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☆ Israel Releases Footage of Tunnels at Gaza’s Largest Hospital
▼ + stars: | 2023-11-16 | by ( Sune Engel Rasmussen | Dov Lieber | ) www.wsj.com time to read: 1 min

The Israeli military released footage of a tunnel opening from within the largest hospital in Gaza on Thursday, the first evidence to support its claims that Hamas’s vast tunnel network runs underneath the medical facility. With pressure mounting on Israel to show proof to justify sending troops into the Al-Shifa Hospital, Israel said it was still in the process of combing through the complex. Hamas has denied the claims that it has used the medical facility as a command center and has requested that the hospital be reviewed by international organizations.

Persons: Israel Organizations: Al, Shifa, Hamas Locations: Gaza, Israel

☆ Elon Musk denies report of potential Starlink IPO in 2024
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +1 min

[1/2] SpaceX Starlink 5 satellites are pictured in the sky seen from Svendborg on South Funen, Denmark April 21, 2020. Ritzau Scanpix/Mads Claus Rasmussen via REUTERS Acquire Licensing RightsNov 15 (Reuters) - Elon Musk on Wednesday denied a report that his rocket company SpaceX was discussing an initial public offering (IPO) for its satellite internet business, Starlink, as soon as 2024. The billionaire entrepreneur has previously said he intended to list Starlink when revenue growth and cash flow became smooth and predictable. The Starlink unit is the world's largest satellite operator. "I believe he (Musk) will take Starlink out, not next year, but maybe 2025, 2026.

Persons: Ritzau Scanpix, Mads Claus Rasmussen, Elon Musk, Starlink, Jeff Bezos, He's, Justus Parmar, Parmar, Niket Nishant, Akash Sriram, Anil D'Silva, Arun Koyyur Organizations: SpaceX, REUTERS Acquire, Bloomberg, Fortuna Investments, Thomson Locations: Svendborg, South Funen, Denmark, Mexico, Bengaluru

☆ Orsted's finance and operations chiefs out after big losses
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +3 min

The offshore wind industry has found itself in a perfect storm of rising inflation, interest rate hikes and delays in the supply chain struggling to cope with growing demand. Orsted, the world's largest offshore wind developer, on Nov. 1 scrapped two U.S. offshore wind projects, flagging $5.6 billion in related impairments after delays, partly due to vessel availability, meant costs soared. "Together with the finance team and the group executive team, Rasmus Errboe will lead the work on supporting Orsted's capital structure and long-term commitment to its credit rating," the company said. Board member Andrew Brown, who has executive experience from Shell and Portugal's Galp, was appointed interim COO, Orsted said. The company said contracts it had signed for its U.S. offshore wind projects were secured recently and were therefore more reflective of current costs.

Persons: Tom Little, Rasmus Errboe, Andrew Brown, Daniel Lerup, Richard Hunter, Orsted, Mads Nipper, Nipper, Essi Lehto, Susanna Twidale, Louise Rasmussen, Mark Potter Organizations: REUTERS, Shell, RWE, Thomson Locations: Nysted, Denmark, HELSINKI

☆ Iceland shields geothermal plant from risk of volcanic eruption
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +2 min

[1/3] Streetworks continue, after cracks emerged on a road due to volcanic activity near Grindavik, Iceland obtained by Reuters on November 14, 2023. Iceland's Justice Minister Gudrun Hafsteinsdottir told state broadcaster RUV that a large dike has been designed to protect the Svartsengi geothermal power plant, located just over six kilometers from Grindavik. A spokesperson for HS Orka, operator of the power plant, told Reuters that the plant supplies power to the entire country although a disruption would not impact power supply to the capital Reykjavik. Seismic activity in southwestern Iceland decreased in size and intensity on Monday, but the risk of a volcanic eruption remained significant, the Icelandic Meteorological Office said in a statement. As of late Monday evening, the volcanic hazard assessment in and around Grindavik was unchanged from Sunday.

