Puuilo is planning to be listed on the stock exchange
Department store chain Puuilo is planning a IPO and listing its shares on the main list of the Helsinki Stock Exchange. The IPO consists of a EUR 30 million share issue and a share sale.
According to the company, the aim of the IPO is to strengthen Puuilo’s growth and improve its financial flexibility and awareness.
Puuilo is a store chain founded in 1982 that focuses on do-it-yourself, household and pet products.
At the end of April, the company had 32 stores in Finland. The company’s operations also rely on growing e-commerce.
Amazon’s Jeff Bezos flies into space
Ecommerce giant Founder of Amazon Jeff Bezos will fly into space next month on its rocket company Blue Origin’s first manned spaceflight.
One of the richest billionaires in the world announced his upcoming space flight on Instagram.
According to Blue Origin, Bezos and his Markbrothers travel into space aboard the company’s New Shepard space capsule. The company is auctioning off a third passenger seat.
Terveystalo buying the Swedish Feelgood
Healthcare company Terveystalo is acquiring 72 percent of the Swedish shares in Feelgood and will make a tender offer for the remaining shares. The total value of the tender offer is approximately SEK 606 million, or approximately EUR 60.2 million.
Feelgood is a healthcare company that employs around 700 people in 120 locations across Sweden. The company is listed on the Stockholm Stock Exchange.
According to Terveystalo, the merger with Feelgood will open the door for the company to the growing Swedish healthcare market.
The EK survey predicts investments of almost 9 billion
To Finland an actual wave of investment is expected in the near future. According to the latest investment survey from the Confederation of Finnish Industries EK, growth in industrial investment is expected to be very strong this year.
In EK’s view, it is particularly positive that growth is forecast for both research and development investments and so-called fixed investments.
The value of the industry’s total investments this year would be about 8.6 billion euros. That would mean an increase of about 16 percent over last year.
Donald Trump considers bitcoin a scam
The United States former president Donald Trumpin according to the cryptocurrency Bitcoin “seems like a scam”. Trump believes bitcoin also threatens the U.S. dollar.
Trump said on Monday, according to Fox Business, there should be no “bitcoins in the world” in the world.
Trump has previously expressed doubts about cryptocurrencies. In July 2019, he tweeted that he is not a “fan of bitcoin and other cryptocurrencies” because they are very volatile.
The ECB will continue to buy at a rapid pace
European the central bank (ECB) decided on Thursday to keep its monetary policy unchanged. This means that the purchase of securities will continue significantly faster than in the first months of the year.
In March, the ECB decided to accelerate purchases to ensure that financial conditions are conducive to economic recovery and therefore do not slow down purchases.
Director general Christine Lagarde announced that the central bank’s forecast for economic recovery in the euro area has improved.
According to the new forecast, the economy will grow by 4.6 percent this year and 4.7 percent next year.
In March, the forecast for economic growth this year was 4.0 per cent and next year 4.1 per cent.
VW expects the chip shortage to ease in the fall
German carmaker Volkswagen (VW) expects the semiconductor shortage to ease in the third quarter. However, supply is still believed to have long-term bottlenecks.
Volkswagen Purchasing Manager Murat Aksel In an interview with Handelsblatt, the industry is now at the bottom of the wave and that the hardest six weeks are ahead.
Aksel says it expects a chip deficit of about 10 percent in the long run, as building production capacity can take up to two years.
For Volkswagen, the semiconductor shortage has meant a reduction in production volumes of 100,000 cars.
Inflation in the United States remained strong
Consumer prices the rise continued in the United States in May for the second month in a row. The rise in consumer prices accelerated further amid the economic recovery.
According to data released by the Ministry of Labor on Thursday, consumer prices rose 5.0 percent last month from the same period last year. This is the highest inflation rate since August 2008. In April, the pace was 4.2 percent.
Economists had suggested in the consensus forecast that prices would rise by 4.7 per cent year-on-year in May.
The price of Bitcoin could drop to $ 20,000
Bitcoin the continuation of the sales wave could push the price of virtual currency close to $ 20,000, strategists estimate news agency Bloomberg. The price of Bitcoin was hovering around $ 37,000 on Thursday night.
Currency broker Oanda estimates that concerns about increasing regulation of bitcoin have pushed the price of bitcoin “dangerously” close to the $ 30,000 level, and violating that level could lead to a huge amount of momentum sales. Momentum means that downturns tend to continue to decline.
Strategies from investment services firm Evercore and investment research firm Tallbacken estimate that $ 20,000 is a possible next level of support for bitcoin if the price of bitcoin falls significantly from current levels.