Economy

China's growth
Analyst: Actions weaker than expected - risk of recession

The long-awaited press conference on China's new stimulus was a disappointment for investors, writes Reuters. There was no timetable, sums or details of how the money will be spent, Huang Yan, head of investment at ⁠ Shanghai Qiuyang Capital, told the news agency.

- The strength of the announced stimulus plan was weaker than expected, he says and assesses that the stock market may lose strength.

The hope was that consumers who hold tight to their wallets would have more to move around. Market analysts believed in a spending package of roughly SEK 3,000 billion.

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Stordalen's hotel empire
The hotel king in a name dispute with Stordalen Cocktail Bar

Hotel billionaire Petter Stordalen has gotten into a name dispute with a tavern owner in his home village of Porsgrunn, Norwegian media reports.

Ibrahim Tas who runs the Nordengården in Porsgrunn has registered the name Stordalen Pub as a subdivision of a restaurant. He also uses the name Stordalen Cocktail Bar, writes the newspaper Varden.

- I will not give up, he tells the newspaper.

Petter Stordalen's lawyers have demanded that Ibrahim Tas stop using the name by Monday at the latest. "This way of using the name is illegal," they write in a letter.

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Crisis Northvolt
Source: BMW does not participate in Northvolt's financing

German co-owner BMW, which earlier this year canceled an order worth SEK 20 billion, will not participate in Northvolt's financing round, a source told Reuters.

A spokesperson said BMW has no plans to increase its 2.8 percent stake, but did not provide further comment.

The Swedish co-owner Scania is said to be the driving party in the talks, something DI also reported this week.

The truck manufacturer only confirms that it has a "close dialogue", writes Reuters.