Denmark

Vestas of Denmark, the largest wind turbine manufacturer in the world, announced on Wednesday that its adjusted operating profit was higher than expected for the fourth-quarter, but warned about the uncertainty to come for 2025. The company stated that despite the ongoing geopolitical uncertainty and the trade war, it expects to see increased revenue by 2025 as a result of the completion of its record-high backlog. Vestas' analyst poll revealed that the average forecast was 672 million. The operating profit before special items increased to 759 millions euros from 191 million dollars a year earlier. The company forecasted a 2025...

European shares ended lower on Wednesday, following a broad rally earlier in the session, hurt by a drop in energies shares on fears that U.S. Presidentelect Donald Trump could halt fresh approvals for overseas wind jobs. Trump, who regained the White Home by protecting more than the 270 Electoral College votes required to win the presidency, had actually promised throughout his election project to scrap overseas wind projects by executive order on his first day in office. Shares of Oersted and Vestas fell 12.8%. each, while the wider energies sector was down 2.6%. The pan-European STOXX 600 was down 0.5%,...

Finnish utility Fortum reported on Tuesday a biggerthanexpected drop in JulySeptember operating revenue and stated it would invest 100 million euros in the decarbonisation of its Czestochowa heat and power plant in Poland. Operating revenue fell to 123 million euros ($ 133 million). in the fiscal 3rd quarter from 251 million a year previously on. lower spot prices, against a typical projection of 157 million. euros in a company-provided survey. In July and August, Nordic area prices were pressured by. high precipitation, good nuclear accessibility and increasing. wind and solar output, Fortum CEO Markus Rauramo said in a. statement. Fortum...

European political leaders and diplomats held talks with officials and employees' unions in South Africa's coal belt on Wednesday to attempt to encourage them that switching to renewable energy from fossil fuels require not leave them destitute. The discussions in Mpumalanga province involving abundant countries moneying the energy transition aim to conquer resistance from communities fearing economic disaster. At Emalahleni, the location of coal in Zulu, union leaders were honestly sceptical at speeches recommending task losses could be balanced out by a boom in climate-friendly energy. I don't believe one conference will persuade them, Elsebeth Krone, the ambassador of Denmark,...

Norway's Equinor stated on Monday it has actually bought a 9.8% stake in Danish renewable energy group Orsted valued at around $2.5 billion, making it the 2nd largest shareholder after the federal government of Denmark. Orsted's share cost increased on the news, trading 2.8% greater at 1028 GMT, while Equinor's shares fell by 2.3%. Orsted did not right away react to an ask for remark. Equinor said it had a long-lasting viewpoint on the investment but did not strategy to raise its stake beyond 10%. This is a counter-cyclical financial investment in a leading designer, and a premium portfolio of...

The Kremlin said on Monday that German Chancellor Olaf Scholz was best to want a comprehensive examination into a 2022 attack on the Nord Stream gas pipelines in spite of what it stated were attempts by some Western powers to hush up what actually took place. Scholz stated in an interview with German television over the weekend that Berlin's investigation would ensure that nothing was hidden and do its best to make sure that those responsible for the blasts were penalized. Moscow has consistently grumbled that Germany has actually not been doing enough to examine the surges, which in September...

Norway's sovereign wealth fund stated on Monday it will dedicate 900 million euros ($ 1.01. billion) to the latest renewable energy fund of investment company. Copenhagen Infrastructure Partners (CIP). Norges Bank Financial Investment Management (NBIM) committed the amount. to CIP's 5th flagship fund CI V, which buys overseas and. onshore wind, solar farms, grid and circulation, in addition to. storage, the world's biggest sovereign wealth fund said in a. declaration. NBIM, which has properties of $1.7 trillion, invests income. from Norway's oil and gas market in international stocks, fixed. earnings, realty and renewable energy assets. ( This offer) will provide...

Russia has actually grumbled to Germany over its investigation into the 2022 surges of the Nord Stream pipelines, RIA news agency reported on Monday, after a secret suspect left arrest in Poland. German media reported recently that German district attorneys had identified a Ukrainian diving trainer as an essential suspect in the Nord Stream sabotage attack and provided a warrant to jail him in Poland. Poland got the German warrant however the suspect has left the nation as Germany stopped working to include his name in a database of wanted persons, Polish district attorneys told Reuters. Moscow thinks the German...

India will make an application for licences to explore for deepsea minerals in the Pacific Ocean as it contends to protect products of minerals vital for energy shift technologies, a leading federal government researcher told . The UN-backed International Seabed Authority (ISA) has provided 31 deep-sea exploration licences, consisting of 2 for India in the Indian Ocean, but is yet to enable mining since the 36-member body is still working on regulations. The 36-member ISA council is meeting in Jamaica this month to work out the most recent draft of a mining code. M. Ravichandran, the leading researcher at India's...

India will obtain licences to explore for deepsea minerals in the Pacific Ocean as it completes to protect products of minerals critical for energy shift innovations, a top federal government scientist told . The UN-backed International Seabed Authority (ISA) has issued 31 deep-sea exploration licences, consisting of 2 for India in the Indian Ocean, however is yet to allow mining due to the fact that the 36-member body is still dealing with regulations. The 36-member ISA council is fulfilling in Jamaica this month to work out the latest draft of a mining code. M. Ravichandran, the leading researcher at India's...

Exchanges Nasdaq and the European Energy Exchange (EEX), Europe's greatest power bourse, stated on Wednesday they have actually cancelled strategies under which the EEX would have bought Nasdaq's Nordic power trading and clearing company. The deal would have increased EEX's dominance in the European power trading sector even further. Although the offer, which was announced last year, did not fulfill the basic limit requirements for an EU anti-trust examination, some authorities in Nordic member states requested that the EU Commission take a closer take a look at the case on issues it could hamper market competitors. A preliminary evaluation of...

