Economy

Fed vs. inflation
Sources on Fed process: Set for “Apprentice” drama

Donald Trump’s economic advisor Kevin Hassett and Fed member Kevin Warsh have emerged as two top candidates for the job of next Fed chief. This is according to information from the Wall Street Journal.

The newspaper describes it as the process developing into a duel that brings to mind the duels on the reality show “The Apprentice”.

A possible first step for Trump could be to place Hassett on the central bank’s board of directors, when his term expires in February. He could then pit Hassett and Warsh against each other, sources told the newspaper.

Tesla’s future
Musk: Grok to be integrated into Tesla cars next week

Elon Musk says the company will integrate the chatbot Grok into its Tesla cars, CNBC reports.

Musk writes on X that Grok, his AI chatbot that recently praised Adolf Hitler and made several anti-Semitic comments, will be available in Tesla cars “no later than next week”.

X AI officially launched the Grok 4 upgrade overnight, while the company continued to receive criticism for hateful content published by the chatbot, the channel writes.

Bank CEO: Europe's growth is not good - you lose

JP Morgan CEO Jamie Dimon warns European leaders that they have problems with their competitiveness and are losing to the US and China, writes the Financial Times.

In April, Dimon said that the EU has "serious problems to solve", but today's statement goes further, the business newspaper believes.

- Europe has gone from 90 percent of US GDP to 65 percent in 10-15 years. It's not good. You lose, Dimon says during an event in Dublin.

During the same event, he warned that financial markets have become too relaxed regarding Trump's tariff threats.

Eurobonus recast as giant takes over: “Common currency”

Air France-KLM aims to become a majority owner in SAS next year and has plans to then integrate Eurobonus into the group's own loyalty program Flying Blue. This is reported by Norwegian E24.

– We imagine that we will switch to a common currency, which can be switched between and used on both Flying Blue and Eurobonus, says CFO Steven Zaat. 

Swedish growth
Neither industrial customers nor households are going crazy with shopping

Households are consuming less and less and new orders in industry are falling. This is evident from this morning's cavalcade of macro statistics from Statistics Sweden.

In May, household consumption decreased by 1.2 percent compared to April. The annual rate was an increase of 0.6 percent.

The corresponding figures for total new orders in industry were a decrease of 1.4 percent at a monthly rate and a decrease of 2.4 percent at an annual rate.

Production as a whole also decreased in the business sector, but marginally. It was down 0.1 percent in May.