Economy

Japan's growth
Japan confirms: US supports our currency

The Japanese yen fell to a 40-year low against the dollar on Friday, prompting the US Treasury to buy yen to stabilize the market, something that several media outlets have reported.

Japanese Finance Minister Satsuki Katayama confirmed the effort on Monday, adding that she would not hesitate to expand the historic joint efforts if necessary, the Financial Times reports.

- US policymakers are monitoring the risks of spillover effects from Japan to global bond markets, strategist Masayuki Nakajim tells the FT.

On Monday, the Japanese yen rose about 1 percent to its highest level since May. 

Today's stock market
After Monday's record - now Bezos is selling shares in Amazon

On Monday, the e-commerce company Amazon reached the milestone of 3 trillion dollars in market capitalization. On Tuesday, documents show that founder Jeff Bezos is selling 15 million shares worth the equivalent of just over 40 billion kronor. CNBC reports.

After the founder's sales plans became known, Amazon's shares fell 2 percent.
 

Energy shift
Vattenfall invests in Germany – despite previous billion-dollar hits

State-owned Vattenfall plans investments of SEK 165 billion by 2030. Of the company's growth investments of SEK 92 billion, 68 percent will end up abroad, reports Dagens Industri.

Most of the investments will go to Germany, where Vattenfall has historically lost multi-billion dollars on deals.

- We are constantly learning and taking everything into account when weighing the risks, says CFO Kerstin Ahlfont to the newspaper.

Fuel prices
Gasoline price lowered again – to around SEK 14.60

Oil prices continue to fall on Tuesday, which has caused several chains to lower gasoline prices further.

The price of gasoline will be reduced by 55 öre on Tuesday to around 14.60 kronor. The price of diesel will be reduced by around 85 öre per liter, to around 19.10 kronor, reports TT.

Food prices
EU ban may push up the price of beef tenderloin

The import of Brazilian beef into the EU will be stopped from September 3rd after stricter rules on antibiotic use. This is expected to reduce the supply of beef tenderloin, among other things, and drive up prices in Swedish stores, meat wholesaler Norvida tells TT.

“It is the availability of these products, as well as the price picture, that consumers will notice in stores,” says marketing manager Maximilian Emanuelsson.

Norvida plans to replace Brazilian meat with imports from Uruguay, where production costs are higher.