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1 Scottie Scheffler, were not even born the last time the Americans won a Ryder Cup on European soil. That was in 1993 at The Belfry, when Ryder Cup rookie Davis Love III made the cup-clinching putt. “I think one of the great accomplishments in our game now is to win an away Ryder Cup,” Rory McIlroy said. The PGA of America runs the Ryder Cup — not the tour — though the only access to Ryder Cup points for Americans was the majors. Missing from the European team for the first time since 1997 is Sergio Garcia, the leading scorer in Ryder Cup history.

Persons: Jordan Spieth, ”, Tommy Fleetwood of, Xander Schauffele’s, ’ ” Fleetwood, Marco Simone, LIV, Brooks Koepka, Scottie Scheffler, Davis Love, “, ” Scheffler, Tiger Woods, Phil Mickelson, Spieth, Dustin Johnson, we’ve, Zach Johnson, ” Rory McIlroy, it’s, ” McIlroy, —, Johnson, “ He’s, ” Johnson, Koepka, Henrik Stenson, Luke Donald, Ian Poulter, Sergio Garcia, Jon Rahm, Garcia, Donald, Nicolai Hojgaard, Ludvig Aberg, McIlroy, ” Marco Simone, ___ Organizations: Ryder, Team USA, U.S ., of Fame, U.S, ’, America, LIV, Europe, Valderrama, K Locations: Rome, Europe, Whistling Straits, Wisconsin, Saudi, U.S, France, Spain, Northern Ireland, Denmark, European, Ireland

☆ Adidas CEO says Kanye West didn't mean antisemitic remarks, isn't a bad person
▼ + stars: | 2023-09-20 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +2 min

Following widespread public outcry, Adidas announced it had ended its relationship with Ye, stopped production of Yeezy-branded products and ended all payments to Ye and his companies. Foot Locker and Gap soon followed suit and announced they would pull Yeezy products from their stores. That can happen with an athlete, it can happen with an entertainer, so it's part of the business," said Gulden. Despite the public comments from its chief executive, an Adidas spokesperson told CNBC that the company's position on Ye "has not changed." Adidas CEO Bjorn Gulden defended Ye, the artist formerly known as Kanye West, and said the rapper didn't mean it when he made a series of antisemitic remarks.

Persons: Nicolai Tangen's, Gulden, Ye, Adi, Bjorn Gulden Organizations: Adidas, CNBC Locations: Chicago, German

VIRGINIA WATER, England (AP) — Europe’s 12 Ryder Cup players delivered a mixed bag of scores in the first round of the BMW PGA Championship. Of the Europeans heading to Rome for the Ryder Cup in two weeks, Matt Fitzpatrick (66), Ludvig Åberg (68) and Tyrrell Hatton (68) posted the best rounds at Wentworth. “I think we are all a little bit in the Ryder Cup mindset,” said No. Fitzpatrick, who went out with Robert MacIntyre and Justin Rose (both 72), played the best of the Ryder Cup squad after starting with four birdies in his first six holes. “I’ll start focusing on the Ryder Cup once Sunday finishes.”They are all chasing the 26-year-old Helligkilde, who is coming to the end of his second season on the European tour.

Persons: —, Marcus Helligkilde, Dane, Matt Fitzpatrick, Ludvig Åberg, Tyrrell Hatton, Nicolai Hojgaard, Luke Donald, Adrian Meronk, Rory McIlroy, Jon Rahm, ”, Viktor Hovland, Marco Simone, ” Hovland, McIlroy, Swede, Åberg, ” Åberg, “ Ludvig, “, Hovland, Donald, Shane Lowry, Tommy Fleetwood, Sepp Straka, Fitzpatrick, Robert MacIntyre, Justin Rose, Richie Ramsay, ” Fitzpatrick, birdies, Helligkilde Organizations: Ryder, BMW PGA, Wentworth Locations: VIRGINIA, England, Rome, “

☆ A Theater Troupe That’s Also a Support Network for Exiles
▼ + stars: | 2023-09-13 | by ( Alex Marshall | More About Alex Marshall | ) www.nytimes.com time to read: +1 min

