Economy

Space X IPO
Allianz warns: Space X issue a sign of a bubble

Space company SpaceX's fresh bond issue of $25 billion is a clear sign that the market is entering a bubble phase. Allianz CEO Ludovic Subran tells the FT.

The fact that companies are rushing to raise capital in large stock and bond deals while share prices are at record levels signals that the market may be close to a peak.

SpaceX's billion-dollar issue shortly after the record-breaking IPO is a "good example" of how the market has gone from "a healthy boom, to overheated, to a bubble phase," he says.

At the same time, he warns that bondholders will not be as forgiving if SpaceX's billion-dollar losses continue.

- Bondholders are not like shareholders. Shareholders can be taken to Mars. Bond investors say: "Where is my coupon?"

The future of the automotive sector
Polestar forced to stop selling new cars in the US

Electric car manufacturer Polestar is forced to stop selling new cars in the US from the 2027 model year. The company told Reuters.

The announcement comes after the US tightened rules for connected vehicles with links to China.

The US Department of Commerce has not given Polestar permission to sell cars under the Connected Vehicles Rule, which covers cars from the 2027 model year and later.

Swedish-based Polestar, which is mostly owned by Chinese Geely, says it will continue to sell existing Polestar 3 and Polestar 4 models in the US.

Polestar falls 7 percent in the US.

Tariff crisis  Trump's tariff policy
EU approves tariff agreement - meets Trump's deadline

EU member states have now finally approved the tariff agreement with the US, the European Commission writes in a press release.

This effectively means that almost all EU goods will be subject to 15 percent import duties in the US.

According to the agreement reached with Donald Trump last July, the EU will remove its tariffs on American industrial goods, while the US will introduce 15 percent tariffs on most European products.

“The EU can respond quickly and proportionately if the agreement is not respected or its interests are at stake,” said Cyprus’ Trade Minister Michael Damianos in a statement.

The EU will thus meet Trump’s deadline, which the president set for the US Independence Day on July 4, AFP reports.

The chip battle
Microsoft takes aim at Apple – raises the price of Xbox

Tech giant Microsoft is raising the price of the Xbox game console by up to $150, equivalent to around SEK 1,500, Reuters reports.

– Unfortunately, the prices of storage and memory for game consoles have increased by more than 2.5 times, and we expect them to double again by the fall of 2027, writes Xbox in a comment.

The increase takes effect on August 1.

Earlier today, Apple announced that the tech giant is raising the prices of several Macbook and iPad models in the wake of the skyrocketing prices of storage and memory chips.