”, says Business Insider.

However, this seems RBS does not agree with. Just weeks later informed the bank now Cullinan will resign already April 30. That he would leave does not seem to have been planned before the images, then Cullinan as late as March 4 had far-reaching mandate to restructure the entire RBS’s investment banking part.

RBS notice did not state why the Cullinan now forced to leave Bank. The reactions to the images have, however, been strong in some quarters.

“The pictures are a slap in the face to taxpayers who own 80 percent of the falling bank, and likewise to those employees who risk having to leave,” said John Mann, politicians within the Labour Party, told The Sun. “He should get rid of all their bonuses from the time he worked in investment banking. Every single penny.”

There are many questions surrounding the sudden finish. The Guardian believes that disagreements with President Ross McEwan got Cullinan to voluntarily leave, but others point to his new project and believes that the Cullinan would not have made it if that was the case. That leaves just Snapchat-images and the following criticism from a large number of politicians.

READ ALSO: Sacked after having skipped the job for 24 years

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as a brave general in the war “- Swedish newspaper Svenska Dagbladet

Has life any sense? What is truth? They and a few others count as the eternal questions of philosophy.

Since 1955, one of the VCC’s line corridor in Gothenburg adds yet another:

Factory Building in the US – or not?

Monday, March 30, 2015, we received the answer, here in telegraphic form: VCC must be from its own resources to build a new assembly plant in the United States. Cost is just over 4 billion STOP. Decisions exactly was expected within a few months STOP. The plant will have a capacity of 120,000 cars and be ready in summer 2018 STOP. The decision was taken at Volvo’s latest board meeting two weeks ago STOP. This would give Volvo a fifth assembly plant after Gothenburg in Sweden and Gent in Belgium – Chengdu and Daqing in China STOP.

US adventure began September 20, 1955 when a first stooped and FISHEYED PV 444 lifted off on American soil from the Johnson Line M / S Canada. Then it became the United States, along with Sweden, Volvo’s largest market.

But the dollar rate restless movements transformed the dream in the West to a constantly ticking time bomb. It has previously been at Volvo Cars said that every lost crown in the dollar meant a loss of nearly 3 billion annually and former CEO Fredrik Arp said that Volvo only make money in the US only when the dollar gone over SEK 7.50.

Factory The news is a necessary force vengeance. But why did it now?

First, Volvo must do as a brave general in the war – self go first in line to reverse a catastrophic development. In the US dealers themselves take great expense when Volvo now to pick up a market that halved to around 58,000 cars annually since 2004, when the old XC90 was at its peak. With the new XC90 and V90 at the time, the goal of “middle-long” term to up to 100 000 cars. Since even more.

“Factory news is a necessary force vengeance. But why did it now?”

It is also likely Volvo wants to put a stumbling towards emerging markets Brazil through a new US factory. It has previously been speculated about a factory in South America and an event that looks like a thought is that Hakan Samuelsson recently placed the experienced Lex Kerssemakers as head of the “Americas” which includes both North and South America.

other major reason is simple: Volvo Cars has until now been fully locked in resources, focus and money with the two factories in China, and the new so-called SPA platform and engine family. Unlike in China, where the assembly plants was paid by Geely and different Chinese regions, Volvo must now take anywhere from own cash flow and loans. And only last year, Volvo PV cautious profit – and can afford.

A fourth reason is that Volvo, apparently, had been slammed to entertain themselves with any other manufacturer in the US – where fear of technology theft to China is great.

Volvo is late out of the starting blocks compared to the competition. BMW builds since 1995 big SUVs in Spartanburg, South Carolina. That same year, the Mercedes slammed up its plant in Tuscaloosa, Alabama and just completed three weeks ago stressed Mercedes, Volvo, by adopting a second factory in South Carolina. Audi and Volkswagen, decided in 2013 on a factory in Mexico.

Lars Wrebo repeat a mantra: “You have to produce the car where it is sold.” And exactly where they ought to employees in Sweden tighten up the ears: With growth in Asia, India and South America and factories from 2018 in both the US and China – should we be concerned about jobs in Sweden and Ghent? The answer is no short and medium term but in the long term, the answer should be yes. Torslanda has a capacity of 300,000 cars and Ghent, Belgium 270 000 cars – and in a mature European market selling Volvo only around 240,000 cars.

The gold will rise to more than $ 1,300 per ounce – Dagens Industri

“The extent of quantitative relief outside the US, geopolitical developments, India’s liberalization, consumer demand in China and the problems in the eurozone will all be supportive for gold,” writes Standard Chartered in its report.

