Scandinavia

European shares eased Tuesday, with energy stocks leading the losses due to the drop in oil. Investors also weighed the impact of a U.S. shutdown which could delay the release the closely watched monthly jobs data. By 0856 GMT the pan-European STOXX 600 had dropped 0.2%, to 554.5 points. However, it was still on track for its third consecutive monthly and quarterly gains. The stock is expected to rise by nearly 1% in September, compared with its 0.7% increase in August. Investors expect a rise in OPEC+ supplies later this week. TotalEnergies in France and BP in the UK both...

European shares fell on Tuesday, as energy and healthcare stocks slid. Investors also weighed the impact of the U.S. shutdown which could delay the release date of the closely watched monthly jobs data. The pan-European STOXX 600 fell 0.2% at 554.7 points as of 0709 GMT. However, it was still on track for a third consecutive monthly gain. It is also expected to have a gain of more than 2% for the entire quarter. The decline in oil prices impacted the heavyweight oil and gas companies, which saw a 0.8% drop. TotalEnergies in France and BP in the UK both...

TotalEnergies hoped to sell the oil assets onshore that were prone to spills last year The deal between Chappal Total and Chappal has not been closed despite multiple deadline extensions Total relied on the cash generated from sales to reduce debt Isaac Anyaogu & America Hernandez LAGOS/PARIS - TotalEnergies has failed to sell a minority stake to a Nigerian oil producer, Nigerian regulators announced on September 23. This is a blow to the French oil giant's strategy of selling mature, polluting oil assets to pay off debt. Total agreed to sell 10% of its Shell Petroleum Development Company of Nigeria...

NATO Secretary General Mark Rutte announced that NATO launched on Friday an operation called Eastern Sentry in response to Russian drones entering Polish airspace this week. Rutte said at a NATO press conference in Brussels that "we must make it clear to the world our determination and our capability to defend our territories." He said this while standing next to NATO's top commander U.S. Air Force general Alexus Grynkewich. Rutte stated that NATO was still assessing possible intentions behind the incursion. This led to Polish and NATO allies shooting down drones, the first such action NATO has taken since Russia's...

The Green Party of Norway played a key role in Monday's re-election. It secured 4.7% of votes and ensured that Labour and its allies had 87 seats in Parliament - two extra than required to have a majority. The Greens have a number of energy-related policy proposals. Here's a breakdown of their main ideas, the potential impact they could have, and whether or not it is likely that these will be implemented: What do they want to do? The Greens are calling for an immediate halt to new petroleum exploration and a phase-out of existing activities by 2040. They also...

The general elections in Norway on September 8 and 9 are expected to be close between the centre-left block led by the Labour Party and the centre-right group dominated by the Progress Party. Inequality and taxation are two of the key issues that will determine the outcome. The result could also have an impact on the energy and power supply to Europe, and the management and control of Norway's massive sovereign fund. What's at stake? Labour, led by Prime Minister Jonas Gahr Stoere, is seeking to extend its reign after returning to government in 2021. This follows eight years of...

The Economic Crime Authority reported that nine Swedish people were arrested on Tuesday, suspected of insider trading on the stock exchange in 2024 or 2025 before the publication of takeover bids for two companies listed at the Stockholm Stock Exchange. A spokesperson for the agency said that the suspected insider trading was made on shares of Tethys Oil which was acquired in September last year and Fortnox which was purchased after an offer was made in March of this year. According to the agency, several people with common connections traded large amounts in a coordinated way based on information that...

Shell, Equinor, and TotalEnergies announced on Monday that the first volumes of CO2 have been injected into and stored in Norway's Northern Lights Carbon Capture and Storage (CCS) Project, marking the beginning of operations. Companies said that the CO2 was being stored in a 2,600 meter reservoir (8,530 feet) below seabed. This marks a significant milestone for CCS. In a press release, Anders Opedal said that the industry of carbon capture transport and storage is scalable. The facility is a part of the heavily-subventioned Longship carbon storage and capture project in Norway, which aims to commercialise CCS to reduce CO2...

