Sweden

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...

Finland's largest power utility Fortum has experienced satellite disruptions, identified drones and suspicious individuals around its energy assets and been targeted with everyday denialofservice attacks, its president told Reuters. There are different type of cyberattack efforts, or cyber security breach efforts, against us daily, and after that less often, drones and different kinds of suspicious motion around our possessions, Markus Rauramo said, adding power plants' satellite connections were disrupted previously this year. Rauramo said Fortum, which has hydro, wind, solar, nuclear and combined heat and power (CHP) plants, had asked Finnish authorities to examine the occurrences. He included the situation...

Precidian Investments released hedged ADRs on Monday that U.S. investors can utilize to purchase foreignlisted stocks while restricting the impact of fluctuating currencies. Precidian, an exchange-traded fund developer, said it will list the hedged American Depositary Receipts on Cboe's U.S. equities exchange. Financiers buying shares of business overseas, consisting of ADRs, are exposed to varying currency exchange rate in between the dollar and the foreign currency. But by coupling the ADRs with a. currency overlay into one security, financiers can alleviate. currency direct exposure, said Cboe. The Canadian Imperial Bank of Commerce will be the. counterparty supplying the currency hedge....

A plan to develop among Europe's largest batterygrade lithium refineries in Portugal by end2025 is facing delays due to the intricacy of the project and uncertainty about grant funding, among the partners, Galp , said on Thursday. The 50-50 joint venture Aurora in between the Portuguese oil business and Swedish battery maker Northvolt, established in November 2021, had actually formerly anticipated the refinery to start industrial operations in early 2026. The refinery, with approximated investments of over 1 billion euros ($ 1.10 billion), aims to have an initial yearly production capacity of as much as 35,000 metric lots of lithium...

Poland's largest energy supplier PGE need to have the lays out of a new strategy to spinoff its coal assets in the fourth quarter, its deputy operations chief stated on Wednesday, after the brand-new federal government cooled on the previous one's proposal. Under the previous government's strategy, the units of state-controlled PGE, Tauron and Enea that run coal-fired power plants were to be bundled into NABE, a new state-owned company that would assume their debts. The plan was focused on reducing the burden on the business as coal possessions become harder to finance. But NABE might press Poland's already extended...

The following are the top stories in the Financial Times. has not validated these stories and does not guarantee their accuracy. Headings - WPP lines up former BT boss Philip Jansen as its new chair - Vitol's senior staff members paid a record $6.4 billion last year - NHS guard dog blocks AstraZeneca breast cancer drug - UK regulator considers rolling back insurance coverage rules for big business Introduction - WPP is set to pick former BT chief Philip Jansen as its brand-new chair, ending a lengthy search for a conference room heavyweight to help the UK-based marketing group through...

Finland's Gasum, a crucial gas provider to the Nordic area, will stop buying and importing Russian melted gas ( LNG) in July in line with fresh European Union sanctions, the company stated on Tuesday. Gasum complies with all sanctions enforced by the EU and will not acquire or import Russian LNG since 26 July, it stated in a declaration. EU member countries on Monday embraced a 14th package of sanctions on Russia that struck the nation's gas exports for the very first time. This includes a stipulation restricting the purchase or importation of Russian LNG through European Union terminals that...

Europe has actually clocked a. record number of hours of negative power rates this year due to. a mismatch between need and supply as solar energy generation. soars, potentially helping to move investment to much needed. storage options. Wholesale power markets in most of Europe's key economies. turned out no or negative prices for a record variety of hours. in the first 5 months of this year at times of low demand. That means producers more frequently need to pay to unload. power, or stop their plants. One could definitely state that, at this moment, success is. consuming its own...

The Dutch federal government stated on Thursday it would try to find another purchaser or seek an IPO for the German arm of its stateowned electric grid company, after a sale to the German government foundered on Berlin's spending plan strains. The collapse of talks is a headache for grid company TenneT, which is pursuing a 160 billion euro ($ 171 billion) financial investment strategy, Europe's largest, and will hinder both countries' efforts to fulfill green energy targets. In a letter to parliament, Dutch financing minister Steven van Weyenburg said German officials had told him on Wednesday that the deal...

Sweden's Vattenfall has shortlisted Britain's RollsRoyce SMR and U.S. group GE Hitachi Nuclear Energy for the potential construction of little modular reactors, the stateowned utility said on Wednesday. Vattenfall considers structure SMRs beside the business's. existing nuclear power plant at Ringhals in Sweden. In parallel, Vattenfall is continuing to investigate the. conditions for constructing massive reactors on the website, the. company said in a declaration. Suppliers included in the assessment of massive reactors. are U.S. group Westinghouse, French EDF and South Korea's KHNP,. Vattenfall included. The Swedish government has stated it wants a large build out. of nuclear power by...

Investors in European equities are stepping up their look for stocks that are likely to benefit from lower borrowing expenses, after the European Reserve bank's (ECB) first interestrate cut in practically 5 years. While the cut was expected, analysts see the relocation as a. potential turning point for beaten-down sectors like utilities. and small caps, and even extremely shorted stocks, which have. suffered as rates have risen and remained high. Banks, which have. been a few of the biggest recipients of policy tightening up,. could rather remain in for profit-taking. Much depends upon how fast inflation falls towards the main....

