DIRS.INFO The most relevant business & tech news

☆ Wegovy Maker Novo Nordisk to Spend $6 Billion Boosting Production Capacity
▼ + stars: | 2023-11-10 | by ( Dominic Chopping | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/health/pharma/novo-nordisk-invests-over-6-bln-to-boost-production-capacity-f01c9d74

Persons: Dow Jones Organizations: pharma, nordisk

☆ Maersk to Cut 10,000 Jobs as Cargo Boom Ends
▼ + stars: | 2023-11-03 | by ( Dominic Chopping | Costas Paris | ) www.wsj.com time to read: 1 min

Maersk enjoyed record profits over the past two years as the pandemic drove a surge in demand for goods. Photo: JACOB GRONHOLT-PEDERSEN/REUTERSShipping and logistics giant A.P. Moller-Maersk said it would cut more than 10,000 jobs, as a pandemic-fueled cargo boom has ended, leaving the industry with a surplus of ships and sharply lower freight rates. Maersk, a bellwether for global trade, saw its third-quarter profit plummet to $521 million from $8.88 billion last year. Its main Ocean division posted a quarterly loss for the first time in many years.

Persons: JACOB GRONHOLT, PEDERSEN, Moller, Maersk Organizations: Maersk, REUTERS Shipping

☆ Wegovy Maker Novo Nordisk’s Profit Surges on Weight-Loss-Drug Demand
▼ + stars: | 2023-11-02 | by ( Dominic Chopping | ) www.wsj.com time to read: 1 min

Diabetes drugs could become an effective way to treat behavioral issues and addiction. WSJ’s Daniela Hernandez breaks down the science on how they work and how they could change psychiatry forever. Photo illustration: Elizabeth SmelovWegovy maker Novo Nordisk reported soaring profit, boosted by blockbuster weight-loss drugs that have quickly made the Danish drugmaker Europe’s most valuable company. Surging demand for the drugs has supercharged the company’s stock price, tilted the scales of its home economy in Denmark and triggered a frenzy on Wall Street over how the treatments and others like it might affect other industries, including snack foods and airlines.

Persons: WSJ’s Daniela Hernandez, Elizabeth Smelov Organizations: Novo Nordisk Locations: Danish, Denmark

☆ Wind Power Write-Downs Cast Shadow Over Industry Outlook
▼ + stars: | 2023-11-01 | by ( Giulia Petroni | ) www.wsj.com time to read: +5 min

Wind-power developer Orsted scrapped projects in New Jersey citing supply-chain problems and high interest rates. Orsted , BP and Equinor have collectively written off $4.8 billion against U.S. offshore wind projects in recent days. Equinor, BP’s partner on the Empire Wind and Beacon Wind projects, booked an impairment of around $300 million on its U.S. portfolio. Utility Dominion Energy on Tuesday received a key federal approval for its 2.6-gigawatt offshore wind project in Virginia. And Orsted confirmed its final investment decision into Revolution Wind, an offshore 704-megawatt project in Connecticut and Rhode Island.

Persons: Wayne Parry, Orsted, Mads Nipper, henning bagger, ”, Phil Murphy ’, Martin Tessier, Stifel ’, —, Engie, Vattenfall, Russ Mould, AJ Bell, Dominic, Giulia Petroni Organizations: Associated, U.S, Agence France, Republicans, Democratic Gov, ”, BP, Iberdrola, Shell, Business, Siemens Energy, Dominion Energy, giulia.petroni@wsj.com Locations: New Jersey, U.S, Danish, New York, Connecticut, Massachusetts, Swedish, Norfolk, Virginia, Rhode Island, Asia Pacific, Europe

☆ Orsted Books $4 Billion in Impairments, Walks Away From Two U.S. Offshore Projects
▼ + stars: | 2023-11-01 | by ( Dominic Chopping | ) www.wsj.com time to read: +5 min

However, the company said it has taken the final investment decision on the Revolution Wind project offshore Rhode Island, meaning it will now proceed to construction phase. Orsted isn’t alone in facing the increasing financial challenge of building new sprawling offshore projects. New York regulators last month denied requests from offshore wind developers including BP , Equinor and Orsted to give them a higher price for electricity generated from their projects off the state’s coast. The company still sees full-year Ebitda excluding new partnership agreements and provisions of between DKK20 billion and DKK23 billion. Gross investments for the year are now seen at DKK40 billion to DKK44 billion from DKK44 billion to DKK48 billion previously.