Persons: Gudrun Hafsteinsdottir, Louise Breusch Rasmussen, Johannes Gotfredsen, Jacob Gronholt, Pedersen, Christina Fincher Organizations: Reuters, Administration, Facebook, REUTERS Acquire, Rights, Iceland's, RUV, HS, Icelandic Meteorological Office, Thomson Locations: Grindavik, Iceland, Reykjavik, Icelandic

☆ Risk of volcanic eruption in Iceland remains high
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +3 min

COPENHAGEN, Nov 13 (Reuters) - Seismic activity in southwestern Iceland decreased in size and intensity on Monday, but the risk of a volcanic eruption remained significant, authorities said, after earthquakes and evidence of magma spreading underground in recent weeks. Thorvaldur Thordarson, professor in vulcanology at the University of Iceland, said most recent data indicated a smaller risk of an eruption in the area around the town of Grindavik. [1/5]A view of cracks, emerged on a road due to volcanic activity, near Grindavik, Iceland November 13, 2023. Volcanic activity in the area continued for six months that year, prompting thousands of Icelanders and tourists to visit the scene. In August 2022, a three-week eruption happened in the same area, followed by another in July of this year.

Persons: Matthew James Roberts, Thorvaldur Thordarson, Grindavik, Hans Vera, Vera, It's, Louise Rasmussen, Tom Little, Jacob Gronholt, Pedersen, Johannes Birkebaek, Ilze, Essi, Alex Richardson Organizations: Icelandic Meteorological, University of, Administration, Facebook, REUTERS Acquire, Thomson Locations: COPENHAGEN, Iceland, Reykjavik, vulcanology, University of Iceland, Grindavik, Belgian, Copenhagen, Stockholm, Helsinki

☆ Iceland evacuates town over concerns of volcanic eruption
▼ + stars: | 2023-11-11 | by ( ) www.reuters.com time to read: +2 min

Lava spurts and flows after the eruption of a volcano in the Reykjanes Peninsula, Iceland, July 12, 2023, as seen in this handout picture taken from a Coast Guard helicopter. Civil Protection of Iceland/Handout via REUTERS Acquire Licensing RightsCOPENHAGEN, Nov 11 (Reuters) - Icelandic authorities have completed the evacuation of 3,000 residents of a town in the southwest of the island over concerns of a volcanic eruption after a series of earthquakes and evidence of magma spreading underground. The chance of an eruption has increased significantly," Thorvaldur Thordarson, professor of volcanology at the University of Iceland, told state broadcaster RUV. Reykjanes is a volcanic and seismic hot spot southwest of the capital Reykjavik. In August 2022, a three-week eruption happened in the same area, followed by another in July of this year.

Persons: Thordarson, Jacob Gronholt, Pedersen, Louise Rasmussen, David Holmes, Christina Fincher Organizations: Coast Guard, REUTERS Acquire, Rights, Icelandic Meteorological, University of Iceland, RUV, Civil Protection Agency, Thomson Locations: Iceland, Handout, Grindavik, Reykjavik, Copenhagen

☆ Altcoins are finally joining the current bitcoin rally as crypto investors turn risk-on
▼ + stars: | 2023-11-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Altcoins were in rally mode this week after lagging bitcoin in its recent climb to new 2023 highs. Bitcoin and ether have been separate from this trend recently, with more investors appearing to treat them as a safety trade compared to smaller, riskier altcoins. "Historically we've seen bitcoin rally, then Ethereum, then alts, and that pattern seems to be repeating as this bull market heats up," he said. "We see as a more likely scenario existing capital shifting from existing bitcoin products such as the Grayscale bitcoin trust, bitcoin futures ETFs and publicly listed bitcoin mining companies, into the newly-approved spot bitcoin ETFs," he said. He also said that bitcoin ETFs already exist in Canada and Europe but haven't garnered much interest from investors since their inception.