When the two founders of the renowned Belarus Free Theater claimed political asylum in Britain in 2011, they found themselves homeless, with few possessions and facing a bureaucratic labyrinth before they could work. Twelve years later, the company’s founders, Natalia Kaliada and Nicolai Khalezin, are using that experience to help other artists fleeing political repression. The Belarus Free Theater’s political productions have often criticized Lukashenko’s authoritarian leadership and its troupe was long at risk of arrest. But as repression increased, the company decided it was no longer feasible for its other members to remain in Minsk. Since then, Kaliada said, she and Khalezin had been helping the actors to find housing, therapy and visas.

Persons: Natalia Kaliada, Nicolai Khalezin, Ukraine —, Aleksandr G, Lukashenko, Vladimir V, Putin, Kaliada, Khalezin Organizations: Belarus Free Theater, Skype, Belarus —, Belarus Free Locations: Belarus, Britain, British, Minsk, Belarus’s, East, Russia, Ukraine

☆ Sam Altman thinks Silicon Valley has lost its culture of innovation
▼ + stars: | 2023-09-07 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

OpenAI's Sam Altman thinks Silicon Valley no longer has an innovation culture. "Before OpenAI, what was the last really great scientific breakthrough that came out of a Silicon Valley company?" Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. "There used to be great research that happened in companies in Silicon Valley, Xerox PARC being the obvious example. To this, Altman responded by saying Silicon Valley did have a product innovation culture, but he felt it missed the mark on groundbreaking research.

Persons: OpenAI's Sam Altman, Sam Altman, Altman, Nicolai Tangen, I'm, Marc Andreessen, Andreessen, Horowitz, Matt Miller, Altman's OpenAI, ChatGPT, OpenAI Organizations: Service, Xerox PARC, Norges Bank Investment, Sequoia Capital, Biosciences Locations: Wall, Silicon, Silicon Valley, China, California, OpenAI

☆ 'We're not going to be a cornerstone investor' in Arm IPO, world's largest sovereign wealth fund says
▼ + stars: | 2023-09-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'We're not going to be a cornerstone investor' in Arm IPO, world's largest sovereign wealth fund saysNicolai Tangen, chief executive officer of the Norwegian Sovereign Wealth Fund, said his fund would not be a cornerstone investor at the recently announced IPO of chip designer Arm.

Persons: Nicolai Tangen Organizations: Norwegian Sovereign Wealth Fund Locations: Norwegian

☆ Climate commitments are 'not political,' says Nicolai Tangen
▼ + stars: | 2023-09-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailClimate commitments are 'not political,' says Nicolai TangenNicolai Tangen, CEO of the Norway's sovereign wealth fund, discusses ESG policies and looks at what risks may lie ahead for the fund.

Persons: Nicolai Tangen Nicolai Tangen

☆ 2023 Ryder Cup teams: Shock selections, ‘criminal’ absences: Everything you need to know about the squads
▼ + stars: | 2023-09-06 | by ( Jack Bantock | ) edition.cnn.com time to read: +13 min

CNN —The teams are in – and Ryder Cup fever has officially taken hold. Team USACaptain: Zach JohnsonA member of five US teams as a player, Johnson is a veteran of the Ryder Cup. Consistency” – who accumulated more Ryder Cup points than the next two closest players combined since the start of 2022. Subsequently, selecting Koepka for his fourth Ryder Cup appearance was an “easy pick” for his captain. Rounding out the American roster are Ryder Cup rookie Burns and Morikawa, who went 3-0-1 on his debut two years ago.

