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Offshore wind turbines outside Bunkeflostrand south of the Öresund Bridge. Johan Nilsson/TT 

 

Climate threat Global challenges  

Sweden one of four EU countries with the muscles to change  

 

Only 4 out of 27 EU countries have enough financial leeway to be able to comply with the financial rules, but at the same time reach the Union's climate goals and respect the Paris Agreement. This is according to a new report from the British think tank New Economics Foundation. This is after Brussels this week introduced new fiscal policy frameworks for the countries, writes Euronews.  

 

Sweden is one of the countries, along with Denmark, Ireland and Latvia. This means that the EU's largest countries do not have the necessary muscle.  

 

According to the EU's calculations, investments of 520 billion euros in new energy solutions are required each year to reach the 2030 climate goals. Euronews describes it as the new report putting the finger on a long-standing puzzle: How can the billions be pumped into the transition without the countries breaking rules regarding budget deficits and national debt?  

 

An EU spokesperson disagrees with the connection. Brussels has previously said that a "large part" of the 520 billion must come from the private sector, which could ease the burden on state finances. 

 

The rescue operation. AP 

 

Foreign Several dead after gas leak at milk shop in India  

 

Eleven people have died after a gas leak in the state of Punjab in northern India, several news agencies report. Four people are also being treated in hospital, according to AFP.  

 

The leak occurred in an industrial area in the city of Ludhiana, near a milk shop and a doctor's office.  

 

"People who came to buy milk in the morning collapsed outside," Rajinder Pal Kaur Chhina, a member of the area's legislative assembly, told Reuters.  

 

The cause of the leak is not yet known 

 

The takeover rumor in Electrolux  

Sources: Chinese Midea close to bid for Electrolux  

Chinese Midea is considering a takeover bid for Electrolux, according to sources to Bloomberg. Similar information was circulated in February and the companies are said to have been in contact during the past few weeks. Further Asian competitors such as Samsung Electronics are also said to be interested in the Swedish industrial treasure.  

Among the international deals in which the Midea Group, based in southern China's Foshan, has previously been involved is the purchase of the German robot manufacturer Kuka.  

Electrolux released its quarterly report on Friday and the numbers sent the stock soaring nearly 16 percent – the fourth biggest rally in the company's history.