Economy

Fed vs. inflation
Donald Trump: Powell's puck is ruining everything

The American economy is strong and "blowing through everything," Donald Trump said at a press conference yesterday, taking another swipe at Fed chief Jerome Powell.

- But you know what? People can't buy houses because this puck is ruining everything.

In the past week, threats to fire Powell have intensified from the president, but at the press conference the threats were toned down and Trump insinuated that he will be allowed to stay out for the rest of his term.

The flood of reports
Tesla beats estimates - volatile trading in the stock

Electric car manufacturer Tesla's interim results are in line with profit expectations and estimates for sales, according to Nyhetsbyrån Direkt and FT, which refer to S&P Global Market Intelligence and Visible Alpha. The latter figure means that it was the second quarter in a row that sales fell compared to the same period last year.

Other media outlets, such as DI, TT and Yahoo Finance, write that Tesla missed the estimates.

“We continue to expand our vehicle offering, including the first builds of a more affordable model in June, with volume production planned for the second half of 2025,” Tesla writes.

The stock has been both positive and negative after the report.

The development of AI
Tense relationship causes Amazon to close AI lab in China

The increased tensions between the US and China cause Amazon to close its AI lab in Shanghai, reports the Financial Times.

Amazon thus follows in the footsteps of IBM and Microsoft, which have also closed their China-based research teams since the US government increased scrutiny of AI development in the country.

According to researcher Wang Minjie, who was part of Amazon's Shanghai lab, the research group has published more than 100 scientific articles and developed an open source framework that has contributed to almost $1 billion in sales for Amazon. 

Swedish arms exports
Czech Republic buys air defense for billions from Saab

The Czech Republic's defense is ordering the Mobile Short-Range Air Defense (MSHORAD) air defense system from Saab worth 1.8 billion kronor. In a press release, Görgen Johansson, head of Saab's Dynamics business area, says that the Czech defense already has Saab's RBS 70 NG air defense system.

- Now we are supplementing this with MSHORAD, which is an air defense system with very good mobility that provides additional protection for troops on the move.

Deliveries will take place in 2028–2030.

The share rose 3.7 percent.

US Air Force budget reveals future Saab purchases

The US Air Force plans to purchase 14 trainer aircraft with tail parts from Saab. This is reported by DI, referring to the Pentagon's recently released budgets.

The deal concerns T-7 Red Hawk aircraft manufactured by Boeing together with the Swedish defense giant. The total deal amounts to the equivalent of 3.4 billion kronor, but according to the newspaper it is likely part of a previous framework agreement.

Saab has not responded to DI's request for comment.