Michael Widmer, analyst Bank of America, parts Standard Chart Reds’ perceptions and says he expects an average price of $ 1,300 per ounce in the fourth quarter as the effects of the Fed’s interest rate increases slowly begins to decline.

The gold, which fell with 3.4 percent in March and thus was noted for its biggest decline since December 2013, was traded to $ 1,179.62 per ounce on Tuesday.

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Gloomier than ever for Greece “- Swedish newspaper Svenska Dagbladet

Again ticking clock for Greece, again stands Athens with his back against the wall and will again unclear and often contradictory statement from the Greek line. It’s nothing new, but rather as a raspy old gramophone record stuck in a groove.

But this time it looks bleaker than ever. The Greeks both tax strike, and lift out billions from the banks while the Greek state raiding – officially borrow – the social security system in order to pay salaries and pensions.

Sooner or later take the money out. Many believe that it can happen as early as 9 April, when Greece must repay a loan of EUR 450 million to the International Monetary Fund. The Orthodox Greek Easter weekend starting April 10 means that the banks are closed for four days, a perfect opportunity to introduce capital controls if required.

Cyprus did it 2013. Then coiled length queues in front of ATMs where outlets were limited. Border controls were tightened and financing of import and export business hard reviewed. Today, two years later, parts of restrictions still in force, while others have been abolished. The road back to normalcy therefore risks becoming long.

It is unclear whether Greece is in the same acute forced position. Two months after the election, no one seems to know exactly how the public finances looks. Representatives of the IMF, the ECB and the EU as the other day was in Athens had to travel back home with empty hands.

Excluded can not Alexis Tsipras paints a drastic horror scenario to put pressure on the finance ministers of the euro group that determines whether, and if so when, Greece can count on the support of 7.2 billion euros that is left from the 2012 crisis program.

Would this be Tsipras calculus, it has already ruptured. The Eurogroup is more determined than ever not to pay out a single euro until Greece started to translate reforms.

This is where the big challenge for the left-wing leader Tsipras is. Or as former Prime Minister Antonis Samaras mocked in Monday’s parliamentary debate: “Tsipras thought that he would get the money without conditions. Instead, he received condition with no money. “

Reform list Eurogroup has been waiting for weeks and now there is still unclear. It consists primarily expected revenues through tighter fiscal controls and recovery of tax debts – amounts to just hope for.

Tsipras know probably is not enough. In contrast, he does not know how he will back down from its election promise to break with the austerity policy and the old government’s reform promises. The question is, in other words, is he tough enough to confront the strong left wing of SYRIZA and risk the government collapses? Or he plans to go over with flying colors and indomitable will to resist?

he chooses confrontation, he should do it in a hurry, His popularity is still strong but has begun to fall, it would be an election today would SYRIZA according to the latest measurements get more than 40 percent of the votes – more than in the last election and perhaps enough that after a new election to make itself of the ultra-left, which today is a party in the party.

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Skandia Customer card purchases deducted twice – Swedish newspaper Svenska Dagbladet

According to the bank do not know how long it will take to fix the problem.

– We are working to find a solution, but it may take a week before it is in place, says product manager Johann Cervall to SVT.

A lot of irate customers have contacted us to Skandiabanken, who state that as many as one in ten card purchases have been deducted twice. Skandiabanken will not charge any fees if the problems leading to overdraft of customers’ accounts.

No solution in TV Channel dispute between Telia and SBS – Swedish newspaper Svenska Dagbladet

Both companies regret that customers affected, but Telia claims that they can not accept the package of channels broadcasting company wants to sell and SBS points out that they want a fair valuation of its channels.

– We are far in from each other but we have not closed the door, says Irene Krohn at Telia.

She would not call it a chicken race (who turns down first?) between the companies, but this type of negotiation game is not completely unusual in the industry, and the result is usually sooner or later become a new agreement.

In addition to Channel 5 and Channel 9 also disappears Eurosport, Channel 11, Discovery, Animal Planet and TLC.

The CEO who espouse Saudi listed companies – Swedish newspaper Svenska Dagbladet

East Capital launched in December last year, a new fund with a focus on so-called frontier markets. Frontier’s stock markets that are too immature to be called emerging and there are countries like Argentina, the new Asian Tigers Pakistan, Vietnam, Bangladesh and Sri Lanka, and some countries in Eastern Europe, Middle East and Africa

The fact that they is undeveloped, the risk in these markets is higher than the classic emerging markets. That they are undeveloped can be either the national economy works much, or how the stock market works, or both.