Persons: DADO RUVIC, REUTERS Orsted, Orsted, ”, Mads Nipper, Orsted isn’t, Norway’s, Dominic Organizations: REUTERS, Eversource, BP, New Locations: New Jersey, DKK268, Danish, Rhode, New York

☆ Nokia to Slash Up to 14,000 Jobs as Telecom Operators Cut Spending
▼ + stars: | 2023-10-19 | by ( Dominic Chopping | ) www.wsj.com time to read: 1 min

Nokia’s headquarters in Espoo, Finland. Photo: lehtikuva/ReutersNokia said it plans to cut up to 14,000 jobs as the telecommunications-equipment maker wrestles with a sharp downturn in spending by telecom operators. The Finnish company said Thursday it would shrink its workforce to between 72,000 and 77,000 by 2026, from 86,000, depending on how market demand evolves. The cuts are part of an effort to generate annual cost savings of up to 1.2 billion euros, equivalent to $1.26 billion.

Organizations: Nokia Locations: Espoo, Finland

☆ Dominic Chopping — Senior Reporter at The Wall Street Journal
▼ + stars: | 2023-09-25 | by ( Dominic Chopping | ) www.wsj.com time to read: 1 min

Dominic ChoppingDominic Chopping is a senior reporter for The Wall Street Journal and Dow Jones Newswires in Stockholm, where he manages Nordic and Baltic real-time news, covering companies, economies, forex, macroeconomics and general news in the region. He publishes news flashes and writes breaking news stories and analytical pieces. In addition to his regular coverage of regional corporate heavyweights such as Ericsson, Nokia, H&M and Volvo, he frequently reports on Scandinavian monetary policy and has recently expanded his coverage to include start-ups in the green technology space. Before moving to Sweden, Dominic worked on the U.K. corporate real-time desk in London, covering stocks from FTSE100 majors to small AIM-listed growth businesses. He joined Dow Jones in 1999 after starting his career in the industry as a U.K. data editor at Financial Times Information.

Persons: Dominic, Dow Jones Organizations: Wall Street Journal, Dow, Nordic, Ericsson, Nokia, Volvo, AIM, Financial Times Information Locations: Stockholm, Baltic, Sweden, London

☆ Lego’s Latest Effort to Avoid Oil-Based Plastic Hits Brick Wall
▼ + stars: | 2023-09-25 | by ( Dominic Chopping | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/retail/legos-latest-effort-to-avoid-oil-based-plastic-hits-brick-wall-8046af66

Persons: Dow Jones

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/economy/central-banking/americas-obsession-with-weight-loss-drugs-is-affecting-the-economy-of-denmark-22797e5c

Persons: Dow Jones, 22797e5c Locations: denmark

☆ Weight-Loss Drug Wegovy Will Stay Hard to Get This Year
▼ + stars: | 2023-08-10 | by ( Peter Loftus | Dominic Chopping | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/novo-nordisk-raises-guidance-amid-surging-demand-for-diabetes-obesity-drugs-e482eeb2

Persons: Dow Jones Organizations: nordisk

☆ Maersk Is Cutting Costs on Continued Container Downturn
▼ + stars: | 2023-08-04 | by ( Dominic Chopping | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/maersk-is-cutting-costs-on-continued-container-downturn-7d9fc165

Persons: Dow Jones

☆ Wegovy Maker to Limit Starter-Dose Supplies in U.S. as Demand Surges
▼ + stars: | 2023-05-04 | by ( Dominic Chopping | ) www.wsj.com time to read: 1 min

Ozempic and Wegovy have become popular as treatments for weight management. Photo: JIM VONDRUSKA/REUTERSThe Danish pharmaceutical giant that makes the obesity drug Wegovy said it would temporarily hold back some lower-strength starter doses in the U.S. in an effort to safeguard supplies for current patients amid soaring demand. The Food and Drug Administration cleared Wegovy, made by Novo Nordisk , as a treatment for chronic weight management in 2021. It has since exploded in popularity.

☆ Why You Might Not Be Able to Start Taking Wegovy
▼ + stars: | 2023-05-04 | by ( Dominic Chopping | Peter Loftus | ) www.wsj.com time to read: 1 min

Some drugs initially approved to treat Type 2 diabetes are now being used for cosmetic weight loss. WSJ’s Daniela Hernandez explains how they work, their side effects, and concerns over unintended consequences. Illustration: Elizabeth SmelovThe Danish pharmaceutical giant that makes the obesity drug Wegovy said it would temporarily hold back some lower-strength starter doses in the U.S. in an effort to safeguard supplies for current patients amid soaring demand. The Food and Drug Administration cleared Wegovy, made by Novo Nordisk , as a treatment for chronic weight management in 2021. It has since exploded in popularity.

