Weekly economics overview
The Nobel Prize winner in Economics, Simon Johnson, sent a message for Denmark. “Be careful that Novo Nordisk doesn’t get too big. When companies become so large that they can move markets and the political agenda, no one can resist abusing political power.”
Nykredit Bank wants to buy Spar Nord. If the acquisition goes through, Nykredit will become the third largest bank in Denmark.
- Spar Nord started as Aalborg Bye og Omegns Sparekasse in 1824. It is uncertain which of the 1,700 employees from Spar Nord will remain employed after the merger.
The aid system for storm surge victims will be improved. The government, together with the association of insurance and pension companies, has announced six measures to improve support for storm surge victims.
- After notification of storm surge damages, insurance companies need to react in a maximum of 24 hours and process cases in less than four months.
- A new IT system for case processing will be launched late this year. There will be a focus on the case handlers’ education regarding storm surge situations.
Focus
IKEA vs. Romanian forests. Large areas of IKEA-owned forests in Romania have been cleared of trees to a level that now they look like “lunar landscapes.” You can watch the DR documentary “IKEA loves wood” to understand the level of damage they have caused to nature in Romania.
- IKEA is the largest private forest owner in Romania. In fact, IKEA is one of the world’s largest consumers of wood, at one tree per second.