Saudi Arabia has yet not managed to enter the Frontier Club (defined of which countries are included in the MSCI Frontier Markets Index) which is due to the stock exchange are not available for direct investment by foreign investors.

But you can as foreign investors to trade through a kind of depository receipts and it is in this way that East Capital Frontier fund invests in Saudi Arabian companies.

– There are many interesting Saudi Arabian companies. They we’re looking at is often entrepreneurial and have exposure to the emerging Saudi middle class, says Peter Elam Håkansson.

The trend with a growing middle class is familiar from elsewhere, says Elam Håkansson and mentions Asia, Eastern Europe and Latin America.

– There is a global phenomenon and now we see the same tendency in parts of Africa and the Middle East.

Some of the Saudi Arabian company East Capital invested in the training company Al Khaleej Training and Education, the fast food chain Herfy Food Services and Jarir, which is a Saudi variant of French Fnac.

– These companies are well positioned to move towards a young and growing middle class.

The Saudi Arabian stock exchange has a market capitalization of over 500 billion dollars (4400 billion) and revenue of between around 2 billion dollars a day. Tasi index (Tadawul All Share Index) has risen by 20 percent from a low in December 2014, the last year shows a decline of just over 2 percent.

The stock market is, according to Elam Håkansson, more developed in Saudi Arabia than in many other Frontier countries and there are proposals to open Marketplace for direct ownership by foreign investors.

An important question is whether the country’s repressive stance on certain issues can affect Western investors’ interest in the Saudi stock market. East Capital’s own policy says they do not invest in companies involved in weapons manufacturing, pornography and tobacco.

How do you deal with the Saudi society’s attitude to professional employment for women and the effect it has on the Saudi companies ?

– We are in dialogue with the companies we have invested in how they work with the recruitment of women and it is an important issue for them. Unfortunately, women constitute still a small part of the working Saudi labor force as a whole, but it increases slightly, says Peter Elam Håkansson.

He mentions training company Al Khaleej, where women make up about 40 percent of the 4500 employees.

– Major investments have been made, and in education and Saudi women constitute more than half of the students in universities. A large percentage of those studying to become engineers. It also grows up special industrial zones that simplifies female entrepreneurship and there are several sectors where men and women can work together, such as in healthcare and IT, says Elam Håkansson.

Tesla releases new already about a month – but there will be no car – Business Week

Elon Musk tweeted out that Tesla will release new – already about a month. There will be a battery, said many familiar parties.

Tesla CEO Elon Musk has been twittered out news about the famous company. Musk wrote that Tesla will release a new “product” is already the 30th respondent April. Most of it is still a secret, but one thing is certain – it is not a new car.

The news has caused many to begin to speculate. Most familiar seems certain that there is a battery that will be released. The battery should be of the same type as the Tesla uses in their cars, think Business Insider, but would instead be used to power your home.

READ ALSO: Tesla expert: “Tesla becomes Once the new Volvo “

Earlier this year will Musk as saying during a call that his company will” showcase Tesla’s battery for the home, a consumer battery intended for use in people’s homes and companies, relatively soon. “

When this was said, it seemed however that the battery was completely clear. “We’re done with the design, and it should begin to be produced for about six months or so,” said Musk told Bloomberg in mid-February.

There are signs that indicate that there may be precisely this type of battery. The main reason is that the batteries for domestic use is expected to be produced in Tesla’s Gigafactory in Nevada. In the current situation this factory is not finished and Business Insider appreciate it impossible for Tesla to build enough batteries to drop them already about a month with only their old factories at hand.

Perhaps it is instead a different type of battery to be released? Musk has now given us a month to try to figure out what is to come.

READ ALSO: Musk’s promise: Tesla will sell self-propelled vehicles already in Summer

Monday, March 30, 2015

Volvo goes in both the US and Europe – New Technology

Five questions for Stefan Elfstrom, spokesman for Volvo Cars, relating to the erection of a new car plant in the United States.

Vilka car models are you planning to build there in the future?

– US factory to build cars at our new SPA platform but we can not say today what models it is about.

(SPA stands for Scalable Product Architecture and the first car built with the platform’s XC90)

When should plant in the United States be ready?

– until 2018.

Hur you see in the US market?

