Economy

Swedish growth
Minister: Recession the worst since the financial crisis

Sweden is going through a “brutal and tough recession”, says Minister of Labor and Integration Mats Persson (L) to EFN.

– We have not experienced such a tough recession since the financial crisis, really, he says, pointing to high interest rates, “the shaky economy”, reduced consumption and increased bankruptcies.

At the same time, he sees light at the end of the tunnel in connection with the Riksbank continuing to lower interest rates. Regarding unemployment at just over 7 percent, Persson believes that a gap between the skills of the unemployed and the needs of the business community is a problem.

Schibsted's future
Schibsted Media to lay off 350 employees

350 jobs are to be lost from the media group Schibsted Media, writes Journalisten. In Sweden, the group owns Svenska Dagbladet and Aftonbladet, among others.

“As the economic situation has developed, there is no other alternative”, writes CEO Siv Juvik Tveitnes in a press release.
The cuts correspond to 13 percent of the total workforce.

US climate policy
Trump halts billions in funding for green infrastructure

Around 3,000 billion kronor that was to go to finance green infrastructure was halted by President Donald Trump hours after he took office, writes the Financial Times. This includes federal disbursements of loans and grants.

“All agencies should immediately pause the disbursement of allocated funds,” said the order, titled “Unleash American Energy.”