Economy

Gas prices
Report: Strong El Niño needed to reduce gas demand

Europe needs an unusually strong El Niño to seriously reduce the need for liquefied natural gas this winter. The temperature must be at least two degrees above the historical average for demand to fall below last year's level, writes the analysis firm Rystad Energy in a new report.

"Forecasters assess that the probability of this is low."

The company's main scenario is a moderate El Niño. In that case, Europe is still expected to need to import around 7 million tons more liquefied natural gas until June 2027.

The climate threat  Disruptions in train traffic
Extreme heat hits Sweden's infrastructure

Extreme heat is putting Europe's roads and railways under great pressure, writes The New York Times. The problems are also being felt in Sweden. In June, a freight train derailed outside Bollebygd in Västra Götaland after a suspected sun curve. The heat causes the rails to expand and can also make the asphalt slippery.

“Europe’s transport system was built for a climate that no longer exists,” climate researcher Patrice Geoffron told the newspaper.

Adapting infrastructure to the climate requires major investments. At the same time, many European coffers are under pressure and money is being prioritized for defense, among other things. In Sweden, the Swedish Transport Administration was forced to reduce speeds and close railway lines this summer when temperatures rose.

The battle for clothing buyers
Online retailers see a trend break: Women are buying clothes again

Swedes’ consumption is showing signs of picking up. Household consumption rose by 1.6 percent in June compared to the previous month and clothing sales increased by 6.7 percent year-on-year in July. Boozt is also seeing a trend break, especially among women. This is reported by TT.

“Women’s Fashion recorded growth after several months of decline,” writes the online retailer.

Boozt increased sales by 13 percent in local currencies during the second quarter. At the same time, Björn Borg reported its highest operating profit ever for a first half of the year.

Middle East crisis  Iran war
US prepares for economic blow against Iran

Next week, the US is expected to present what Treasury Secretary Scott Bessent describes as historically tough economic measures against Iran, reports Bloomberg. The measures will be combined with the continued port blockade.

– We will take measures that have never been seen before when it comes to economically isolating a country, says Bessent.

Iran's economy is already hard pressed by the war and strangled oil exports. At the same time, negotiations with the US about the Strait of Hormuz are at a standstill.

Skanska takes multi-billion order – to build light rail line in LA

Skanska has signed an additional agreement to build a light rail in Los Angeles. The company's share of the contract is worth approximately SEK 8.9 billion.

The project includes a 10.8 kilometer long light rail line along Van Nuys Boulevard as well as a depot and eleven new stations.

Work has begun and is expected to be completed in December 2031 

Reactions to the tariffs
Tariff refund for Swedish companies – Elux receives 760 million

Swedish companies are starting to get money back after the US Supreme Court invalidated parts of Donald Trump's tariffs. Electrolux has been given the go-ahead for a refund of around 760 million kronor, but is also affected by new US sector tariffs.

- We are working to streamline and adapt our operations, but the import tariffs are already noticeable, says Ann-Sofi Jönsson at Electrolux to TT.

The tariffs contributed to price increases of 5–20 percent for the company's customers in North America in the second quarter.