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☆ Eugene Kohn Built Architecture Firm That Redrew Skylines
▼ + stars: | 2023-04-09 | by ( James R. Hagerty | ) www.wsj.com time to read: 1 min

Eugene Kohn led KPF as president until 2003 and remained chairman until early this year. Eugene Kohn’s timing didn’t seem ideal when he launched a New York-based architecture firm in 1976. Mr. Kohn estimated that nearly 60% of architects in the New York area were out of work. During an economic lull, it also was easy to make appointments with people likely to need his services eventually. After a slow start, his Kohn Pedersen Fox firm established itself within two decades as a major international contender.

☆ Object near Nord Stream 2 pipeline poses no safety risk - Denmark
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

COPENHAGEN, March 29 (Reuters) - An object found close to the Nord Stream 2 gas pipeline in the Baltic Sea appeared to be a maritime buoy and does not pose a safety risk, the Danish Energy Agency said on Wednesday. The object, which was retrieved on Tuesday by the Danish navy, was discovered during an inspection of the last remaining intact pipeline by Swiss-based operator Nord Stream 2 AG. The object does not pose a safety risk," the agency said in a statement. Last week, Denmark invited the Russian-controlled Nord Stream operator to assist in retrieving the object. A representative from Nord Stream 2 AG was present during the operation, which was carried out at a depth of 73 meters, the agency said.

The Arctic Council was created in 1996 to discuss issues affecting the polar region, ranging from pollution to local economic development to search-and-rescue missions. The Arctic Council comprises the eight Arctic states of Russia, the United States, Canada, Finland, Norway, Iceland, Sweden and Denmark. Russia's possible degree of involvement with the Council once Norway takes over is still unclear. Russian Foreign Minister Sergei Lavrov had earlier extended an invitation to Arctic officials to attend a transition ceremony in Salekhard, Siberia. Russian Arctic Ambassador Nikolay Korchunov, chair of the Senior Arctic Officials on the council, told Reuters the transition would "presuppose active and responsible participation of all Arctic Council member states in this preparatory process."

☆ Nordic countries plan joint air defence to counter Russian threat
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: +2 min

COPENHAGEN, March 24 (Reuters) - Air force commanders from Sweden, Norway, Finland and Denmark said on Friday they have signed a letter of intent to create a unified Nordic air defence aimed at countering the rising threat from Russia. The move to integrate the air forces was triggered by Russia's invasion of Ukraine in February last year, commander of the Danish air force, Major General Jan Dam, told Reuters. Finland has 62 F/A-18 Hornet jets and 64 F-35s on order, while Denmark has 58 F-16s and 27 F-35s on order. The signing at the Ramstein Air Base in Germany last week was attended by NATO Air Command chief General James Hecker, who also oversees the U.S. Air Force in the region. The Nordic air force commanders first discussed the closer cooperation at a meeting in November in Sweden.

☆ Relativity Space made history by launching the first 3D printed rocket into space. Here's how the company aims to beat Elon Musk to Mars by 2024.
▼ + stars: | 2023-03-23 | by ( Marianne Guenot | Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +1 min

Ellis sees his race to Mars as more of a collaboration than a competition. A photo montage shows SpaceX's Super Heavy booster next to Elon Musk, pictured n Berlin, Germany. SpaceX's upcoming planned Starship launch is a big part of NASA's plan to return to the moon, and ultimately Mars. Once it can demonstrate it can bring a payload to Mars, the next step is to bring its printers there. "At first that may be spare parts and other small replacement components for things that break down once you're there.

COPENHAGEN, March 23 (Reuters) - Denmark on Thursday invited the Russian-controlled operator of the Nord Stream 2 pipeline to help salvage an unidentified object found close to the only remaining intact gas pipeline under the Baltic Sea. "With a view to further clarifying the nature of the object, Danish authorities have decided to salvage the object with assistance from the Danish Defence," the country's Energy Agency said in a statement on Thursday. "The Danish Energy Agency has in that context invited the owner of the pipeline, Nord Stream 2 AG, to participate in the operation," it said, adding it was awaiting a response from the operator. The pipeline operator is controlled by Russian state-owned gas company Gazprom (GAZP.MM). It was not clear if he referred to the same object that Danish authorities will attempt to salvage.

