Economy

The future of the EU
EU warns France of deficit - risk of fine

The European Commission is now warning France of having too large a budget deficit, reports Bloomberg.

The regulations from the EU today have a ceiling that the national debt may not be higher than 60 percent of GDP, while the budget deficit may not exceed 3 percent. However, France has a deficit of 5.5 percent and a national debt of 111 percent of GDP.

Thus, the Union now considers that Europe's second largest economy has broken the rules, which can lead to heavy fines.

In parallel with the EU's warning, observers point out that the politicians will have to walk like eggshells in order not to stir up new concerns in the financial markets.

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China's growth
A record number of millionaires are moving from China

Around 15,200 dollar millionaires are expected to leave China this year. This is shown by a new study from Henley & Partners, writes Nikkei Asia.

In that case, it will be a new record figure. The most popular destination for the emigrants is the United States, according to the study.

Last year, 13,800 millionaires left the country, moving mainly to the United States, Canada and Singapore.

The study also shows that it is most common to leave the country among people who earn between 30 million and 1 billion dollars.

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The problems with the Boeing plan
Whistleblower: 400 defective aircraft parts in the air at Boeing

A whistleblower claims Boeing neglected to discard as many as 400 defective aircraft parts last year, some of which may have been installed on new 737 Max planes. The accusations were made public on Tuesday before the Senate hearing of Boeing CEO Dave Calhoun, writes Bloomberg.

The whistleblower also claims that the company "deliberately hid" defective components before an official inspection.

Boeing states that the claims will be reviewed.

According to Bloomberg, several whistleblowers have now sounded the alarm that the company has taken shortcuts in production.

- This is a culture that continues to prioritize profits, push boundaries and ignore its employees, says Senator Richard Blumenthal, according to Reuters.

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Tech
Amazon is fined millions for violating labor laws

Amazon has been fined nearly the equivalent of SEK 60 million for violating the work environment law in California. This is reported by Engadget. It all concerns two of Amazon's facilities in the state, both near Los Angeles. According to the authority The California Labor Commissioner's Office, Amazon, through its productivity quotas for employees, has violated the law on no less than 59,017 occasions.

In 2022, California introduced a law that requires productivity ratios to be disclosed to both employees and governments, and the law also prohibits employers from setting productivity requirements that prevent employees from taking rest and meal breaks.

In recent years, Amazon has been the subject of intense scrutiny when it comes to how the company treats its employees.

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Swedish growth
New forecast: The recession will continue next year

Household consumption is expected to recover towards the end of the year, which contributes to the bottoming out of the recession this year. But Sweden will still be in a recession next year, writes KI in a new forecast.

Inflation is estimated to be lower than 2 percent during the second half of this year, which paves the way for further interest rate cuts.

"The forecast means that the policy rate will be lowered to 3.0 percent at the end of 2024 and further to 2.25 percent in May 2025," writes KI.

Unemployment is predicted to continue rising and reach a peak of 8.5 percent this year.