The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
Tolerate, definition. Accept or endure. The latter seems more appropriate.
Anyone who has bought in the last 3 month will be in profit so maybe they are banking that rather than risking all on the results.
Sweden's parliament on Wednesday voted to reinstate Social Democrat party leader Stefan Lofven as prime minister, only weeks after he was ousted in a historic vote of no confidence.
Lofven's nomination was passed with a vote of 116 for, 173 against and 60 abstaining. Under the Swedish system a prime minister only needs to be tolerated by parliament -- meaning they can be confirmed as long as a majority doesn't vote against them.
"Since less than half of the members of parliament have voted no, the chamber has approved the motion to appoint Stefan Lofven as prime minister," speaker Andreas Norlen told parliament after the vote was concluded.
Thanks Suzy. So we have a non-nomadic Swedish Sami population totaling about 20,00o, of which 10% are engaged in reindeer herding, with a devolved parliament and a large chunk of the country protected ostensibly for their use. One wonders if they are punching a little above their weight and how they justify the thousands of companies Zeno referenced? Clearly they have a powerful lobbying influence. Will be interesting to see how things develop in Sweden.
I gather that only about 10% of the Sami population are actively involved in reindeer herding, some 3,000 or less. I assume these are the 'nomadic' Sami, with the majority in fixed locations. Question for Xeno, our resident Swedish expert, are the nomadic Sami nomadic across the 4 northern regions, (Sweden, Finland, Norway and Russia) or do they tend to have a geographical limitation. I wonder if the other Sami countries are as generous with grants etc. It would seem surprising if Russia was. If they are genuinely nomadic how does the state collect taxes as they appear to have no specific country of residence.
rhump3. Yes I did read about that situation in Berlin. In principle, the idea of rents controls for those in need is a worthy one but in practice it cannot be loaded onto the private sector. If the state wishes to control rent levels then it must arrange the supply of suitable stock. It is , I accept, a massively complex area, with no easy answer but one thing I can say with certainty is that if we see a reversal of house prices, as some call for, it will only further constrain the supply side. I wrote a paper on this subject when the sector was hit by the 2000 banking crisis. Many pundits predicted then a permanent collapse of housing costs and look where we are today. Interestingly Sweden was often cited as a model of good rent control, maybe less so now.
Suzy. Yes I was being somewhat glib. Fair rents (and other tenancy controls) is a subject I could debate at length. I fully support the setting of a fair rent for those in housing need but without sufficient income to pay a market rent. However a blanket rent cap, often augmented by other controls, will damage the housing supply in the medium/long term, unless the state steps in big time. We have tried it in this country without success. Not all private landlords are bad and not all social landlords are good, the same applies to tenants. We need to be wary of the four legs good, two legs bad syndrome. For all his faults Lofven could hardly be considered a free marketeer so he must have seen a good need to loosen the rents controls. People seem to like market forces when they are driving prices down but not the reverse. ATB
Thanks Xeno. It would be truly bizarre if Sweden was to democratically vote to become a communist state!. Last one to leave please turn the lights out. I understand your frustration having been a shareholder for a year but bear a thought for those of us who have been with the company for up to ten years. It sounds like Swedish criminals get shorter sentences than we have been subject to. Perhaps its the Chinese influence in Volvo that's encouraging the communists?
Doesn't say what they will be worth, unless I have missed something.
Lucky. An interesting combo. Not sure oil and water will mix!
Suzy. In politics the notions of right and left are all subjective depending on where the middle is set. In America Democrats are regarded as raving lefties but here we would see them as centre or even centre right. Sweden's centre looks left of centre to us. Some of the right/left brain theories are now being questioned or debunked. The pendulum of politics will always swing, its a question of how much and the timetable. Boris and his crew will not past forever, and that comes from someone whose politics are regarded as right of centre, but the UK centre not America's. I'm always told I should not discuss politics or religion. How dull.
Without knowing how much oil and cost of extraction, so difficult to guess at. 10x current mcap seems over optimistic, I'd be very happy with a 10p sp.
itye1970. As Tamir Koch and David Lazarus own the best part of half the company would they have an interest in seeing it prosper?
Andy's correct. Ulf K recognised he wouldn't get enough votes to secure the premiership. Despite being called the Moderate Party, it is regarded as far right wing in Sweden and struggles to get support from other parties. PR politics isn't all its cracked up to be.
Swedish constitution requires the speaker to give him an chance to form a government. His chances are slim as relying on all his coalition MPs only gives him a 1 vote margin. I suspect there will be some coalition MPs that wont want him back. If Lofven fails then other parties can try and form a government and failing that a snap election. So weak and fragmented is Swedish political unity at the present, total inertia until Sept 22 is on the cards. None of it looks great for our decision.
Debt fee co., perfect for selling.
Operative word was 'substantive', not repeats about zero carbon targets by 2050 and directorate changes and dealings.
For a major company there is surprisingly little news flow-nothing of any substance since May. They must be doing something? Where are we with Bergen?
Another case of Lofven not having the moral rectitude to face a difficult decision. It is the rent caps that are forcing the supply crisis and as a consequence the rapidly rising rents. Too many parties fighting for position now, looks like he might have to go.
After losing the vote of no confidence Lofven has 1 week to whether to call a snap election or resign. As politicians seem to do anything to hold onto power for as long as possible he may well call for an election. At least he has achieve one thing-the first Swedish PM to lo lose a no confidence vote. I have been in property all my working life and the inevitable consequence of politicians trying to control the demand side (or overtaxing the supply side) is a halt on the supply side. It then becomes impossible to control the demand pressures. Maybe everyone can be encouraged to move from Stockholm to Jokkmokk!!