Monday, October 27, 2025
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Monday, October 27, 2025

Polaris of Enlightenment

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This article was published 1 year ago

https://nordictimes.com/economy/340-employees-to-leave-northvolt/

Economy

340 employees to leave Northvolt

Published October 19, 2024
– By Editorial Staff
Northvolt does not seem to be the success story it was first portrayed to be.
1 minute read
Editorial Staff
editorial@nordictimes.com

In September, the management of Swedish battery manufacturer Northvolt issued layoff notices to 1,600 employees. After negotiations it is now clear that 338 employees will lose their jobs.

Negotiations between the employer and union representatives have been concluded, and Unionen confirms that hundreds of employees will be laid off from the once-hyped battery manufacturer.

– It has been a month of difficult negotiations and decisions made under enormous time pressure for our elected representatives, which we have been very critical of. But these tough decisions have to be made to secure the future of the company, Shaneika Jeffreys, vice president of the trade union Unionen at Northvolt in Skellefteå, told Swedish state broadcaster SVT.

In total, 180 employees will be laid off at Northvolt One in Skellefteå, in addition to another 124 employees in Skellefteå, 20 in Stockholm and 14 in Västerås who work for the subsidiary Northvolt Expansion.

– The anxiety of not knowing has been hard for many, so we are pleased to have concluded the negotiations so that the affected members no longer have to wait for a final decision from the employer, continues Jeffreys.

Negotiations between Northvolt and the trade union If Metall are still ongoing and although it is not clear how many people will be laid off, there is great concern that nearly 1,300 more employees will lose their jobs.

Editorial Staff
editorial@nordictimes.com

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https://nordictimes.com/economy/german-companies-pressured-by-chinese-demands-for-trade-secrets/

Economy

German companies pressured by Chinese demands for trade secrets

Published today 2:45 pm
– By Editorial Staff
Rare earth metals on display at a geology exhibition in Hohhot, Inner Mongolia, China, 2011.
2 minute read
Editorial Staff
editorial@nordictimes.com

German companies are reportedly being forced to hand over sensitive industrial information to China in exchange for time-limited licenses for deliveries of rare earth metals. The demands have raised concerns for Germany's economy and security.

German industry has found itself in a difficult dilemma in the wake of China's growing dominance over the production of rare earth metals, reports Bloomberg.

Since spring 2025, China has introduced extensive export controls and requires companies wishing to import critical raw materials to disclose detailed information about their operations. This can include product images, data on mineral usage, production flows, annual statistics and future forecasts, as well as customer lists.

This has quickly become a requirement for obtaining even temporary import licenses – licenses that often are valid for as short a period as six months.

China today dominates a large portion of global refining and processing of rare earth metals, making many European economies heavily dependent on Chinese supplies. German industry can be said to be particularly exposed.

Difficult trade-offs for German industry

The new regulations have already forced several smaller manufacturers to shut down, while larger players now face difficult trade-offs: disclose sensitive information and risk competitive disadvantages, or risk losing access to raw materials.

Trade relations have also been complicated by China now often requiring business information about customer bases and production chains in license applications. Analysts warn that through such data collection, China can map European companies' vulnerabilities and use them as strategic leverage.

The European dependence on Chinese supplies makes companies vulnerable to pressure, and creates broader concerns for economic stability and national sovereignty.

During 2025, the EU and German industry organizations have intensified pressure on Brussels and Berlin to accelerate the diversification of supply chains and secure alternative raw material sources.

Several initiatives are being launched to strengthen mining operations and semiconductor production in Europe, but experts warn that the path to independence is long.

Ultimately, the situation illustrates how China's control over strategic raw materials can quickly be transformed into an instrument of power in global trade relations. For German companies, the demands represent significant uncertainty regarding trade secrets, competitiveness and supply stability.

Editorial Staff
editorial@nordictimes.com

https://nordictimes.com/the-nordics/sweden/a-grim-weekend-for-swedens-sense-of-safety/

Sweden

A grim weekend for Sweden’s sense of safety

Deteriorating safety

Published yesterday 6:12 pm
– By Editorial Staff
Several acts of violence have shaken Sweden in a short period of time.
3 minute read
Editorial Staff
editorial@nordictimes.com

The wave of violence in Sweden continues with several shootings in the Stockholm area and a suspected aggravated rape in Malmö, southern Sweden.

It has been a dark weekend for Swedish safety. Several serious violent crimes have shaken many cities in less than 48 hours. Police have responded across the country, but many perpetrators have not yet been apprehended and residents report growing concerns.