Persons: Zach Johnson, Luke Donald, Marco Simone Golf, It’s, Johnson, Steve Stricker, Stricker, Davis Love III, Jim Furyk, Fred Couples, Stewart Cink, Jonathan Bachman, Scottie Scheffler, Wyndham Clark, Brian Harman, Patrick Cantlay, Max Homa, Xander Schauffele, Scheffler, Ezra Shaw, Clark, Harman, Homa, Schauffele, ” Homa, ” Harman, ” Johnson, Sam Burns, Rickie Fowler, Brooks Koepka, Collin Morikawa, Jordan Spieth, Justin Thomas It’s, LIV, Koepka, “, “ Brooks, CNN Thomas, he’s, JT, ” Thomas, Thomas, Ryder, ” Cameron Young, Keegan Bradley, Denny McCarthy, “ Zach, Ross Kinnaird, Spieth, Fowler, Burns, Morikawa, Marco Simone, that’s, Luke Donald He, Donald, Henrik Stenson, Francesco Molinari, Edoardo –, Thomas Bjørn, Nicolas Colsaerts, María, Sergio Garcia, Andrew Redington, Rory McIlroy, Jon Rahm, Viktor Hovland, Tyrrell Hatton, Matt Fitzpatrick, Robert MacIntyre, McIlroy, Rahm, Fitzpatrick, compatriot Hatton, MacIntyre, ” Donald, ”, Paul Ellis, Captain’s, Tommy Fleetwood, Sepp Straka, Shane Lowry, Justin Rose, Nicolai Højgaard, Ludvig Aberg, Swede, Ludvig, “ He’s, Fabrice Coffrini, Adrian Meronk, Paul Goydos, Adrian, There’s, Straka, Rose, Lowry Organizations: CNN, Ryder, United States, Country Club, Team Europe, Team USA, Whistling, Davis Love, Tour, PGA, CNN Sport, FedEx, Getty, USA, ” Team, Northern, Scottish, Hovland, European, Fleetwood Locations: –, Rome, Italy, Whistling Straits, Hazeltine, Saudi, Europe, Hovland, Norwegian, AFP, Switzerland, Crans Montana

Just don't look for Ludvig Aberg to be sprinting and strutting and leaping into the arms of his teammates at the Ryder Cup. He doesn't let distractions get him off.”One such distraction might be playing with the Ryder Cup captain in his third start as a pro. They are the only two players to turn pro in the same year they debut in the Ryder Cup. Over the next two decades, he smashed the Ryder Cup record for most points. The Ryder Cup figures to be the ultimate test.

Persons: Sergio Garcia, Ludvig Aberg, ” Luke Donald, Matt Fitzpatrick, “, ” Donald, Greg Sands, Aberg, ” Sands, Donald, Edoardo Molinari, ” Aberg, “ I've, Marco Simone, Rome, Garcia, ”, Nicolai Hojgaard, It's Organizations: Ryder, Texas Tech, U.S, Scandinavian, PGA Tour, Aberg, Rocket, Detroit Golf, Czech Masters, Irish, PGA, BMW PGA, Wentworth Locations: Switzerland, Dubai, Medinah, Europe, Whistling Straits, Denmark, Italy, Detroit, Brookline

☆ The world's biggest stock investor says if you don't see opportunities in AI, then you are a 'complete moron'
▼ + stars: | 2023-08-16 | by ( Jason Ma | ) www.businessinsider.com time to read: +2 min

"If you don't think there are opportunities with AI, then in my mind you are a complete moron." That comes from the head of Norway's sovereign wealth fund, which is the world's biggest stock investor. "If you don't think there are opportunities with AI, then in my mind you are a complete moron," Nicolai Tangen, the fund's chief executive, told the Financial Times. Meanwhile, he warned that regulating AI will be difficult because the US-China rivalry has made the technology critical to the "weapons race, medical race, self-driving race, financial race." "We are always conscious and worried about the biggest exposures of the fund," Tangen told Reuters separately.

Persons: Nicolai Tangen, Tangen, wouldn't Organizations: Service, Apple, Meta, Microsoft, Nvidia, Tesla, Financial Times, Reuters Locations: Wall, Silicon, China

Norway wealth fund CEO Nicolai Tangen poses for a picture before a news conference held at the Norwegian central bank in Oslo, Norway January 31, 2023. The fund invests in 9,200 firms worldwide, for which it sets expectations on a range of issues, from children's rights to climate change. When talking to firms about responsible AI, the fund will concentrate particularly on the healthcare, finance and large tech sectors, because their use of the technology will have an especially strong impact on consumers. "They have to take responsibility for their development and use of AI," said Smith Ihenacho, adding the fund had already discussed AI with the large U.S. tech companies in its portfolio. In July, U.S. AI companies made voluntary commitments to the White House to implement measures such as watermarking AI-generated content to make the technology safer.

