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Thursday, October 30, 2025

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https://nordictimes.com/economy/swedish-food-giant-axfood-reports-strong-operating-profit/

Economy

Swedish food giant Axfood reports strong operating profit

Published July 13, 2025 – By Editorial staff
1 minute read
Editorial staff
editorial@nordictimes.com

The Swedish food retail market continues to grow despite economic uncertainty. Axfood, one of the country's largest players, reports profit growth of just over eleven percent for the second quarter and continues to gain market share from competitors.

Swedish consumers are spending increasingly larger amounts on food, and grocery chains are benefiting from this development. Axfood, which operates Willys, Hemköp and since November last year also City Gross, reports operating profit that rose 11.7 percent during the year's second quarter compared to the same period in 2024.

The result exceeded financial analysts' forecasts, while revenue growth of 9.3 percent fell slightly below market expectations. In total, the group had revenue of nearly €2.1 billion during the quarter.

Automation delivers lower costs

Behind the strong profitability development lie extensive investments in modern logistics solutions and automation. According to the company, the investments have led to improved efficiency and strengthened competitiveness.

Going forward, the efficiency measures are expected to generate cost savings of €7.3 million annually. Axfood simultaneously confirms its investment plans of €146-155 million during 2025 as well as the goal of opening 10-15 new stores.

Editorial staff
editorial@nordictimes.com

Facts: Axfood

Axfood is controlled by the family company Axel Johnson AB, which owns 50.1 percent of the shares. Behind Axel Johnson AB stands the Ax:son Johnson family with Antonia Ax:son Johnson as the main owner, and since January this year the group has been led by Caroline Berg, who is Antonia's daughter.

The Axel Johnson Group, which has 150 years of history, owns in addition to Axfood also the IT company Dustin, restaurant wholesaler Martin & Servera, investment company Novax and industrial group Axel Johnson International. In total, the wholly and partially owned companies in the group have a turnover of around €13.8 billion and have approximately 27,000 employees.

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https://nordictimes.com/economy/china-pauses-export-ban-on-critical-raw-materials-after-summit-meeting/

Economy

China pauses export ban on critical raw materials after summit meeting

Published yesterday 5:21 pm – By Editorial staff
The meeting in Busan, South Korea, was the first between the presidents since 2019.
2 minute read
Editorial staff
editorial@nordictimes.com

US President Donald Trump and Chinese President Xi Jinping met on Thursday in Busan, South Korea, and agreed to lower tariffs on Chinese goods in exchange for measures against fentanyl trafficking and resumed American soybean purchases. It was the first meeting between the leaders since 2019.

Trump announced that tariffs on Chinese imports will decrease from 57 percent to 47 percent by halving the fentanyl-related tariff rates to 10 percent. According to the president, Xi will work "very hard to stop the flow" of the synthetic opioid that is the leading cause of American overdoses.

China also agreed to pause the export controls on rare earth metals that were imposed earlier in the month. These elements are critical for the production of cars, aircraft, and weapons and have become Beijing's strongest leverage in the trade war with the US. The pause will last for one year, according to China's Ministry of Commerce.

Cautious market reaction

The meeting at the air base outside Busan, which took place in connection with the APEC summit, lasted over an hour and a half. Trump described the talks as "fantastic" and gave them a rating of "12 out of 10".

However, the reaction on international stock markets was muted. The Shanghai stock exchange fell from its highest level in ten years, while American soybean futures declined.

— The response from markets has been cautious in contrast to Trump's enthusiastic characterisation of the meeting, noted Besa Deda, chief economist at the analysis firm William Buck in Sydney, Australia.

Senate Democratic leader Chuck Schumer was critical and wrote on X that "Trump folded on China".

More agreements in the pipeline

The parties also agreed to pause mutual port fees on shipping and that China will resume purchases of American energy. Trump said he plans to visit China in April before Xi receives him in the US.

Sensitive issues such as Taiwan and Nvidia's advanced AI chips were not discussed, according to Trump.

Editorial staff
editorial@nordictimes.com

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

Economy

German companies pressured by Chinese demands for trade secrets

Published October 27, 2025 – 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/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.

https://nordictimes.com/economy/china-surpasses-us-as-germanys-largest-trading-partner/

Economy

China surpasses US as Germany’s largest trading partner

The new multipolar world order

Published October 23, 2025 – By Editorial staff
Terminal Wharf in Bremerhaven, Germany, is one of Europe's largest and most significant ports.
2 minute read
Editorial staff
editorial@nordictimes.com

Trump's tariffs have reversed trade patterns. China has now overtaken the US as Germany's most important trading partner – just one year after losing the top position.

China has reclaimed first place as Germany's largest trading partner. During the first eight months of the year, trade with China reached €163.4 billion, compared to €162.8 billion for the US, according to preliminary figures from the German statistical office, reports Reuters.

It's a rapid reversal. The US was Germany's largest trading partner in 2024, breaking an eight-year period of Chinese dominance. The shift came as Germany actively tried to reduce its dependence on China, citing political differences and unfair trade practices.

But Donald Trump's return to the White House and renewed tariffs have changed the dynamics.

Tariffs hit hard

German exports to the US fell by 7.4 percent during the first eight months of the year to €99.6 billion. In August, exports dropped by as much as 23.5 percent compared to the previous year.

— There is no question that US tariff and trade policy is an important reason for the decline in sales, says Dirk Jandura, chairman of the German Association for Foreign Trade (BGA).

He notes that American demand for classic German export goods such as cars, machinery and chemicals has decreased.

Chinese imports increase

While exports to China fell by 13.5 percent, imports from China increased by 8.3 percent to €108.8 billion.

— The renewed import boom from China is worrying, says Carsten Brzeski, global head of macroeconomics at ING. Particularly as data shows that these imports come at dumping prices.

He warns that this increases Germany's dependence on China and could put additional pressure on key industries where China has become a major competitor.

Editorial staff
editorial@nordictimes.com

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