☆ Maersk Earnings Weighed Down by Sharp Drop in Freight Rates and Volumes
▼ + stars: | 2023-05-04 | by ( Costas Paris | Dominic Chopping | ) www.wsj.com time to read: 1 min

The container ship Maersk Batam is loaded in the Port of Southampton, on the south coast of England. Photo: adrian dennis/Agence France-Presse/Getty ImagesA.P. Moller-Maersk on Thursday posted a sharp drop in first-quarter net profit as inventory corrections in Western economies sent shipping demand falling, pushing freight rates and volumes lower. The Danish shipping giant said it expects the destocking effort, the result of an enormous inventory buildup last year that left retailers swamped with goods, to wind down by the end of the second quarter but that trade volumes are still contracting.

☆ Ericsson to Cut 1,400 Jobs as Orders Slow
▼ + stars: | 2023-02-20 | by ( Dominic Chopping | ) www.wsj.com time to read: 1 min

Attendees view a hologram at the Ericsson stand at the MWC Barcelona exhibition. The company last month reported a lower-than-expected quarterly profit. STOCKHOLM— Ericsson AB plans to cut around 1,400 jobs in Sweden as the telecommunications-equipment giant grapples with slowing demand for its 5G gear in markets like the U.S. The cuts are part of an effort the company announced late last year to reduce costs by 9 billion Swedish kronor, equivalent to about $861 million, by the end of 2023 through streamlining processes, closing facilities and using fewer consultants.

☆ Biggest Shipping Companies Signal Global Trade Slowdown
▼ + stars: | 2023-02-08 | by ( Costas Paris | Dominic Chopping | ) www.wsj.com time to read: 1 min

Maersk says it is seeing falling demand for freight shipping from both the U.S. and Europe. A Danish shipping giant on Wednesday became the latest company to showcase how global trade has slowed through the Covid-19 pandemic. Moller-Maersk A/S, one of the world’s largest ocean freight companies, said it expects its earnings could plunge nearly 80% this year amid weakening demand to ship containers.

Moeller-Maersk and Mediterranean Shipping Co. created the so-called 2M alliance in 2015 to help them reduce costs by sharing cargo on major ocean routes. Rivals formed similar partnerships, creating the Ocean Alliance and THE Alliance. Global trade volumes fell 9.5% year over year in November 2022, according to London-based Container Trade Statistics, and global shipping rates have been sliding at a steep pace since early last year. He said the winding down of 2M raised questions over the future of the other two alliances, Ocean Alliance and THE Alliance. So the in-transit issues and all the penalties have pretty much faded away.”Target said in an email that it renegotiates its shipping rates regularly.

☆ Ericsson Warns of Slowing 5G Orders in North America
▼ + stars: | 2023-01-20 | by ( Dominic Chopping | ) www.wsj.com time to read: 1 min

Ericsson Chief Executive Börje Ekholm said he is confident that operators would increase their spending later this year. STOCKHOLM— Ericsson AB reported lower-than-expected quarterly profit and warned it faced an uncertain start to the new year as telecom operators in markets like the U.S. hold off placing new orders for 5G gear amid economic uncertainty. The Swedish telecommunications-equipment company said Friday that the trend started to hurt its key networks unit in the fourth quarter and that it expects it to continue during the first half of 2023.

☆ ‘Angry Birds’ Owner Gets Takeover Bid From Playtika
▼ + stars: | 2023-01-20 | by ( Dominic Chopping | ) www.wsj.com time to read: 1 min

‘Angry Birds’ became a hit with gamers when it was launched in 2009. Rovio Entertainment Oyj said it received a takeover proposal from Israel’s Playtika Holding Corp. for 751 million euros, equivalent to $813.5 million, sending its shares up 38% Friday. Rovio, which helped pioneer the now-booming mobile-gaming industry with its 2009 “Angry Birds“ hit, said the 9.05 euro-a-share bid represented a sweetened offer, following an earlier, undisclosed 8.50 euro bid by Playtika. Playtika specialized in casino-style mobile games before moving into casual games similar to “Angry Birds.“ Rovio said it isn’t engaged in deal talks with Playtika, and said there was no assurance a deal would be reached.

☆ Ocean-Shipping Giant Maersk Names Vincent Clerc as Next CEO
▼ + stars: | 2022-12-12 | by ( Dominic Chopping | ) www.wsj.com time to read: 1 min

Vincent Clerc will become Maersk’s next CEO as the company faces a challenging outlook. Møller-Maersk A/S said Monday that it has appointed Vincent Clerc as its next chief executive, as the company enters a tougher environment with lower freight rates and mounting macroeconomic headwinds. Mr. Clerc, who serves as CEO of Maersk’s Ocean & Logistics business, will assume the new post Jan. 1. Maersk said Mr. Clerc has been with the group for 25 years and has been key in the company’s transformation into an integrated logistics provider.

Search resuls for: "Dominic Chopping"

20 mentions found