Persons: Altcoins, bitcoin, Polygon's, Bitcoin, Rob Ginsberg, Ginsberg, altcoins, – it's, It's, Ryan Rasmussen, Mike Novogratz, JPMorgan's Nikolaos Panigirtzoglou, haven't, Panigirtzoglou, — CNBC's Michael Bloom Organizations: Solana, ADA, ETH, Wolfe Research, Treasury, Bitwise Asset Management, Galaxy Digital, JPMorgan Locations: Canada, Europe

☆ Cole Caufield lifts Canadiens past Red Wings in OT
▼ + stars: | 2023-11-10 | by ( Field Level Media | ) www.reuters.com time to read: +2 min

[1/36] Nov 9, 2023; Detroit, Michigan, USA; Montreal Canadiens defenseman Mike Matheson (8) is congratulated by teammates after scoring in the first period against the Detroit Red Wings at Little Caesars Arena. Mandatory Credit: Rick Osentoski-USA TODAY Sports Acquire Licensing RightsNovember 10 - Cole Caufield scored with 44 seconds remaining in overtime to give the visiting Montreal Canadiens a 3-2 win over the Detroit Red Wings on Thursday night. Christian Fischer scored his first goal of the season for the Red Wings. Montreal converted on 2 of 5 power play chances while the Red Wings came up empty on four power plays. Detroit knotted the score with 3:16 left in the period when the puck deflected off Fischer's body and past Primeau.

Persons: Mike Matheson, Rick Osentoski, Cole Caufield, Nick Suzuki, Matheson, Cayden Primeau, Christian Fischer, Compher, James Reimer, Reimer, Caufield, Alex Newhook, Michael Rasmussen, Ben Chiarot, Dylan Larkin, Suzuki, Sean Monahan, Primeau Organizations: Montreal Canadiens, Detroit Red Wings, Little Caesars Arena, Canadiens, Red Wings, Montreal, Detroit, Wings, Thomson Locations: Detroit , Michigan, USA, Detroit

☆ NHL roundup: Coyotes' Connor Ingram stops Kraken in SO
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +5 min

[1/4] Nov 7, 2023; Tempe, Arizona, USA; Arizona Coyotes goaltender Connor Ingram (39) makes a save on Seattle Kraken defenseman Adam Larsson (6) in the overtime at Mullett Arena. Eeli Tolvanen had a goal and an assist for Seattle, and Justin Schultz and Jaden Schwartz also tallied goals. It was the second overtime winner at home this season for Necas. Panarin finished with his seventh multi-point game this season as the Rangers improved to 7-0-1 in their past eight games. Jets 5, Blues 2Kyle Connor scored two goals and added an assist as visiting Winnipeg defeated St. Louis.

Persons: Connor Ingram, Adam Larsson, Matt Kartozian, Clayton Keller, Nick Schmaltz, Matias Maccelli, Barrett Hayton, Nick Bjugstad, Eeli Tolvanen, Justin Schultz, Jaden Schwartz, Matty Beniers, Joey Daccord, Bjugstad, Daccord, Keller, Martin Necas, Tony DeAngelo, Brady Skjei, Alex Tuch, Rasmus Dahlin, Matt Tomkins, Tomkins, Nikita Kucherov, Nick Suzuki, Michael Pezzetta, Christian Dvorak, Kirill Kaprizov, Joel Eriksson Ek, Pat Maroon, Vinni Lettieri, Marc, Andre Fleury, Noah Dobson, Oliver Wahlstrom, Semyon Varlamov, Panarin, Vincent Trocheck, Chris Kreider, Trocheck, Ville, Michael Rasmussen, Klim Kostin, Andrew Copp, Kyle Connor, Louis, Mark Scheifele, Alex Iafallo, Josh Morrissey, Neal Pionk, Cole Perfetti, Connor Hellebuyck, Robert Thomas, Brayden Schenn, Jordan Binnington, Kadri, Noah Hanifin, Blake Coleman, Dillon Dube, Calgary's Jacob Markstrom, Nick DeSimone, Sharangovich, Michael McCarron, Kiefer Sherwood Organizations: Arizona Coyotes, Seattle, Mullett, Coyotes, Arizona, Arizona State, Hurricanes, Sabres, Buffalo, Necas, Canadiens, NHL, Montreal, Ohio, Islanders, New York, Minnesota, Rangers, Red Wings, New, Detroit, New York's, Jets, Blues, Winnipeg, St, Flames, Calgary, Nashville, Predators, Thomson Locations: Tempe , Arizona, USA, Tempe, Ariz, Carolina, Raleigh, N.C, Tampa, Minnesota, New, Elmont, Ville Husso

