Economy

AB Volvo's future
Analyst: Can speculate on an exit

Since Geely has not demanded, or received, a seat on the board, one can speculate that the company wants to make an "exit" in Volvo. That's what Kepler Cheuvreux analyst Mats Liss tells Afv, after Geely's announcement that it wants to sell all its B shares in Volvo.

He mentions that Geely bought into Volvo "a bunch of years ago" and that they have made a good deal, especially with the dividend included.

Dagens Industri writes that Geely bought Volvo for SEK 185 a share. Since then, the stock has risen by 57 percent, excluding dividends.

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The future of Netflix
Profit crush for Netflix - more new users than expected

Netflix's earnings per share for the first quarter came in well above analysts' estimates and rose 80 percent year-over-year. Turnover and the number of new users also exceeded expectations. Despite that, the share retreats by just over 3 percent in after-market trading.

The number of new users during the quarter was over 9.3 million, which was almost twice as high as expected.

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Argentina's financial crisis
Arrested for steak theft: "I'm ashamed, I was hungry"

Not only prices and unemployment are soaring in Argentina. Now the theft of foodstuffs is also increasing, writes the news site El Diario, which has followed a man they call Jorge in a report.

He is arrested when he walks past the tills with a piece of meat for the equivalent of SEK 78. Four hours later, he is brought before a remand judge.

- I'm ashamed, what can I say? I was hungry, says Jorge and continues:

- What should I do when I don't get a job for a day or two?

The judge closes the preliminary investigation and decides that Jorge must pay restitution to the store or perform community service.

Many in the legal system think that the security guards should stop the shoplifters before they pass the tills in order to avoid spending resources on the crimes, writes El Diario. One in five remand hearings in the town of Trelew relate to shoplifting.

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The crisis causes Argentines to eat record low meat

In the first quarter of this year, Argentines ate less beef than they have in the last 30 years. This is according to a report from the Chamber of Commerce of the Meat Industry, according to Argentine media.

From 50 kilos per person per year, meat consumption has decreased to 42.6 kilos.

- Consumption can only recover if the macro economy and thus the citizens' purchasing power recovers, says Chamber of Commerce chairman Miguel Schiariti to the news site Infobae.

In a deepening crisis with high inflation, rising unemployment and the removal of subsidies on domestic gas, electricity and public transport, many Argentines have seen their fixed costs skyrocket. Almost 60 percent of Argentines are now considered poor, writes BA Times.