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High debts, rising interest rates and a wilting economy has produced a toxic cocktail for Sweden's commercial property companies, with several cut to junk by rating agencies. Sweden and Germany are among the worst affected by a widening property slump on the continent, according to Eurostat. Swedish officials are worried that banks could compound property companies' troubled by cutting credit, triggering firesales that would further drag down the market. Financial markets minister Wykman said he had held discussions with banks, property companies and investors about the entire commercial property market. This week, analysts at JP Morgan said big banks in Sweden, which had 1 trillion Swedish crowns of property exposure, were 'ill-prepared' for losses.

Persons: Niklas Wykman, Wykman, Ilija Batljan, Batljan, JP Morgan, Finland's, SEBa.ST, Chiara Elisei, Sinead Cruise, John O'Donnell, Toby Chopra Organizations: Organisation for Economic Cooperation, Development, Financial, Reuters, Eurostat, OECD, Reuters Graphics, SBB, JP, Thomson Locations: STOCKHOLM, FRANKFURT, Europe, Sweden, Germany, Stockholm, Swedish, Spain, Ireland, London

Last week, golf’s premier circuit, the PGA Tour, announced it was partnering with its rival circuit LIV Golf, an upstart league backed by Saudi Arabia, giving the country a powerful new seat at the table of international sports. Alan Blinder, who covers golf for The New York Times, explains what was behind the deal and what it means for the business of sports.

Persons: LIV, Alan Blinder Organizations: PGA Tour, The New York Times Locations: Saudi Arabia

Erdogan spoke as officials from Turkey, Sweden, Finland and NATO met on Wednesday in Ankara for talks to try to overcome Turkish objections holding up Sweden's NATO membership bid. The parties agreed to continue working on the "prospective concrete steps" for Sweden's NATO membership, the statement said. In justifying its objections to Swedish membership, Turkey has accused Stockholm of harbouring members of Kurdish militant groups it considers to be terrorists. While he was having talks with NATO Secretary-General Jens Stoltenberg earlier this month, a similar protest was held in Stockholm, Erdogan said. He added that he also told Stoltenberg Sweden should prevent such actions to secure Turkey's approval for its NATO membership.

Persons: Tayyip Erdogan, Umit, Erdogan, Oscar Stenstrom, Stenstrom, Jens Stoltenberg, Stoltenberg, Huseyin Hayatsever, Simon Johnson, Johan Ahlander, Niklas Pollard, Daren Butler, Nick Macfie, Mark Heinrich Our Organizations: REUTERS, NATO, Wednesday, Turkish, Atlantic Treaty Organization, Kurdistan Workers Party, European Union, Ece Toksabay, Thomson Locations: Ankara, Turkey, ANKARA, Sweden, Stockholm, Azerbaijan, Finland, Madrid, Ukraine, Hungary, extraditions, Stoltenberg Sweden, Vilnius

Donald Trump was arraigned in Miami yesterday on 37 criminal counts covering seven different violations of federal law, including the handling of classified documents. Three New York Times journalists covered the proceedings: Glenn Thrush was inside the courtroom, Luke Broadwater reported from outside the courthouse, and Maggie Haberman was at Mr. Trump’s home in Bedminster, N.J.

Persons: Donald Trump, Glenn Thrush, Luke Broadwater, Maggie Haberman, Trump’s Organizations: New York Times Locations: Miami, Bedminster, N.J

Tech giants Microsoft and Alphabet/Google have seized a large lead in shaping our potentially A.I.-dominated future. of Alphabet/Google, unveiled a suite of A.I. While there is some discussion as to whether Meta’s recent decision to give away its A.I. History has repeatedly demonstrated that control over information is central to who has power and what they can do with it. At the beginning of writing in ancient Mesopotamia, most scribes were the sons of elite families, primarily because education was expensive.

Persons: Sundar Pichai Organizations: Tech, Microsoft Locations: ChatGPT, Mesopotamia, Europe

Candidates for the Republican presidential nomination keep entering the field, despite the fact that Donald Trump polls consistently as the front-runner and Ron DeSantis has emerged as the clear No. Why do so many lesser-tier Republicans think they have a real shot? Shane Goldmacher, a national political correspondent for The Times, offers a guide to the new crop of candidates and discusses their rationale for running.

Persons: Donald Trump, Ron DeSantis, Shane Goldmacher Organizations: Republican, Republicans, The Times

A few weeks ago, footage showing asylum seekers, including young children, being rounded up, taken to sea and abandoned on a raft by the Greek Coast Guard was sent to The New York Times. Matina Stevis-Gridneff, The Times’s bureau chief in Brussels, discusses how she proved the truth of the tip that a major European government was carrying out an illegal scheme risking the lives of civilians.