Another off-year election, another good night for Democrats – a rejoinder to a spate of recent polls showing alarming 2024 prospects for President Joe Biden. In Election Day’s marquee contests – the Kentucky gubernatorial race, Virginia’s legislative elections and a pro-abortion-rights ballot measure in Ohio – Democrats notched victories. Beyond that, “the real test was Trump’s ability to move voters in a state race,” Cross says. Tate Reeves won a second term – though the race was relatively close for a deep red state. In the secretary of state race, incumbent Michael Watson, a Republican, outran Reeves by more than 8 points in defeating Democrat Ty Pinkins.

Persons: Democrats –, Joe Biden, Andy Beshear, Daniel Cameron, Kentucky’s, Beshear, Biden, Cameron, Glenn Youngkin, ”, Roe, Wade, Beshear’s, Al Cross, Cross, “ I’m, Rich Meagher, Youngkin, “, Paul Beck, Daniel McCaffery, Carolyn Carluccio, Larry Ceisler, Micah Rasmussen, Rider, –, Tate Reeves, Democrat Brandon Presley, Elvis Presley, Reeves, Democrat hasn’t, Presley, Jim Hood, “ Reeves, Steve Rozman, Donald Trump’s, Reeves “, ” Rozman, Republican Russell Coleman, Pamela Stevenson, Michael Adams –, Buddy Wheatley, Lynn Fitch, Democrat Greta Kemp Martin, Michael Watson, outran Reeves, Ty Pinkins, Mark Brewer Organizations: Democrats, Kentucky gubernatorial, Democratic, Republican, GOP, University of Kentucky’s Institute for Rural Journalism, Macon College, Senate, Republicans, Ohio State University, Rebovich Institute for New, Democrat, Public Service Commission, Mississippi, College, University of Maine Locations: Ohio, Kentucky, In Virginia, Letcher, Perry County, Hazard, Breathitt County, Jackson, Virginia, Randolph, Pennsylvania, Philadelphia, ”, New Jersey, Jersey, Rebovich Institute for New Jersey, Mississippi, Maine

☆ Jewellery maker Pandora raises sales forecast after Q3 profit beat
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +2 min

Pandora products are seen at their store at the Woodbury Common Premium Outlets in Central Valley, New York, U.S., February 15, 2022. Pandora said it now forecasts full-year organic sales growth of 5%-6%, up from 2%-5% previously seen, and said it still expects an operating profit margin of around 25%. Operating profit fell to 920 million crowns ($132 million)from a year-earlier 978 million as costs rose, although this also beat analyst expectations for a profit of 875 million crowns in apoll published by Pandora. Improvement in like-for-like sales was driven by the U.S., as traffic picked up in the region given recent brand initiatives. The affordable luxury brand said its gross margin reached a record 79%, helped by cost savings and price hikes.

Persons: Andrew Kelly, Pandora, apoll, Alexander Lacik, Louise Breusch Rasmussen, Anna Ringstrom, Louise Heavens Organizations: Woodbury, REUTERS, Rights, Pandora, JPMorgan, Thomson Locations: Central Valley , New York, U.S

☆ How Ozempic Maker Novo Nordisk’s Very Danish Capitalism Fueled Its Success, and Its Stumbles
▼ + stars: | 2023-11-07 | by ( Sune Engel Rasmussen | Photographs Charlotte De La Fuente For The Wall Street Journal | ) www.wsj.com time to read: 1 min

BAGSVÆRD, Denmark—Every rank-and-file employee at drugmaker Novo Nordisk calls the chief executive by his first name, Lars. Hallways and offices fall silent around 5 p.m., when workers leave to pick up their children or commute home, many by bicycle. Fueled by blockbuster sales of drugs used for obesity, this very Danish company is now one of the world’s most valuable. As of Friday, the company’s market capitalization was roughly $439 billion—more than Pfizer, Lockheed Martin and Starbucks combined. In September, it overtook LVMH, the French luxury-goods firm, as Europe’s biggest company by market capitalization.