Shootings in Stockholm County

Rinkeby

Late Saturday evening, a man in his mid-twenties was found shot outdoors in Rinkeby, a suburb of Stockholm. Police were alerted shortly after 9:30 PM and dispatched numerous resources to the scene. The search for the perpetrator is ongoing.

In the police press release, it was stated that the extent of the shooting victim's injuries is unclear and that the person has not yet been identified. Simultaneously, extensive operations connected to the incident were conducted throughout the police region.

– It's a broad search across large parts of Stockholm. We're searching in several different ways, including through regular patrols, information gathering, witness statements, and by reviewing surveillance cameras, said Daniel Wikdahl, press spokesman for the Stockholm region, during Saturday evening.

Södertälje

On the evening of October 24, a shooting was reported in Fornhöjden, Södertälje, a city south of Stockholm. Two people were hit near a car, and one of them later died at the scene. Two people were arrested in connection with the incident.

Police immediately initiated a preliminary investigation for attempted murder and are seeking witnesses. The alarm came at 9:23 PM, and several people heard shots. The area was cordoned off and a major operation was launched to find suspects and secure evidence.

– Several people have been arrested suspected of murder, says police press spokesman Nadya Norton.

Suspected outdoor rape in Malmö

An 18-year-old woman is suspected to have been subjected to rape in Pildammsparken in Malmö during Friday evening. The woman contacted police and reported that she felt she was being followed.

When police arrived at the scene, suspicions arose that the woman had been subjected to aggravated rape.

– There is no information that the suspected perpetrator is someone known to her – this is a stranger rape, says police press spokesman Evelina Olsson.

No suspect has yet been apprehended.

New shooting in Gävle - attempted murder in Finspång

Gävle / Brynäs

During Friday evening, several people were shot in the Brynäs district of Gävle, a city in central Sweden. A young man in his late teens has died and another was seriously injured. The incident is classified by police as murder/manslaughter and a large area was quickly cordoned off for technical examination.

– Relatives have been notified and another person is being treated in hospital with serious injuries, police press spokesman Magnus Jansson Klarin in a comment to tax-funded SVT (Swedish public broadcaster).

Saturday's shooting comes only three weeks after Gävle was hit by a mass shooting where six people were struck by bullets. No one sustained life-threatening injuries at that time.

Police are now investigating whether there are connections between the two shootings and see clear concerns about gang-related crime in the area.

– It's no news that there is a conflict situation right now in Gävle given recent events. That something more could happen is not entirely unthinkable either, says Magnus Jansson Klarin.

Finspång

A 45-year-old man was seriously injured in a fight at a restaurant in Finspång, a town in southeastern Sweden, during Friday evening. The man was taken to hospital after being stabbed with a sharp object. Police are handling the case as suspected attempted murder.

The suspected perpetrator is still at large, while police report that two people have been arrested suspected of harboring a criminal.

The wave of violence

The weekend's wave of violence, particularly the shootings in Stockholm and Gävle, underscores a worrying trend of escalating violence in populated residential areas. Several are linked to suspected gang crime.

Despite extensive police operations, arrests are lacking in several cases. It is clear that the threat to Swedish safety is not concentrated in one place but is spreading across several regions.

Editorial Staff
editorial@nordictimes.com

https://nordictimes.com/the-nordics/sweden/young-swedes-see-alcohol-as-more-dangerous-than-cannabis/

Sweden

Young Swedes see alcohol as more dangerous than cannabis

Published yesterday 3:58 pm
– By Editorial Staff
Young people have a significantly more liberal view on cannabis than older generations.
1 minute read
Editorial Staff
editorial@nordictimes.com

Every other young Swede believes that alcohol is more harmful to health than cannabis, according to a new survey. Researchers confirm that young people are right – but simultaneously warn strongly against legalization.

In a survey conducted by Verian on behalf of SVT (Swedish public broadcaster), 1,000 Swedes were asked which drug they believe is most harmful: alcohol or cannabis. The results show that 51 percent of respondents between 18 and 29 years old consider alcohol to pose the greater health risk. Only 37 percent believe cannabis is more dangerous.

Among the 30-79 age group, the relationship is reversed – 61 percent assess cannabis as more dangerous while 24 percent point to alcohol.

— Based on existing research, alcohol is clearly more harmful to health, says Mats Ramstedt, research director at CAN (the Swedish Council for Information on Alcohol and Other Drugs), to the tax-funded SVT.

