Economy

Crypto Market
Bitcoin surges ahead of Trump's meeting with crypto leaders

Bitcoin surges about 8 percent to $69,500 – its biggest gain since March. The lift comes ahead of Donald Trump's meeting with several crypto leaders at the White House and in the wake of falling US market interest rates.

The rise also forced many who had bet on a bitcoin drop to close their positions, which helped to amplify the price surge.

– Buyers are regaining confidence, says Axel Rudolph, chief technical analyst at trading platform IG.

According to him, the next big test will be whether bitcoin can continue to rise and challenge $75,000.

Several Fed members wanted to raise interest rates in July

Several Federal Reserve members wanted to raise interest rates in July and many saw a need for tightening if inflation does not fall, according to the minutes of the US central bank's latest meeting.

“Many considered that the recent escalation of the conflict in the Middle East had made the inflation outlook significantly more uncertain,” writes the Fed.

The Fed left the interest rate at 3.5-3.75 percent with a vote of 9-3.

Essity buys operations in Brazil for 2.7 billion

Essity is buying Kenvue’s menstrual care operations in Brazil for the equivalent of 2.7 billion kronor, according to a press release.

“With the acquisition, we establish a strong position in feminine care in Brazil and take another step in our strategy to grow in our most value-creating categories,” comments CEO Ulrika Kolsrud.

The purchase includes brands for sanitary napkins, panty liners and tampons, among others. The operations had sales of around 1.4 billion kronor last year.

Climate Threat Extreme Weather in Europe
Bank: Extreme Heat Costs Productivity Crash

The extreme heat of the summer in Europe will reduce the total GDP of EU countries by 1 percent in 2026, according to calculations from Triodos Bank. This is reported by SR Ekot.

A strong contributing factor is that general productivity drops sharply in the heat.

“The connection is well documented: workers' productivity decreases measurably when the temperature reaches 25–30 degrees. The effects are particularly clear in physically demanding work, outdoor work or work in environments without temperature control,” it writes.

In addition, the economy is burdened by, among other things, reduced production in agriculture and higher prices for food and electricity, according to Triodos.