Danish energy trader InCommodities, backed by Goldman Sachs, on Tuesday reported a. plunge in its pretax revenue for 2023 to 136 million euros, just. 10% of its record earnings seen a year earlier, as energy markets. returned to calmer waters. In 2022, the Aarhus-based business, which trades power and. gas in Europe, the United States and Asia, had tape-recorded a profit. before tax of 1.4 billion euros ($ 1.52 billion). Goldman Sachs and chosen financiers own a 15% stake in the. company while its four creators and employees own the rest,. according to its annual report. There's no doubt that...

After the election next month, the mining company who owns the license to Greenland’s Kvanefjeld Deposit is hopeful that the new government will lift the ban on uranium mines. This could lead to the revival of one of the largest rare earth projects in the world. Last month, U.S. President Donald Trump expressed renewed interest in the acquisition of this strategically important Arctic Island. Daniel Mamadou, CEO of Energy Transition Minerals (the Kvanefjeld license holder), said in response to Trump's remarks: "I believe it puts everything related minerals back on track." According to Mamadou, Kvanefjeld ranks among the top three...

Danish jewellery company Pandora announced on Wednesday that it expected sluggish growth in Europe, and a slowdown in Germany following a period of strong growth. Pandora, a company known for its charms bracelets, has reported an operating profit that was in line with expectations. However, Black Friday sales accounted for a larger share of the total, which impacted profitability slightly. The largest jewellery company in the world by volume expects organic growth of 7-8% by 2025. The company had a better organic growth rate of 13% in 2024 than its guidance of 11-12%. Pandora's fourth quarter comparable sales in the...

Novo Nordisk's Wegovy and Eli Lilly's Zepbound are up until now the leaders in the weightloss drug market, which is estimated to be worth about $ 150 billion by the early 2030s. There are also a number of other drug developers intending to join the bandwagon. The following is a list of publicly noted business targeting the next huge blockbuster chance: NOVO NORDISK Novo's closely-watched weight problems drug candidate CagriSema assisted overweight patients cut their weight by 22.7% in a. late-stage trial, but that was below its own expectations of up. to 25% reduction. The data compares to weight-loss of...

The outgoing administration of U.S. President Joe Biden is making a lastditch push for mining business and others to buy Greenland, a relocation focused on sealing its vital minerals diplomacy and enhancing Western supply of materials for the energy transition. Before President-elect Donald Trump takes workplace in January, Biden and his staff have been taking multiple steps to fortify their legacy, including increasing help to Ukraine and hurrying to approve U.S. mine permitting and financial rewards. Jose Fernandez, the State Department's under secretary for economic development, energy and the environment, spent four days in Nuuk last week to meet with...

France's electricity transmission system operator RTE on Tuesday announced a billion euro ($ 1.09. billion) agreement with European suppliers, consisting of fibreoptic. cables maker Nexans, to support its projects through. 2028. RTE also announced the signature of supply contracts with. Greece's Hellenic Cables, Italy's Prysmian. in addition to Copenhagen-listed NKT. WHY IT IS IMPORTANT RTE preserves and develops the high and extra-high voltage. network in France, consisting of 7,000 km of underground lines. The. French grid, which is the most extensive in Europe, features 37. affiliations with its neighbouring nations. KEY QUOTE These contracts highlight how the investments made by...

Zinc prices dropped on Friday, pulling away from the previous session's 20month high, as stock inflows soothed worries about potential scarcities. The majority of other commercial metals on the London Metal Exchange were also at a loss, weighed down by the lack of robust stimulus procedures in leading metals customer China and care ahead of the U.S. governmental election. Three-month LME zinc slid 3.6% to $3,059 a metric ton by 1000 GMT after touching its highest considering that early February 2023 on Thursday. There have actually been a great deal of shenanigans in the zinc market today and some of...

Eli Lilly on Thursday raised its annual earnings forecast and sales of its popular weightloss drug Zepbound crossed $1 billion for the first time in a. quarter. The drugmaker now anticipates adjusted earnings of $16.10 to. $ 16.60 per share for 2024, compared to its previous forecast of. $ 13.50 to $14. Lilly and Danish competing Novo Nordisk are racing to. increase production capability to satisfy unprecedented need for. their popular weight-loss drugs that have actually been shown to assist. clients lose as much as 20% of their weight typically. Experts have said the companies will likely divide the U.S....

IrnBru maker A.G. Barr forecast on Tuesday its halfyear revenue to be higher than prioryear levels, supported by strong demand for its mixed drink mixes and sodas. WHY IT is essential In the past year to present, the company has downsized and obtained businesses to broaden its soft drinks portfolio to keep up with growing demand and competition. CONTEXT The recently agreed 3.3-billion-pound ($ 4.24 billion) merger between Danish maker Carlsberg and British soft drinks maker Britvic had caused shares of peers A.G. Barr and Fevertree to rally. The merger was a relocation that could create a UK beverage powerhouse,...

By Tuesday, 2000 GMT, the following mergers, acquisitions, and dispositions had been reported: * MP Materials announced that Australian billionaire Gina Rinehart’s mining company has acquired a 5,3% stake in its company, adding to the rare earth investments she already holds. People with direct knowledge said that British Airways' owner IAG will receive an EU antitrust alert about its bid to take full control of Air Europa, after the remedies it has taken failed to satisfy EU antitrust concerns. The two companies have announced that the promoters of IndusInd Bank, a private lender, will purchase a 60% stake of the...