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Good morning and welcome to this week’s first Business Overview.
We need to hear about a Danish supermarket chain that wants to introduce coronapas, about conflicts in connection with corporate transactions and SAS employees who are looking for their own jobs. But first to a story about Hummel owner Christian Stadil.
Stadil opens for inheritance process
Christian Stadil now opens the inheritance process in the billionaire conglomerate Thornico, which he owns breastfeeding with his father. Among other things, he wants to ensure that his children, all under the age of ten, do not become unfriends, and avoid that Skat takes more than is absolutely necessary,
“The most important thing in this process for both my wife and me is that we should never leave anything that can result in our children becoming unfriends,” says Christian Stadil.
The nearly 50-year-old businessman has four children, the oldest of whom is eight years old. And Christian Stadil expects that Thornico, which among other things owns Hummel, will grow rapidly in the coming years, both in terms of revenue and earnings. This means that the value of the group will probably increase and make it even more expensive in the future to pass on Thornico to the children.
A fierce market for transactions provides a wave of fights
The many acquisitions after the closure give rise to conflicts between the trading companies. The reason is, among other things, that trades are becoming more and more expensive and more complex. It writes Finans.
“The fact that we are seeing more disputes is due to the fact that more transactions are being carried out, on which there can be disagreement. There is a tendency to try to hang the counterparty to a greater extent on the guarantees given. In addition, the Danish M&A market (market for corporate trades, ed.) Has become more international, «says Erik Bertelsen, partner in Kromann Reumert.
In the first three quarters of 2021, there were 415 corporate transactions in Denmark, and thus the number before the last quarter of the year is significantly above the record year, 2018, when 382 corporate transactions were completed.
Rema 1000 introduces corona passes for more than 1000 employees
If you are going to work in the discount chain’s central warehouse in Horsens, you must be able to present a valid corona passport. It writes Ritzau.
This happens after the infection rises at Rema 1000’s central warehouse in Horsens, where ten people this week have been confirmed to have corona infection. According to Jonas Schrøder, head of communications at the discount chain Rema 1000, the initiative has been well received.
“We believe that it is best for us all to take care of each other, that we take this initiative so that we ensure that the infection does not spread further. We have only experienced support for it, he says.
He says that for some days they have been considering whether the requirement should be introduced in the company.
Hundreds fired SAS pilots among applicants
SAS has received well over 1,000 applications for the vacant pilot positions in the production company SAS Connect,
However, it will take some time before you can hire the main company SAS Scandinavia.
When SAS in June 2020 carried out a major firing round to mitigate the effects of the corona pandemic, the company had to say goodbye to a total of 562 pilots, of which about 130 from SAS in Denmark. Now SAS is in the process of hiring again.
Simon Madsen does not receive a penny in compensation despite years of sales to the mink industry: “This is complete nonsense”
The fight for the mink industry’s right to compensation is underway. But “square rules” exclude Simon Madsen from compensation, even though he has developed and sold products to the mink industry for years, Berlingske writes.
Last year, he took over full ownership of the company his father started in 1995. For 25 years, they have specialized in developing, producing and selling products to Danish mink breeders. They have distinguished themselves in everything from feed silos to special wagons to mink farms.
Nevertheless, Simon Madsen does not stand to receive a single penny in compensation, which the follow-up industries to the mink industry are otherwise facing as a result of the total closure of the profession.
The explanation is a series of “legal coincidences”, as Simon Madsen himself puts it. In order to be entitled to compensation, a company like his must have had at least half of its turnover directed at mink farms for a certain number of years, and he does not live up to that.
“I have a hard time expressing it properly,” says Simon Madsen and takes a short break.
“Somewhere, I think you lose something for democracy. Basically, I never expected us to end up in such a situation here. All the hours and all the development we have put into the company. It is gone.”
Three factors that investors need to keep an eye on
Andreas Østerheden, Chief Strategist at Nordea, will keep an eye on these three points this Monday:
- Last week offered solid stock returns despite both talk of higher inflation, lower growth and a pandemic that continues to create late effects on the global economy. With increases in global equities measured in Danish kroner of 25.6% this year, it has certainly been a year in which you as an equity investor have generally been paid for the risks you have taken. The better-than-expected U.S. labor market report on Friday sent interest rates lower and equities higher, and the report makes it no less interesting to follow the speeches of the US Federal Reserve during the day. After a busy week last week with both central bank meetings and key figures, this week will be a bit quieter on paper. However, investors will start the morning off by examining the Chinese trade figures from yesterday.
- There will be many speakers from the central banks during the day, including US Federal Reserve Chairman Jerome Powell and Deputy Governor Clarida, Bowman, Evans and European Central Bank Governor’s Lane. In general, there is a picture that some central banks are starting to look in the direction of tighter monetary policy, while others (for example the ECB) have clearly stated that they do not see, for example, interest rate increases in 2022. This points in the direction of a stronger US dollars.
- Many Danish accounts have gradually also been sprinkled in, but we will have to wait until tomorrow before the large companies resume the financial statements. If, on the other hand, you look at the USA, the payment giant PayPal will present accounts. Overall, it has been a really strong accounting season, and it should be seen as one of the primary drivers behind the recent stock price increases.
It happens in the markets
Equities – index and development in percent
USA – closing prices Friday:
Dow Jones: 0,56 procent
S&P 500: 0,37 procent
Nasdaq: 0,20 procent
Asia – index Monday at. 06.40:
Japan Nikkei: -0.21 percent
Hong Kong Hang Seng: -0.48 percent
China CSI: 0.16 percent
Source: www.berlingske.dk by www.berlingske.dk.
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