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☆ Thousands of Danes protest cancelling of public holiday
▼ + stars: | 2023-02-05 | by ( Johannes Birkebaek | ) www.reuters.com time to read: +2 min

[1/3] People take part in a protest outside of Danish Parliament building in Copenhagen, Denmark, February 5, 2023. REUTERS/Johannes BirkebaekCOPENHAGEN, Feb 5 (Reuters) - Thousands of people gathered in Copenhagen on Sunday to protest a bill put forward by the government to scrap a public holiday to help finance increased defence spending. Unions organising the protest estimated at least 50,000 people took part, which would make it Denmark's biggest demonstration in more than a decade. The government has proposed moving forward by three years to 2030 a goal of meeting a NATO defence spending target of 2% of GDP. It says most of the extra 4.5 billion Danish crowns ($654 million) needed to meet the target could be covered by the higher tax revenues it anticipates from abolishing the holiday.

☆ Danish Crown says Chinese pork demand subdued, set to cut 550 jobs
▼ + stars: | 2023-01-30 | by ( Jacob Gronholt-Pedersen | ) www.reuters.com time to read: +2 min

Chinese pork demand is weak despite relaxation of the country's COVID policies as many people continue to avoid restaurants, said Jais Valeur, the head of Europe's biggest pork producer. "Right now I don't see any signs that Chinese imports are on the rise," Valeur told Reuters in an interview, adding that the Chinese market would probably normalize within six months. Slow Chinese demand has a knock-on effect on the European market. The outbreak of African swine fever in some European countries, including Germany, prompted producers in Spain to boost output aimed at the Chinese market. "All that meat is now flooding the European market, where consumers are now coping with inflation and are worried about the future," Valeur said.

☆ Orsted shares slide on 2023 outlook
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +2 min

Companies Orsted A/S FollowCOPENHAGEN, Jan 20 (Reuters) - Shares in Danish energy company Orsted (ORSTED.CO) tumbled by more than 7% on Friday after announcing a writedown on a large U.S. offshore wind project and an earnings forecast for 2023 that fell short of analyst estimates. Late on Thursday Orsted, the world's biggest offshore wind farm developer, announced a 2.5 billion Danish crown ($366 million) writedown on its Sunrise Wind project off the coast of New York, citing changes to its earnings projections. Orsted expects 2023 earnings before interest, tax, depreciation and amortisation (EBITDA) excluding new partnerships of 20-23 billion crowns, short of the 24.2 billion crowns expected by analysts in a company-compiled consensus. Shares in Orsted were trading 6.6% down by 0937 GMT. Announcing preliminary results for 2022, the company said it expects EBITDA excluding new partnerships at 21.1 billion crowns.

☆ Noma to reinvent Michelin-starred restaurant as new food 'lab'
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +1 min

[1/2] Rene Redzepi, the head chef of Noma in Copenhagen, talks during an interview with Reuters at Noma at Mandarin Oriental Tokyo February 10, 2015. REUTERS/Yuya ShinoCOPENHAGEN, Jan 9 (Reuters) - Noma will close as a full-time restaurant in 2025, with the $505 per head foodie favourite focusing on pop-ups and innovation instead in order to secure a long-term future. "In 2025, our restaurant is transforming into a giant lab - a pioneering test kitchen dedicated to the work of food innovation and the development of new flavors," Noma said in a posting announcing the move on its website. "Our goal is to create a lasting organization dedicated to groundbreaking work in food," said Noma, whose name is a play on the Danish words "nordisk mad", meaning "Nordic food". ($1 = 6.9350 Danish crowns)Reporting by Nikolaj Skydsgaard; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

☆ Key suspect in Danish tax fraud could be extradited from Dubai, Denmark says
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +1 min

