Scandinavia





Natural Gas Utilities

Statkraft, Norway's largest steel producer, reports a drop in profits and says that politics may have an impact on costs

Statkraft, a Norwegian company, reported a 56% decline in its fourth-quarter operating profit despite soaring power prices. Statkraft also warned that trade wars may increase the cost to build generation capacity. Birgitte Vartdal, CEO of Birgitte Ringstad, said that "potential trade wars would increase costs, and reduce the efficiency in the market." Statkraft's earnings before interest and taxes (EBIT) dropped from 11.5 billion Norwegian crowns to 5.1 billion Norwegian Crowns ($459m) compared to 11.5 billion a previous year. It said that the benchmark Nordic System power price has fallen to an average of 31,10 euros per Megawatt-hour, down 46.3% on...




Energy Markets

Crude Oil

Crude Oil

Morning bid Europe-It seems investors don't really like tariffs

Wayne Cole gives us a look at what the future holds for European and global markets. Investors are not happy with a trade war fueled by tariffs and a likely recession. Who knew? Wall St Futures and the Nikkei are both down about 3%. European stock futures have fallen around 1.7%. The Treasury yields have hit multi-month-lows while the dollar index has hit a six-month-low in chaotic conditions. The reaction matched the drama surrounding the announcement as President Donald Trump announced various taxes on live television from a large blue and yellow board. The list included 34% more for China,...

Crude Oil

MORNING BID EUROPE - Risk assets are trampled under Trump's tariffs for everyone

Trying to stay up-to-date with the latest news on tariffs? This daily news digest provides a quick overview of global trade headlines. Tariff Watch is free. Sign up here. Wayne Cole gives us a look at what the future holds for European and global markets. The week has started off rocky in Asia, as stocks have fallen across the board due to a rush to risk. Bonds extended their rally while gold reached another record. The mood was already fragile before the announcement of U.S. Tariffs on Wednesday, but President Trump exacerbated it by telling reporters aboard Air Force One...

Oil & Gas

Financial Times – March 31,

These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch their accuracy. Headlines Volvo Cars brings former boss back to provide a'steady' hand Trump threatens to impose secondary tariffs on Russian Oil if there is no agreement on Ukraine Isar declares launch of rocket a success, despite first-time failure to reach orbit Task force urges to eliminate oil and gas windfall taxes before 2030 View the full article Volvo Cars has appointed Hakan Samuelsson as its new chief executive after warning last month of a potentially challenging 2025. Donald Trump,...

Crude Oil

Investors see the beginning of a tectonic move away from US markets

The global money flows are being upended by a historic trade war, the proposed European fiscal bazooka of $1.2 trillion and China's rise as the leader in the tech race. This could be a turning point, with investor capital moving away from the United States. China released more stimulus on Tuesday and pledged to make greater efforts in order to mitigate the impact of a escalating U.S. Trade War. The likely next German government had agreed to the largest overhaul of fiscal policy since the reunification. German bonds plunged in the biggest sell-off in decades on Wednesday as the 30-year...

Crude Oil

Investors see the beginning of a tectonic move away from US markets

The global money flows are being upended by a historic trade war, the proposed European fiscal bazooka of $1.2 trillion and China's rise as the leader in the tech race. This could be a turning point, with investor capital moving away from the United States. China released more stimulus on Tuesday and pledged to make greater efforts in order to mitigate the impact of a escalating U.S. Trade War. The likely next German government had agreed to the largest overhaul of fiscal policy since the reunification. The U.S. trade war, which began this week, is hurting the mood both inside...

Crude Oil

MORNING BID EUROPE - Trump flags crypto reserves, mum on financing

Wayne Cole gives us a look at what the future holds for European and global markets. Crypto fans have had a great day after President Donald Trump announced on social media that he would be creating a reserve of digital assets, which included bitcoin, ether XRP, cardano, solana, and xrp. Bitcoin is around 10% higher while ether jumped by 13%. The fund's workings are still unclear and will likely be explained at the White House Crypto Summit on Friday. Analysts wonder how the reserve is going to be funded, given that the government has a debt of $36 trillion. Borrowing...

Crude Oil

Global stock markets fall as traders consider Trump's tariff threat

A global index was down on Wednesday as Wall Street and European shares fell. The latest tariff threats by U.S. president Donald Trump on imports of autos, semiconductors and pharmaceuticals also injected caution into the market. Trump has added a 10% tariff to all existing duties on imports from China since his inauguration, four weeks ago. He also announced and delayed by a month 25% tariffs on imports from Mexico and Canada that are not energy-related. Trump told reporters Tuesday that tariffs for pharmaceuticals and semiconductors would begin at "25 percent or more" before rising over a period of one...

Crude Oil

MORNING BID EUROPE - Hey, Asia also has tech shares

Wayne Cole gives us a look at what the future holds for European and global markets. The Asian share market has started the week on a positive note, despite a holiday that has reduced liquidity in U.S. stock markets. Hong Kong again led the charge, adding another 1.4% to last week's 7.5% jump amid optimism over potential low-cost AI application following the DeepSeek announcement. Goldman Sachs raised its outlook for Chinese growth and stocks. The firm argues that widespread AI adoption could increase earnings per share in China by 2.5% annually over the next decade. This would increase the fair...

