Economy

Middle East Crisis  Economic Impact
US wants China to stop closing the Strait of Hormuz

US Secretary of State Marco Rubio is urging China to prevent Iran from closing the Strait of Hormuz. CNBC reports.

– I urge the Chinese government in Beijing to call them about it, because they are heavily dependent on the Strait of Hormuz for their oil, he says in an interview with Fox News.

Iran's parliament decided on Sunday, after the US attack, that the strategically important strait should be closed. The final decision, however, is not in the hands of parliament

Warns of oil rally: "It will be felt"

A closure of the Strait of Hormuz had shaken the global oil market and is expected to lead to a price increase when trading begins for the week overnight. SEB estimates that North Sea oil will rise by up to $5 per barrel at the opening, from the current level of $77.

It had noticeable effects for Swedish households, with higher gasoline prices within a couple of days. That's what Handelsbanken analyst Christian Kopfer tells Expressen.

– It will definitely be felt economically, says Kopfer.

Expert: "Don't sell in panic - tends to fade"

It is expected to be a turbulent start to the stock market week after the increased tensions in the Middle East. Profiles that Dagens Industri has spoken to advise Swedish investors to wait.

– Don’t panic sell if you see big red numbers, says Jon Arnell, investment manager at von Euler & Partners, and continues:

– These types of escalations tend to fade over time and the market often recovers quite quickly

The tech companies’ AI race
Meta’s super-hiring – has invested billions

Social media giant Meta’s $14.3 billion investment in Scale AI was made to recruit 28-year-old founder Alexandr Wang to the AI ​​race, writes the Financial Times, which has spoken to sources with insight.

He is described as a genius at networking and is said to have one of the widest networks of contacts in Silicon Valley. Others believe that the driving force is rather opportunism.

– He wants his name on everything, even when he was not involved or did the work, a former employee tells the FT.

Expectations for Wang and Meta are sky-high.

“They have to succeed in the next round, with the ‘dream team’ they are building,” Gil Luria, an analyst at D.A. Davidson, told CNBC.