Persons: Lars, Lockheed Martin, LVMH Organizations: Denmark —, drugmaker Novo Nordisk, Pfizer, Lockheed, Starbucks, Europe’s Locations: BAGSVÆRD, Denmark, Danish

☆ Hamas Has Deadlier Weapons Than the Last Time Israel Invaded Gaza
▼ + stars: | 2023-11-04 | by ( Benoit Faucon | Sune Engel Rasmussen | ) www.wsj.com time to read: 1 min

The last time Israel invaded the Gaza Strip nearly a decade ago, its troops pummeled an overmatched Hamas fighting force. They destroyed tunnel systems and sealed off smuggling routes, costing the Islamist group two-thirds of its missiles by the time they withdrew. Now, as Israel steps up a new invasion, it faces a more-potent enemy that has rebuilt its arsenal with help from Iran. Since the operation started on Oct. 27, Hamas has attacked the Israeli army with explosive-laden drones, anti-tank missiles and high-impact rockets—the sorts of weapons that have transformed the battlefield in Ukraine.

Persons: Israel Organizations: Hamas Locations: Gaza, Israel, Iran, Ukraine

☆ Hezbollah Chief to Break Silence on Israel-Hamas War
▼ + stars: | 2023-11-03 | by ( Sune Engel Rasmussen | Summer Said | ) www.wsj.com time to read: 1 min

A rocket fired from Lebanon hit the northern Israeli city of Kiryat Shmona on Thursday. Hamas claimed responsibility for the attack, saying its militants in Lebanon had fired 12 rockets toward Israel. Photo: Rami Shlush/ReutersThe chief of Iran-backed Lebanese militant group Hezbollah is set to give his first speech Friday since the start of the Israel-Hamas war, comments that will be watched closely around the region for clues to whether he will step up a confrontation with Israel and potentially ignite a wider conflict. Hassan Nasrallah , Hezbollah’s secretary-general, has kept a public silence since Israel launched its ferocious response to Hamas’s attacks on Israel on Oct. 7, during which militants killed roughly 1,400 people and kidnapped more than 200 others.

Persons: Rami Shlush, Hassan Nasrallah, Israel Organizations: Hezbollah Locations: Lebanon, Kiryat Shmona, Israel, Iran, Lebanese

☆ Hezbollah Chief Hassan Nasrallah Vows Pressure on Israel, but No All-Out War
▼ + stars: | 2023-11-03 | by ( Summer Said | Sune Engel Rasmussen | ) www.wsj.com time to read: 1 min

A rocket fired from Lebanon hit the northern Israeli city of Kiryat Shmona on Thursday. Hamas claimed responsibility for the attack, saying its militants in Lebanon had fired 12 rockets toward Israel. Photo: Rami Shlush/ReutersThe chief of the Iran-backed Lebanese militant group Hezbollah praised the Oct. 7 Hamas attacks on Israel and vowed his group would step up military pressure on Israel in the coming days, but said it didn’t plan on waging an all-out attack for the time being, easing worries that the Israel-Hamas war could spread across the volatile region. Hassan Nasrallah , Hezbollah’s secretary-general, spoke for the first time since the attacks by Hamas, amid concerns the conflict on Israel’s southern end could ignite a separate war in the north against the Lebanese militant group. Hezbollah and Israel have been engaging in tit-for-tat exchanges of fire in recent weeks.

