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Secretary of State Antony Blinken announced the opening of the station, in Tromsoe, northern Norway, in June, as a means for the US to have a "diplomatic footprint above the Arctic Circle", he said. Tromsoe is the largest city in Arctic Norway, located about 400km (250 miles) to the west of Russia. Norway and Russia share a border in the Arctic. Tromsoe is also the seat of the Arctic Council, a polar body comprising the eight Arctic states of Russia, the US, Canada, Finland, Norway, Iceland, Sweden and Denmark. Cooperation within the Arctic Council between Moscow and the Western Arctic states was put on hold after Russia's invasion of Ukraine in February 2022.
Persons: Antony Blinken, Andreas Oesthagen, Washington, Tromsoe, Gwladys Fouche, Terje Solsvik, Deborah Kyvrikosaios Organizations: Fridtjof Nansen Institute, Reuters, Arctic Council, Cooperation Locations: Fouche OSLO, United States, Washington, Ukraine, Tromsoe, Norway, Oslo, Arctic Norway, Russia, Canada, Finland, Iceland, Sweden, Denmark, Moscow
Europe’s oil majors are stuck as M&A party-poopers
  + stars: | 2023-10-26 | by ( Yawen Chen | ) www.reuters.com   time to read: +4 min
Oil pump jack is seen in front of displayed U.S. dollar banknote and decreasing stock graph in this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsLONDON, Oct 26 (Reuters Breakingviews) - Back in June the boss of $220 billion UK oil major Shell (SHEL.L), Wael Sawan, told investors mergers and acquisitions were not his priority. The decision of $430 billion Exxon Mobil (XOM.N) and $295 billion Chevron (CVX.N) to acquire $60 billion Pioneer Natural Resources (PXD.N) and $53 billion Hess (HES.N) respectively ought to change the game. But it would remain a stretch for either to ape their U.S. peers and buy a big oil group. Hess investors will receive 1.025 shares of Chevron for each share held, worth $171 per share based on the closing price on Oct. 20.
Persons: Dado Ruvic, Wael Sawan, Hess, Murray Auchincloss, Patrick Pouyanné, , Shell, Neste, Warren Buffett’s, Pouyanné, George Hay, Streisand Neto Organizations: REUTERS, Reuters, Exxon Mobil, Chevron, Natural Resources, Exxon, Shell, Occidental Petroleum, Exxon Mobil’s, Thomson Locations: Finnish, Denmark, U.S, Occidental
Ukrainian fighter pilots learning to fly the F-16 could soon make the jump to real combat aircraft. The F-16 flies a bit different from the fighter aircraft they know, namely MiG-29s and Su-27s. AdvertisementAdvertisementTwo U.S. Air Force F-16 Fighting Falcon aircraft sits parked on flight line at MacDill Air Force Base, Sept. 8, 2021. US Air Force photo by Airman 1st Class Lauren CobinSimulator training will help ease the transition with these potential differences, but getting up to speed in an actual plane still takes time. Training has been ongoing at the Danish military air base in Skrydstrup and in the US at Lackland Air Force Base in Texas and Morris Air National Guard Base in Arizona.
Persons: , Ukraine's, Yuriy Ihnat, Ihnat, Mike, Torrealday, Efrem, Julianne Showalter, you'd, Lockheed Martin, Lauren Organizations: MiG, Service, US Air Force Reserve, Ukrainian Air Force, National Museum of, United States Air Force US Air Force, Soviet, Air Force, General Dynamics, . Air Force, Falcon, MacDill Air Force Base, US Air Force, US, Lackland Air Force Base, Morris Air National Guard Base Locations: American, Ukrainian, Kyiv, Soviet, Iraq, Poland, Romania, Denmark, United States, Skrydstrup, Texas, Arizona, Ukraine
“The welfare society is fundamentally a community, which is based on a mutual trust that we all contribute,” Denmark’s prime minister, Mette Frederiksen, said in March at a summit of the country’s municipalities. That means more than 4,000 public housing units will need to be emptied or torn down. The decision of which housing remains public will be made by local governments and housing associations. The residents displaced are offered alternative public housing options in other buildings or neighborhoods. From the beginning, the program’s targeting of communities largely based on the presence of non-Western immigrants or their descendants has attracted widespread criticism.
