The Democrats' landslide victory in the US midterm elections could boost green technology and hurt tech giants in the AI sector in the world's largest economy. But businesses should not count on drastic tariff cuts or a shift in foreign policy toward the EU and Sweden, says Johan Karlberg, US director at the semi-governmental Business Sweden.
TechnologySteelmaker SSAB reports an operating profit of SEK 2.2 billion for the third quarter.
BusinessThe Stockholm Stock Exchange closed slightly higher ahead of the US Federal Reserve’s interest rate announcement. The OMXS index was up 0.3 percent at the close.
BusinessSwedish industry is coming under increasing pressure from China. Therefore, the rate of wage increases must slow down in this winter’s major round of wage negotiations, according to employers. And reduced working hours “has come to the end of the road” - a statement that surprises the union.
BusinessSSAB opposes the county administrative board's demand to further investigate the 34 cases of illness at the construction site of the new steel mill in Luleå this spring, reports Dagens Nyheter.
SwedenSSAB is seen as a winner after this weekend's revived trade conflict between the US and Canada. Tariffs between the countries - which are now being imposed - had eroded competitive advantages for the Swedish steel manufacturer.
BusinessThe Swedish AI company Lovable raises $400 million, equivalent to 3.8 billion kronor, in a new funding round, reports the Wall Street Journal, among others.
TechnologySSAB is resuming construction of its new steel mill in Luleå, the company writes on its website.
Sweden