Persons: Nicolai Tangen, Will, Tangen, Carine Smith Ihenacho, Smith, Smith Ihenacho, Gwladys Fouche, Terje Solsvik, Jan Harvey Organizations: REUTERS, financials, Reuters, Companies, Microsoft, Nvidia, Tech, Thomson Locations: Norway, Norwegian, Oslo, Victoria, financials OSLO

Weeks later, Mr. Trump is the former President Trump. Instead, in a brief televised address shortly before 2:30 a.m., Mr. Trump furiously laid down his postelection lie. For weeks, Mr. Trump had been peppering him with tips of fraud that, upon investigation by federal authorities, proved baseless. The cavalry “is coming, Mr. President,” Kylie Kremer tweeted to Mr. Trump on Dec. 19. On Jan. 15, Mr. Trump acquiesced to an Oval Office meeting with Mr. Lindell, who arrived with two sets of documents.

Persons: Donald J, Trump, Joseph R, Biden, Justin Clark, Rudolph W, Giuliani, Clark, Weeks, Mitch McConnell, McConnell, Jared Kushner, McConnell’s, Biden’s, William P, Barr, Mr, Trump’s, Sidney Powell, Lin Wood, sleuths, MyPillow, Mike Lindell, Patrick Byrne, Stephen K, Bannon, Michael T, Flynn, platformed, Jared Taylor, Enrique Tarrio, Doug Mills, Eric, “ We’re, ”, Fox, Eric Trump, Newt Gingrich, Joe Biden’s, Kevin McCarthy, Laura Ingraham, Obama, Dennis Montgomery, Thomas McInerney, McInerney, John McCain, Bannon’s, “ it’s, Paul Gosar, Doug Ducey, Roy Blunt of, Roy Blunt, Anna Moneymaker, —, “, ” Mr, Mark Meadows, Josh Holmes, Kushner, — Mr, Mitt Romney, Lisa Murkowski, Lindsey Graham, Sean Hannity, Lindsey Graham of, Sean Hannity’s, — I’ve, Let’s, Graham, Pat A, Axios, Brendan Smialowski, “ Hannity, Thomas, Jenna Ellis, Matt Morgan, Al Gore, George W, Bush, Brooks, Stefan Passantino, Powell, Lynsey Weatherspoon, Gore, William H, Rehnquist, Giuliani —, Kris Kobach, Mark Martin, Lawrence Joseph, Kobach, Uncle Sam, Mr . Biden, Ken Paxton, Jeffrey M, Landry, Paxton, Kyle D, Hawkins, Jacquelyn Martin, Joseph, Richard L, Chris Carr, Carr, Mike Johnson of, Mike Johnson, McCarthy, Privately, Ted Cruz of, John Sauer, ’, ” James E, Nicolai, North, Wayne Stenehjem, Stenehjem, Wayne, Tasos Katopodis, MAGA, Marjorie Taylor Greene, Marsha Blackburn of, Ms, Blackburn, Amy Kremer, Ann Stone, Roger Stone, Amy Coney Barrett, Kremer’s, Kylie Jane Kremer, Jennifer Lawrence, Dustin Stockton, Lawrence, Stockton, I’ve, Lindell, they’d, Taylor, Greg Locke, Covid, Michael McKinney, Tucker Carlson, Carlson’s, “ Donald Trump, ” Ms, Meadows, Georgia runoffs, Byrne, Cipollone, he’d, Martin, Mike Pence, reconvene, ” Kylie Kremer, James Yeager, Kylie Kremer, Yeager’s, Lawrence whooped, John Kennedy, James Lyle, Josh Hawley, “ You’ve, Lyle, Couy Griffin, Kennedy, Pete Marovich, Kremer, Julie Jenkins Fancelli, Alex Jones, Caroline Wren, Kimberly Guilfoyle, Donald Trump Jr, Katrina Pierson, Brad Raffensperger, Jeffrey A, Rosen, Department’s, Jeffrey Clark, Scott Perry, Hawley, Cruz, Year’s, Tom Cotton of, Cotton, Cindy Chafian, Chafian, Jones, Stone, Locke, Jan, “ You’ll, Gosar, Griffin, Robert O’Brien, I’m, ’ ”, Kenny Holston, Donald Trump, ” Mark Walker, Ben Margot, Stefani Reynolds, Samuel Corum, Erin Schaff, David J, Ted Cruz, John Bazemore Organizations: Twitter, Dominion Systems, Trump, Biden, Dominion, New, New York City, The New York Times, Senate, New York, Republican Party, Capitol, White, Times, The Times, America News Network, Fox, America, Boys, New York Times, American, Air Force, Electoral College, Republicans, Joe Biden’s Democratic Party, Republican, Facebook, Democrats, Associated Press, “ Fox & Friends, White House, West Wing, “, Federal Bureau of Investigation, Veritas, Justice Department, Postal Service, York Daily, Agence France, Zignal Labs, Amistad, Thomas More Society, Mr, Electoral, Supreme, Lawyers, General Association, Associated, State, University of California, Republican House, Women, Tea Party, Trump -, Breitbart, of, Credit, SPAN, Tea Party Express, Republican National Committee, Internet, Army, Des Moines Register, Marine, General Services Administration, Swedish, Cowboys, Capitol ., Street Journal, Save, General Association ., Law Defense Fund, Freedom, Coalition, Proud Boys, Willard, Homeland Security, Party, Getty, Georgia Electoral College Locations: Detroit, Arizona, Georgia, New York, America, China, Trump, Grand Rapids, Mich, Philadelphia, Atlanta, Milwaukee, Santa Cruz ,, Arizona —, Russia, North Vietnam, United States, Roy Blunt of Missouri, Kentucky, Utah, Alaska, Lindsey Graham of South Carolina, Erie, Pa, Pennsylvania, Long, Bush, Florida, tightest, Kansas, North Carolina, Ken Paxton of Texas, Texas, State of Texas, Michigan, Wisconsin, Irvine, Mike Johnson of Louisiana, Ted Cruz of Texas, Missouri, Washington, Marsha Blackburn of Tennessee, Trump’s, Hudson, Stockton, Tennessee, Des Moines, Meadows, White, fistfights, Nashville, West Monroe, La, Louisiana, drumbeating, Tom Cotton of Arkansas, Delaware

