Economy

Saab sales
Finland buys its own Global Eye plane from Saab

Finland is buying its own Global Eye plane from Saab. This was revealed by Defense Minister Antti Häkkänen in connection with the NATO summit in Ankara, writes Hufvudstadsbladet.

Earlier on Tuesday, NATO announced that the defense alliance is buying up to ten of the defense giant's reconnaissance aircraft.

The price tag for a Global Eye plane is around 4 billion Swedish kronor.

AI and jobs
Economics laureate: AI effects are overestimated

AI will not significantly increase productivity in Western economies. That is what Professor Christopher Pissarides, who was awarded the 2010 Nobel Prize in Economics, says, according to Bloomberg.

- I doubt there will be a new boom, similar to the one we had in the 80s and 90s, he tells the newspaper.

Pissarides, who specializes in the impact of automation on work, says that around 40 percent of jobs in the UK will largely remain unaffected by AI. Healthcare is an example of a sector that will be relatively unaffected.

“The times of high productivity growth are over, no matter what we do,” he says 

Stock market sentiment
Samsung plummets despite record profits

Profits for Samsung Electronics, the world’s largest chipmaker, were 19 times higher in the second quarter than in the same period last year. The result was also higher than analysts had expected, according to Bloomberg.

Despite this, the stock fell by almost 9 percent during today’s trading on the Seoul Stock Exchange. Other technology stocks were dragged down in the fall, which contributed to the South Korean stock index KOSPI falling by more than 6 percent.

All of this is seen as evidence that investors are becoming increasingly skeptical of the AI ​​boom.

– Even strong results do not satisfy the market when valuations are high, says Tim Waterer, chief analyst at KCM Trade to Bloomberg. 

Space X stock market trip
Space X takes place in the index – now the funds must buy

When Elon Musk's space company SpaceX takes place in the Nasdaq100 index from today, a number of passive index funds that follow the index will have to buy the stock. This is stated by CNBC.

Buying pressure from funds will still be limited because only around 4 percent of SpaceX shares have been released for sale. This means that the stock will constitute around 1.3 percent of the Nasdaq100.

Experts warn that in the slightly longer term, selling pressure will instead build up on the stock. This is because insiders in the coming weeks and months may start selling shares that they were not allowed to sell at the listing.

– We know that volatility is high and the feeling is that it will increase, says JJ Kinahan, vice president of CBOE to the site.

The hunt for fusion energy
Google invests in European fusion power

Alphabet-owned Google is one of the investors in a multi-billion dollar venture to develop a fusion power facility in Germany.

The German company behind the venture, Proxima Fusion, has raised 411 million euros, equivalent to 4.5 billion kronor, for the venture in a new share issue. The issue values ​​Proxima Fusion at 26 billion kronor.

Although Proxima is the largest venture into fusion power in Europe, there are several similar ventures in the US that have attracted more money. Ventures that are backed by, among others, Sam Altman and by Google themselves.