Persons: Mette Frederiksen, Vollsmose Locations: country’s
It feels like a city, but it's small enough that everything is still accessibleIn 2018, I married my Danish husband and moved from Dallas, Texas to Copenhagen, Denmark. American grocery stores have a wide variety of ingredients and interesting foods. In Denmark, grocery stores tend to be smaller and offer a limited selection. But I still convert prices from the Danish kroner to the dollar pretty often. But in Copenhagen, they're often delivered to pickup points in grocery stores, convenience stores, or other public locations.
Persons: I've, Ilana, Ilana Buhl, Joe's, Annie's, they're Organizations: Central Market, Foods Locations: Copenhagen, Dallas , Texas, Denmark, U.S, Texas, Mexico, Danish, Amazon.de
Magnus Mæland, the municipality mayor, then angrily removed the Russian wreath — only to have a woman, described by Norwegian public broadcaster NRK as being Russian, put it back. In 2019, on the 75th anniversary, Russia’s Foreign Minister Sergei Lavrov laid wreaths at the monument and stood side-by-side with Norway’s foreign minister. On Saturday, Konygin gave a speech at the war memorial in the same Norwegian border town. Visiting locals from the Russian border town of Nikel faced the diplomat while residents from Kirkenes silently turned their back to him, according to the online outlet the Barents Observer. Locals had already placed a wreath at the monument before Konygin arrived, with the text “to our Ukrainian heroes from 1944 and 2022," according to the Barents Observer.
Persons: Magnus Mæland, ” Mæland, Marit Bjerkeng, Harald Sunde, Sergei Lavrov, Nikolai Konygin, Konygin Organizations: NRK, Russia’s, Observer, Locals, Barents Observer, Soviet Union Locations: COPENHAGEN, Denmark, Russian, Kirkenes, Norway, Soviet, Norwegian, Russia, Ukraine, Nazi Germany, Nikel
ATP roundup: Top seed Holger Rune rallies in Basel
  + stars: | 2023-10-25 | by ( ) www.reuters.com   time to read: +2 min
1 seed Holger Rune of Denmark bounced back from a rough first set to beat Serbia's Miomir Kecmanovic 1-6, 7-5, 6-3 in first-round action at the Swiss Indoors Basel on Tuesday. Rune overcame four double faults and 15 unforced errors by winning 30 of his 43 first-service points (69.8 percent). 4 seed Hubert Hurkacz of Poland beat Serbia's Dusan Lajovic 7-6 (2), 6-3, while fifth seed Alex de Minaur of Australia beat Diego Schwartzman of Argentina 6-4, 6-4. 4 seed Stefanos Tsitsipas of Greece beat home-country favorite Dominic Thiem 7-6 (5), 6-4 in the first round in Vienna, Austria. 3 seed Andrey Rublev of Russia defeated Australia's Alexei Popyrin 7-6 (5), 6-4, and American sixth seed Tommy Paul took care of Frenchman Alexandre Muller 6-3, 6-1.
Persons: Holger Rune, Brandon Nakashima, Aly, Denmark, Serbia's, Rune, Hubert Hurkacz, Serbia's Dusan Lajovic, Alex de Minaur, Diego Schwartzman, Nicolas Jarry of, Frenchman Adrian Mannarino, Tallon Griekspoor, Russian Alexander Shevchenko, Dominic Stricker, Dominic Thiem, Tsitsipas, Andrey Rublev, Australia's Alexei Popyrin, Tommy Paul, Frenchman Alexandre Muller, Frances Tiafoe, Daniel Evans of Great, Grigor Dimitrov of, Tomas Machac, Lorenzo Sonego Organizations: Shanghai, Sports City Arena, U.S, REUTERS, Swiss, Basel, Australia, Erste Bank, Russia, Thomson Locations: Shanghai, China, Poland, Argentina, Nicolas Jarry of Chile, Netherlands, Russian, Swiss, Greece, Vienna, Austria, American, U.S, Daniel Evans of Great Britain, Grigor Dimitrov of Bulgaria, Czech
I wanted to raise my children in EuropeOwens, her husband, Shawn, and their three children. I brought my kids outside all the time even before we got here. I feel safe enough to leave my kids outside when I go run into a convenience store or a bakery. If you want to do Amazon, you can do Amazon Germany, but it's more expensive to ship from there to here. Ellie OwensIf you are okay with living outside the city and commuting in, you can find a lot cheaper housing.
