Latest news with #Persson
Local Sweden
07-07-2025
- Business
- Local Sweden
Economists 'concerned' about higher than expected Swedish inflation
Swedish inflation figures saw an unexpected rise last month, which has concerned economists and lowered the chances of the central bank cutting the interest rate at its next meeting in August. Advertisement "There probably won't be a cut to the interest rate until we see confirmation that this was an exception rather than a trend," Alexandra Stråberg, head economist at Länsförsäkringar, told the TT newswire. CPIF Inflation in June rose to 2.9 percent. Not only was that higher than the 2.3 percent the country saw in May, but it was also higher than expected ‒ economists had predicted a figure of 2.5 percent. CPIF inflation is the figure used by the Riksbank central bank. It has a target of 2 percent, much lower than the inflation figures reported in June. "We knew inflation was going to rise but it's a bit surprising that the result was so much higher than expected," Swedbank chief economist Mattias Persson said. "It's gone the wrong way and that's a bit concerning." These figures are Statistics Sweden's preliminary figures, with more in-depth statistics provided next week. Persson believed that the increase could be due to so-called base effects, which change when Statistics Sweden make yearly alterations to its measurements. Stråberg agreed, while adding that the figures were still quite high. "It's a bit high for that," she said, adding that the figures could make it difficult for the Riksbank to decide how to proceed with its fiscal policy. Advertisement At the bank's last meeting in June, it lowered the key interest rate to 2 percent. The next announcement is scheduled for August 20th, but higher-than-expected inflation figures make the chance of another cut at that meeting less likely. Robert Boije, head economist at SBAB, believes that the inflation rate for June has all but wiped out any chance of a cut in August. At the same time, economic recovery is slow, which has lead Persson from Swedbank to predict a cut in September instead. "I still think we need another cut, and I wouldn't rule out the possibility of them moving that further into the future," he said. "We also need to remember that Trump is set to announce his tariffs this week." He added that the uncertainty surrounding tariff discussions between the EU, Sweden and the US are "concerning." He's also not convinced that US President Donald Trump will make a U-turn on tariff decisions at the last minute, a behaviour that has led to the coining of the term TACO, 'Trump Always Chickens Out'. "I think insecurity will rise this week," he said. "I think we've been living in some sort of TACO-coma and am worried that now Trump has passed his budget he believes he can do whatever he wants politically."
Local Sweden
07-07-2025
- Politics
- Local Sweden
What do we know so far about Sweden's plans to survey immigrants' values?
Simona Mohamsson, Sweden's education and integration minister, said in July that the government is moving forward with its plans to survey immigrants' values. What do we know about the proposal so far? Advertisement When was the survey first proposed? Sweden's then-employment and integration minister, Mats Persson, announced plans to investigate immigrants' values back in October 2024 in an interview with tabloid Aftonbladet. He said at the time that the goal of the survey was to find out to what extent immigrants' values match or deviate from what he called 'liberal democratic values'. In July 2025, Mohamsson, Sweden's new education and integration minister, confirmed to Swedish broadsheet Dagens Nyheter (DN) that the government will be moving forward with those plans, which were in 2024 expected to cost around two million kronor. What is the aim of the survey? Both Mohamsson and Persson have said that the survey will be used to guide integration efforts going forward, although it's not entirely clear what they mean by that. Mohamsson told DN that she 'is not ruling anything out'. 'It could be changes in schools, social orientation courses [for newly-arrived refugees], SFI classes,' she said. She added that the point of the survey is 'not to change people's opinions.' 'It's about upholding the values we have in Sweden. It would be strange if we said certain people didn't need to have these values.' When will it take place and how will it work? According to Mohamsson, the survey will take place in the autumn of 2025. The World Values Survey research group will be responsible for carrying out the survey at a cost of five million kronor. It will interview around 3,000 people, half of whom have a Swedish background and the other half of whom have a 'non-Western' background. The World Values Survey has carried out similar surveys in Sweden before which showed that a lot of so-called nyanlända, a term usually used to refer to newly-arrived refugees, have differing views on topics like divorce, premarital sex, abortion and homosexuality than people born in Sweden. However, after ten years in the country, their views were much closer to those of the Swedes. 'Ten years is too long,' Mohamsson said. 'That's a whole generation of girls who can't choose who they want to love or boys who can't come out of the closet.' Persson said back in 2024 that the survey will be anonymised, so it will not be possible to trace answers back to specific people, and that it will ideally take place every year. Advertisement What do immigrants think about the survey? When the government first announced plans to survey immigrants about their values, we asked The Local's readers for their opinions. Almost half (48 percent) of the 75 people who answered our non-scientific survey thought that the government's plans to survey foreigners' values was a 'good idea', with 29.3 percent stating they thought it was a 'bad idea'. The other respondents, 22.7 percent, answered 'both good and bad / don't know'. You can read the full article presenting the results of our survey here.