Statistics Norway (SSB), on Thursday, reported that the Norwegian economy grew faster than expected in its second quarter. The first-quarter data was also revised upwards. In a press release, SSB stated that "the expansion in the first halves of 2025 follows a longer period in which the Norwegian economy has grown at a slower pace." The central bank and the economists polled had predicted growth of 0.3%. The growth rate for the first quarter was revised up to 1.2%, from 1.0%. The Norwegian crown currency rose against the Euro to 11,90 at 0607 GMT, up from 11,92 before the release...

The head of the Brazilian oil lobby IBP said on Wednesday that energy companies in Brazil will resume oil exports to the United States following the exemption from U.S. duties for several oil products. The top Brazilian export to the U.S. is oil. It was exempted from the 10% tariff on Brazilian exports in April, but the uncertainty about whether it would be exempted under the new tariffs announced on the 9th of July led to a stoppage in shipments throughout the month. Despite the fact that President Donald Trump's Wednesday decree increased tariffs on Brazil by 50%, several Brazilian...

Roberto Ardenghy of the oil lobby group IBP told reporters on Wednesday that energy companies in Brazil have suspended oil exports to the United States following President Donald Trump's announcement of 50% tariffs against Brazil. The U.S. is Brazil's largest export market. Oil was exempted from the 10% tariff on Brazilian exports in April, but it remains unclear if the commodity will be exempted under the new tariff of 50% that is set to take effect on Friday. Ardenghy said, "This time there is no way to know." IBP represents Brazilian oil companies such as Petrobras, Shell, TotalEnergies ExxonMobil, Equinor,...

British Gas' owner Centrica announced on Thursday that its adjusted operating profits in the first six months of this year had been halved due to milder weather, lower wholesale energy prices, and weaker returns for gas storage. The company reported that its operating profit for six months ending June 30 dropped to 0.5 billion pounds, from just under 1 billion during the same period in last year. The core profit, or EBITDA, also dropped to 0.9 billion pounds compared to 1.4 billion. The company stated that the first half of 2025 was more challenging for British Gas Energy Residential and...

Two sources have confirmed that blasting will begin on the Loulo underground mine of Barrick Mining in Mali, four months after a provisional court-appointed administration was given control. The Loulo-Gounkoto Gold Complex has been operating under a provisional administration since the beginning of the year, but only to the extent that it transports ore to the plant to be processed. One source said that the provisional administrators planned to resume mining operations in September but they delayed the date because of negotiations with subcontractors. Some of them had not been paid after Barrick suspended its operations in January. UNPAID BILLS...

Four people with knowledge of the talks said that Trump administration officials had discussed taking a stake Critical Metals Corp. This would give Washington an interest in the biggest rare earths project on Greenland - the Arctic territory President Donald Trump suggested purchasing. The deal, if finalized, would be the latest political twist in the Tanbreez rare-earths deposit. Former President Joe Biden successfully lobbyed for it to be sold to New York based Critical Metals at a much lower price than the Chinese firm offered. Washington recently acquired stakes in Lithium American and MP Materials. This shows Trump's desire to...

The Danish Prime Minister apologized in person to women on Wednesday who had been victims of decades-long, involuntary contraception campaigns. These campaigns have left the islanders with deep wounds and damaged their relationship with their former colonial powers. Between 1966 and 1991 - the year Greenland gained control over its healthcare system - thousands of women and girls, some as young as 12, were fitted with intrauterine device without their consent or knowledge. Mette Frederiksen said, "I do not believe that we can achieve the equal and proper relationship many of us want unless we open even the darkest pages,"...

A spokesperson from Norges Bank Investment Management, the fund's operator said that Eramet, a French mining company, was excluded from its portfolio due to ethical reasons. According to data from the fund, as of 30 June, it held a stake in Eramet valued at $6.8 millions. Eramet didn't immediately respond to a comment request. The Council on Ethics of the fund, which is its ethics watchdog, recommended the divestment due to Eramet’s participation in Indonesia’s PT Weda Bay Nickel, where Eramet is the operator of mine. The Council on Ethics recommended that Eramet SA should be excluded. "There is an...