– It’s a tough market but not tougher than Europe or China. Volvo is very competitive in the US, with local produce with a wider product range, our plan is to reach up to 100,000 cars per year in the medium term realistic.

What locations do you have to choose from?

– We are currently negotiating with a number of US states, and a notice of the production location will be within two months. For our US customers and resellers, this is an important signal that we are investing long term in the US, which creates confidence.

Is the “chicken tax” left? Thus customs fee / penalty tax on foreign cars.

– Yes, there is still an import tax for trade with the US, and this is discussed in the moment between the EU and the US. This is yet another reason for the local production, but the main reason is that it should produce, selling, and cing where they produce; that is to say with a great locally produced content in cars lowers their costs and safeguard profitability, regardless of fluctuations in exchange rates. However, we will continue to manufacture the engines in our Skovde Factory.

Stefan Elfström state that the US venture will not affect plans in respect of plants in Sweden and Belgium.

– You can also add that this new plant will not affect our plans for European factories. That is, we start up a third shift in Torslanda shortly and invests in Ghent plant with the new compact platform (40 series).

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Financier who espouse Saudi listed companies – Swedish newspaper Svenska Dagbladet

But you can as foreign investors to trade through a kind of depository receipts and it is in this way that East Capital Frontier fund invests in Saudi Arabian companies.

– There are many interesting Saudi Arabian companies. They we’re looking at is often entrepreneurial and have exposure to the emerging Saudi middle class, says Peter Elam Håkansson.

The trend with a growing middle class is familiar from elsewhere, says Elam Håkansson and mentions Asia, Eastern Europe and Latin America.

– There is a global phenomenon and now we see the same tendency in parts of Africa and the Middle East.

– These companies are well positioned to move towards a young and growing middle class.

How do you deal with the Saudi society’s attitude to professional employment for women and the effect it has on the Saudi companies ?

He mentions training company Al Khaleej, where women make up about 40 percent of the 4500 employees.

State of consumptive impaired – Swedish Radio

State for one of the people who fell ill with pneumonia during the construction of Gärstadverket in Linköping has deteriorated. The patient was moved Friday to a special unit at the Karolinska Hospital in Stockholm.

The patient is cared for now in a so-called ECMO machine used for particularly difficult cases. According to the county medical Britt Åkerlind in Region Östergötland, these are on a normal pulmonary inflammation-bacterial, affecting this particular person extra hard.

It was just over a week ago that several people working on the new Lion boiler at Gärstadverket, fell ill with pneumonia. In total, six people received hospital treatment for the disease. Some new serious cases have not been discovered, and according to British Åkerlind it is now believed that the spread will be over.

Experts warn: “Do not tie any loan” – Swedish newspaper Svenska Dagbladet

In the wake of Riksbank’s lowering of the interest rate minus the bank after bank lowered mortgage rates. Although rates have fallen overall, it is mainly loans with longer periods that have fallen more than floating rates.

Danske Bank last drop means that the company now has the lowest list prices for loans with periods up to five years. Periods of between one and three years gives an interest rate of 1.75 percent, while five years gives 2.15 percent.

Sleep economist Christina Söderberg by comparison service Compricer found that Danske Bank’s substantial reduction with 50 points on three-year loans means that these are now at a record low.

– In 2009, the three-month interest rates down lower than current interest rates – but the three-year rate never went below 3 per cent then, she says.

The maximum reduction the past week, second Danske Bank, SEB and Länsförsäkringar for both gone down by 20 basis points each to 1.92 and 1.91 percent.

The listed interest rates says certainly not what the real interest rate will be. But one reason why the banks have adjusted down long-term interest rates so much could be that they want to mortgage customers will fix the interest rate. The chief executive Ulrica Proud Kirkegaard said, for example, recently SvD Business to advise their clients not to have all mortgages with three month duration, but instead spread the risks by having different fixed-rate periods.

– Yes, banks want us binds our loans more than we do today. It will be easier for them to plan and often we pay a little more on fixed-rate loans than on moving, says Christina Soderberg at Compricer.

She also thinks that it is a clear sign of that banks believe that the Riksbank will leave the interest rate low for a long time to come.

The personal financial analyst Ylva Yngveson mean that Danske Bank may have read of the market, what borrowers bargained to, and want to create a market advantage by going out with such a large reduction.

– To have customers with fixed loans are so clearly positive for a bank’s financial planning, she says.