European Energy Exchange's. Nasdaq offer risks a fullscale examination. by EU antitrust regulators unless the Deutsche Boerse. system boosts solutions to address competition concerns, individuals. with direct knowledge of the matter stated on Monday. EEX is seeking to acquire Nasdaq's European power trading. and clearing organization Nasdaq Power, whose platforms are of key. significance for users and companies in the Nordics. It. sent solutions to the EU on May 27 however did not make information. public. The EU antitrust guard dog is not likely to look for feedback from. users and rivals on the solutions currently sent, an indication that....

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. -...

Canada's Lucara Diamond Corp has actually found a 2,492 carat diamond at its Karowe mine in Botswana, the business stated late Wednesday, among the biggest stones to be excavated. Lucara did not expose the stone's gem quality but its size would make it the second biggest rough diamond found to date, after the 3,106 carat Cullinan Diamond found in neighbouring South Africa in 1905. After being cut and polished, it became part of the British crown gems. The Karowe Mine is understood for producing large stones, with other considerable finds including the 1,758 carat Sewelô and the 1,109 carat Lesedi...

The following are the top stories on the business pages of British newspapers. has not confirmed these stories and does not guarantee their accuracy. The Times - Anglo American took a $1.6 billion writedown at its Woodsmith mine fertiliser project in Britain. - Britain's accounting guard dog, the Financial Reporting Council, provided financial sanctions totalling 48.2 million pounds ($ 61.98 million) in the year to the end of March, going beyond the previous record of 46.5 million pounds ($ 59.79. million) embeded in the 2021-22 fiscal year. The Guardian - Financial innovation company Revolut has actually secured a UK banking....

Spanish steelmaker Acerinox stated on Wednesday that exposure would remain bad across the European steel markets in the third quarter, as economic uncertainty equates into slower than anticipated demand recovery. European steelmakers are struggling to recover after a. severe reduction of their stocks, as they need to take on. swings in rates of basic materials and cooling global demand,. combined with cheaper Asian steel imports. With stocks at such low levels, there is little. confidence in the economy. This is more pronounced in Europe. than in the U.S., CEO Bernardo Velazquez informed in an. interview. Lots of investments are waiting...

Chery Car, China's largest car manufacturer by export volume, expects its planned production in Europe to assist offset the effect of European Union tariffs on imports of Chinamade electrical automobiles, a senior executive said on Thursday. Having regional production must help us reduce some of the effect of responsibilities, Charlie Zhang, vice president of Chery Auto and president of its European service, told media a day after the EU said it would impose additional tariffs of up to 38.1%. tariffs on Chinese EV imports. Under the EU's proposal, Chery's imports will incur tariffs. of 21%. In the briefing, Zhang said...

Waystar, a personal equityowned provider of software that assists healthcare facilities and medical professionals' practices manage their financial resources, has raised $968. million in its initial public offering, the business stated on. Thursday. The IPO of 45 million shares was priced at $21.50 a share,. Waystar said. The rates, which remained in the middle of its. showed range, offers Waystar a completely watered down appraisal of. $ 3.69 billion. reported the pricing earlier based upon sources. The development in Waystar's IPO shows the market for new. listings remains open after aluminium recycler Novelis pulled. its stock exchange debut that would...

The European Commission will launch calls within days for projects to improve EU supply of vital minerals and hopes soon to start joint EU purchases along the lines of its existing plan for gas, a senior commissioner said on Wednesday. The EU Critical Raw Materials Act is created to guarantee a. supply of lithium, copper and other minerals essential for the. EU's green and digital shifts, to make it possible for the bloc to. produce its own electrical automobiles or wind turbines and to decrease. dependence on China. It enters force on May 23. Commission Vice-President Maros Sefcovic stated the...

Boliden will restart production at its Tara zinc mine in Ireland in the 3rd quarter after being closed for almost one year, the Swedish mining group said on Friday. Tara will gradually increase production to reach full capacity from January 2025, Boliden said. The mine was suspended considering that last June after costs of the galvanizing metal hit a three-year low. It is Europe's largest zinc mine and produced more than 300,000 metric lots of zinc focuses a year. Tara's. suspension, together with disruptions at significant Australian mines. had actually triggered a tighter supply of zinc focuses. A contract has...

In charge of Spanish steelmaker Acerinox says the European Union ought to do more to curb steel imports from Asia, which are harming a few of the EU's. mills as need and rates deteriorate. China raised steel production by 13% in 2023 while the rest. of the world decreased it due to weaker demand. Indonesia and. China have currently exceeded 70% of the world's steel production. share, Acerinox CEO Bernardo Velazquez informed . With domestic demand not recovering as much as expected,. China's exports of steel items increased by 25% in March. year-on-year to 9.89 million metric lots, the highest...

Britain's benchmark FTSE 100 stock index scored its 3rd successive record high on Thursday, led by miner Anglo American on a buyout deal from BHP Group, while investors cheered incomes from several bluechip companies including Unilever, AstraZeneca and Barclays. The blue-chip FTSE 100 ended the session up 0.5%,. after striking a fresh all-time high of 8,105.59 points earlier. in the day. Anglo American rose 16.1% to an more than 10-month. high after BHP made an offer to purchase the London-listed. miner, valuing its share capital at $38.8 billion. The offer would create the world's biggest copper miner with. around 10%...