Economy

Volatile oil market
Sources: OPEC+ increases production more than announced

According to information from delegates, OPEC+ has agreed in principle to increase oil production faster than expected next month, Bloomberg reports.

At a virtual meeting on Saturday, eight key members are expected to approve an increase of 550,000 barrels per day – more than the previously announced 411,000 barrels for May, June and July. 

Swedish interest rates
Chief economist: The krona can stop interest rate cuts

Inflation is expected to have risen to 2.5 percent in June, mainly due to more expensive foreign travel. This is shown by Bloomberg's compilation of economists' forecasts.

Nordea's chief economist Torbjörn Isaksson does not see the rise as a sign that inflation is about to pick up again.

– We are still strengthened by the fact that inflation will fall back by the end of the year, he tells TT.

Isaksson emphasizes that the development of the krona will be decisive for whether the Riksbank chooses to lower the key interest rate this autumn. However, he points to an increased probability of another cut – possibly as early as September.

The twists and turns around Tiktok
Trump: US and China to resume Tiktok talks next week

The US plans to resume talks with China on a Tiktok agreement at the beginning of next week. This is what President Trump told reporters aboard Air Force One.

– We basically have an agreement in place.

An earlier proposal to form a US-based company for Tiktok's American operations was paused after Chinese opposition to Trump's new tariffs.

The Chinese owner company Bytedance has until September 17 to sell Tiktok's US part.

Tariff crisis  Trump's tariff policy
AP3: Short selling trick dragged billions into tariff chaos

Instead of sitting idly by, the Third AP Fund took a short position on the stock market just before Donald Trump's tariff announcement sent world markets into a tailspin. This is what the fund's investment manager Jonas Thulin tells SvD Näringsliv.

- Before the stock markets turned up again, we took a share of the profit and on April 8 we increased the proportion of stocks in the portfolio again, he says.

According to Thulin, the trading maneuver generated between SEK 5 and 10 billion for the fund. 

Source: Trump may divide countries into three tariff categories

According to the European Commission, Donald Trump is expected to divide the US's trading partners into three categories, an EU diplomat tells Politico.

In the first group, the tariff break for the so-called reciprocal tariffs would remain in place, with the possibility of further easing in the future.

In the second group, country- and region-specific tariffs – such as the 20 percent tariff on EU goods – would be reintroduced if no agreement has been reached, even if negotiations are ongoing.

In the third group, high country-specific tariffs would be introduced and remain in place until further notice, as long as the US believes that talks are not progressing.

Experts: Quick agreement with lower tariffs is the EU's best chance

Since a detailed trade agreement with the US is practically out of the question for the EU before the deadline, a quick and superficial agreement may be the Union's best option. This is what experts and several sources tell CNBC.

Former US ambassador to the EU Anthony Gardner believes that the EU should invest in an agreement similar to the one Britain signed with the US.

Carsten Nickel, CEO of consultancy Teneo, agrees, saying it would buy the EU more time but that the union would probably have to accept broad import tariffs of 10 percent.

In addition to pushing for an extension of the tariff pause, the EU's planned retaliatory tariffs are also being raised as an option if no agreement is reached, according to CNBC.

"If no agreement is reached, Europe will undoubtedly have to respond more forcefully to restore the balance," French Economy Minister Eric Lombard told AFP.