Historical have it almost always paid off with variable mortgage rates. But the starting position is a little different today with longer periods at or near record lows. For mortgage holders who believe that interest rates are likely to rise a lot in the long term, long periods be a smart choice in comparison to shorter. At the same time the current uncertainty in the global economy there is reason to be cautious.

– For those with large variable loans or who are about to buy new, a mixture between three-month, three- or five-year and eight- or ten-year bond be an option. In any case, Danske Bank’s cut is a good starting point to be able to bargain in other banks, says Ylva Yngveson.

Anyone who chooses various durations should however note that there can mean a lock-in effect if you would like to switch lenders, because it is not certain that it is possible to move only a portion of a loan.

– Do not tie the interest rates beyond what you plan to stay in your current residence. Are you moving and have a fixed-rate loan, you pay interest compensation. It is sad and something you will not have variable interest rates, says the private financial expert Annika Creutzer.

But there are other reasons to commit mortgage rate.

– I think you should see fixed loans as an insurance policy. Bind the interest rate you get an assurance that the interest rate will not be higher. And right now the insurance premium is very low.

The OECD suggests higher teacher salaries – Swedish Radio

To Swedish economy to continue to grow requires, among other things, more flexible starting salaries in the labor market and investments in higher teacher salaries. It writes the OECD in a new report on the Swedish economy.

Although the Swedish economy has fared relatively well through the global economic crisis, there are major challenges to clear welfare ahead, says the West’s economic cooperation organizations OECD, which in its report today came with a series of recommendations to the country’s politicians.

OECD points to the collapse in the PISA results among 15- year olds. It must be stopped if Sweden would be in the forefront and create jobs in the future, according to the OECD. They recommend raising the teaching profession status, including higher wages and better career opportunities.

Earlier and better support for the weak and vulnerable pupils needed, and efforts to better Swedish for immigrants.

In the labor market indicates the OECD that there are large differences between permanent and temporary staff. Temporary jobs often go to vulnerable groups that may be difficult to enter the labor market permanently.

If protection for permanent employees relaxed and starting salaries more flexible, it may help to young, less educated and immigrants to enter the labor market, believe the OECD.

Other recommendations including Finance Minister Magdalena Andersson received by OECD Secretary-General Angel Gurría at a seminar in Stockholm today was to phase out the Mortgage Interest Deduction, allowing the Riksbank to continue their lågräntepolicy and to support research and innovation

The Swedish economy may also praised by the OECD. Quality of life is high and Sweden has managed to have a greener, more environmentally friendly growth than other countries. Sweden is also one of the countries that fared best by the recent global economic crisis.

Åsa Nilsson Rönnqvist
asa.ronnqvist@sverigesradio.se

Skagen bottom fishes in Brazil – Private Businesses

“Petrobras has become very unpopular and we have purchased an item to keep us informed. You should buy oil shares after, not before, the price of oil has fallen,” said Skagen manager Stensrud Bloomberg .

Kon-Tiki fund’s holdings now represent one percent of its managed assets of 51 billion Norwegian kroner. Calculated on Petrobras current market capitalization of about 300 billion NOK, a fund owns about 0.2 percent of the company.

Petrobras is not the only Brazilian company which has attracted Christopher Stensruds interest: The Fund has also invested the retailer Cia Brasileira de Distribuicao and increased its holdings in mining company Vale.

“The values and the currency is low in Brazil, which is an advantage for those who compete against imported goods. And better regulation can lead to a revaluation of companies, “motivates him.

In other mentions Bloomberg article that Kon-Tiki sold Heineken shares in February, owns shares of ABB and AP Møller-Maersk, and reduced its exposure to India after the stock market which valued up lately.

DI: Buy the pharmaceutical company continues the high score – Private Businesses

writes Monday’s edition of the Times. Among plus arguments noticeable reliable main shareholder with good track and that the company has great potential for growth through acquisitions, where the next big purchase can be made in the United States. Moreover, one of the business strengths that it is non-cyclical in nature, says the newspaper.

On the minus account harbors a fairly high score, margin pressure in the sector and that there is already high expectations for further acquisitions.

The bottom line is, however, Recipharm growth journey only in its infancy when acquisition opportunities as well as consolidation in the pharmaceutical manufacturing industry is large, according to Dagens Industri.