Alcoholic beverage company Diageo will see limited upsides ahead, says Goldman Sachs. "With muted growth in the US, we see limited positive catalysts for Diageo and thus limited scope for earnings upgrades for the group," said Nicolaï. To be sure, he noted that if the company's U.S. market share gains accelerated, the company could strongly outperform the rest of the market. Goldman expects negative worsening volume trends and a weaker pricing outlook for U.S. spirits wholesalers over the next six months. The firm noted that "the secular premiumization trend is expected to be on hold after strong gains in 2020–2022."

Persons: Goldman Sachs, Oliver Nicolaï, Nicolaï, Goldman, — CNBC's Michael Bloom Organizations: Diageo Locations: U.S, FY23e

[1/2] Denmark's Prime Minister and head of the Social Democrats Mette Frederiksen speaks on the Workers' International Day at Arbejdermuseet (The Workers Museum) in Copenhagen, Denmark, May 1, 2023. "There is great respect in Europe for the work she has done as prime minister and for the person she is in international cooperation," he said. Frederiksen, a career politician who is also head of the Social Democratic Party, became the youngest-ever Danish prime minister in 2019. Many see her as too dominant and hungry for power," former Danish defence and justice minister Hans Engell told Reuters. When former U.S. President Donald Trump in 2019 proposed buying Greenland, a sovereign territory of the Kingdom of Denmark, Frederiksen dismissed the offer as "absurd".