Persons: Ellie Owens, , Shawn, he'd, Europe Owens, he's, They're, I've, Owens, it's, We're Organizations: Service Locations: Denmark, Copenhagen, Ridgefield , Connecticut, New York, Detroit , Michigan, Bremen, Germany, Europe, Swedish
Perez to feel the love even if the dream is dashed
  + stars: | 2023-10-25 | by ( Alan Baldwin | ) www.reuters.com   time to read: +3 min
"I don't think Max is going to get the warmest reception in Mexico," commented team boss Christian Horner after Verstappen won to boos in Austin last Sunday. Perez, with 'Never Give Up' prominent on a specially-designed helmet for the occasion, remains positive despite a run of poor form. Perez, a winner twice this year, has been off the podium in his previous four outings and beaten by Verstappen in the last 14. Verstappen has won four of the last five Mexican Grands Prix while Perez has been third in the last two. Denmark's Frederik Vesti will take George Russell's Mercedes and Britain's Oliver Bearman replaces Kevin Magnussen at Haas for FP1.
Persons: Sergio Perez, Greenlee Beal, Bull, Max Verstappen, Mexico City's Autodromo Hermanos Rodriguez, Max, Christian Horner, Verstappen, Austin, Perez, Alain Prost, McLaren's Lando Norris, German Nick Heidfeld, Norris, Lewis Hamilton, Hamilton, Jack Doohan, Mick, Isack Hadjar, Theo Pourchaire, Denmark's Frederik Vesti, George Russell's Mercedes, Britain's Oliver Bearman, Kevin Magnussen, Haas, Alan Baldwin, Ed Osmond Organizations: United, Prix, Mexico City's Autodromo Hermanos, Verstappen, Grands Prix, Alpine, FP1, Thomson Locations: United States, Americas, Austin , Texas, U.S, Mexican, Mexico, German, Austin, London
By Francois MurphyVIENNA (Reuters) - Racism towards Black people is growing in Europe, with Germany, Austria and Finland showing the highest rates of discrimination and harassment, a survey of first- and second-generation Black immigrants in 13 EU countries published on Wednesday found. In Austria and Germany the proportion was 64% - almost twice the previous level of 33% in Germany and a significant increase from the 42% recorded in Austria six years earlier. "It is shocking to see no improvement since our last survey," FRA Director Michael O'Flaherty said. The highest national rate was 54% in Germany, followed by Finland and Austria. The FRA report included a series of recommendations for EU member states such as properly enforcing anti-discrimination legislation and considering a motivation based on racial bias as an aggravating circumstance when setting penalties for crimes.
Persons: Francois Murphy VIENNA, Michael O'Flaherty, Ipsos, Francois Murphy, Aurora Ellis Organizations: European Union Agency for Fundamental Rights, FRA Locations: Europe, Germany, Austria, Finland, Saharan Africa, Belgium, Denmark, France, Ireland, Italy, Luxembourg, Poland, Portugal, Spain, Sweden
For every two U.S. consumer staples stocks that hedge funds have shorted, they have bought one, Goldman Sachs said. U.S. companies ranging from supermarkets to beer have been under pressure on concerns about the impact of weight-loss drugs like Ozempic, Wegovy and Mounjaro. Shares in the U.S. consumer staples sector (.SPLRCS) are down roughly 8% this year, which some investors see as an overreaction to the new weight-loss drugs. "Consumer staples has been ignored and beaten up," said Bryant VanCronkhite, equities senior portfolio manager at Allspring Global Investments LLC. PORTFOLIO ROTATIONEuropean hedge funds have bought defensive stocks in October, while selling cyclicals, according to Goldman Sachs.
Persons: Goldman Sachs, Bryant, Carolina Mandl, Sharon Singleton, Leslie Adler Organizations: Allspring Global Investments, Thomson Locations: Europe, U.S, Israel, United States, Norway, Denmark, Germany, defensives, New York
VIENNA, Oct 25 (Reuters) - Racism towards Black people is growing in Europe, with Germany, Austria and Finland showing the highest rates of discrimination and harassment, a survey of first- and second-generation Black immigrants in 13 EU countries published on Wednesday found. In Austria and Germany the proportion was 64% - almost twice the previous level of 33% in Germany and a significant increase from the 42% recorded in Austria six years earlier. "It is shocking to see no improvement since our last survey," FRA Director Michael O'Flaherty said. The highest national rate was 54% in Germany, followed by Finland and Austria. The FRA report included a series of recommendations for EU member states such as properly enforcing anti-discrimination legislation and considering a motivation based on racial bias as an aggravating circumstance when setting penalties for crimes.