Börsveckan: Buy Fenix Outdoor, Mr. Green and Lundin Petroleum (Cont’d) – Dagens Industri

Börsveckan: Buy Fenix Outdoor, Mr. Green and Lundin Petroleum (Continued)

2015-03-30 09:40

(Adds details in paragraph three) (SIX) Börsveckan recommends buying the Fenix Outdoor, Mr. Green and Lundin Petroleum. It appears from the magazine's latest issue. Fenix Outdoor has a low score, but a certain discount can also be justified in the company's international market, consider the newspaper. Mr. Green has proved "undeniable impressive" growth and is said valued low to be a growth company with a P / E ratio of 10-13. Then Börsveckan based on earnings per share of about 3 dollars for 2015 and four crowns in 2016. Lundin Petroleum also considered as an attractive investment, as well the short and long term. On the upside, there is an increased production of 2015, strong balance sheet and large supplies of Johan Sverdrup field. For probi, Elekta, and Sports Amore's recommendation to wait. Despite Probi's success in the stock market are expected on the one hand new introductions provide good chance for high growth for next year, but at the same time questioned the forecasted estimated P / E ratio of 30th Elekta is considered to have a reasonable valuation given falling economic growth in several key markets where an internal savings are not helps. Sports Amore may find it difficult to reach its growth targets and therefore awaits Börsveckan further indications of improved financial performance. Börsveckan also analyzes the three company Hexpol, Arcam and SSAB. HEXPOL is well placed to continue on its growth path, with a strong balance sheet and major acquisitions capacity. Arcam's "sky-high valuation" Unable to defend given the prevailing growth forecast unless the company shifts from small-scale to large-scale production. Primarily suited shares of the real enthusiasts. Furthermore fit SSAB's share for those who believe in the coming year underlying earnings. However, there is great uncertainty and with continued weak economic outlook and depressed prices look magazine no buying opportunity in the stock. The magazine makes no changes to the portfolio this week. Gabriel Cardona Cervantes mailto: gabriel.cardonacervantes@six-group.se www.blogg.six.seSIXNews SIX News

The leaves welcome help from Bildt – Aftonbladet

NEW YORK. Today lobbying Stefan Löfven hard in the UN högkvareter for Sweden to reach a place in the UN Security Council.

While it is clear that the government takes the help of his old opponent, Carl Bildt (M) in the fight.

– It is obviously good to those who have been previously looking to take a straw to the stack, said Löfven.

On Sunday landed Prime Minister Stefan Löfven in the US for a three-day visit. The Prime Minister will direct from China, where he met the president and prime minister.

After starting the US visit with a visit at the inauguration of Edward M Kennedy Institute in Boston he met Aftonbladet for an interview outside his hotel in New York.

Today, Löfven visit the UN headquarters in Manhattan, where he is invited to speak at the Economic and Social Council, ECOSOC.

– I’ll talk about “decent work “, I think it’s incredibly important that we talk about the global labor market. We need to ensure that developing such as is good for all workers, for it serves both wage earners, companies and countries, he said.

“We have a good reputation”

But the journey is also important in light of the Swedish government’s campaigning to reach a åtrovärd place in the UN Security Council 2017-18. Already last fall, it was concluded that it is the overall main objective for Swedish foreign policy going forward.

Later today organized a mingling of the Dag Hammarskjöld Foundation. There are all countries’ UN ambassadors invited and Löfvens lobbying campaign can continue.

Recently, support for Sweden, however, has fallen in parts of the world, after that relations with Saudi Arabia reached the freezing point. Over the weekend, it was clear that the country is once again sending its ambassador, who had previously called home to Stockholm.

Löfven believe that Sweden would do a good job in the Security Council.

– We has long had a good reputation and a good history of UN involvement. There are many countries that obviously think it’s important, he said.

Should meet vide president

It is not until the next year that the final decision on which countries get seats are taken. Sweden fought mainly against Italy and the Netherlands to pinch one of the European places.

– But we know that this is extremely tough, there are two really good countries. We should know that it is very tough but we will do this in a good way, says Löfven.

Last night revealed Foreign Minister Margot Wallström (S) to a trio Swedish former top politicians have been appointed honorary ambassadors will help in the work of the Swedish candidacy. It’s about Carl Bildt, Minister Goran Persson and Schori.

– It is obviously good to those who have been previously looking to take a bit. All forces are of course welcome to contribute. It’s like saying a very tough match, so here you have to all do their best.

Tomorrow Löfven on to Washington DC where he will meet with the US Vice President Joe Biden.

– We will talk about security issues, Europe and the situation in Syria, says Löfven.