Persons: Rami Shlush, Hassan Nasrallah Locations: Lebanon, Kiryat Shmona, Israel, Iran, Lebanese

Hassan Nasrallah, the secretary-general of Iran-backed Lebanese militia group Hezbollah, issued his first remarks since the Israel-Hamas war began, calling on Arab and Muslim states to cut relations with Israel. Photo: Marwan Naamani/Zuma PressHezbollah’s leader warned that a regional war with Israel was a realistic possibility, as fears grew that the conflict in Gaza could spill into a second battlefront with the Lebanese militant group. Hassan Nasrallah , Hezbollah’s secretary-general, spoke on Friday for the first time since a series of attacks by Hamas killed 1,400 people in southern Israel and sparked a devastating bombing campaign and ground invasion. He said Hezbollah would step up military pressure on Israel, with which it has been engaging in tit-for-tat exchanges of fire, but said the time isn’t right for all-out war.

Persons: Hassan Nasrallah, Marwan Naamani Organizations: Lebanese, Hezbollah, Hamas, Zuma Press Locations: Iran, Israel, Gaza, Lebanese

REUTERS/Jon Nazca/File photo Acquire Licensing RightsSummaryCompanies Signals sharp downturn in demandTo review share buyback program for 2024Says industry facing overcapacity and lower prices, demandShares down more than 10% to lowest in three yearsCOPENHAGEN, Nov 3 (Reuters) - Shipping group A.P. Moller-Maersk (MAERSKb.CO), reported a steep drop in third-quarter profit and revenue on Friday and said it would cut at least 10,000 jobs in the face of overcapacity, rising costs and weaker prices. Shares in the Copenhagen-based group slid 11.1% by 0904 GMT, to their lowest level in three years. The group already warned in August of a steeper decline in global demand for shipping containers by sea this year. Reporting by Jacob Gronholt-Pedersen and Louise Rasmussen, editing by Terje Solsvik, Miral Fahmy, Elaine HardcastleOur Standards: The Thomson Reuters Trust Principles.

Persons: Jon Nazca, Moller, Vincent Clerc, Morten Holm Enggaard, Maersk, Jacob Gronholt, Pedersen, Louise Rasmussen, Terje Solsvik, Miral Fahmy, Elaine Hardcastle Organizations: Triple, Majestic, APM, REUTERS, Shipping, Maersk, Walmart, Nike, Jyske Bank, Thomson Locations: Algeciras, Spain, COPENHAGEN, Copenhagen

[1/2] Containers are seen on the Maersk's Triple-E giant container ship Majestic Maersk, one of the world's largest container ships, next to cranes at the APM Terminals in the port of Algeciras, Spain January 20, 2023. REUTERS/Jon Nazca/File photo Acquire Licensing RightsSummaryCompanies Signals sharp downturn in demandTo review share buyback program for 2024Says industry facing overcapacity and lower prices, demandShares down 17.5% to lowest in three yearsCOPENHAGEN, Nov 3 (Reuters) - Shipping group A.P. Moller-Maersk (MAERSKb.CO), reported a steep drop in third-quarter profit and revenue on Friday and said it would cut at least 10,000 jobs in the face of overcapacity, rising costs and weaker prices, sending its shares tumbling. The industry invested heavily in new container ships during and after the pandemic to meet strong demand and benefit from record freight rates. A large number of new ships entered the market since the summer with no signs of idling or scrapping, said Clerc.

Persons: Jon Nazca, Moller, Vincent Clerc, Clerc, Morten Holm Enggaard, Maersk, Jacob Gronholt, Pedersen, Louise Rasmussen, Johannes Birkebaek, Terje Solsvik, Miral Fahmy, Elaine Hardcastle Organizations: Triple, Majestic, APM, REUTERS, Shipping, Maersk, Walmart, Nike, Jyske Bank, Revenues, Thomson Locations: Algeciras, Spain, COPENHAGEN, North America, Copenhagen

☆ Europe's space agency boss sees progress on Ariane 6 launcher
▼ + stars: | 2023-10-31 | by ( Tim Hepher | ) www.reuters.com time to read: +4 min

