Economy

Sanctions
Swedish billionaire buys Russian oil assets

Russian oil giant Lukoil is selling its international assets to the Swedish-owned commodities company Gunvor, led by oil billionaire and CEO Torbjörn Törnqvist, according to a press release.

The price tag for the deal is not disclosed and is dependent on certain conditions being met.

The deal comes after the US imposed new sanctions directly on oil giants Lukoil and Rosneft the other week, writes Reuters.

Fed vs. inflation
Fed cuts interest rates again – despite rising inflation

As expected, the Federal Reserve cuts interest rates by 25 basis points to a range of 3.75–4.00 percent. The board disagreed on the decision. Stephen Miran wanted to see a double cut of 50 basis points.

In half an hour, Federal Reserve Chairman Jerome Powell will begin his press conference where he will explain the decision.

The reduction is being implemented despite inflation in the US having risen since last spring and in September was at 3.0 percent at an annual rate. There are several reasons, but the Fed primarily points to the fact that the labor market has weakened during the fall.

The central bank has also decided to end the reduction of its total securities holdings on December 1.

The development of AI
Fuglesang's AI company flopped – did not receive any money

The AI ​​startup International Space Asset Acceleration Company, led by space expert Cecilia Hertz and with astronaut Christer Fuglesang on the ownership list, sought SEK 4 million a year ago.

The plan was to build a new AI database. The business has now been closed, writes DI.

Hertz states that it "looked promising" with a couple of hundred interested investors, but many withdrew and the capital round failed.

- I think we were four to five years too early with the business idea. That's often the case for me, she tells the newspaper.

Report flood
Meta predicts sharply increased expenses next year

Meta had higher sales growth than expected in the third quarter. The adjusted profit also came in above expectations. The giant reports a one-time cost linked to a tax hit of almost $16 billion for the period.

The stock falls 8 percent in after-hours trading. One explanation for this may be that it predicts a sharp increase in expenses in 2026, according to Bloomberg.

At the same time, the forecast for investment expenses for 2025 is being raised from the range of $66 to $72 billion to $70 to $72 billion.