Sunday, March 29, 2015

Volvo owners are investing in London Taxi – Swedish newspaper Svenska Dagbladet

Geely became the sole owner of the taxicab company in 2013 after the British company got into financial crisis.

The expansion will take place near the present plant in english Coventry, where taxis built in almost 70 years. A new plant will increase capacity tenfold to 36,000 cars per year from 2018 and can provide upward thousand jobs, Geely writes in a press release.

“This investment will secure the future of the London Taxi. The company is an important part of our global cars strategy, “said Geely founder Li Shufu, according to the press release.

Newly appointed Carl-Peter Forster, who is advising the Geelygruppen and sit in Volvo Cars, Board of Directors, the new Chairman of London Taxi.

The plans include an electric taxi to meet new demands from the Mayor of London to lower emissions until 2018.

How investment totaling £ 250 million to be funded is not clear.

Geelygruppen own except Volvo Cars and the taxi company, even the Chinese car maker Geely Automobile. For Geely Automobile was tough last year with sharp decline in sales.

New technology can stop pretty role – Helsingborgs Dagblad

“It teaches the take awhile to process the data set,” you think now.

The answer from Stefan Jung, head of Ericsson’s security products, is under the draw in Kista mildly surprising:

– We can sign all data on the internet for one second, he says shortly.

The so-called KSI technology from the Guard Time is a wet dream for all mathematicians, but very simply, that each data file gets an ID label or signature with three unique characteristics: the time it was created, a mathematical proof that the file has not been altered or tampered with and who created it. The evidence that is created is universal and can be witnessed by everyone, there are no keys in the system so that no need to rely on someone else to ensure what is true or not. For example, if an Excel file is changed, it must be signed again.

If someone tries to get into an unsigned file in a computer or network alarm goes off immediately and intrusion attempt can be stopped. It is unlikely that any nätskurk would send malicious code in a signed file that can be traced to the author.

– You can never falsify history. We simply can prove what is true on the internet, says Stefan Jung.

Ericsson launched the new technology at Mobile World Congress in Barcelona a few weeks ago and expects to have it in operation during the third quarter of this year.

It is sold is a KSI client that signs the files and the potential buyer is telecom and broadband operators, banks, insurance companies, government agencies and all others who are interested in secure data. As an ordinary consumer can take advantage of the technology if it is provided by your mobile or broadband service provider.

One of the major advantages is that the technology is not based on encryption. When the whistle-blower Edward Snowden stole documents from the security NSA, he had come across a fellow worker’s encryption keys and he hid the interference by changing the system’s log files.

– Snowden had been detected directly with this system, says Stefan Jung.

The technology can obviously be used to reduce the role’s pretty activities and the whole problem of phishing when authenticity can be verified and the sender traced. But does this mean the end of anonymity on the Internet?

– It depends on how the technology is implemented. We see this rather as a way to ensure that personally identifiable information is handled correctly in relation to laws and regulations, and that it can be proved, which is basically impossible today.

US: Revised GDP rose by 2.2% annual rate 4 quarters (Cont’d) – Dagens Industri

US Revised GDP rose by 2.2% annual rate Q4 (Continued)

2015-03-27 13:35

 (Supplement the last paragraphs)       (SIX) US GDP grew by revised 2.2 per cent during the  the fourth quarter of 2014, compared with the previously  assessment of +2.2 percent.       GDP deflator was measured at +0.1 percent annual rate, which may  compared with the previous assessment was +0.1 percent.       The market had expected a GDP growth of +2.4 per cent and a  GDP deflator +0.1 percent.       The GDP deflator is an inflation measure that takes into account  price changes in producer and consumer.       The outcome for private consumption in the quarter revised up to + 4.4  percent (previous outcomes +4.2 percent).       The outcome for inflation measure, the core PCE, amounted to +1.1 percent  During the quarter, which was unrevised.       Corporate profits after tax fell by 3.0 percent in the fourth  quarter compared with the previous quarter, which was the largest  quarterly decline since the first quarter of 2011.   Corporate profits rose by 2.9 per cent, compared  with the level of 5.1 percent in the third quarter.      Erik Palmung +46 31 350 64 86  mailto: erik.palmung@six-group.se  www.blogg.six.seSIXNews  SIX News

Electric bike is becoming increasingly popular – Helsingborgs Dagblad

Stenberg also points forward elcykeln as a means of transportation for commuters who need a little exercise but do not want to arrive sweaty to work.

– People are starting to bike commute from all long distance and then it might be nice to have some help sometimes when you come to an uphill battle.

