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The Nordic Times

Polaris of Enlightenment

The Nordic Times

The Nordic Times

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https://nordictimes.com/economy/concern-in-the-vaccine-industry-after-kennedys-nomination/

Economy

Concern in the vaccine industry after Kennedy’s nomination

Published November 16, 2024 – By Editorial staff
RFK and Donald Trump during a campaign rally in Arizona.
2 minute read
Editorial staff
editorial@nordictimes.com

Share prices for a range of vaccine manufacturers and pharmaceutical companies around the world fell sharply on Friday.

The reason is widespread concern about what Trump's nomination of vaccine critic Robert F. Kennedy Jr. as secretary of health could mean for the historically lucrative sector.

Kennedy has vowed to crack down on Big Pharma and wants vaccines to be voluntary, safe and properly tested - and to fight corruption and powerful special interests in US public health.

Today, he says, no one knows exactly how dangerous vaccines are or whether they even prevent more problems than they cause. Kennedy also believes that not a single vaccine in the US vaccine program has been tested thoroughly enough to safely assess its risks and benefits.

The news that Trump has nominated RFK as the new Secretary of Health and Human Services was thus not received positively by industry players and in the US, shares in Pfizer fell by more than 4%, Moderna by about 7% and Astra Zeneca and GSK by more than 3% on Friday.

 

According to Russ Mould, director at investment platform AJ Bell, the election has “spooked” many of the pharmaceutical companies' shareholders and led to concerns about the future of the companies if Kennedy's nomination goes through.

– The impact on the sector is hard to judge fully at this stage but, at the very least, it will cause a good deal of uncertainty, he says.

Wants to see a number of changes

If Kennedy becomes the new health secretary, he would head a large and well-resourced agency that oversees everything from food safety to medical research and national health programs – including mass vaccination programs.

Kennedy has also called for more restrictions and bans on chemicals and dyes in food, the removal of ultra-processed foods from school lunches, and for pharmaceutical companies to be forced to be more transparent and share more information about their products than they do today.

The pharmaceutical industry is also concerned that with Trump as president, there will be less money to be made in the US market – as the president-elect wants to make it easier to import medicines from Canada.

"Have to wait and see"

Danish vaccine maker Bavarian Nordic's shares fell more than 15% on Friday but its CEO Paul Chaplin is urging shareholders to wait and see what changes Trump's presidency will bring to the industry.

He points out that during Donald Trump's first term, the company's smallpox and monkeypox vaccine business actually benefited and that it's hard to say what will happen this time.

– It is too early to say and we have to wait and see how things develop.

Danish Novo Nordisk and French Sanofi also fell sharply on Friday, with their shares dropping by just over five percent and just over three percent respectively.

Editorial staff
editorial@nordictimes.com

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https://nordictimes.com/economy/sweden-and-china-agree-on-grain-export-deal/

Economy

Sweden and China agree on grain export deal

Published November 14, 2025 – By Editorial staff
1 minute read
Editorial staff
editorial@nordictimes.com

Swedish Minister for Rural Affairs Peter Kullgren signed protocols during a visit to China that enable Swedish exports of oats and malt to the Chinese market. The agreement was reached during a delegation to the country from November 4-7, which also included representatives from the Swedish food industry.

China is Sweden's largest export market in Asia and is considered an important trading partner. The new export protocols establish the requirements that Sweden must meet to be able to export oats and malt to the country.

According to the Swedish government, the regulations include criteria for control, packaging, and inspection for exports to China.

— Increased exports are an important part of our efforts to increase food production. Therefore, today's signing of the export protocols for oats and malt is a welcome step in the right direction, said Kullgren in a press release.

Lantmännen's Deputy CEO Per Arfvidsson, who also participated in the trip, welcomed the decision and highlighted the importance of exports for increasing domestic food production. Lantmännen is a major Swedish agricultural cooperative.