Crude Oil

All tariffs at all times.

Wayne Cole gives us a look at what the future holds for European and global markets. The week began with the now-common bang of President Trump using a scrum in front of the media on Air Force One, to announce 25% tariffs for steel and aluminum imports into America. He also promised more reciprocal tariffs by Tuesday or Wednesday. The new Chinese retaliatory duties on the U.S. also came into force at the same time. German Chancellor Scholz stated that the EU would be ready to respond "within one hour" to any levies. Investors have sold the usual suspects, with...

Crude Oil

Sverdrup oilfield, a massive Equinor field, is shut down by a power outage

A company spokesperson confirmed that Norway's Equinor stopped all production from its Johan Sverdrup field in the North Sea on Tuesday due to a failure in the offshore electricity system. This is the largest oilfield producing in western Europe. The spokesperson did not elaborate. "Repair works have been started, and we're working on a plan to restart the system," he said. The oil price could be supported by the outage, as it was under pressure Tuesday due to concerns over global demand after U.S. Tariffs on China went into effect. Sverdrup produced up to 755,000 barrels per day of oil...

Crude Oil

Morning Bid America-Markets are frightened by the 'Tariff Man.'

Alun John is the EMEA Breaking News Correspondent for Finance and Markets. He gives us a look at what's ahead on U.S. markets and the global market. Investors fled stocks in Europe and Asia on Monday and rushed into dollars as they tried to deal with the effects of President Donald Trump's decision to impose tariffs that were higher than expected against top U.S. trade partners. Trump, in three executive orders, imposed tariffs of 25% on Mexican imports, most Canadian imports, and 10% on Chinese goods, beginning Tuesday. In the European morning, U.S. S&P futures fell by 1.7% while Nasdaq...

Crude Oil

Asia shares buoyed by Trump's China remarks, yen awaits BOJ

Global shares increased on Friday buoyed by the possibility of lower U.S. interest rates and a U.S.China trade deal following remarks from President Donald Trump, while the yen steadied ahead of an extensively anticipated walking from the Bank of Japan. In an indication of policies to come, Trump informed magnate at the World Economic Online Forum in Davos, Switzerland, on Thursday that he wishes to decrease global oil prices, interest rates and taxes, and warned of tariffs on exports to the United States. I'll require that interest rates drop right away. And similarly, they ought to be dropping all over...

Environment

Environment

Danish PM visits Greenland on a three-day trip amid Trump pressure

Denmark's Prime Minister landed in Greenland for talks on Wednesday with the incoming government of the semi-autonomous Danish territory. This was in response to President Donald Trump's expressed interest in controlling this vast Arctic island. Mette Frederiksen starts her three-day journey less than a month after the visit by U.S. vice president JD Vance to the territory was met with a cold reception from authorities in Denmark. She said that her goal was to strengthen Copenhagen’s ties with Greenland and stressed the importance of respecting cooperation in the face of what she called "great pressure" on Greenland. Frederiksen is expected...

Environment

Greenland strengthens Danish links as it seeks independence

Greenland's new prime minister said on Monday that it will continue to strengthen its relationship with Denmark until the island can become a sovereign country. He noted that the semiautonomous Danish territory eventually wants to be independent. Jens-Frederik Nielsen (33), was sworn-in as Prime Minister of Greenland, Friday. He will lead a coalition government made up of four parties, despite the challenges presented by U.S. president Donald Trump's ambitions for control over the island. Nielsen stated, "We are currently in the Kingdom Denmark and we must continue to strengthen our relationship, our partnership, until we become a sovereign country." He...

Carbon Emissions

Sweden offers state loans to build new nuclear reactors

The Swedish government proposed Thursday state loans and guarantees of power prices to help companies finance the construction of four nuclear power plants as part of its strategy for increasing electricity output and reducing carbon dioxide emissions. The Swedish government said that the Nordic country could need up to 10 large nuclear reactors in 2045, as industry and transport move away from fossil fuels. Demand for electricity will also increase to 300 terawatt-hours (TWh), from 135 TWh by 2023. The government is now willing to finance the construction costs estimated by previous studies at 10s of billions dollars. The right-wing...

Mining

Mineral Resources

Mineral Resources

New York Times Business News - March 31, 2019

These are the most popular stories from the New York Times' business pages. These stories have not been verified and we cannot vouch their accuracy. If he believes that Moscow is blocking the efforts of President Donald Trump to end the conflict in Ukraine, he will impose secondary duties of 25 to 50 percent on Russian oil buyers. Nearly 40 countries, including China and Russia, have voiced their opposition to the plan of The Metals Company, a Canadian miner, to begin seabed mining on the Pacific Ocean. The company applied for exploration permits and permits to the U.S. Department of...

Mineral Resources

Who won Greenland’s parliamentary election?