☆ Bang & Olufsen shares drop after disappointing China sales
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +1 min

[1/2] Headphones are displayed in the Bang & Olufsen flagship store in Copenhagen, Denmark October 23, 2019. REUTERS/Jacob Gronholt-Pedersen/File PhotoSTOCKHOLM, March 17 (Reuters) - Shares in Bang & Olufsen (BO.CO) plummeted 11% on Friday after the Danish audio and video equipment maker reported a preliminary operating loss for the third quarter and lowered its full-year profit outlook due to disappointing sales in China. The company posted an operating loss before special items for the third quarter of 43 million Danish crowns ($6.14 million) between December to February. Sales in China declined by 65% in the third quarter, the company said. Shares in B&O were trading 11% lower by 1513 GMT, headed for their biggest daily decline since December 2019.

☆ Putin says Nord Stream blasts carried out on 'state level'
▼ + stars: | 2023-03-14 | by ( Caleb Davis | ) www.reuters.com time to read: +3 min

March 14 (Reuters) - Russian President Vladimir Putin said on Tuesday that last year's blasts on the Nord Stream gas pipelines had been carried out on a "state level", dismissing the idea an autonomous pro-Ukraine group was responsible as "complete nonsense". The Nord Stream 1 and 2 pipelines connecting Russia and Germany under the Baltic Sea were hit by a series of unexplained explosions last September, in what Moscow has called an act of "international terrorism". 'ANTENNA'Commenting on a report suggesting that a pro-Ukraine had attacked the pipelines, Putin said this was "complete nonsense". Theoretically, of course, the United States is interested," Putin said. The United States strongly denies any involvement in the Nord Stream blasts.

The SFDR defines sustainable investment as contributing to "an environmental or social objective", assessed by indicators such as use of raw materials or production of waste. The people Reuters spoke to said discrepancies among fund portfolios reflected a lack of clarity from the Commission over what constitutes a sustainable investment. Reuters GraphicsReuters GraphicsTEMPERATURE GAUGEMSCI, the finance industry data provider, has developed a way of checking on investment funds' green credentials with its ESG Implied Temperature Rise tool. Among them, for example, are BlackRock's Sustainable Energy Fund, Nordea's Global Climate and Environment Fund and Pictet's Global Environmental Opportunities Fund. "The characterisation of what constitutes a sustainable investment under the SFDR is also a concept that needs further clarifications at European level."

☆ Denmark investigates yacht linked to Nord Stream blasts
▼ + stars: | 2023-03-09 | by ( Nikolaj Skydsgaard | ) www.reuters.com time to read: +2 min

CHRISTIANSÖ in the Baltic Sea, Denmark March 9 (Reuters) - Danish police have searched for a yacht on a tiny Baltic Sea island near the Nord Stream pipeline blast sites, the local administrator said on Thursday. German authorities confirmed on Wednesday they had raided a ship in January that may have been used to transport explosives used to blow up the pipelines. Authorities in Sweden, Germany and Denmark, who are currently investigating the blasts, say the explosions were deliberate but have not said who might be responsible. Christiansö is part of a small archipelago about 18 km northeast of the Baltic Sea island of Bornholm. The archipelago with just 98 inhabitants is a former naval fortress but remains under administration of the Danish defence ministry.

Carlsberg shares have risen more than 60% during Hart's tenure, outperforming AB Inbev and Heineken, whose shares have dropped around 47% and risen around 45% respectively. Carlsberg's shares fell 3.5% at market open in Copenhagen, but later pared losses and were 0.7% lower at 1118 GMT. "Cees 't Hart has delivered remarkable results during his time at Carlsberg," Supervisory Board Chair Henrik Poulsen said. It is also seeking an option to buy back the Russian business in the future. With only around 16% of revenue coming from Eastern Europe, Carlsberg's biggest markets are Western Europe and Asia.

☆ Lego looks to build on 2022 sales growth with more China stores
▼ + stars: | 2023-03-07 | by ( Jacob Gronholt-Pedersen | ) www.reuters.com time to read: +2 min

COPENHAGEN, March 7 (Reuters) - Toymaker Lego said store openings in China and strong demand in Western Europe and the Americas had delivered 17% sales growth in 2022, adding that it expects to outpace the market this year. Lego plans to open another 145 stores this year, mostly in China, which Christiansen said in an interview he expects will help it to grow sales by a high single-digit percentage. "After a few extraordinary years we may see a return to more normal growth," Christiansen said. "High growth in sales has helped us compensate for those extra costs on freight, energy and raw materials," he said. As part of its strategy of placing production close to its key markets, Lego plans to begin operating new factories in Vietnam and Virginia, U.S. in 2024 and 2025, respectively.