— Increased exports are crucial for us to be able to increase food production in Sweden. For agriculture to grow, functioning markets are needed both at home and abroad. Sweden's opening for exports of oats and malt to China is an important step and demonstrates the potential that exists for Swedish raw materials and food products, said Arfvidsson.

Editorial staff
editorial@nordictimes.com

https://nordictimes.com/economy/record-layoffs-as-ai-takes-over-jobs-in-the-us/

Economy

Record layoffs as AI takes over jobs in the US

The future of AI

Published November 10, 2025 – By Editorial staff
2 minute read
Editorial staff
editorial@nordictimes.com

In October, American companies announced over 153,000 layoffs, the highest figure for the month in over 20 years. The increased use of AI technology is identified as a key factor behind the extensive workforce reductions.

The American outplacement firm Challenger, Gray & Christmas reports that October 2025 became a record month for layoffs with over 153,000 jobs eliminated, nearly three times more than the same month the previous year.

The technology and warehouse sectors are hit hardest, where AI combined with weaker demand and increased costs contributes to the cutbacks.

– Some industries are correcting after the hiring boom of the pandemic, but this comes as AI adoption, softening consumer and corporate spending, and rising costs drive belt-tightening and hiring freezes, says Andy Challenger, chief revenue officer at Challenger, Gray & Christmas.

He also warns that those now losing their jobs will find it harder to quickly secure new employment, which could further weaken the labor market.

Extensive cutbacks at major companies

Companies such as Target, Amazon, Paramount Skydance, Starbucks, Delta Air Lines, CarMax, Rivian, and Molson Coors have collectively eliminated tens of thousands of positions.

For example, Amazon recently laid off 14,000 employees and Target approximately 1,800. Several companies cite automation as a factor, as well as the need to reduce middle management positions.

UPS has also increased its planned workforce reductions by 70 percent to 34,000 people, stating that higher productivity thanks to automation makes this possible.

In total, over one million jobs have been eliminated in the US so far this year. Plans for new hires are at their lowest since 2011, and many analysts expect a weaker labor market during 2025.

–It’s possible with rate cuts and a strong showing in November, companies may make a late season push for employees, but at this point, we do not expect a strong seasonal hiring environment in 2025, says Challenger in his report.

Government shutdown complicates matters

Additionally, it has been difficult to assess the US labor market's development due to the federal government shutdown in the country – which has now become the longest ever.

Official economic statistics have not been released since early October, including the Department of Labor's closely watched employment report, which includes unemployment figures and monthly wage development data.

Federal Reserve Chair Jerome Powell noted during a press conference in October that private data cannot replace government figures, which are widely regarded as the gold standard for measuring the world's largest economy.

The continued absence of government figures may also negatively impact monetary policy and jeopardize future interest rate cuts in the US.

Editorial staff
editorial@nordictimes.com

https://nordictimes.com/economy/meta-earns-billions-from-fraudulent-ads/

Economy

Meta earns billions from fraudulent ads

Published November 7, 2025 – By Editorial staff
2 minute read
Editorial staff
editorial@nordictimes.com

Internal documents from Meta show that the company expected last year that ten percent of its revenue – $16 billion – would come from fraudulent ads. Instead of stopping suspected scammers, the tech giant often just charges higher prices for the ads.

The documents, reviewed by Reuters, reveal that Meta has failed for at least three years to stop an avalanche of ads that have exposed Facebook, Instagram, and WhatsApp users to fraudulent investment schemes, illegal online casinos, and sales of prohibited medical products.

Much of the fraud comes from marketers flagged by Meta's internal warning systems. But the company only bans advertisers if the probability of fraud is at least 95 percent. If the uncertainty is greater, Meta instead charges higher advertising prices as a "penalty fee" – the idea being to deter suspected advertisers.

In the United Kingdom, a regulatory authority found that Meta's products were involved in 54 percent of all payment-related fraud losses during 2023. In the United States, the Securities and Exchange Commission (SEC) is investigating Meta for fraudulent financial ads.