OSLO, Dec 29 (Reuters) - The Danish foreign ministry on Thursday said a Dubai court had ruled that the main suspect in a dividend tax fraud case can be extradited to Denmark for prosecution, although the decision will be appealed. Briton Sanjay Shah, who has denied any wrongdoing, is suspected of submitting applications on behalf of investors and companies for payouts from the Danish Treasury worth more than 9 billion Danish crowns ($1.3 billion). Known as "cum-ex", the alleged crime involved a sham trading scheme whereby investors were able to make double tax reclaims. Shah was arrested earlier this year by Dubai police following the request by Danish authorities to extradite him. ($1 = 6.9824 Danish crowns)Reporting by Terje Solsvik; Editing by Elaine Hardcastle and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

☆ Justin Bieber slams H&M "trash" merchandise featuring his image
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +1 min

[1/2] Justin Bieber performs a medley of songs at the 2016 Billboard Awards in Las Vegas, Nevada, U.S., May 22, 2016. REUTERS/Mario Anzuoni/File PhotoCOPENHAGEN, Dec 20 (Reuters) - Pop singer Justin Bieber lashed out at H&M (HMb.ST) over clothes featuring the Canadian artist's image and lyrics, saying the Swedish fashion giant had not obtained his approval. "The H&M merch they made of me is trash and I didn't approve it," Bieber wrote in an Instagram story on Monday, encouraging his 270 million followers not to buy it. "As with all other licensed products and partnerships, H&M followed proper approval procedures," an H&M spokesperson said in a written comment to Reuters. ($1 = 7.0100 Danish crowns)Reporting by Stine Jacobsen, editing by Terje Solsvik and Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Meta halts construction of two data centres in Denmark
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +1 min

Facebook-owner Meta already has two large data centres in Odense, but only one of the three other centres currently under development there will be completed. Last month, Meta said it would cut 11,000 jobs, the first in the company's 18-year history, after disappointing results in several quarters. The company's traditional data centres house servers for apps such as Facebook and Instagram. But the calculations needed for AI require a new generation of data centres, Münster said. Construction on the two halted data centres in Odense began in August.

☆ UK watchdog narrows dividend-stripping investigation
▼ + stars: | 2022-12-15 | by ( Kirstin Ridley | ) www.reuters.com time to read: +6 min

A German court this week sentenced tax lawyer Hanno Berger, alleged to have masterminded one of the country's biggest post-war frauds, to eight years in jail. It is the highest-profile prosecution and longest sentence to date in a series of trials that have also convicted British bankers. Although Britain was not impacted by cum-ex trading, much of the structuring and organising of the scheme took place in London, according to lawyers and authorities, some of whom turned to the country for help unpicking what had happened. It does not have the power to investigate tax fraud, but can investigate civil and criminal market abuse. One warning notice was sent in June 2020 to an unnamed former chief executive, according to a 2021 High Court judgment.

☆ Enzyme makers Novozymes and Chr. Hansen to merge
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +2 min

Copenhagen, Dec 12 (Reuters) - Danish food ingredients and enzymes makers Novozymes (NZYMb.CO) and Chr. While both companies' main business is producing enzymes, Chr. Following an extended opening auction at the Copenhagen blue chip index on Monday morning, shares in Novozymes dropped 7.5%, while Chr. Hansen shares jumped more than 33%. Hansen will receive 1.53 new shares in Novozymes, each nominally worth 2 Danish crowns ($0.2830), for every share in Chr.

☆ Drug maker Novo Nordisk invests $744 mln to expand Danish plant
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +1 min

COPENHAGEN, Nov 22 (Reuters) - Danish drug maker Novo Nordisk (NOVOb.CO) said on Tuesday it plans to invest 5.4 billion Danish crowns ($744.09 million) to expand its existing facilities in Bagsvaerd, Denmark. Novo, the world's biggest producer of diabetes drugs, said the project is expected to be finalised in 2024 and create about 160 new jobs. "This investment in expanding our clinical API capacity in Bagsvaerd is an important step to ensure the continuous progress of our development pipeline," said senior vice president of Chemistry, Manufacturing and Control Development at Novo Nordisk, Jesper Boving. Novo Nordisk currently produces API at two facilities in Denmark and one in Clayton in the United States, a spokesperson told Reuters. ($1 = 7.2572 Danish crowns)Reporting by Rahat Sandhu and Stine Jacobsen, editing by Terje SolsvikOur Standards: The Thomson Reuters Trust Principles.