Greenland's business-friendly opposition party, Demokraatit The Tuesday Parliament Election The debates about self-rule were dominated by the pledge of U.S. president Donald Trump to seize control of Greenland. Greenland was formally incorporated into the Kingdom of Denmark as a territory in 1953. Copenhagen controlled foreign affairs, defence, and monetary policies. In 2009, the island was granted the right to full independence by a referendum. However, it has not done so. WHAT WERE RESULTS OF THE VOTING? Around 40,500 of Greenland’s 57,000 residents were eligible to cast their vote. A little over 28600 people voted. Inatsisartut is the Greenland parliament. There...

Mineral Resources

Scania, a Northvolt shareholder, has secured an additional supply of battery cells

Scania, the Swedish truck maker and shareholder of Northvolt, a struggling battery manufacturer, announced on Monday that it had acquired an alternative supply for battery cells in an effort to diversify their supply chain. Northvolt, once regarded as Europe's top contender for the electric vehicle battery leader, filed for Chapter 11 bankruptcy protection in November last year and is now seeking to raise money and restructure their debt. Scania stepped up to help Northvolt run its flagship factory in northern Sweden, in order to improve quality and production at the electric car battery manufacturer. Scania, owned by Traton, and its...

Climate Change

Inuit pride fuels Greenland independence spirit after Trump interest

In a small workshop in Nuuk, the capital of Greenland, goldsmith Nadja Kreutzmann polishes stones and metals mined on this vast island rich in minerals. Her jewellery is decorated with Inuit symbols for life and survival. Indigenous identity in Greenland is resurging ahead of the March 11 general elections called by U.S. president Donald Trump after he said he wanted Greenland to be his. Trump's interest in Greenland has shaken up the status quo. This, coupled with growing Inuit pride has led to some locals viewing the vote as an historic opportunity to free Greenland of Danish influence. Greenland is...

Mineral Resources

Aluminium producer Norsk Hydro lags profit forecast in 4th quarter

Norsk Hydro, a Norwegian aluminium manufacturer, missed its fourth quarter profit expectation on Friday. Higher costs and weaker downstream demand were only partially offset by high alumina and aluminum prices and positive exchange rates. The adjusted earnings before taxes, depreciation, and amortization more than doubled in the fourth quarter of 2024 to 7,70 billion Norwegian crowns (690.5 million dollars). However, this was below analysts' expectations of 8,28 billion crowns. The 25% tariffs imposed by President Donald Trump on steel and aluminum are increasing U.S. prices, exposing the production gap at home and creating a possible cost increase for producers of...

Mineral Resources

The license holder claims that the repeal of Greenland's uranium ban could bring back a massive rare earth project.

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...

Mineral Resources

Pandora's growth will be lower in 2025 following strong holiday sales in the U.S.

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...

Mineral Resources

Sweden's LKAB states it might fulfill 18% of Europe's unusual earth requires with Per Geijer mine

Sweden's LKAB might provide around 18% of Europe's uncommon earth metal demand in the long term if its north Arctic Per Geijer mine enters production, the company stated on Tuesday as it began building and construction of an associated processing center. Uncommon earths are a group of 17 metals crucial to items from lasers to iPhones and green technology secret to meeting Europe's environment goals. State-owned LKAB broke ground on Tuesday on its 800 million crown ($ 73 million) Lulea plant in northern Sweden, which will process mining waste, including potentially from Per Geijer, into rare earth concentrate, phosphoric acid...

Mineral Resources

Weight-loss drug developers line up to tap market worth $150 billion

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...

Mineral Resources

Tesla castigates German union over effort to oust works council head

Tesla implicated Germany's IG Metall union of attempting to sow discontent at the EV maker's gigafactory near Berlin by seeking to oust the head of the works council, in the current sign of the sour relationship in between the 2 sides. IG Metall, Germany's most effective union, stated previously it had filed a movement with a local court to get rid of the plant's. works council head - who is not a member of the union - from the. committee. The union cited infractions to German labour law restricting. IG Metall's influence and avoiding it from properly. representing employees' interests....

Mineral Resources

As tariffs loom, Gillette-razor maker P&G sourcing more steel from India

Procter & & Gamble has overhauled its supply chain for the small, extrathin strips of stainless steel in its Gillette razors to source from India, a. relocation expected to assist safeguard its margins from any tariffs U.S. PresidentElect Donald Trump may impose. The stainless steel the Gillette-brand razor maker uses is. extremely specialized to avoid nicks and cuts and is just. produced in big amounts by a handful of business, none of. which lie in the U.S., P&G has told the U.S. Commerce. Department in public filings. A Reuters analysis of import records over the previous four. years programs that...

Mineral Resources

Norway's Hydro to phase out battery and green hydrogen companies

Norwegian aluminium maker Norsk Hydro is no longer buying its battery and green hydrogen companies and will phase out these operations due to the tough market conditions, it stated on Wednesday. As part of its drive to concentrate on green aluminium, Hydro is introducing a new expense cutting programme targeting 6.5 billion Norwegian crowns ($ 582 million) of cost savings by 2030, with an aim of strengthening its aluminium recycling and extrusions operations towards 2030. Battery materials and green hydrogen will no longer be tactical growth locations for Hydro and no more capital will be designated, it stated in a...