Economy

Tariff crisis  Trump's tariff policy
EU summit: Had "very positive" talks with the US

EU Trade Commissioner Maros Sefcovic stated on Saturday that he had a "very positive" meeting with US Trade Representative Jamieson Greer. Reuters reports.

- We agreed to move forward with the work on rare earth metals, he says, adding that tariffs have also been discussed, he says according to the news agency.

Middle East crisis  Economic effects
Energy Minister: Norwegian economy not benefiting from Iran war

The Middle East war and the blockade of the Strait of Hormuz have pushed up oil and gas prices, which is driving up revenues for the country's important energy sector. Nordea's energy analyst Thina Saltvedt tells Ekot.

But Norway's economy is ultimately not benefiting from the increased oil revenues, according to Norwegian Energy Minister Terje Aasland. He points out that the price increase is driving up inflation and hitting competitiveness.

– It affects Norway negatively, he says.

Food prices
Reduced food VAT approaching – cross-border trade is charging

On Wednesday, April 1, food VAT will be reduced, which is expected to give a boost to cross-border trade, reports Ekot.

Last year, Norwegians traded for over 11 billion kronor at cross-border trade, and with the reduced food VAT, traders are now charging for increased pressure, not least from Norwegian customers.

– Prices in Norway have not been adjusted and a Norwegian customer can probably experience a big difference, says Patrik Säll, a store manager in Strömstad.

Epstein affair  Investigation
Bank of America pays millions to Epstein victims

Bank of America has agreed to pay the equivalent of almost 700 million kronor in a civil case with links to pedophile billionaire Jeffrey Epstein, writes Reuters.

The bank has been sued by multiple sex crime victims who say the bank, the second largest in the United States, facilitated the human trafficking scheme run by Jeffrey Epstein. Specifically, the bank is accused of ignoring suspicious transactions and thus prioritizing profit over protecting victims.

Bank of America denies that this was the case but says the settlement will put the issue behind it.