☆ Danish drug maker Novo Nordisk to invest $744 mln to expand facilities in Bagsvaerd
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: 1 min

Nov 22 (Reuters) - Danish drug maker Novo Nordisk (NOVOb.CO) announced on Tuesday it planned to invest 5.4 billion Danish crowns ($744.09 million) to expand its existing facilities in Bagsvaerd. The investment project is expected to be finalised in 2024 and create about 160 new jobs, the company said in a statement. ($1 = 7.2572 Danish crowns)Reporting by Rahat SandhuOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: The newest fronts in climate-change-related legal battles
▼ + stars: | 2022-11-18 | by ( Clark Mindock | ) www.reuters.com time to read: +6 min

At the COP27 climate talks in Egypt, U.N. experts last week warned that many corporate environmental claims amounted to “empty slogans and hype.” This could embolden campaigners to launch more legal cases against climate-action laggards. The companies have denied the allegations in the lawsuits but have made public promises to work to avoid plastic pollution. The group claims the fossil fuel investments violate the French duty of vigilance law requiring corporations to identify and reduce environmental harms. The group, led by Oxfam France and Friends of the Earth France, called the move an "unprecedented legal action." The lawsuit claims DWS told investors that it invests 0% in controversial sectors such as coal, but elsewhere indicated revenue from the coal industry accounts for as much as 15% of the fund's revenue.

The main active ingredient in Ozempic is semaglutide, which is also the key ingredient in Novo's obesity drug Wegovy. Several less efficacious obesity drugs from multiple drugmakers have previously been approved, but bungled launches and serious side effects led to tepid sales and even some market withdrawals. Novo faces looming competition from Eli Lilly (LLY.N), whose weekly injection Mounjaro won U.S. approval for type 2 diabetes in May and is under fast-track review as a weight-loss drug. Amgen (AMGN.O) also has an early-stage, once-monthly obesity drug that is being keenly watched. Elon Musk, the world's richest person and now Twitter owner, has offered his own endorsement of the weight-loss benefits of semaglutide on the social media website.

☆ Pandora braces for recession despite resilient demand
▼ + stars: | 2022-11-08 | by ( Nikolaj Skydsgaard | ) www.reuters.com time to read: +2 min

REUTERS/Andrew KellySummarySummary Companies Third-quarter sales slightly above expectationsCompany maintains guidanceNo signs of weakening demand yetShares up 6.5%COPENHAGEN, Nov 8 (Reuters) - Danish jewellery maker Pandora (PNDORA.CO) reported third-quarter sales just above expectations on Tuesday and said it is braced for recession even though shopper demand has proven resilient in the face of soaring living costs. "Despite macroeconomic and geopolitical uncertainty, the shopping patterns of our consumers are so far largely unchanged," Chief Executive Alexander Lacik said in a statement. Pandora still expects full-year organic growth between 4% and 6% and reaffirmed an outlook for an operating profit margin at 25-25.5%. The company reported third-quarter sales of 5.26 billion Danish crowns ($712.64 million), slightly above an average of 5.16 billion crowns expected by analysts in a poll by the company. Pandora also announced it would pay a total of 5.3 billion crowns to its shareholders this year, equating to about 13% of its market capitalisation.

