Norwegian economy | This is what the newspapers write about economics on Thursday 28 July
– Bjørn has become very good at Google Earth (Finansavisen)
Bjørn Dæhlie earned a record 170 million last year. From Zug in Switzerland, he uses Google in constant search of new, lucrative plots of land that can be built in Norway. read more
Strong stock market rise in the US after interest rate hikes (NTB/E24)
The stock markets rose after Wednesday’s sharp interest rate hike in the US, and the Nasdaq index rose a whopping 4.1 per cent. For the US technology index, this was the biggest rise since 2020, according to E24. The broader S&P 500 index rose 2.6 percent, while the Dow Jones index rose 1.4 percent. read more
Oil stocks in the US fall more than expected (Finansavisen)
Over the past week, oil stocks in the US fell by 4.5 million barrels. read more
New triple interest rate jump in the US (NTB)
In an attempt to slow the high inflation, the US central bank has again raised the key interest rate by 0.75 percentage points. For the second time in a row, the central bank strikes with a so-called triple rent jump. read more
Rise on Oslo Børs on Wednesday (Finansavisen)
After Wednesday’s price rise of 24 percent, Hynion shareholders have doubled their money in one week. Oslo Børs rose 0.6 percent. read more
Stock crash now? (Trygve Hegnar’s manager, Finansavisen)
If you stick to the Norwegian market place Oslo Børs, you can probably get through in one piece. read more
Plunge in profits for Facebook owner – historic drop in income (The online newspaper)
Facebook owner Meta Platforms has to endure a sharp drop in profits from last year and for the first time experience a decline in income. The share falls sharply in after-market trading. read more
Ford shattered expectations (Finansavisen)
Ford increased its turnover by 50 per cent from last year. The share rises significantly in after-market trading. read more
Positive signals from Boeing and Hilton (Finansavisen)
Boeing reports an unexpected sale of passenger aircraft, while Hilton is experiencing a sharp setback in its hotel business. read more
Samsung’s operating profit by 12 percent (NTB)
Electronics giant Samsung increased its operating profit by 12 percent in the second quarter. read more
Calming words worth $200 billion (comment by Karl Johan Molnes) (Finansavisen)
First, Microsoft fell on weak numbers. Then management turned it into an upturn by calming the market. You’re smart when you manage to negotiate a price of almost 200 billion dollars – and that when the stock exchange is closed. read more
Equinor paid 80 billion in tax, SV will phase out the industry (Finansavisen)
Equinor paid NOK 80 billion in tax in the second quarter. Both SV and Bellona believe that there will not be one industry that I stand to replace the income from oil and gas. read more
Surprising turn: Biden’s giant plan for the United States closer to reality (NTB)
Democratic Senator Joe Manchin recently torpedoed hopes for a giant stimulus package by rejecting points on climate change and more taxes for the rich. Now he turns. read more
Burns 45 million a year on the daughter – just gets shut up (Finansavisen)
Kaia Rugseth (32) has built the pet store chain PetXL with 120 million from dad Jens and 67 million in debt. Last year she lost 25 million. This year she loses 45 million, and calls her father an idiot. read more
Equinor: – We don’t want them to invest like drunken sailors (Finansavisen)
– The investors want low investments outside Norway and cash back to the shareholders. This is perfect, says head of analysis John Olaisen at ABG Sundal Collier. read more
– Recessions are always good times for small banks (Finansavisen)
– The major foreign banks are reducing activity significantly, says Nordic Corporate Bank CEO Erling Astrup about tighter times. His goal is 50 percent profit growth. read more
Power crisis: Exports more than tripled last week (The online newspaper)
The Minister of Petroleum and Energy has asked the power producers to shell the hatches. Nevertheless, electricity exports jumped last week. read more
Electricity price shock in South-West Norway on Thursday (E24)
On Thursday, Southwest Norway sets a new historic electricity price record. Both Eastern Norway and parts of Western Norway get away with half price. A power analyst believes that prices in both the east and west may rise “drastically” in the future. read more
Record high electricity price in South-West Norway (The online newspaper)
Between 19.00 and 20.00 on Wednesday 27 July, the electricity price in South-West Norway was at a staggering NOK 4.72 per kilowatt hour (kWh). read more
Statnett is assessing the Mongstad situation (NTB)
Equinor CEO Anders Opedal makes it clear that the company will still shut down the gas power plant at Mongstad, despite the difficult energy situation. read more
Russia cuts gas supplies to Germany as announced (NTB)
Russian Gazprom has carried out its announced cut in gas deliveries to Germany via the Nord Stream 1 pipeline. read more
Vipps removes frequently used tricks (The online newspaper)
Now you will soon no longer be able to use this Vipps trick. read more
That is why hotel prices are sky high in Kristiansand (The online newspaper)
A large Norwegian city has room prices that in July are far above the other Norwegian cities. read more
Reacts strongly to the tipping culture in Norway: – Almost (The online newspaper)
Odd Roar Lange and Rune Nikolaisen believe restaurants and catering establishments are begging for money for services they do not provide. read more