Economy

The future of defence
Saab CEO: Europe's defense needs 100 billion euros

More financial backing is needed for Europe's defense industry if it is to be consolidated, competitiveness and cooperation between companies and countries are to increase. That's what Saab CEO Micael Johansson says in an interview with the Financial Times.

The 1.5 billion euros that the European Commission planned to give the industry will not be enough, says Johansson. He says that rather funds in the 100 billion range are needed to increase the incentives.

- If there are significant sums in it, it will drive forward collaborations such as joint ventures, says the Saab top.

For Saab, the order backlog nearly tripled in the second quarter compared to the same period last year. Something that Johansson believes is a result of Europe now trying to build up its defense capacity.

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The election in the USA The electoral movement
Trump was greeted by crypto cheers: "Should fire Gensler"

Fire SEC chief Gary Gensler, release Silk Road founder, and end "crypto persecution." That's what Donald Trump promised crypto enthusiasts at this weekend's bitcoin conference in Nashville, writes the Financial Times.

The promise to fire Gensler, who has gone hard on crypto investments, got the biggest cheers of the night. Instead, Trump stated that he will replace the regulators with more "crypto-friendly" people, writes Bloomberg.

- Laws and regulations should be established by people who love the industry, not by some who hate it, Trump said, among other things.

Since the assassination attempt on Trump two weeks ago, the price of bitcoin has risen around 10 percent.

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Summer Olympic Games in Paris
This year's USA earns much more than the "Dream Team"

The United States has sent its most star-studded basketball squad to the Olympics since 1992, when Michael Jordan and Magic Johnson won gold with the "Dream Team." This year's edition is also by far the most well-paid team in the history of basketball, writes the WSJ.

LeBron James, Kevin Durant and their teammates are certainly playing the Olympics for free. But when they return to the NBA, they have a combined annual salary of $504 million, equivalent to SEK 5.5 billion. That's many times more than the Dream Team's $35 million.

"Today's basketball players have become incredibly rich as lucrative media deals have