Economy

Fed vs. inflation
Sources: Power play over next Fed chief intensifies

Several candidates remain in the race to become the next Fed chief, while Washington and Wall Street lobby with sharp elbows for their favorites, sources told the Wall Street Journal.

Donald Trump has heaped praise on White House adviser Kevin Hassett and former Fed governors Kevin Warsh and Christopher Waller. This week, the president also has an interview scheduled at Mar-a-Lago in Florida with BlackRock chief Rick Rieder, according to a senior source.

Heavyweights on Wall Street have rallied behind Warsh, as Hassett is considered too close to Trump to act independently, according to the newspaper's information. At the same time, Waller received 81 percent of the vote in a snap vote among business leaders at a conference in New York, the newspaper writes.

Criticism of EU agricultural policy
Lula on Mercosur: EU leaders must show courage

Brazilian President “Lula” da Silva is urging the EU to show courage and sign the trade agreement with the Latin American customs union Mercosur, writes AFP.

“Without political will and courage from the leaders, it is not possible to conclude negotiations that have dragged on for 26 years,” Lula said in a speech at the Mercosur summit in Foz do Iguacu, Brazil.

Argentina, Brazil, Paraguay and Uruguay had hoped that the agreement would be signed on Saturday, but the EU was forced to postpone a decision until January after protests from French and Italian farmers.

Thedéen: Our payment system is too dependent on the US

Given the geopolitical situation, it is important to create European systems in a number of areas. This is what Riksbank Governor Erik Thedéen says in an interview with Ekot on Saturday, where he highlights that Sweden’s payment system should not be as dependent on the US as it has been.

As an example, he gives that the two dominant credit card issuers, Mastercard and Visa, are American.

– It is probably wise to think that we should also have European or Swedish systems that work in case the American ones do not.

According to the central bank governor, Swish is “a certain complement”. He also highlights that other countries, such as Denmark, have their own national credit cards.

Tesla's future
Court overturns decision - returns Musk's giant bonus

Elon Musk will get his controversial bonus package of $ 56 billion, around SEK 520 billion, from 2018 back, the highest court in Delaware has ruled, several media outlets report. In addition to overturning the lower court's decision, Musk will be awarded $ 1 million in nominal damages, writes CNBC.

In the justification, the court writes that the measure to reject the then record-breaking bonus was too extreme and Tesla was also not given the opportunity to say what fair compensation should be. This means the year-long bonus battle appears to be over, the channel writes.

This summer, Musk was promised an even larger bonus package of $1 trillion, if a long list of high-profile financial goals is achieved.