Weekly economics overview
The fight between the Consumer Ombudsman and the energy companies continues. This time, the focus is on Andel Energi. They forgot to inform customers about changes to the electricity contracts. This means customers are not bound by the changes and can claim a refund. For example, customers with BasisEl that have been transitioned to TimeEnergi. Also those with Fast Energi Solar & Wind to TimeEnergi. You can appeal for a refund here.
Finans Danmark Fraud Task Force presented 18 recommendations against online fraud. In 2023, 190,000 people in Denmark were exposed to digital fraud. Among the proposals, you can find a spam filter for SMS messages, a two-factor authentication requirement for social media, and more power to banks to enforce control checks.
In three years, the chocolate factory Toms will be moving its production from Denmark to Poland. The brand Toms is iconic for Denmark and has a century-old history. They will continue to produce candy in Denmark at Hvidovre, but the chocolate production will be moved to Nowa Sol (West Poland). Around 170 people will need to find another job.
35 fatal accidents in a year in Denmark. Almost every ten days, a worker loses their life. Most prone workplace to accidents? Construction sites. The large majority of the fatal accidents involve international workers. At the last accident on the construction site of the Flemløse Biogas plant, two young Romanians lost their lives. They are still searching for the third, while six others of different nationalities were injured.
- The minister of employment announced a package of initiatives to strengthen the powers of the Danish Working Environment Authority.
Focus
2,100 billion DKK from rich countries to poor ones as compensation for climate change consequences. COP29, the yearly meeting on climate between all countries, has ended with a financial climate agreement: from 2035, rich countries need to triple their support for poor countries to 2,100 billion DKK. While considered a success, the leaders of the 77 developing countries say the amount is far from what is needed to deal with climate change effects. They need four times the amount proposed.
Danish companies want to invest in rebuilding Ukraine. The minister of business, together with 22 companies, has been on a secret trip to Ukraine to better understand the opportunities offered for the companies in Denmark. There are already around 200 Danish companies in Ukraine.
- There is 5.6 billion DKK in government export support for companies that want to enter the Ukrainian market.
- Just like Germany was rebuilt after the war with international support, which turned into an economic miracle, there is the same hope for Ukraine. The World Bank expects an amount of 3,400 billion DKK (three times the post-WW2 Marshall Plan) to be invested in Ukraine.