Director-General of the European Space Agency (ESA) Josef Aschbacher smiles as he attends an interview with Reuters during the World Economic Forum (WEF) in Davos, Switzerland, January 18, 2023. Josef Aschbacher, director general of the European Space Agency (ESA), said a more precise 2024 launch period would be defined following a delayed long-duration firing test due on Nov. 23. Aschbacher declined to comment on the state of negotiations ahead of the Seville "Space Summit", which is also due to address climate change and Europe's ambitions in space exploration. This is something that is highly critical for Europe," Aschbacher said. But in Europe's system of horse-trading for space funding, any agreement on exploration is likely to depend on progress on the critical issue of Ariane 6 funding, the people said.

Persons: Josef Aschbacher, Arnd, Aschbacher, Safran, Anders Fogh Rasmussen, Tim Hepher, Mark Potter Organizations: European Space Agency, ESA, Reuters, Economic, REUTERS, Rights, Elon, SpaceX, Russian Soyuz, Airbus, NATO, Thomson Locations: Davos, Switzerland, Seville, Spain, France, Germany, Italy, Russian, East, Ukraine, Europe, India, China, United States, Russia

Orsted, the world's largest offshore wind developer, said it would stop developing its 2,248-megawatt (MW) Ocean Wind 1 and 2 projects in New Jersey. The offshore wind industry has found itself in a perfect storm of rising inflation, interest rate hikes and supply chain delays. Norway's Equinor (EQNR.OL), BP's partner on those New York offshore wind developments, booked a $300 million impairment on the projects on Friday. Orsted, which in June announced plans to invest 475 billion crowns by 2030, said it was in the process of reviewing its investments and could introduce cost-saving initiatives. Orsted's share price has tumbled 52% since an August profit warning, cutting its market value to 112 billion crowns from 235 billion.

Persons: Joe Biden, Norway's, Mads Nipper, Nipper, Bernstein, Deepa Venkateswaran, Jacob Gronholt, Pedersen, Louise Rasmussen, Gursimran Kaur, Terje Solsvik, Michael Perry, Mark Potter Organizations: Wednesday, U.S, BP, Thomson Locations: U.S, New Jersey, New York, Danish, Copenhagen, Bengaluru

A view of the turbines at Orsted's offshore wind farm near Nysted, Denmark, September 4, 2023. Orsted, the world's largest offshore wind developer, said in August it may see impairments of 16 billion Danish crowns ($2.3 billion) on its U.S. offshore developments due to supply chain problems, soaring interest rates and a lack of new tax credits. Norway's Equinor (EQNR.OL), BP's partner on those New York offshore wind developments, booked a $300 million impairment on the projects on Friday. In Massachusetts, two offshore wind developers, SouthCoast Wind and Commonwealth Wind, agreed to pay local utilities to terminate deals that would have delivered around 2,400 MW of energy. Avangrid also canceled a contract to sell power in Connecticut from its proposed 804-MW Park City offshore wind farm.

Persons: Tom Little, Denmark's, Joe Biden, Orsted, Jacob Pedersen, Portugal, France's, Avangrid, Scott DiSavino, Louise Breusch Rasmussen, Ron Bousso, Jonathan Oatis, Josie Kao Organizations: REUTERS, BP, U.S, Analysts, Reuters, Commonwealth, Shell, Energias, Thomson Locations: Nysted, Denmark, U.S, Danish, New York, Massachusetts, Connecticut, Rhode Island and Massachusetts, In Massachusetts, Commonwealth, Spanish, Copenhagen, London, Bengaluru

☆ Nordic Countries to Cooperate More on Returning Migrants to Countries of Origin
▼ + stars: | 2023-10-31 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +2 min

By Johannes BirkebaekCOPENHAGEN (Reuters) - The Nordic governments intend to step up their cooperation to return immigrants without legal residence in the region to their countries of origin, ministers from the five countries said in a joint press conference in Copenhagen on Tuesday. However, the Danish model has become more popular as anti-immigration voices have gained traction across the Nordic region. The ministers of Sweden, Finland, Denmark, Norway and Iceland have agreed to strengthen cooperation between diplomatic personnel in charge of returning migrants from the respective Nordic countries to their country of origin. The five countries also have agreed to arrange joint flights to take illegal residents to a third country through the European Border and Coast Guard Agency, Frontex. Lastly, the ministers agreed to "assist stranded irregular migrants in North Africa," who they say will be offered assisted voluntary return to their home countries and assistance in re-establishing themselves in the third country.

