Sweden

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...

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...

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. -...

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...