Economy

US-China Relations
China imposes export controls on ten US companies

China has imposed export controls on ten US companies – two of them producers of rare earth metals, reports Bloomberg.

MP Materials and USA Rare Earth, which have now been added to China's export control list, are part of the US's effort to build alternative supply chains for key minerals for the defense industry, for example.

Eight companies in the drone, robotics and aerospace industries have also been added to the list, the news agency writes. 

ECB vs inflation
Lagarde: No need for stronger ECB measures

There is currently no need for tighter monetary policy in the wake of the effects of the Iran war. ECB President Christine Lagarde tells Bloomberg.

She believes that inflation expectations are “well anchored” and that there are no signals of so-called second-hand effects that could justify tightening policy.

– By taking decisions meeting by meeting ... we can adapt our response as developments change, she says.

Earlier in June, the ECB raised the deposit rate for the first time in three years. 

Security in Europe
Defense giant against the stock exchange after German-French agreement

The tank manufacturer KNDS is moving closer to a stock exchange listing after Germany and France agreed that the states will each own half of the company, several media outlets report.

Germany agreed this weekend with the owner family to take a stake in the company and stated on Monday that it wants 40 percent of the shares, writes Bloomberg. France, which currently owns 50 percent of the shares, wants to trim its holding to 40 percent at the same time.

The deal is expected to value KNDS at between 15 and 18 billion euros, equivalent to 165-198 billion kronor, a source told the news agency.

The stock exchange listing could be announced on Tuesday and is expected to be one of the largest in Europe in recent years. 

Energy crisis in Europe
Energy summit: The war could pave the way for increased electrification

The Iran war and the subsequent energy crisis could accelerate electrification globally. This is according to the head of the International Energy Agency, IEA, Fatih Birol, according to Reuters.

The head of the agency believes that the energy crisis has contributed to countries now trying to strengthen domestic energy supplies and protect themselves against price increases.

– My assessment is that this crisis will give electrification another boost, says Birol. 

Swedish business
Bioarctic signs billion-dollar deal with American giant

The Swedish research company Bioarctic has entered into an agreement on a collaboration with the American pharmaceutical giant Eli Lilly, according to a press release.

One of Lilly's drug candidates will be given to patients via the Swedish company's so-called brain transporter technology. Bioarctic is said to receive an initial payment of $30 million, equivalent to 288 million kronor. After that, the company can receive additional milestone payments of up to $770 million, just under 7.4 billion kronor.

Bioarctic will also be entitled to royalties on global sales if the product reaches the market.

Bioarctic is known for having developed Leqembi, a groundbreaking inhibitory drug for Alzheimer's disease.

SAS's future
Strike threat against SAS in Norway – 468 cabin crew members may be called out

468 cabin crew members at SAS in Norway may be called out on strike, reports E24.

On Monday and Tuesday, SAS and the unions Fellesforbundet and Parat will meet at the Ombudsman's Office. If mediation fails, the strike could break out as early as Wednesday.

– None of us want to ruin anyone's vacation, SAS employee Jaroslaw Kania tells the site.

Higher wages and better working conditions are some of the demands from cabin crew in this year's collective bargaining.