Fines smaller than revenue

Meta expects fines of up to $1 billion, according to an internal document. But these would be much smaller than the revenue from the fraudulent ads. Every six months, the company earns $3.5 billion just from ads that "present higher legal risk".

According to the documents, the company's leadership decided to only act in response to imminent regulatory actions – not voluntarily.

After a meeting with CEO Mark Zuckerberg in October 2024, Meta decided to gradually reduce the share of revenue from fraud from 10.1 percent in 2024 to 5.8 percent in 2027.

Meta spokesman Andy Stone says the documents "present a selective view that distorts Meta’s approach to fraud and scams". The estimate of 10.1 percent was "rough and overly inclusive" and included "many" legitimate ads, he says without providing an updated figure.

— Over the past 18 months, we have reduced user reports of scam ads globally by 58 percent, Stone says according to Reuters.

Editorial staff
editorial@nordictimes.com

https://nordictimes.com/economy/historically-weak-economy-for-small-businesses-in-sweden/

Economy

Historically weak economy for small businesses in Sweden

Published November 4, 2025 – By Editorial staff
More and more small businesses are now struggling to make ends meet financially. At the same time, an increasing number are pausing planned investments.
2 minute read
Editorial staff
editorial@nordictimes.com

Swedish small business owners are experiencing the weakest economic conditions since measurements began in 1985. Profitability is falling and six out of ten are worried about the future. At the same time, there is hope for a turnaround in 2026, according to this year's Small Business Barometer.

The year 2025 has been marked by continued difficulties for the country's small business owners. The expectations of improvement that existed during last year's measurement have not been fulfilled. On the contrary, the latest Small Business Barometer, published by Företagarna (the Swedish Federation of Business Owners), Swedbank, and the Swedish Savings Banks Association, shows that the economy has weakened further.

The overall economic indicator drops to -13.4, compared to -11 the previous year. This means that the measurement has been below the historical average for the sixth consecutive year. Small businesses are thus in the midst of an unusually prolonged period of economic adversity. Six out of ten business owners feel worried about the development.

Despite the bleak current situation, there are still signs of improvement. Looking ahead to next year, the economic indicator is expected to rise to 60, which approaches the historical average of 66.

— That investment plans are paused or cancelled is often a consequence of uncertainty. Companies carefully weigh the risks and prioritize keeping liquidity intact. It's a pattern we recognize from previous economic downturns, but also a behavior that can turn around quickly when confidence returns, says Jörgen Kennemar, business economist at Swedbank.

Shrinking margins

Profitability development gives cause for concern. The proportion of companies reporting good profitability has decreased from 84 to 77 percent. At the same time, the share earning enough to invest in the future has dropped from 50 to 42 percent. Most worrying is that 22 percent of companies now have difficulty making their operations financially viable, an increase from 16 percent the year before.

— The decline in profitability is a sign that margins are shrinking as high cost pressure has taken hold. Many companies choose to wait with investments until they see more stable demand and lower interest rates. It's rational, but at the same time means that the recovery risks being prolonged, notes Björn Elfstrand, CEO of the Swedish Savings Banks Association.

Weak demand slows growth

Lack of demand has become the primary growth obstacle for small businesses. Nearly one in four business owners, 24 percent, point this out as the biggest problem. Close behind comes difficulties in recruiting the right competence, which 15 percent cite as the main obstacle.

When business owners are asked what worries them most, 29 percent answer that they fear a sharp decline in customers' purchasing power.

— That demand is now highlighted as the biggest growth obstacle shows that the recovery is sluggish. It's a signal that households are holding tight to their wallets and that companies are therefore finding it increasingly difficult to grow in the domestic market. For the economy to turn around, a clear shift in consumption patterns is required, says Karl Ernlund, chief economist at Företagarna.

Editorial staff
editorial@nordictimes.com