Economy

Janerik Henriksson/TT / TT News Agency  

 

The crisis in the real estate industry  

The economist: Sweden risks a system-critical real estate crisis 

 

If the Riksbank does not lower interest rates, several large Swedish real estate companies will have significant problems when the bond periods expire. This is what the Danish economist Andreas Steno Larsen tells DI.  

 

He describes it as "a dangerous situation" that risks hitting the banks hard.  

 

- There is a risk that this will become a systemic crisis, he underlines.  

 

 

The Loch Ness monster Pressens Bild / TT Nyhetsbyrån 

  

Amazon raised prices with secret algorithm "Nessie"  

 

Amazon has used an algorithm called "project Nessie", after the Loch Ness monster, to test how much the company could raise its prices. This is evident from the Federal Trade Commission's monopoly investigation of the company, writes the Wall Street Journal.  

 

The algorithm helped the company increase margins on several products and also led to competitors increasing their prices to customers to a greater extent. 

 

In cases where competitors did not raise their prices to Amazon's new level, the Nessie algorithm nudged the price back to the original level. 

 

According to a source for the newspaper, Amazon has earned over a billion dollars from the use of Nessie.  

 

The algorithm is no longer used by the company.

 

Christine Olsson/TT / TT News Agency

 

Today's stock market 

The stock market opens in the red - SAS collapses 95 percent  

 

The Stockholm Stock Exchange trades down on Wednesday and the broad OMXSPI retreats to a new annual low. At 1 p.m., the index reads as follows: 

 

• OMXSPI: –0.2% 

• OMXS30: –0.2%  

 

Among the companies, SAS announced yesterday that a consortium has joined as the new major owner. In connection with that, all ordinary shares will be delisted from the stock exchange and it is not expected that "there will be any value left for existing shareholders", writes the company. The stock collapses and falls 80 percent.  

 

Also on the Norwegian and Danish stock exchanges, the SAS share falls significantly. 

 

Cell Impact's turnover in the third quarter provisionally amounted to SEK 8 million, according to an update. It is "lower than expected", writes the company. The stock falls close to 16 percent.  

 

Storytel plummets 18 percent since Spotify announced that the company will start rolling out audiobooks to its premium customers.  

 

At the top of the OMXS30, SCA traded up close to 2 percent.The telecom giants Telia and Tele2 also rise around 1.5 percent each. At the bottom of the index is SBB with a fall of 4 percent.  

 

The New York stock exchanges yesterday 

 

S&P 500: -1.4%  

Nasdaq: -1.9%  

Dow Jones: -1.3%

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