There has also been a technology development. The batteries have improved and there has been new, more efficient drive systems. The major bike manufacturers, including Crescent and Monark, now has electric bikes in its range. But one must be prepared to pay more for an electric bicycle. Prices start at 10 000 and they are e-bikes, which costs 25,000 to 30,000 crowns.

Rebecca Karlsson has owned an electric bicycle since 2010 and speaks warmly of its benefits.

– You do not need a parking space so you can stay anywhere in the town. You do not need separate insurance and you do not have to wait for the train and bus.

TT: But that fits well into a regular cycle?

– Yes, but you are more inclined to take the bike even when the weather is bad, the threshold will be lower. And you also get exercise because it tramples all the time, says Rebekah.

– And it goes faster, which annoys some.

GOVERNMENT: RAISING THE TAXATION OF INVESTMENT SAVINGS ACCOUNT – Dagens Industri

GOVERNMENT: RAISING THE TAXATION OF INVESTMENT SAVINGS ACCOUNT

2015-03-27 13:20

 STOCKHOLM (AFX) The government raises the taxation of savings on investment savings account and endowment
  It said Finance Minister Magdalena Andersson and Minister for Financial Per Bolund at a press conference on Friday.
  The Government notes that the taxation of savings on investment savings account and endowment based on a standard return that meets government borrowing.
  The return on the types of assets that can be stored in the accounts exceeds However, government borrowing, which means that savings is tax-favored relative to conventional capital taxation.
  In recent years, sharply declining state loan interest savings arrangements made even more favored. For the flat-rate yields better reflect the actual return is suggested that the standard yield is calculated by dividing the capital base multiplied by the government lending rate increased by 0.75 percentage points.
  "For it to not be too low at a very low government borrowing should  be standardized returns, however, is estimated to be less than 1.25 percent of the capital base," the Treasury said in a statement.
  The proposal is expected to increase tax revenues by 2 billion in 2016.

Macro Editor +46 8 5191 7931, http://twitter.com/makroredaktion
Direkt

Saturday, March 28, 2015

HIG Capital defends the taxi business – Swedish newspaper Svenska Dagbladet

The union fears that the new owner will push drivers leading to poorer service. The deal also raises amazement as the industry according to the union tussle with small margins.

But HIG Capital intends to make money by investing in new technologies that create growth and increase service levels.

– We get no good driver if we lower wages, we get no good driver if they’ll run around the clock and we get no good racers if we give them bad terms. So we need to reverse it where reasoning, says spokesperson Ole Oftedal.

Earth Hour switch off lights and Social Media – Swedish YLE

Golden Gate bridge before the lights extinguished, 2009. Photo: courtesy of WWF Image: WWF

In the evening organized the annual event, Earth Hour.

WWF urges everyone to turn off the lights in the evening, starting at 20:30 Finnish time . New this year is that the WWF also urges people to avoid social media during Earth Hour.

Many restaurants arrange ecological dinners by candlelight in the evening, and also many cities and companies are involved in the campaign.

Yle participate by turning off the tower in Pasila, with the exception of warning lights for aircraft.

This year, Earth Hour also about the food’s carbon footprint. According to the World Wildlife Fund is food for about a fifth of mankind’s carbon emissions. This can be influenced by replacing some of the meat with vegetables and not to throw away food unnecessarily.

Published 28.03. 2015 – 19:44

Sweden: Height taxation of ISK and endowment – Government – Dagens Industri

Sweden: Height taxation of ISK and endowment – the government

2015-03-27 13:08

 (SIX) The Government proposes increased taxation on investment savings account  and the endowment. The proposal is expected to increase tax revenues by 2  billion in 2016. According to a press release from  Government.       "Taxation of savings on investment savings account and  endowment based on a standard return equivalent  government borrowing. The return on the types of assets that can be  stored in the accounts exceeds However, government borrowing, which means that  savings is tax-favored relative to conventional  capital taxation. In recent years, sharply declining  State loan rates made savings arrangements even more favored. To the  flat-rate yields better reflect the actual  yields suggested that the standard yield is calculated by  capital base multiplied by government borrowing increased by 0.75  percentage points. That the tax should not be too low at a very low  government borrowing should be standardized returns, however, is estimated to be  less than 1.25  percent of the capital base, "writes the government.      Erik Palmung +46 31 350 64 86  mailto: erik.palmung@six-group.se  www.blogg.six.seSIXNews  SIX News