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☆ Swedish property firms should cut debt, raise equity, Riksbank chief says
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +3 min

Commercial property companies ramped up borrowing when rates were low and some are now struggling to pay off or roll-over debt after eight interest rate hikes by the central bank. Thedeen said many companies in the commercial real estate sector needed to restructure their balance sheets. Even if rates have peaked, problems for the commercial real estate sector are not over. Short-dated debt and large refunding needs mean "the Swedish property sector has more risk" than in other European countries, Maria Gillholm, senior credit officer at Moody's, said. The commercial real estate sector triggered a financial crisis in Sweden in the early 1990s and authorities have said it is once again the biggest risk to financial stability.

Persons: Erik Thedeen, Jonas Ekstromer, Thedeen, It's, Riksbank, Moody's, Maria Gillholm, Simon Johnson, Terje Solsvik, Essi Lehto, Susan Fenton Organizations: TT, Agency, Rights, Moody's, Thomson Locations: Stockholm, Sweden, Swedish, Europe

CNN —Ukrainian pilots have started joint training on F-16 fighter jets with US instructors in Ukraine, according to Kyiv. It landed at our airfields, we conducted joint training with F-16 pilots … A day ago two of my pilots were tested by US instructors,” Ukrainian Air Force Commander Oleksandr Oleshchuk told Ukrainian state TV on Saturday. An F-16 fighter jet performs at an air show in Houston, the United States, on Oct. 10, 2020. Denmark and the Netherlands have taken the lead in preparing a program to train Ukrainian pilots on the American jet, but the US is still working with other countries to see who may provide F-16s to the Ukrainian Air Force. Denmark said Ukrainian pilots would begin training on F-16 jets later this month, part of a coalition of 11 countries that will be involved in the training program.

Persons: …, Oleksandr Oleshchuk, Oleshchuk, Oleksii Reznikov, Reznikov, ”, Lao Chengyue, Volodymyr Zelenskiy, Ulf Kristersson, Jonas Ekstromer, Reuters Archer, Volodymyr Zelensky, “ Archer, ” Zelensky, Archer, “, Zelensky Organizations: CNN, Ukrainian, Ukrainian Air Force, Ukrainian Defense, Getty, NATO, Swedish, TT, Agency, Reuters, Sweden Ukrainian, Archer, Sweden’s, Swedish Archers, Gripen Locations: Ukraine, Kyiv, Ukrainian, Houston, United States, Xinhua, Denmark, Netherlands, Harpsund, Sweden, Swedish

☆ US, EU agree firm stance on China at trade, tech meeting
▼ + stars: | 2023-05-31 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +3 min

The two partners sought at their Trade and Technology Council in Sweden to find common interests, such as over artificial intelligence and future trade in environmentally-friendly goods, but China proved a pervasive topic. The statement said the EU and the United States were deeply concerned about foreign information manipulation, interference and disinformation. The European Union plans to recalibrate its China policy, recognising coordination with a more hawkish United States is essential. U.S. Secretary of State Antony Blinken said the EU's and the United States' views of China had increasingly converged, noting neither was looking for confrontation. They also said they were committed to working with the G7 to coordinate action to counteract acts of economic coercion, which would include trade restrictions the EU says China has imposed on EU member Lithuania.

Persons: Antony Blinken, Margrethe Vestager, Jonas Ekstromer, you've, Philip Blenkinsop, Emelia Sithole Organizations: European, Trade, Technology Council, TT News Agency, REUTERS, European Union, TTC, EU, Lithuania, Thomson Locations: Lulea, Sweden, REUTERS LULEA, United States, Ukraine, China, EU, Brussels, recalibrate, Africa, Latin America

☆ Finland's Marin in battle over state spending to stay in power
▼ + stars: | 2023-03-30 | by ( Anne Kauranen | ) www.reuters.com time to read: +4 min

Marin says spending on education and health services is key to securing economic growth. Her rivals, Petteri Orpo of the right-wing National Coalition Party and Riikka Purra of the nationalist Finns Party, are calling for fiscal austerity to restore government finances. Marin's Social Democrats believe economic growth will help Finland stop accruing more debt and, if need be, prefer raising taxes over spending cuts. Marin has rejected forming a government with the Finns Party, calling it "openly racist" during a debate in January - an accusation Purra sternly rejected. Her party would also push back Finland's carbon neutrality target which Marin's ruling coalition set for 2035.

☆ Mysterious flying objects across the US probably aren't aliens, but experts believe life is out there. Here are 13 reasons why we haven't made contact yet.
▼ + stars: | 2023-02-13 | by ( Aylin Woodward | Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: 1 min

Even if intelligent aliens aren't flying overhead, though, many experts believe they're out there. Nobel Physics Laureate Didier Queloz speaks during a press conference at the Royal Swedish Academy of Sciences in Stockholm, Sweden. Jonas Ekstromer /TT News Agency via AP"I can't believe we are the only living entity in the whole universe. Queloz had just won the Nobel prize in physics for his discovery of the first exoplanet orbiting a sun-like star. He said that his work has led him to become "absolutely convinced" that humans will detect alien life in the next 100 years.

☆ Why Processing Sweden’s Rare-Earth Haul Won’t Be Easy
▼ + stars: | 2023-02-09 | by ( Yusuf Khan | ) www.wsj.com time to read: +4 min

The find is adjacent to the company’s Kiruna iron-ore mine, an operation that would eventually be expanded to extract the rare earths plus phosphorus, a critical mineral for fertilizers. The company said it would take 10 to 15 years to start recovering the rare earths. LKAB facilities in Kiruna, Sweden. Also, LKAB reported that its find has a total rare-earth oxide level of 0.18%, a low level of concentration. U.K.-based Pensana PLC aims to mine rare-earth concentrates in Angola, before separating and processing them in the north of England.

[1/2] European Commission President Ursula von der Leyen and Sweden's Prime Minister Ulf Kristersson attend the inauguration of Esrange's new satellite launch ramp, Spaceport Esrange outside Kiruna, Sweden, January 13, 2023. The Commission is planning to loosen state aid rules, but some EU countries can spend more than others. Von der Leyen said the bloc needed "credible and ambitious" financing tools to preserve the single market. She said the Commission was working on an assessment of what the EU clean tech sector needed to compete with U.S. rivals. Yet Scholz's own Social Democrats published a paper on Thursday saying that new EU joint borrowing should be "constructively examined".

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