Persons: Michael O'Flaherty, Ipsos, Francois Murphy, Aurora Ellis Organizations: European Union Agency for Fundamental Rights, FRA, Thomson Locations: VIENNA, Europe, Germany, Austria, Finland, Saharan Africa, Belgium, Denmark, France, Ireland, Italy, Luxembourg, Poland, Portugal, Spain, Sweden
Saudi mega-city NEOM sets up $10 bln JV with Denmark's DSV
  + stars: | 2023-10-24 | by ( ) www.reuters.com   time to read: +1 min
General view of NEOM in northwestern Saudi Arabia, January 11, 2021. REUTERS/Hamad I Mohammed/File photo Acquire Licensing RightsDUBAI, Oct 24 (Reuters) - Saudi Arabia's $500 billion flagship project NEOM on Tuesday set up a $10 billion joint venture (JV) with Denmark's DSV (DSV.CO), the world's third-largest freight forwarder, they said in a joint statement. "The partnership will focus on providing logistics services for NEOM in the coming years," the statement said, adding NEOM will hold 51% of the joint venture and DSV 49%. "The joint venture will provide end-to-end supply chain management, development and investments in transport and logistics assets and infrastructure as well as transport and delivery of goods and materials within NEOM," the companies said. The kingdom's sovereign wealth fund, the Public Investment Fund, is the cornerstone investor in NEOM, a 26,500-square-km (10,230-square-mile) high-tech development on the Red Sea.
Persons: Hamad I Mohammed, Saudi Arabia's Crown Prince Mohammed bin Salman, Yousef Saba, Jason Neely Organizations: REUTERS, Rights, Denmark's, Saudi Arabia's Crown, NEOM, Public Investment Fund, Thomson Locations: Saudi Arabia, Rights DUBAI, Saudi, NEOM
The announcement, which the state billed as the nation's largest ever investment in offshore wind, comes less than two weeks after New York regulators rejected requests by three offshore wind developers to renegotiate their contracts because of soaring costs. In response, Governor Kathy Hochul pledged to support renewable energy projects to meet the state's climate change goals. The Biden administration, which has made offshore wind development a cornerstone of its plan to decarbonize the nation's power grid, applauded the move. New York is also committing $300 million to the development of offshore wind component manufacturing facilities planned by GE Vernova (GE.N). New York Offshore Wind Alliance Director Fred Zalcman said the announcement "will go a long way towards instilling confidence in a market that has recently faced tremendous headwinds."
Persons: Kathy Hochul, France's TotalEnergies, Germany's, Hochul, Biden, John Podesta, Fred Zalcman, Nichola Groom, Bill Berkrot, Jonathan Oatis Organizations: New York, Denmark's, Denmark's Copenhagen Infrastructure Partners, White House, Power, Corio, Grid, Excelsior, GE Vernova, Offshore Wind Alliance, Thomson Locations: New, York, Denmark's Copenhagen, New York, America, RWE, . New
Two cargo ships collided in the North Sea in the early hours of Tuesday morning, sinking one vessel and leaving at least one mariner dead, the authorities said. Two crew members from British cargo vessel Verity were rescued during an extensive operation that included German Maritime Search and Rescue Service and police vessels, aircraft and a cruise ship. Teams were still searching for four people presumed to have been in the 60-degree water since early Tuesday. The collision occurred at around 5 a.m. 14 miles southwest of Heligoland, a tiny rocky island situated north of Germany and west of Denmark. The site of the incident is one of the busiest stretches of water in the world, according to the German authorities.
Persons: Verity Organizations: Rescue Service Locations: Heligoland, Germany, Denmark, Poland, Bahamas, Europe
And then you overlay on top of that the emergence of two or three brand new secular growth themes," he said. CNBC Pro takes a look at the stocks he likes in three "brand new" areas of growth: obesity drugs, reshoring and artificial intelligence. Reshoring infrastructure Ayer sees bright spots in the reshoring theme too. The portfolio manager named tech giant Amazon as a good play of the AI wave. The way Ayer sees it, more companies in the U.S. are foraying into AI right now, compared to those in other parts of the world.