[1/5] The logo of Nord Stream AG is seen at an office building in the town of Vyborg, Leningrad Region, Russia August 22, 2022. Nord Stream 1 and Nord Stream 2, each consisting of two pipes, were built by Russia's state-controlled Gazprom to pump 110 billion cubic metres (bcm) of natural gas a year to Germany under the Baltic Sea. Three of the pipes were ruptured by unexplained blasts in September, and one of the Nord Stream 2 pipes remains intact. Engie (ENGIE.PA), Gasunie (GSUNI.UL) and Wintershall DEA (WINT.UL) (BASFn.DE) - stakeholders in Nord Stream AG, the operator of Nord Stream 1 - declined to comment. The similar-sized Nord Stream 2 had been completed in September 2021 as tensions with Russia were growing and ran in trouble as Germany's regulators refused to certify it.

[1/3] Ben & Jerry's, a brand of Unilever, is seen on display in a store in Manhattan, New York City, U.S., March 24, 2022. Eliminating less popular products is part of a "decomplexity program" underway at Kraft Heinz, its executives said at the Consumer Analyst Group of New York Conference this week. Nestle said cutting products saved 1 billion Swiss francs last year ($1.06 billion), while Unilever said the practice saved $2 billion. At the consumer products conference they highlighted new offerings, many of them increasingly popular handheld foods that people can eat while scrolling on phones. "You'd be shocked by the loyalty and personal connections people have to food products," he said.

[1/3] Ben & Jerry's, a brand of Unilever, is seen on display in a store in Manhattan, New York City, U.S., March 24, 2022. Nestle said cutting products saved 1 billion Swiss francs last year ($1.06 billion), while Unilever said the practice saved $2 billion. Food makers tend to cull products without much fanfare. At the consumer products conference they highlighted new offerings, many of them increasingly popular handheld foods that people can eat while scrolling on phones. "You'd be shocked by the loyalty and personal connections people have to food products," he said.

Russia wants the 15-member council to ask for an independent inquiry into the blasts on the pipelines connecting Russia and Germany, which spewed gas into the Baltic Sea. "The authorities of Denmark, Germany and Sweden have been in dialogue regarding the investigation of the gas leaks, and the dialogue will continue to the relevant extent." Russia has asked U.S. economist Jeffrey Sachs, of the Center for Sustainable Development at Columbia University, to brief the Security Council at Tuesday's meeting. The consequences as concerns greenhouse gas emissions are substantial and worrisome," Denmark, Germany and Sweden wrote. This means a vote could coincide with meetings of the U.N. General Assembly and Security Council to mark the first anniversary of Moscow's invasion of Ukraine.

☆ Maersk expects 2023 profits to plummet as volumes, freight rates fall
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +1 min

Moller-Maersk (MAERSKb.CO) on Wednesday reported fourth-quarter earnings slightly below expectations and forecast a 2023 core profit significantly below last year's as volumes and freight rates fall. The company said in a statement it expected underlying earnings before interest, taxation, depreciation and amortisation (EBITDA) between $8 billion and $11 billion this year, compared with $36.8 billion last year. Underlying EBITDA stood at $6.52 billion in the fourth quarter compared with $7.99 billion a year ago and a 6.95 billion forecast by analysts in a poll gathered by the company. Revenues fell slightly to $17.8 billion in the period as the number of containers it loaded on to ships fell by 14%. Reporting by Jacob Gronholt-Pedersen, editing by Anna RingstromOur Standards: The Thomson Reuters Trust Principles.

Much as he would have liked to significantly increase supplies, Biosca-Reig said he couldn't justify investing millions of euros in new production lines unless he was paid more for the generic drug to cover sharply rising costs. European generic drugmakers say the tender system and regulated prices have fuelled a race to the bottom, and European firms are being undercut by suppliers from Asia. BRUSSELS, WE HAVE A PROBLEMThe European Medicines Agency (EMA) and European Union lawmakers acknowledge there is a problem. Half the generic medicines sold in Spain are priced below 1.60 euros per box or bottle, the country's generics manufacturing association said. But companies with smaller market shares, such as Israel's Teva (TEVA.TA), which has 5% of the region's amoxicillin market according to Medicines for Europe, are constrained.

