Economy

The global challenges
Study: Banks underestimate climate change

Almost nine out of ten banks underestimate the risk of climate change, reports Bloomberg, referring to a new study from Climate X.

Banks have begun to measure climate-related risks, but business models are not sufficiently adapted to handle the swings from higher temperatures and extreme weather.

- As the climate crisis accelerates, banks' ability to help customers better understand and manage physical climate risks is crucial for long-term financial stability, says Lukky Ahmed, CEO of Climate X, in a press release.

The banks with the lowest rating in the study included Goldman Sachs, Morgan Stanley and JP Morgan Chase.

Klubben för världens allra rikaste har vuxit kraftigt det senaste decenniet. Det visar en rapport från 

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The number of super-rich rushes: "A millionaire boom"

The club for the world's very richest has grown strongly in the last decade. This shows a report from Henley & Partners that CNBC refers to.

The number of "centi-millionaires", i.e. people with at least 100 million dollars in cash, has increased by 54 percent during the period and now amounts to 23,350 in number.

Development is primarily driven in the world's largest economies, namely China and the United States.

- The US and China have seen what can only be described as a centimillionaire boom that significantly exceeds the development in Europe, says Henley & Partners manager Juerg Steffen. 

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The Swedish battery investments
About Details: Chinese supplier has blown Northvolt

The struggling battery manufacturer Northvolt may have been subjected to sabotage by the Chinese supplier Wuxi Lead Intelligent Equipment, according to information given to the blog Cornucopia and Lars Wilderäng. The sabotage is said to have occurred in connection with manufacturing machines that Wuxi Lead sold with, among other things, insufficient documentation and "undocumented technology that can be suspected of being used for remote control from China."

"It looks like Wuxi Lead sabotaged and opposed the business from the beginning but got paid billions for their machines," writes Cornucopia.

Furthermore, the blog speculates that there may be an intention to weaken Northvolt, which would allow for a Chinese buyout after a possible bankruptcy.