☆ Factbox: COP27: Which countries have offered 'loss and damage' funds?
▼ + stars: | 2022-11-08 | by ( Kate Abnett | ) www.reuters.com time to read: +3 min

While vulnerable countries say one-off commitments are no substitute for a fund to provide ongoing support, some praised Scotland's leadership in acknowledging the issue. AUSTRIAAustria will provide at least 50 million euros to tackle loss and damage over the next four years, the government said on Tuesday. IRELANDIrish PM Micheal Martin committion 10 million euros to the "Global Shield" initiative for 2023. Some vulnerable countries say that type of funding does not count as "loss and damage" money, which they say should compensate countries for unavoidable costs from disasters. Wealthy countries already provide funds to help countries adapt to climate change by preparing for worse weather impacts, although this funding has fallen short of promised amounts.

The COP27 climate summit gets underway in Egypt from Nov. 6. Climate Change Conference will see more than 30,000 delegates convene in the Red Sea resort town of Sharm el-Sheikh to discuss collective action on the climate emergency. Loss and damage funding, meanwhile, is recognized by many as the third pillar of international climate policy. Kerry's openness to talks on loss and damage funding marked an abrupt change in tone from just one month earlier. Singh said political mobilization over loss and damage funding makes COP27 the most important COP yet.

☆ Factbox: Companies count the cost of ditching Russia
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +6 min

INDITEX (ITX.MC)Zara owner will book a provision of 216 million euros after agreeing to sell its Russia stores to UAE-based Daher Group. TRATON (8TRA.DE)Volkswagen's (VOWG_p.DE) truck division Traton in September said disposing of some assets in Russia would cause a 550 million euro loss. CREDIT AGRICOLE (CAGR.PA)Credit Agricole provisioned more than 500 million euros related to its Russian exposure in Q1. LINDEThe world's largest industrial gases company's exit from Russia recorded impairments of $993 million from its Russia exit. SIEMENS (SIEGn.DE)The Munich-based engineering and tech firm said in May it would take a 600 million euro hit in Q2 for exiting Russia.

☆ Novo Nordisk sees faster profit growth on demand for diabetes drug Ozempic
▼ + stars: | 2022-11-02 | by ( Ludwig Burger | ) www.reuters.com time to read: +2 min

Nov 2 (Reuters) - Danish drugmaker Novo Nordisk (NOVOb.CO) raised its full-year earnings outlook on strong sales of diabetes treatment Ozempic, also reporting a better-than-expected profit. Nine-month operating profit rose 28% to 57.7 billion Danish crowns ($7.66 billion), above the 56.8 billion forecast by analysts, according to Refinitiv data. It reiterated that it expects to make all doses of weight-loss drug Wegovy, a future growth driver, available in the United States towards the end of 2022, as it seeks to overcome production problems. "The growth is driven by increasing demand for GLP-1-based diabetes treatments, especially Ozempic," CEO Lars Fruergaard Jorgensen said. Novo faces keen competition from Eli Lilly, whose monthly injection Mounjaro won U.S. approval for type 2 diabetes in May and it is under fast-track review as a potential weight-loss drug.

☆ Danske Bank books $1.9 billion provision in Estonia case
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +1 min

COPENHAGEN, Oct 27 (Reuters) - Danske Bank (DANSKE.CO) on Thursday said it would book a 14 billion Danish crowns ($1.89 billion) provision in the third quarter related to the lender's involvement in a money laundering scandal in Estonia. "The discussions with U.S. and Danish authorities related to the Estonia matter are now at a stage where Danske Bank can reliably estimate the total financial impact of a potential coordinated resolution," CEO Carsten Egeriis said. As a consequence, Danske Bank now expects a net loss "better than" 5.5 billion crowns this year, down from a previous forecast for a 10 billion-12 billion crowns net profit. Danske Bank in 2018 booked a separate provision of 1.5 billion crowns. ($1 = 7.3921 Danish crowns)Reporting by Stine Jacobsen and Nikolaj Skydsgaard, editing by Terje SolsvikOur Standards: The Thomson Reuters Trust Principles.