Persons: Mette Frederiksen, Ritzau Scanpix, Emil Nicolai Helms, Frederiksen, Biden, Monday Frederiksen, Joe Biden, Jens Stoltenberg, Jonas Gahr Store, Jacob Kaarsbo, Hans Engell, Donald Trump, Tayyip Erdogan, Viktor Orban, Engell, Jacob Gronholt, Pedersen, Louise Breusch Rasmussen, Sharon Singleton Organizations: Denmark's, Social, Workers, The Workers Museum, REUTERS, NATO, U.S, Atlantic Treaty Organization, Social Democratic Party, Reuters, Hungary's, Thomson Locations: Copenhagen, Denmark, Ukraine, COPENHAGEN, Washington, NATO, Russia, Europe, Nord, Greenland, Kingdom of Denmark

☆ Norway's sovereign wealth fund chief seeks state regulation of AI, Financial Times reports
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +1 min

April 28 (Reuters) - Norway sovereign wealth fund's CEO Nicolai Tangen has called upon governments to speed up the regulation of artificial intelligence (AI), the Financial Times reported on Friday. The $1.4-trillion wealth fund, the world's largest, is set to reveal guidelines in August on how the companies it invests in should use AI ethically, Tangen told the newspaper in an interview. The Government Pension Fund Global operates under ethical guidelines set by parliament and excludes investments in companies that it says does not respect the guidelines. Norges Bank, the country's central bank, holds stakes in more than 9,200 companies globally through the wealth fund. Reporting by Urvi Dugar in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ Norway’s giant sovereign wealth fund says there’s money to be saved by identifying ‘rotten apples’
▼ + stars: | 2023-04-18 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

Norges Bank Investment Management CEO Nicolai Tangen says it is becoming increasingly important to identify as many "rotten apples" as it can. Norway's gigantic sovereign wealth fund believes it is becoming increasingly important to identify as many "rotten apples" as possible, saying there is money to be saved by reducing risks to companies whose state of health is not all as it seems. "We think it's becoming more and more important to put resources into finding what I call the 'rotten apples.' The Jan. 24 report accused Adani Group companies of "brazen stock manipulation and accounting fraud" — allegations that the conglomerate has denied. We'll never be able to spot all of the 'rotten apples', but we can try to find as many as we can."

OSLO, April 12 (Reuters) - A court in Oslo on Wednesday began hearing a gender discrimination case brought by an employee at Norway's $1.4 trillion sovereign wealth fund against her employer. Elisabeth Bull Daae, head of trading analytics at Norges Bank Investment Management, is suing the unit of the central bank managing the fund for 16 million crowns ($1.54 million) in compensation and damages. The central bank, which pushes the firms it invests in to have more women on their boards and to combat all forms of discrimination, denies the allegations. Or are we in front of a clear, systematic case of pay discrimination based on gender?" The lawyer representing the fund said the relationship between employee and employer had broken down despite its efforts to improve it.

☆ Microsoft cofounder Bill Gates says the rise of AI poses a threat to Google's search engine profit
▼ + stars: | 2023-02-22 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Bill Gates said in a podcast Google's search engine profits could fall as Microsoft moves into AI. Gates said AI is the "biggest thing in this decade" and could reshuffle the tech space. Microsoft unveiled an AI-powered Bing in a challenge to Google's search engine dominance. His comments came two weeks after Microsoft unveiled an AI-powered version of its Bing search engine, which pits itself as a challenger to Google's dominance in the search space. Just as Microsoft launched Bing, Alphabet — Google's parent company — also unveiled an AI service called Bard.

☆ Norway wealth fund posts record $164 bln loss
▼ + stars: | 2023-01-31 | by ( Victoria Klesty | ) www.reuters.com time to read: +2 min

[1/3] Norway wealth fund CEO Nicolai Tangen presents the results for 2022, at a news conference in Oslo, Norway January 31, 2023. The previous largest loss was 633 billion crowns in 2008. The loss ends a record-breaking streak for the fund, where annual returns exceeded one trillion crowns in each of the three years from 2019 to 2021, amounting to more than four trillion crowns combined. Reuters GraphicsStill, despite the record loss, the value of the fund rose overall, by 89 billion crowns or $8.9 billion year-on-year, partly due to the weak Norwegian currency and partly due to record 1.1 trillion crowns of cash inflows into the fund. The inflows in 2022 were nearly three times the previous record, of 386 billion crowns, set in 2008.