More than 150 executives from Europe's electric vehicle industry signed a Monday letter urging the European Union not to abandon its zero-emission target for cars, vans and trucks by 2035. Signatories from the electric car industry, including Volvo Cars, Polestar and others, have warned against any delay in meeting the targets. They said that this would lead to a stalling of Europe's EV Market, giving an advantage to competitors around the world and eroding the confidence of investors. This follows a separate, end-of-August letter from the heads of European automotive manufacturers' and suppliers' associations to European Commission president Ursula von...

SMG Swiss Marketplace Group, an online platform for real estate and auto sales, announced on Tuesday its intention to float. This is a sign that the European IPO market has been reviving after a long period of stagnation. TX Group owns 30.7% of SMG. TX Group stated that the timing of its planned IPO is dependent on market conditions. Further information will be provided in due time. The company did not specify how many shares will be offered in the floatation, but stated that it has no intention of selling any of its stock. TX Group said that it was...

European governments and businesses reacted on Monday with relief and concern to the framework deal reached with U.S. president Donald Trump. They acknowledged that it was an unbalanced agreement, but one which avoided a more serious trade war. The U.S. will impose an import tariff of 15% on the majority of EU goods, which is half the rate threatened, but more than the Europeans had hoped. The deal was not entirely clear at the time. As we wait for the full details of the EU-U.S. trade agreement, one thing is clear: this is a moment of relief but not celebration,"...

The top U.S. economic officials and Chinese representatives will resume their talks on Monday in Stockholm to address long-standing economic disputes that are at the heart of a trade conflict between the two largest economies. They hope to extend the truce for three months while preventing tariff increases. China faces an August 12 deadline for a lasting tariff agreement with the Trump administration. Beijing and Washington had reached preliminary agreements in May and early June to end weeks' worth of escalating tariffs, and to stop the cutoff of rare-earth minerals. If there is no agreement, the global supply chain could...

The top U.S. economic officials and Chinese economic officials are scheduled to resume their talks on Monday in Stockholm to address long-standing economic disputes that have been at the heart of the trade war between two of the world's largest economies. They hope to extend the truce for three months while preventing tariffs from rising sharply. China faces a deadline of August 12 to reach a lasting tariff agreement with the administration of President Donald Trump. Beijing and Washington had reached preliminary agreements in May and early June to put an end to weeks of escalating tariffs, including a ban...

The European Union found that it did not have the leverage it needed to force Donald Trump's America to agree to a trade agreement on their terms. So, it signed a deal which it could just about stomach. The agreement reached on Sunday on a 15% tariff blanket after months of standoff is a reality-check on the aspirations for the European Union, a 27-country bloc of countries, to become a power economic able to compete with the United States and China. The cold shower feels all the more refreshing, given that for years the EU has portrayed itself to be...

In their most recent earnings reports, some of the top technology firms in the world, such as U.S.-based Alphabet and South Korean chipmaker SK Hynix, as well Indian IT services provider Infosys have given upbeat guidance, despite an uncertain U.S. Trade Policy. The erratic U.S. Trade Action has overshadowed corporate operations, upending supply chains and leaving firms to navigate fluctuating tariffs. This is on top of other economic uncertainties like regulatory changes and currency fluctuations. Alphabet, SK Hynix, and Infosys, all of which reported earnings above market expectations, predicted a brighter future. Alphabet and SK Hynix have both announced plans...

Norsk Hydro, a Norwegian aluminium manufacturer, cut its capital expenditure guidance for 2025 by 1.5 billion crowns (roughly $147.5 million), and frozen external white-collar employment on Tuesday amid volatile input prices and uncertain demand. Tariffs imposed by the United States on aluminum have disrupted trade and driven physical market premiums up to record levels, increasing cost pressures and changing global supply lines. Hydro Extrusions plans to reduce more than 100 jobs by 2025. Prioritizing operational efficiency and cost reduction, the division will focus on cutting costs. "We have not yet seen major changes in our business operations due to tariffs...