☆ Carlsberg lifts 2022 profit outlook; shares trim losses
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +2 min

COPENHAGEN, Oct 26 (Reuters) - Danish brewer Carlsberg (CARLb.CO) on Wednesday reported third-quarter sales broadly in line with expectations and lifted its profit forecast for the year despite weakening consumer sentiment. Sales in Asia grew 19% in the period, with volumes up 10%, but the firm cautioned that the outlook remained uncertain. Carlsberg's shares were down 2.5% at 1222 GMT, recouping much of its losses in early trading on the weak Heineken outlook. It also increased its share buy-back programme for the fourth quarter to 1.5 billion crowns from 1 billion crowns in the third quarter. The firm, which released the numbers one day earlier than planned, does not provide earnings in its third-quarter trading statements.

☆ Factbox: Government measures to ease inflation pain
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +5 min

In August, the government offered debt relief to former students and unveiled the $430 billion "Inflation Reduction Act". * Canada on Sept. 13 announced a C$4.5 billion ($3.29 billion) relief package. * Poland will spend over 30 billion zlotys ($6.07 billion) to freeze power prices and support companies. * The Czech Republic will cap electricity and gas prices next year. * Croatia will cap electricity prices from Oct. 1 until March.

☆ Denmark to offer energy price support despite central bank warning
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterCOPENHAGEN, Sept 23 (Reuters) - Danish lawmakers on Friday agreed an economic aid package worth 5.05 billion Danish crowns ($664 million) to soften the blow from rocketing energy prices, going against a warning from the central bank. The package included a cut to a levy on power prices and cash handouts to families with young children. Register now for FREE unlimited access to Reuters.com RegisterThe central bank this week warned against cushioning against higher energy prices by cutting levies, since that would result in even higher prices and discourage energy saving. Denmark has previously agreed to provide cash handouts to the elderly and has capped annual rent increases for the next two years to help struggling households. read more($1 = 7.6077 Danish crowns)Register now for FREE unlimited access to Reuters.com RegisterReporting by Jacob Gronholt-Pedersen and Nikolaj Skydsgaard, writing by Stine Jacobsen, editing by Terje Solsvik and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: Europe's efforts to shield households from soaring energy costs
▼ + stars: | 2022-09-02 | by ( Susanna Twidale | ) www.reuters.com time to read: +9 min

Without the measure, average home energy bills were tipped to reach over 3,500 pounds a year in October with forecasts of much higher bills to come. CZECH REPUBLICThe Czech government has agreed to cap electricity and gas prices next year to shield households from soaring prices. ITALYItaly approved an aid package worth some 14 billion euros ($14 billion) in September to shield firms and families from surging energy costs. The measures came on top of some 52 billion euros already budgeted since January to soften the energy crisis in Italy. NORWAYNorway has been subsidising household electricity bills since December and now covers 80% of the portion of power bills above a certain rate.

☆ Europa se confruntă cu stocuri de carne de porc din cauza coronavirusului şi a pestei porcine
▼ + stars: | 2020-11-22 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +3 min

Chiar dacă mulţi alţi producători europeni profită de importurile record de carne de porc ale Chinei, abatoarele din unele ţări se confruntă şi ele cu restricţii la export. Încetinirile provocate de coronavirus au contribuit şi ele la apariţia a sute de mii de porci nevânduţi în fermele din Germania. Max Green, analist la IHS Markit, spune că deşi China "absoarbe cantităţi uriaşe de carne de porc, nu este suficient pentru a susţine preţurile". Uniunea Europeană este cel mai mare exportator de carne de porc. În aceste condiţii, abatoarele din Danemarca sunt nevoite să lucreze şi în weekend, şi să angajeze personal suplimentar, pentru face faţă afluxului de porci, spune Jais Valeur, director general la Danish Crown Group.

Persons: agerpres.ro, Max Green, Rupert Claxton, Analistul, Justin Sherrard Organizations: Uniunea Europeană, Danish Crown Group, american, Agriculturii Locations: Europa, pesta, Germania, UE, Asia, Chinei, China, Germaniei, Danemarca, graniţă, Danish

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