Economy

Fed vs. inflation
Trump claims prices are falling – data says otherwise

On nearly 20 occasions in public speeches since December, Donald Trump has claimed that inflation in the US is defeated and almost 30 times claimed that prices are falling, according to a Reuters review. The claims stand in stark contrast to both economic data and how many Americans experience their everyday lives, the news agency notes.

During Trump's first year, inflation has been around 3 percent. Opinion polls show that many voters are deeply dissatisfied with how Trump has handled the economy and Republican strategists warn that the statements are creating a trust gap.

- He cannot continue to make patently false claims, says Republican strategist Rob Godfrey. 

Crypto market
Crypto exchange sent 361 billion to customers by mistake

The South Korean crypto exchange Bithumb accidentally sent 620,000 bitcoin to customers on Friday, worth around 361 billion kronor. AFP reports.

The intention was to pay out 2,000 South Korean won, equivalent to around 12 kronor, to each customer as part of a campaign. Instead, around 2,000 bitcoins were transferred per user.

The mistake triggered a sharp drop in the price of bitcoin on the platform, with the rate temporarily plummeting by 17 percent. However, according to Bithumb, the situation was under control within 35 minutes, with almost all of the cryptocurrency being able to be withdrawn.

“We sincerely apologize for the inconvenience caused to our customers due to the confusion that arose during the dividend

The development of electric cars
The giants' plans for giant battery factories are scrapped

The European battery company Automotive Cells, ACC, which is owned by Stellantis, energy giant Total Energies and Mercedes-Benz, is scrapping plans for the two battery factories in Germany and Italy. The company stated this in a written statement, writes Bloomberg.

The construction plans were put on hold in May 2024 and now the company states that the conditions are not sufficient to resume operations. The information is confirmed by the Italian union.

“ACC's management confirmed to us this morning what we have long feared: ACC's plans to build a gigafactory in Termoli have been definitively scrapped, as is also the case in Germany,” the union writes, according to AFP.

The initiative was seen as a competitor to Northvolt and has been pointed out as an important piece of the puzzle to reduce dependence on China, writes TT. 

The development of AI
The giants' AI note: Costs far more than the moon landing

Bigger than the expansion of the American railway network and the long-term Apollo program that led to the moon landing in 1969. This is how the Wall Street Journal describes the tech giants' massive investments in AI infrastructure.

This year alone, Microsoft, Meta, Amazon and Alphabet are expected to invest up to $670 billion in new AI infrastructure. Measured as a share of GDP, a larger capital investment in the United States has only been made once before, namely during the so-called Louisiana Purchase in 1803 when the country doubled its area, the newspaper writes.

At the same time, there is some concern about the tech giants' high-flying AI plans, writes CNBC.

- If you are going to invest this much money in AI, it will reduce your free cash flow, says Jake Dollarhide, CEO of Longbow Asset Management.Send feedback