Economy

The EU is preparing a new strategy for Europe's defense industry  

The European Commission will within the next few weeks present a new strategy for the European defense industry, writes Bloomberg, who has seen a draft. Among other things, the goal by 2035 will be to make up to half of defense purchases within the EU, with the aim of reducing dependence on third countries. 

 

"The geopolitical development points to a compelling need for Europe to take increased responsibility for its own security," the draft reads, according to the news agency. 

 

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The oil giants benefit from Biden - triple the profits 

 

Under Joe Biden's presidency, the ten largest oil and gas producers in the United States have almost tripled profits compared to when Donald Trump was president - something that underlines the limited role of the White House, according to the Financial Times. 

 

- Normally, the return during a certain presidential term has little to do with who holds the office, says Bob McNally, CEO of the consulting company Rapidan Energy and former George W Bush adviser, to the Financial Times. 

 

In Donald Trump's re-election campaign, he has made support for the oil and gas industry central and believes that the gains have to do with the administration's deregulation agenda.  

 

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The crypto market Bitcoin 

Above $57,000 - Highest Level Since 2021 

  

Bitcoin passed 57,000 dollars on Tuesday for the first time since the end of 2021. 

 

The increase is partly explained by the increased demand via exchange-traded funds and partly by additional purchases by Microstrategy, writes Bloomberg.  

 

The technology company said on Monday that it bought about $1.7 billion worth of bitcoin in February.

 

The world's largest cryptocurrency has risen around 32 percent since the turn of the year  

 

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Swedish inflation  

The idea: The interest rate can be lowered during the first half of the year  

 

The fact that inflation rebounded in January does not shake the Riksbank's view that "inflation dynamics are moving in the right direction". That is central bank governor Erik Thedéen's message during a speech to the Eastern Swedish Chamber of Commerce on Tuesday.  

 

- We are on slightly firmer ground and I do not rule out that the policy rate can be lowered during the first half of this year, says Thedéen according to a press release.  

 

According to the major banks' forecasts, the Riksbank is expected to lower the key interest rate by 25 points in May or June, reports TV4.