Canada News.Net
03-07-2025
- Business
- Canada News.Net
H&M founding family boosts stake, buyout speculation intensifies
LONDON/STOCKHOLM: The Persson family is ramping up its investment in the H&M fashion empire, fueling renewed speculation about a potential move to take the company private. Regulatory filings released this week show that Ramsbury Invest, the family's leading holding company, purchased 42.75 million shares in the first half of this year. Ramsbury is primarily owned by Stefan Persson, Sweden's wealthiest individual and the son of H&M founder Erling Persson. This marks a quicker pace than previous years. In 2024, Ramsbury acquired 56.85 million shares over the entire year, and in 2023, the family bought 55.65 million shares. "As the family owns more shares, they have a higher dividend to reinvest, which would support increased share purchases," said Deutsche Bank analyst Adam Cochrane, who believes the family will eventually take H&M private, possibly by 2030. According to H&M's website, the Persson family and its related entities held more than 64 percent of the company's shares as of the end of May. H&M redirected Reuters' inquiries to a spokesperson for Ramsbury Invest, who declined to comment on the ongoing stake-building or the possibility of a future buyout. "I think they will, in due time, take it private — the question is, is it now, or in ten or 20 years?" said Peter Magnusson, a portfolio manager at Cicero Fonder in Stockholm. He added that such a move would likely require outside financing or partners. H&M, which was founded in 1947 by Erling Persson, is currently valued at around 187 billion Swedish crowns (US$19.7 billion). The business was led for nearly three decades by Stefan Persson, who handed the reins to his son Karl-Johan Persson in 2009. In 2020, H&M appointed its first chief executive from outside the family, while Karl-Johan became chair. H&M shares have fallen nine percent since the start of the year. Some investment bankers expect more publicly listed retail companies to go private, especially amid ongoing market turbulence tied to U.S. President Donald Trump's tariff policies.
Fashion United
03-07-2025
- Business
- Fashion United
H&M accelerates share buy-back sparking privatisation rumours
Swedish retail giant H&M Group is amping up its share buy-back programme as the billionaire Persson family strengthens its control over the company. The move has sparked speculation over potential plans to take the retailer private. According to a regulatory filing with the Swedish Financial Supervisory Authority, Persson-owned Ramsbury Invest snapped up a total of 42.75 million shares in H&M in the first half of 2025. As of the end of May, the Persson family, alongside its associated companies, held over 64 percent of H&M's shares. The most recent transaction was made on June 30. 'As the family owns more shares, they have a higher dividend to reinvest, which would support increased share purchases,' analyst at Deutsche Bank, Adam Cochrane, told Reuters. Cochrane anticipates that the family will take H&M private by 2030. A spokesperson for Ramsbury Invest declined to comment on the buy-back programme or the possibility of H&M being taken private, Reuters said. Speculation over a privatisation deal and what is needed to purchase the remaining 36 percent of the shares has already been mounting in Sweden. Analysts suggest that the Persson family may have to seek external financing to fund the transaction. Founded by Erling Persson in 1947, H&M's current market value sits at around 187 billion Swedish crowns (19.7 billion dollars), Reuters reported.
Fashion Network
01-07-2025
- Business
- Fashion Network
Billionaire H&M founding family speeds up share purchases
The billionaire Persson family is stepping up its stake in the H&M fashion group it founded. Recent regulatory filings point to an acceleration in share purchases, which could intensify speculation over a future take-private bid. According to the Swedish financial regulator, the family's Ramsbury Invest holding company, primarily owned by Sweden's richest man, Stefan Persson, bought 42.75 million H&M shares in the first half of this year, with the most recent transaction on Monday. That represents a faster pace than in 2024, when Ramsbury Invest purchased 56.85 million shares across the year. In 2023, the family had bought 55.65 million shares. "As the family owns more shares, they have a higher dividend to reinvest, which would support increased share purchases," said Deutsche Bank analyst Adam Cochrane, who expects the family to take H&M private by 2030. According to the company's website, the Persson family and its related companies owned more than 64% of H&M's shares at the end of May. H&M referred Reuters' questions about the share purchases to a spokesperson for Ramsbury Invest, who declined to comment on the stake-building or on the possibility of the company being taken private. "I think they will, in due time, take it private — the question is, is it now, or in ten or 20 years?" said Peter Magnusson, portfolio manager at Cicero Fonder in Stockholm. Magnusson added that the family would likely need to find external financing or partners to buy the whole company. H&M's market value is around 187 billion Swedish crowns ($19.7 billion). Investment bankers expect more publicly listed retailers to go private due to tariff impacts and market volatility under U.S. President Donald Trump. H&M's share price has been down 9% since the start of this year. H&M was founded by Erling Persson in 1947. His son Stefan took over as CEO in 1982, staying in the role for 27 years before handing it over to Karl-Johan Persson in 2009. In 2020, H&M got its first chief executive from outside the family, with Karl-Johan becoming chair. ($1 = 9.4806 Swedish crowns)