☆ Carlsberg expects lower beer consumption to hit 2023 growth
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +1 min

COPENHAGEN, Feb 7 (Reuters) - Danish brewer Carlsberg (CARLb.CO) on Tuesday forecast organic operating profit growth in 2023 below last year's level as higher beer prices are expected to dent consumption. The world's third-biggest brewer expects organic operating profit this year to change by between minus 5% and plus 5%, compared with 12% growth last year. "While beer historically has been a resilient consumer category, the higher prices in combination with generally high inflation may have a negative impact on beer consumption in some of our markets, particularly in Europe," he said. Carlsberg said sales in the fourth quarter rose 6% from a year earlier to 14.6 billion Danish crowns ($2.11 billion), against 14.7 billion crowns estimated by analysts in a poll provided by the company. ($1 = 6.9344 Danish crowns)Reporting by Jacob Gronholt-Pedersen, editing by Terje SolsvikOur Standards: The Thomson Reuters Trust Principles.

☆ 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.

☆ Top container shippers Maersk, MSC to end alliance from 2025
▼ + stars: | 2023-01-25 | by ( Jacob Gronholt-Pedersen | ) www.reuters.com time to read: +2 min

COPENHAGEN, Jan 25 (Reuters) - Denmark's Maersk (MAERSKb.CO) and Swiss-based MSC, the world's largest container shipping companies, said on Wednesday they had agreed to end a vessel sharing alliance in January 2025, allowing them to pursue individual strategies. Both companies saw the alliance as a way to manage more capacity after purchasing new mega-ships. "Today, we have a much different strategy, where we more look at how to integrate container shipping at sea with our land-based logistics business," Maersk's head of ocean shipping Johan Sigsgaard told Reuters in an interview. Maersk expects to be able to deliver ocean shipping at the same scale when the partnership with MSC ends without rising the cost of moving each container at sea, Sigsgaard said. MSC, privately owned by the Aponte family, overtook Maersk as the world's biggest container in 2021.

☆ Per Pedersen Aimed to Change the Face of Advertising
▼ + stars: | 2023-01-12 | by ( James R. Hagerty | ) www.wsj.com time to read: 1 min

Per Pedersen spent most of his career at Grey, an advertising unit of WPP, before launching his by The Network ad cooperative. Per Pedersen ‘s death on Jan. 4, of cancer at age 58, cut short his leadership of an experiment aimed at changing the face of advertising. Mr. Pedersen, a Dane who spent most of his career at Grey, an advertising unit of the global WPP PLC, believed that giant companies were stifling creativity and failing to attract or retain free spirits with fresh ideas. In 2020, he founded a cooperative—known as by The Network—to help small independently owned agencies around the world collaborate. It serves 34 agencies, employing a total of about 750 people, in more than 30 countries.

☆ Hackers hit websites of Danish central bank, other banks
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +1 min

COPENHAGEN, Jan 10 (Reuters) - Hackers have disrupted access to the websites of Denmark's central bank and seven private banks in the country this week, according to the central bank and an IT firm that serves the industry. The websites of the central bank and Bankdata, a company that develops IT solutions for the financial industry, were hit by so-called distributed denials of service (DDoS), which direct traffic towards targeted servers in a bid to knock them offline. A spokesperson for the central bank said its website was working normally on Tuesday afternoon and the attack did not impact the bank's other systems or day-to-day operations. Access to the websites of seven private banks was briefly restricted on Tuesday after the DDoS attack on Bankdata, a company spokesperson said. The banks included two of Denmark's largest, Jyske Bank (JYSK.CO) and Sydbank (SYDB.CO), he said.

☆ Crumbling tech stocks and recession fears have cratered the fortunes of the wealthiest Americans including Elon Musk and Jeff Bezos.
▼ + stars: | 2022-12-29 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Britta Pedersen-Pool/Getty Images; Arif Hudaverdi Yaman/Getty Images; KENZO TRIBOUILLARD/Getty Images; Mike Cohen/Getty Images; Yuqing Liu/Business Insider1. Besides the fallen crypto king, many of these shrinking fortunes can be chalked up to this year's bloodbath in the tech stocks. How has Elon Musk's involvement with Twitter impacted your outlook for Tesla stock? Tesla stock price on December, 29, 2022 Markets Insider10. Tesla stock climbed Wednesday as dip-buyers poured into the EV maker.

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