Persons: Sanjay Ayer, Ayer, He's bullish, , Christina Cheddar Berk, Carmen Reinicke, Julie Coleman Organizations: CNBC Pro, WCM Investment Management, Equity Fund, Nordisk, Novo Nordisk, U.S . Food, Drug Administration, Tetra Tech, Canadian, Canadian Pacific, U.S Locations: U.S, China, Japan, India
ITTAI GRADEL, an academic–turned–gem dealer in Denmark, was trawling eBay a decade ago when he thought he had stumbled across a gold mine. On his screen, Gradel saw a seller called Sultan1966 advertising a glass gem from the 19th century. Gradel immediately recognized it as something much more valuable: an agate Roman Medusa cameo from the second century, featuring the mythical Gorgon with snakes as hair. He snapped it up for £15 plus postage, then turned around and sold it to a collector for a couple of thousand pounds.
Persons: ITTAI GRADEL, , Gradel Organizations: eBay Locations: Denmark
Retirement income systems vary in different countries, and the U.S. does not come out on top. The additional concerns make one thing even more important: retirement income systems. They have some of the strongest retirement systems, according to the Mercer CFA Institute Global Pension Index for 2023, which was published Tuesday. A total of 47 different retirement systems were assessed in the report. Retirement systems in the latter have "major weaknesses," the report said.
Organizations: Mercer CFA, Global, U.S Locations: U.S, Netherlands, Iceland, Denmark, Israel, Kazakhstan, Colombia, France, Spain, Canada , New Zealand, Germany, Mexico, Indonesia, South Africa, Thailand, Turkey, India, Philippines, Argentina
The first Ukrainian F-16 pilots-in-training are in the process of moving from simulators to the real thing. Ukraine's Air Force spokesperson Yuriy Ihnat announced this on Sunday, per local media. There's still a long path to getting the aircraft into Ukrainian skies in the war with Russia, however. AdvertisementAdvertisementUkraine's F-16 pilots are in the process of moving from using flight simulators to training in real combat aircraft — another development in allowing the US-made fighter jets to be used against Russia's air force. "We're currently in the process of transitioning to combat aircraft," he added, per the outlet.
Persons: Yuriy Ihnat, , We're, Chris Panella, Jake Epstein Organizations: Ukraine's Air Force, Service, Air Force, New, Reuters, US Air Force's, Politico Locations: Ukrainian, Russia, Ukraine, Denmark, Tucson , Arizona
A 0.25 mg injection pen of Novo Nordisk's weight-loss drug Wegovy is shown in this photo illustration in Oslo, Norway, September 1, 2023. REUTERS/Victoria Klesty/Illustration/File Photo Acquire Licensing RightsLONDON/NEW YORK, Oct 23 (Reuters) - The growth in demand for appetite suppressing anti-obesity drugs like Novo Nordisk's (NOVOb.CO) Wegovy presents opportunities for food manufacturers and the market's initially downbeat reaction may be overdone, investors say. Still, the stock market impact left some food manufacturers "trembling," said John Plassard, senior investment specialist at Nestle investor Mirabaud Group. The uptake in appetite suppressing drugs seems to be a U.S.-led dynamic, said My Nguyen, research analyst at Legal & General Investment Management America. "Elsewhere, trends such as wealthier, more mobile middle classes in emerging countries can support shifts towards snacking and convenience foods."
Persons: Victoria Klesty, Richard Saldanha, Wegovy, Kiran Aziz, Mark Schneider, John Plassard, Brian Frank, Frank, Nguyen, Richa Naidu, Matt Scuffham, Kirsten Donovan Organizations: REUTERS, Walmart, Nestle, Aviva, Novo Nordisk, EY, Industry, Health Sciences, Wellness, Mirabaud, Tyson Foods, Arcos Dorados, Legal, General Investment Management America, Germany's, Investments, Unilever, Coca Cola, Thomson Locations: Oslo, Norway, Victoria, United States, Denmark, Germany, Arda, Ural, U.S
A recent paper published by the American Enterprise Institute revealed that the net prices for the new obesity drugs are just a fraction of the published annual list prices. And while the drugs’ prices remain out of reach for many, economists anticipate they will soon be driven down. More than a dozen companies are developing obesity drugs. As they enter the market, greater choice is expected to make prices plummet, as has happened with other expensive drugs. Those revenues are based on the net prices.