However, experts do not believe that cannabis should be legalized in Sweden. Addiction expert Markus Heilig argues that it would simply be a "serious mistake" when looking at alcohol's impact on society.

— We have a reality where society has already accepted alcohol use, where the harm from alcohol is enormously large. Should we now add harm from widespread cannabis use to the already significant damage?

Editorial Staff
editorial@nordictimes.com

https://nordictimes.com/economy/climate-alarmist-al-gore-takes-over-struggling-stegra/

Economy

Climate alarmist Al Gore takes over struggling Stegra

The exaggerated climate crisis

Published October 23, 2025
– By Editorial Staff
The Stegra factory outside Boden, Sweden is severely delayed and facing an acute financial crisis.
3 minute read
Editorial Staff
editorial@nordictimes.com

The crisis deepens for Swedish-based steel company Stegra as financier Harald Mix steps down from the chairman position and his investment company Vargas Holding withdraws.The new largest owner will instead be Just Climate, a subsidiary of notorious climate activist Al Gore's environmental investment firm.

This despite the company not yet having started production and facing the risk of running out of cash within a few months

Stegra's largest owner Vargas Holding is now leaving the "climate-smart steel" project following Harald Mix's departure as board chairman. Instead, Just Climate is stepping in as the new principal owner, according to reports to Schibsted-owned Svenska Dagbladet.

Just Climate is an investment company founded by prominent activist Al Gore, and belongs to the asset management firm Generation Investment Management. Since its launch in 2021, the company has attracted approximately €1.3 billion from investors for climate projects, with Stegra being one of them.

Harald Mix will be replaced by Shaun Kingsbury, who according to reports will become the new board chairman for Stegra. However, Mix will continue to work with and advocate for the project.

— My confidence in the company remains unshaken and I will continue to support the company financially as an investor and in my work as an active board member, Harald Mix stated to Dagens Industri.

Al Gore at a World Economic Forum meeting in 2020. Photo: World Economic Forum/CC BY-NC-SA 2.0

Large pension funds behind the fund

Among the investors in Just Climate are two Swedish state-owned AP funds, Second AP Fund and Fourth AP Fund, which together manage tens of billions of euros in pension assets.

The funds' investment in Just Climate is currently estimated at approximately €55 million – a relatively modest amount compared to their total capital, but still a source of concern as the project finds itself in deep crisis.

The fact that Swedish pension money has once again been invested in a high-risk project has sparked reactions, not least after the Northvolt fiasco – a corporate collapse that cost Swedish taxpayers billions.

Financial crisis and comparison with Northvolt

Stegra has not yet begun production of fossil-free steel at the factory to be built in Boden, northern Sweden. The production start is currently postponed until the turn of 2026/2027, while both costs and debts have skyrocketed.

According to reports from Financial Times, Stegra is burning through approximately €270 million per month and risks running out of money within two months unless credit facilities are granted. Major bank Citigroup has reportedly also withdrawn from the financing.

The crisis at Stegra has been compared to the bankruptcy of battery manufacturer Northvolt earlier this year, and a source with insight says: — This is starting to look more and more like Northvolt. It's hard to see anything other than investments being written off.

If the project collapses, Swedish pension savers risk major losses once again. Among others, AMF Pension (a major Swedish pension fund) has invested €165 million in the company, and Third AP Fund is involved as an investor through private equity firm Altor – founded by Mix and Stegra's second-largest owner.

Editorial Staff
editorial@nordictimes.com

Al Gore – politician, activist and businessman

Al Gore, born March 31, 1948 in Washington D.C., served as US Vice President under Bill Clinton from 1993 to 2001. After the controversial 2000 presidential election, he devoted himself entirely to climate issues. The documentary An Inconvenient Truth (2006) made him a global climate alarmist figure, and in 2007 he shared the Nobel Peace Prize with the UN's climate panel, the IPCC.

Parallel to his activism, Gore has built up significant economic interests. He is co-founder of Generation Investment Management, a London-based investment firm focused on "sustainability", and its subsidiary Just Climate, now the largest owner in Stegra, has raised billions of euros from institutional investors, including Swedish pension funds.

Critics question whether Gore's economic involvement undermines the credibility of his activism, while supporters argue that investments in sustainable companies are necessary for the so-called green transition.

Gore is also founder of The Climate Reality Project, which works with opinion formation and education on environmental and climate issues globally. At the same time, he has established close connections to international power networks, including the World Economic Forum and other influential global economic and political platforms. This strengthens his influence, but has also raised questions about how close cooperation with major economic and political interests actually affects his role as an activist and opinion leader.

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