Sweden

The Finnish utility Fortum reported on Tuesday that its fourth-quarter operating profit was below analysts' expectations. It cited lower volumes of hydro and nuclear power and weaker prices. Fortum says that the fall in Nordic spot prices was partially offset by the ongoing recovery of Nordic power demand. According to a poll conducted by the company, analysts had expected 280 million euro in operating profit. Fortum CEO Markus Rauramo stated in a press release that the comparable operating profit of the Generation segment decreased due to lower volumes for hydro and nuclear and lower spot and hedge price. Operating profit...

Swedish telecom gear maker Ericsson anticipates the United States to continue to be at the forefront of technology development under President Donald Trump, which the business is prepared to make the most of, its chief technology officer said. The market is now in full-execution stage of OpenRAN, CTO Erik Ekudden informed the Reuters Global Markets Online forum, including: Of. course we plan to continue to lead and drive that industry. development. OpenRAN permits operators to mix and match suppliers in their. radio networks. Ericsson, Huawei and Nokia. , dominate the global telecoms equipment market with. their proprietary technologies. The focus...

Norwegian industrial software company Cognite strategies to move its head office to the U.S. this year to gain access to fastergrowing markets in North America, Asia, and the Middle East, its cofounder John Markus Lervik told Reuters on Tuesday. Lervik told the Reuters Global Markets Forum that Europe's. regulative environment was hindering growth. We are doubling down in the U.S., and with the new. president's concentrate on financial investment, we're growing additional. strongly, with over 100 open positions, he stated. Donald Trump's second presidency, marked by trade hazards. and sweeping executive actions, positions fresh threats for European. players as tariffs...

Six European Union countries called on the European Commission to decrease the $60 per barrel price cap put on Russian oil by G7 countries, arguing it would decrease Moscow's revenues to continue the war in Ukraine while not causing a market shock. Cost caps on Russian seaborne crude in addition to refined petroleum items were set by G7 countries to suppress Moscow's. profits from oil trade and in this method limitation the nation's. capability to fund its invasion of Ukraine. Procedures that target incomes from the export of oil are. crucial considering that they lower Russia's single most important earnings....

An increase in investor advocacy in Japan is poised to fuel a new age of management buyouts by establishing families, after the fight for 7Eleven's parent business prompted a $58 billion takeover offer from the Ito dynasty that built the retail giant. Seven & & i Holdings Vice President Junro Ito swooped in last month with a deal to take private the company established by his late father in what would be the biggest ever management buyout (MBO). Ito's white knight bid appears developed to keep 7 & & i. far from Canada's Alimentation Couche-Tard, which. revealed a takeover proposition...

Personal equity company EQT said on Thursday it is introducing a brand-new energy shift financial investment method with the acquisition of ju: niz. Energy, a German battery storage organization. Under EQT Infrastructure, the method will see investment. directed towards companies operating in new energy transition. infrastructure, such as electrification, electrical lorry. charging, electric heat pumps, advanced recycling and battery. storage across The United States and Canada, Europe and Asia Pacific. The acquisition of ju: niz Energy, headquartered in Aschheim,. Germany, from its founder for an undisclosed quantity, will be. moneyed with balance sheet capital, EQT said. Investments under the method...

Private equity firm EQT is releasing a brand-new energy shift fund by obtaining ju: niz Energy, a German battery storage company, sources acquainted with the matter informed Reuters. The fund will become part of EQT Infrastructure and purchase companies running in the energy transition area, such as companies in electrification, electric lorry charging, electrical heat pumps, advanced recycling and battery storage throughout The United States And Canada, Europe and Asia Pacific, the sources said, speaking on condition of anonymity. Its very first investment is the acquisition of ju: niz Energy, headquartered in Aschheim, Germany, from its creator for an undisclosed...

Japan's Seven & & i Holdings got a buyout proposition from a member of its founding Ito family last week, a possible $58 billion whiteknight bid which would see the company go personal and allow it to continue running under existing management. Many worldwide retailers have actually decided to stay privately owned or have founding families which have actually maintained considerable stakes. An index assembled by EY and University of St. Gallen at the start of 2023 listed the 500 largest household services internationally ranked by revenue. Below is a list of the biggest 20 family-owned retailers, both publicly listed...

Portuguese energy business Galp is in no rush to make a last investment decision ( FID) to construct a batterygrade lithium refinery in Portugal amidst challenging market conditions, CEO Filipe Silva said on Monday A 50-50 joint endeavor between Galp - which previously on Monday. reported a 22% decline in third-quarter adjusted core earnings - and Swedish battery maker Northvolt, dubbed Aurora and established in November 2021, was formerly anticipated to reveal the FID by completion of 2024. However, the refinery, which was set up to begin business operations in early 2026, is dealing with hold-ups due to the complexity...

Finland's Nokia is in talks with Bharti Airtel about protecting a. multibillion dollar agreement to provide 5G telecom devices. for the Indian mobile operator which is broadening its network,. 3 sources acquainted with the matter said. Swedish telecom gear maker Ericsson currently won a. multi-billion dollar contract from Bharti Airtel, Reuters. reported on Monday. India is the world's second-largest smartphone market where. companies such as Airtel, Reliance's Jio and Vodafone. Concept have actually been investing billions of dollars to update. their networks to 5G. Their orders in 2015 had actually helped Nokia and Ericsson offset. weak point in demand from...