Persons: , Jalpa Doshi, Ippolito, Joseph F, Levy Organizations: American Enterprise Institute, University of Pennsylvania, Investors, Novo Nordisk, Johns Hopkins Bloomberg School of Public Health, Health Locations: Denmark, Novo
[1/2] Barrels are seen at the museum of the Baltika brewery in St. Petersburg, October 12, 2014. REUTERS/Alexander Demianchuk/File Photo Acquire Licensing RightsMOSCOW, Oct 20 (Reuters) - A court in St Petersburg has imposed unspecified "interim measures" against Carlsberg (CARLb.CO) in favour of Baltika Breweries, court filings showed, after the Danish brewer stopped licensing its brands in Russia this month. The court filings provided no information other than that interim measures had been granted in a lawsuit filed on Oct. 17 by Baltika against Carlsberg. In another lawsuit filed on Sept. 25, before Carlsberg terminated the licence agreements, Baltika had asked a Russian court to prohibit Carlsberg from initiating legal proceedings in Denmark, citing the risk that Carlsberg could seek to remove Baltika's right to use certain trademarks. The court did not grant interim measures, but a hearing in that case is scheduled for Nov. 15.
Persons: Alexander Demianchuk, Vladimir Putin, Baltika, Alexander Marrow, Kevin Liffey Organizations: REUTERS, Rights, Carlsberg, Baltika Breweries, Carlsberg Group, Baltika, Reuters, Thomson Locations: St . Petersburg, St Petersburg, Danish, Russia, Russian, Ukraine, Denmark
COPENHAGEN, Denmark (AP) — Gale-force winds and floods struck several countries in Northern Europe as the region braced for more heavy rain on Friday. In Scotland, at least two people were reported dead and authorities searched for a man thought to be trapped in his vehicle. On Friday, the Met Office issued a new “red” warning for parts of eastern Scotland for further flooding throughout Saturday. Water levels were expected to begin dropping again on Saturday morning, Swedish meteorologists said. On Germany’s North Sea coast, the high winds had the opposite effect to the flooding on the Baltic coast, pushing the water further out and leading to very low water levels.
Persons: — Gale, van, , Scotland’s, Humza Yousaf, , Skanetrafiken, ” Skanetrafiken, Pan Pylas, Geir Moulson Organizations: Met Office, Met, Danish Meteorological Institute, ” Police, Denmark —, Bergens Tidende, Swedish Transportation Authority, Ferries, Associated Press Locations: COPENHAGEN, Denmark, Northern Europe, Scotland, Denmark's Jutland, Danish, Baltic, Sweden, Norway, Germany, Angus, Marykirk, Brechin, England, Norway’s, Ferries, Flensburg, Kiel, Wismar, Gedser, Rostock, London, Berlin
Former architect and tour guide Peter Sekules poses for a photo at the Sydney Opera House in Sydney, Australia September 29, 2023. REUTERS/Alasdair Pal/File Photo Acquire Licensing RightsSYDNEY, Oct 20 (Reuters) - Sydney Opera House celebrated its 50th birthday on Friday, with a laser show planned to illuminate the iconic building. Officially opened by Queen Elizabeth II on 20 October 1973, the Opera House is widely regarded as one of the greatest architectural designs of the 20th century, with 10.9 million people visiting every year. As part of the 1956 Opera House international design competition, 233 designs were submitted by architects from around the world with Jorn Utzon from Denmark chosen as the winner. The Sydney Opera House was added to UNESCO's World Heritage List in 2007.
Persons: Peter Sekules, Alasdair Pal, Queen Elizabeth II, Robin Fox, Anthony Albanese, Jorn Utzon, Construction, Utzon, Lincoln Organizations: Sydney Opera House, REUTERS, Rights, Opera, Sydney Opera, Thomson Locations: Sydney, Australia, Australian, Denmark
Kit Kat chocolate-covered wafer bars manufactured by Nestle are seen in London, Britain, July 25, 2018. REUTERS/Hannah McKay/File Photo Acquire Licensing RightsLONDON, Oct 19 (Reuters) - Nestle (NESN.S) on Thursday said it has started work on products to "companion" weight loss drugs like Novo Nordisk's (NOVOb.CO) game-changing Wegovy, hoping to cash in on their growing popularity. "We're working already on a wide range of products that could serve as companion products," Schneider said during an earnings briefing, noting that some supplements can help with the "loss of lean muscle mass" and "rapid regain of weight". "The largest parts of our portfolio will not be affected" by this new breed of weight loss drugs, he said. Wegovy has been shown to help patients reduce body weight by around 15% when used along with exercise and lifestyle changes.
Persons: Kat, Hannah McKay, Mark Schneider, Nestle, Schneider, Wegovy, Richa Naidu, Christopher Cushing Organizations: Nestle, REUTERS, Walmart, Thomson Locations: London, Britain, Swiss, United States, Norway, Denmark, Germany
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