☆ Norway's gigantic sovereign wealth fund loses a record $164 billion, citing 'very unusual' year
▼ + stars: | 2023-01-31 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

Norway's sovereign wealth fund was established in the 1990s to invest the surplus revenues of the country's oil and gas sector. Norway's sovereign wealth fund on Tuesday reported a record loss of 1.64 trillion Norwegian kroner ($164 billion) for the whole of 2022, citing "very unusual" market conditions. The $1.3 trillion fund was established in the 1990s to invest the surplus revenues of Norway's oil and gas sector. Norway's vast North Sea oil and gas reserves are the bedrock of the fund's wealth. Indeed, the country's skyrocketing fossil fuel revenues amid Russia's war in Ukraine have prompted an impassioned debate about international justice.

☆ Norway wealth fund posts record $164 billion loss
▼ + stars: | 2023-01-31 | by ( Victoria Klesty | ) www.reuters.com time to read: +3 min

[1/3] Norway wealth fund CEO Nicolai Tangen presents the results for 2022, at a news conference in Oslo, Norway January 31, 2023. The previous largest loss was 633 billion crowns in 2008. It ends a record-breaking streak for the fund, where annual returns exceeded one trillion crowns in each of the three years from 2019 to 2021, amounting to more than four trillion crowns combined. Still, despite the record loss, the value of the fund rose overall by 89 billion crowns or $8.9 billion year-on-year, partly due to the weak Norwegian currency and a record 1.1 trillion crowns of cash inflows. The inflows in 2022 were nearly three times the previous record, of 386 billion crowns, set in 2008.

☆ This Retailer’s Lifeblood Was Cheap Plastic Toys. Now It Wants to Switch to Wood.
▼ + stars: | 2022-12-23 | by ( Trefor Moss | Photographs Tobias Nicolai For The Wall Street Journal | ) www.wsj.com time to read: 1 min

COPENHAGEN—Denmark, the home of Lego, once pioneered the plastic toy. Now one of the country’s biggest toy retailers wants to ditch plastic and go back to wood and other natural materials. Variety-store chain Flying Tiger Copenhagen has grown rapidly across Europe by offering an eclectic mix of cheap toys, gadgets and household items that are often made of plastic. Typical items include a remote-controlled dinosaur for roughly $19, a set of six stick-on mustaches for $4 or a pair of fluffy unicorn slippers for $13.

☆ Danish PM picks right-leaning rivals as key ministers in new government
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +1 min

COPENHAGEN, Dec 15 (Reuters) - Denmark's Social Democratic Prime Minister Mette Frederiksen on Thursday appointed right-leaning political rivals as key ministers in her new reform-oriented bipartisan government. Opposition leader Jakob Ellemann-Jensen of the Liberal Party was appointed deputy prime minister and defence minister, while former prime minister and leader of the newly formed Moderates party, Lars Lokke Rasmussen, was appointed foreign minister. Nicolai Wammen of the Social Democratic Party retained his role as finance minister. Outgoing climate minister Dan Jorgensen will now head a new ministry for development cooperation and global climate policy. Reporting by Jacob Gronholt-Pedersen and Nikolaj Skydsgaard; Editing by Frank Jack Daniel and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

☆ The Højgaard twins: Mistaken identity and making history
▼ + stars: | 2022-10-13 | by ( Jack Bantock | ) edition.cnn.com time to read: +5 min

Welcome to life on Tour as the identical Højgaard twins, the 21-year-old rising stars of Danish golf. Richard Heathcote / Getty ImagesDays later, congratulations once again poured in for Nicolai, but this time there was no case of mistaken identity. Playing via a last-minute invite to the event, a one-stroke triumph at Marco Simone Golf Club secured him his maiden European Tour win and wrote the Højgaard name into the history books as the first brothers to win back-to-back Tour events. Nicolai celebrated his first Tour win at the Italian Open. “That would be a cool experience to share with Nicolai as well, maybe play a foursome together.”

☆ 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.

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