The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their precision. The Times - Walgreens Boots Alliance, which runs more than 8,700 shops in the United States and 2,000 Boots pharmacies in the UK, stated on Tuesday it would shut 1,200 shops in the U.S. over the next 3 years. - British financing minister Rachel Reeves is drawing up plans for as much as 40 billion pounds ($ 52.28 billion) worth of tax rises and costs cuts to prevent a return to austerity. The Guardian...

Nordic utility Fortum faces cyberattacks on a daily basis in Finland and Sweden and has often spotted drones and suspicious people near its sites, its CEO told Reuters, including the company had asked the authorities to investigate. Security services in Finland and Sweden decreased to comment on specific incidents, but both have actually declared a pick up in destructive activities by Russia in the last few years. Russia's foreign ministry or embassy in Helsinki did not right away respond to a written request for comment. Finland and Sweden angered eastern neighbour Russia by signing up with the Western military alliance...

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...

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...

Northvolt's. monetary collapse has actually not totally crushed Europe's dream of. establishing its own electric car batteries but satisfying it. is likely to require Chinese cash and knowledge. InoBat CEO Marian Bocek's Slovakian start-up had to work. hard to secure financing till China's fifth-largest battery maker. Gotion bought a 25% stake last year and formed a. joint endeavor with InoBat to construct European gigafactories. On Friday, InoBat revealed 100 million euros ($ 104 million). in Series C financing, taking its total raised to well over 400. million euros. Coming simply weeks after Northvolt's failure, the investment. shows European EV battery...

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....

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...

Norway's Hydro said on Thursday it is now the sole business funding the Hydrovolt battery recycler, while its partner in the joint venture, Sweden's Northvolt, is no longer associated with paying for the operations. The Norwegian group has actually just recently raised its stake in Hydrovolt to 62% from the original 50% owned when the partnership was established in 2020, a Hydro spokesperson stated. We're continuing our operations and activity as prepared, in line with the board's strategy, a Hydrovolt representative stated. Northvolt did not immediately react to ask for remark. Northvolt, as soon as hailed as Europe's finest contended...

In the race to protect copper for the clean energy transition and expert system applications, a range of business are shooting up deserted properties when seen as financial liabilities to fast-track considerable volumes of supply. The call for copper is poised to rise in coming years due to its function in electrical cars, renewable resource and information centers for artificial intelligence. Need is expected to outstrip supply by 1.7% in 2035, and copper rates have scaled record highs this year. So business are aiming to rejuvenate older mines. Normally, it takes a minimum of 10 years and as much as...

Swedish steelmaker SSAB reported a smaller sized than expected drop in its thirdquarter running profit on Wednesday, pointing out more resistant demand for its highstrength steel despite still weak European markets. Steel companies have actually dealt with damaging demand and ruthless competition from cheaper Asian competitors, as cost inflation continues to weigh on profits and higher spending is required to cut emissions of the carbon-heavy industry. SSAB's running outcome slumped 71% from a year previously to 1.25 billion Swedish crowns ($ 118.6 million) in the July-September quarter, but beat experts' typical forecast of 1.05 billion crowns in a consensus provided...

Swedish battery maker Northvolt will be able to pay its taxes that fall due on Oct. 14, it told Reuters on Thursday, addressing speculation regarding whether the struggling business would have the ability to do so. Cash-strapped Northvolt announced in September that it would slim down and cut tasks, stimulating fears that Europe's best shot at a homegrown electric-vehicle battery champion might stall due to production issues, slow demand and competitors from China. While the company has rapidly broadened over the previous couple of years, one of Europe's best-funded start-ups with more than $10. billion in funding started revealing signs...

The global zinc market is dealing with a large supply deficit in 2024 as a basic materials capture forces smelters to decrease production of refined metal. The International Lead and Zinc Study Hall (ILZSG) has significantly modified its assessment of zinc market characteristics given that it last satisfied in April. A previously expected supply surplus of 56,000 metric tons has actually been updated to a 164,000-ton supply deficit. Mine production is now anticipated to fall for a 3rd successive year and smelter treatment terms, a good indicator of basic material accessibility, have turned negative. China, which hosts the world's biggest...

ChineseSwedish EV brand Lynk & & Co, which will launch its first Chinamade batteryelectric automobile in Europe next month, said it did not intend to pass on the expense of looming tariffs on the car to customers. We can not - a lot of the competitors are produced in Europe ... we need to price the car properly in the market and work from there, the brand name's CEO for Europe, Nicolas Appelgren, stated in an interview at the Automechanika autos trade fair in Frankfurt. Still, whenever the brand - co-owned by Zhejiang Geely Holding Group and Volvo Cars -...

The following are the top stories from selected Canadian newspapers. Reuters has not confirmed these stories and does not attest their accuracy. THE WORLD AND MAIL - A union of Canada's property and casualty market associations asked insurance regulators to establish a more cohesive licensing regime, after four severe weather events this summer season saw a spike in natural-disaster claims in the country. - Swedish battery maker Northvolt AB said it is proceeding with its task in Saint-Basile-le-Grand near Montreal, including it would also shrink its operations in Europe and cut jobs amidst a slowdown in international electric-vehicle demand. -...