Persons: Matina Organizations: Greek Coast Guard, The New York Times Locations: Brussels

Voters in the 2022 midterms seemed to send a clear message — a rejection of Trumpism and extremism. And yet it appears increasingly likely that he will win the Republican nomination for the 2024 presidential election. Astead W. Herndon, a national political correspondent for The Times and the host of the politics podcast The Run-Up, explains what shifted in Republican politics so that Mr. Trump’s nomination could start to seem almost inevitable.

☆ Former IMF chief economist on why the current banking crisis is unlike the 2008 meltdown
▼ + stars: | 2023-05-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer IMF chief economist on why the current banking crisis is unlike the 2008 meltdownSimon Johnson, MIT professor and former IMF chief economist, joins 'Squawk Box' to discuss the banking crisis, why it's inappropriate to compare it to the 2008 meltdown, and what lessons can be drawn from the current turnmoil.

For two decades, President Recep Tayyip Erdogan has loomed large over Turkish politics. But skyrocketing inflation and a devastating earthquake have eroded his power and, in a presidential election over the weekend, he was forced into a runoff. Ben Hubbard, The Times’s Istanbul bureau chief, discusses how Turkey’s troubles have made Mr. Erdogan politically vulnerable.

☆ Swedish inflation dips more than expected in April, easing cbank worries
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +2 min

Stripping out volatile energy prices - a measure the central bank is looking closely at - underlying inflation was 8.4% on the year. For headline inflation, analysts had forecast 7.9%, the same as the Riksbank. Underlying inflation was seen by analysts at 8.7% and at 8.6% by the Riksbank. Another quarter-point hike is expected in June or September, before the tightening cycle comes to an end. Policy-makers said they were ready to rethink the plan if price pressures did not fall back as expected.

This week, thousands of writers went on strike against Hollywood studios over what they say is an existential threat to their livelihoods. John Koblin, a media reporter for The New York Times, explains how streaming turned the most prolific era in American entertainment into an industry-changing labor dispute.

For the past few months, a single lawmaker has prevented Democrats from carrying out their agenda in Congress. For now, there is no simple solution in sight. Annie Karni, a congressional correspondent for The Times, explains the issue surrounding Senator Dianne Feinstein.

☆ Head of Sweden's No. 2 party calls for rethink of relations with EU
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +2 min

STOCKHOLM, May 2 (Reuters) - Sweden should seek more exemptions from EU laws as part of a reset in relations with the 27-member bloc, the head of the Sweden Democrats, the country's second largest party and an informal part of the government, said on Tuesday. Swedes are among the most positive in Europe regarding EU membership, with 68% in support, according to a survey by Gothenburg University in March. The Sweden Democrat's EU-sceptic stance was long seen as an obstacle to their acceptance into the political mainstream and the party dropped that demand in 2018. As part of the deal, the Sweden Democrats have been able to exercise considerable influence on policy, pushing for tougher immigration rules and watered-down ambitions on climate change. The Sweden Democrats have threatened to bring down the coalition if it doesn't cut taxes on fuels and stand up to the EU over asylum quotas.

This month, an anonymous producer jolted the music industry by using artificial intelligence to impersonate the singers Drake and the Weeknd, creating a fake track, “Heart on My Sleeve,” that quickly went viral. Joe Coscarelli, a culture reporter for The Times, talks about how the song’s rise and fall could presage widespread changes in the way music is made.

☆ Countries rush Sudan evacuations, fearful of violence rocking Khartoum
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +2 min

KHARTOUM, April 24 (Reuters) - A German air force plane with 101 people evacuated from Sudan landed in Berlin early on Monday, as countries rushed to extract their citizens from Khartoum amid a deadly power struggle between the army and a paramilitary force. Sweden said that all its embassy staff in Khartoum, their families and an unspecified number of other Swedes had been evacuated to nearby Djibouti. Others are via Port Sudan on the Red Sea, which is about 650 km (400 miles) northeast of Khartoum, but is about 800 km (500 miles) by road. The German military did not provide a break-down of how many of those evacuated were German citizens or nationals from other countries. The fighting in Sudan has triggered a humanitarian crisis in the impoverished country, where millions of people have been left without access to basic services.

Asthaa Chaturvedi and MJ Davis Lin and Dan Powell andLast week, a 21-year old airman from Massachusetts, Jack Teixeira, was arrested under the Espionage Act and charged with violating federal laws by sharing top secret military documents with an online gaming group. Dave Philipps, a military correspondent for The Times, explains why so many low-level government workers have access to so much classified material.

☆ US looking forward to Sweden becoming NATO member before July summit: Austin
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +2 min

[1/5] Swedish Minister for Defence Pal Jonson and U.S. Secretary of Defense Lloyd Austin hold a news conference at Musko Naval Base, Sweden April 19, 2023. Sweden's accession has been held up by Turkey and Hungary, who have yet to ratify Sweden as a member. "We look forward to soon welcoming Sweden as the 32nd (member of NATO). To be clear, we look forward to that to happen before the summit in July," Austin told a news conference. Austin was in Sweden to hold talks with Defence Minister Pal Jonson about the war in Ukraine and Sweden's NATO application.