Persons: Johannes Birkebaek COPENHAGEN, Ulf Kristersson, Maria Malmer Stenergard, Mari Rantanen, Johannes Birkebaek, Louise Rasmussen, David Gregorio Organizations: Nordic, United Nations, of, European Border, Coast Guard Agency, Frontex, Agency, International Organisation for Migration Locations: Copenhagen, Denmark, Danish, Nordic, Swedish, Finland, Finnish, Sweden, Norway, Iceland, North Africa, Europe, Africa

☆ Iranian Girl Dies in Hospital After Alleged Clash with Security Forces
▼ + stars: | 2023-10-28 | by ( Sune Engel Rasmussen | ) www.wsj.com time to read: 1 min

An image from surveillance video aired by Iranian state television shows people pulling 16-year-old Armita Geravand from a train car on the Tehran Metro Oct. 1. Photo: /Associated PressAn Iranian teenage girl, whose collapse in a Tehran metro raised public anger and suspicion that she had been attacked by morality patrol officers for not covering her hair, has died in hospital, according to Iranian state media. Armita Geravand, 16 years old, had been in a coma since Oct. 1. That day she had entered a subway car in Tehran, wearing her short black hair uncovered, and seconds later was dragged out, unconscious, and laid on the platform. She was pronounced brain dead last week.

Persons: Armita Geravand Organizations: Press Locations: Tehran, Iranian

☆ Danske Bank profits beat forecasts on interest income boost
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +2 min

COPENHAGEN, Oct 27 (Reuters) - Danske Bank (DANSKE.CO) on Friday reported a bigger than expected third-quarter profit, boosted primarily by high interest income, and narrowed its full-year earnings guidance, sending its shares up more than 6%. Danske Bank's results mirror those of rival Nordic banks SEB (SEBa.ST) and Swedbank (SWEDa.ST), which also beat analysts expectations when they published third-quarter results earlier this week. Danske, Denmark's biggest bank, narrowed its 2023 guidance for full-year net profit to a range of 19.5 billion-20.5 billion crowns, from 18.5 billion-20.5 billion previously. Danske's net interest income was up at 9.32 billion crowns from a year earlier 6.29 billion, and just above the 9.09 billion forecast by an LSEG poll of analysts. The bank said it expects net interest income to grow further based on the announced central bank rate hikes.

Persons: Danske, Louise Breusch Rasmussen, Terje Solsvik, Jane Merriman Organizations: Danske Bank, Thomson Locations: COPENHAGEN, Denmark's

☆ Weapons Flood West Bank, Fueling Fears of New War Front With Israel
▼ + stars: | 2023-10-25 | by ( Sune Engel Rasmussen | Benoit Faucon | ) www.wsj.com time to read: 1 min

AMMAN—Long before Hamas militants burst out of their Gaza stronghold to massacre scores of civilians with handguns and assault rifles, Iran and its allies had accelerated efforts to smuggle weapons into a different part of the Palestinian territories, the West Bank. Using drones, secret airline flights and a land bridge that traverses hundreds of miles and at least four national borders, the smuggling operation is raising the specter of a new conflagration in the war between Israel and Palestinians. It also poses a growing threat to Jordan, a staunch U.S. ally which borders Israel and the West Bank and has been struggling to contain a growing flow of drugs and arms.

Persons: AMMAN — Long, specter, Jordan Organizations: West Bank Locations: AMMAN, Gaza, Iran, Israel, U.S

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