☆ Swedish prosecutor says may be difficult to determine who blew up Nord Stream pipelines
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +1 min

STOCKHOLM, April 6 (Reuters) - It will likely be difficult to determine who blew up the Nord Stream pipelines connecting Russia and Germany in the Baltic Sea last year, Sweden's prosecution authority, which is investigating the incident, said on Thursday. The Sept. 26 explosions at the pipelines connecting Russia and Germany occurred in the economic zones of Sweden and Denmark. The blast in the Swedish zone happened at a depth of 80 meters and the prosecutor said investigating it was complicated. While no conclusion has been drawn there have been a number of theories as to who blew up the pipelines and how. Germany has confirmed its investigators raided a ship in January that may have been used to transport the explosives used to blow up the pipelines.

☆ Explainer: After Finland joins NATO, why is Turkey making Sweden wait?
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +4 min

BACKGROUNDRussia's invasion of Ukraine in February last year convinced Sweden and Finland to ditch long-held policies of military non-alignment. WHY DOES TURKEY OBJECT TO SWEDISH NATO MEMBERSHIP? Unlike Turkey, Hungary does not have a list of demands, but says grievances need to be addressed before it can ratify Sweden's accession to NATO. WHEN WILL TURKEY AGREE TO SWEDISH NATO MEMBERSHIP? NATO Secretary-General Jens Stoltenberg has said it would be inconceivable that the alliance would not support Sweden if it were threatened.

☆ Former IMF chief economist: We should have insurance for operational deposits
▼ + stars: | 2023-03-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer IMF chief economist: We should have insurance for operational depositsSimon Johnson, former IMF chief economist and MIT Sloan professor, joins 'Squawk Box' to discuss whether Congress needs to create legislation to insure deposit, if this framework can be done with bipartisan support, and more.

[1/3] Turkey's President Tayyip Erdogan and Finland's President Sauli Niinisto shake hands during their meeting in Ankara, Turkey March 17, 2023. The parliaments of all 30 NATO members must ratify newcomers. "We have decided to initiate the ratification of Finland's accession process to NATO in our parliament," Erdogan told reporters after meeting with Niinisto, adding he hoped parliament would endorse the bid before May 14 elections. Amid simmering tensions with Sweden, Erdogan signalled in January that Turkey could endorse Helsinki ahead of Stockholm. Washington and other NATO members had hoped the two Nordic countries would join the alliance at a NATO summit set for July 11 in Vilnius.

☆ The situation in the U.S. is really under control at the moment, says former IMF chief economist
▼ + stars: | 2023-03-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe situation in the U.S. is really under control at the moment, says former IMF chief economistFormer IMF chief economist Simon Johnson joins 'Squawk Box' to discuss if there's reason to be worried about the global banking system, concerns about the other European banks, and more.

☆ Analysis: Sweden faces recession as housing market troubles take toll on economy
▼ + stars: | 2023-03-15 | by ( Simon Johnson | ) www.reuters.com time to read: +6 min

But in Sweden, the structural problems rooted in its housing market are magnifying the effects. Banking group Nordea (NDAFI.HE) expects household consumption to fall around 2% in 2023, while the National Board of Housing expects housing starts to fall around 50% in the coming year compared with 2021. "However, in the last few months, the interest rate has almost tripled making it almost unaffordable to survive," Logan said. Sweden's banks are among the most strongly capitalised in Europe - partly as a result of worries about the housing market. But Sweden's economy is likely to remain a hostage to imbalances in the housing market while its structural problems go unresolved.

☆ Sweden, Finland and Turkey hold NATO talks, agree to more meetings
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +2 min

STOCKHOLM/ISTANBUL, March 9 (Reuters) - Turkey has acknowledged that Sweden and Finland have taken concrete steps to meet Ankara's concerns over their bids to join NATO and the three will hold further meetings, Sweden's chief negotiator in the accession process said on Thursday. Sweden and Finland applied last year to join NATO, but faced unexpected objections from Turkey which says the two countries harbour members of the Kurdistan Workers Party (PKK), considered a terrorist group by Ankara and its Western allies. "We see that Turkey recognized that both Sweden and Finland have taken concrete steps in this agreement, which is a good sign," chief negotiator Oscar Stenstrom told a news conference at NATO headquarters after trilateral talks resumed. President Tayyip Erdogan's spokesman, Ibrahim Kalin, said steps taken by Sweden and Finland to address Ankara's security concerns were positive, but not enough for Turkey's ratification of their NATO bid. In January, Turkey suspended talks set up as part of a trilateral deal agreed in Madrid last year aimed at smoothing Finland and Sweden's accession process.

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