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☆ Disney board seat for Nelson Peltz hinges on Vanguard, State Street, institutional investors
▼ + stars: | 2024-04-02 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

In 2015, Nelson Peltz's Trian Partners was defeated in an activist campaign against chemical firm DuPont , largely because the top three institutional shareholders voted against his slate. Nearly a decade later, those same institutional investors — Vanguard, State Street and BlackRock — are the three largest shareholders in Disney . Former Marvel chairman Ike Perlmutter has entrusted Peltz with his 33 million Disney shares, the bulk of the activist's 1.8% stake. Vanguard is the largest holder with 8% of outstanding Disney shares. In 2021, for example, 63% of Disney shareholders voted their shares, according to data analyzed by 13D Monitor.

Persons: Nelson Peltz's Trian, Bob Iger, Rowe Price, CNBC they're, Trian, Ike Perlmutter, Peltz, Neuberger Berman, Jones, Ken Squire, Squire, Innisfree, King Organizations: Nelson Peltz's Trian Partners, DuPont, — Vanguard, State Street, BlackRock, Disney, Wall Street, CNBC, Vanguard, State, Marvel, Trian Partners, 13D, Okapi Partners Locations: BlackRock, New York, California

☆ SLB to invest nearly $400 million in carbon capture company in push to scale technology
▼ + stars: | 2024-03-28 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

The oilfield services giant SLB , formerly known as Schlumberger, is aiming to accelerate the deployment of carbon capture technology through an investment in Norway's Aker Carbon Capture. SLB said late Wednesday that it will pay about $380 million, or 4.12 billion Norwegian kroner, for an 80% stake in the pure-play carbon capture company. SLB is targeting $3 billion in revenue from its new energy business by the end of the decade. CEO Olivier Le Peuch told analysts during the company's fourth-quarter earnings call that carbon capture and storage will be a leading contributor to that $3 billion target. SLB is participating in more than $400 million worth of tenders related to carbon capture and storage.

Persons: SLB, Olivier Le Peuch Organizations: Schlumberger Locations: Schlumberger, Aker

☆ 'Quiet luxury' was once all about fashion — but now it describes how the top 1% travel too
▼ + stars: | 2024-03-22 | by ( Helen Iatrou | Rob Goss | ) www.cnbc.com time to read: +4 min

Big-ticket travel experiences like those are indicative of the "quiet luxury" trend which began in the world of fashion, with timeless lines trumping brand-blaring outfits. Less limelight, more connectionJaclyn Sienna India, the founder of the ultra-luxury travel company Sienna Charles, said she considers herself a longtime quiet luxury disciple. Monaco has long been a playground for the elite, but wealthy travelers are increasingly opting for more remote locations, say luxury travel advisors. But another important aspect of the quiet luxury movement concerns security. For them, quiet luxury travel is about exclusivity and privacy, she said.

Persons: Jaclyn Sienna India, Sienna Charles, Vietnam's, Alexander Spatari, It's, Sean De Burca, George W, Bush, Erica, Erica Jackowitz, Jackowitz, Sienna India, Thomas Barwick, Roger Federer, Erica's Erica Jackowitz, Anastasiia Organizations: Monaco, Bank, Getty, Digitalvision, Henley, Partners Locations: Antarctica, Svalbard, Paris, Monaco, Chi Minh City, India, Brazil, Ethiopia, New York City, Africa

Norway has had massive success with EV adoption — 82% of new cars sold in the country in 2023 were electric, according to the Norwegian Road Federation. This high adoption rate can be attributed to the generous subsidies the Scandinavian country has offered to electric vehicle owners as well as its investment in charging infrastructure. Tesla's early foothold there has made Norway a pivotal proving ground for the company and a national model for electric vehicle transition. Norwegians were the first European customers to receive deliveries of the Tesla Model S in 2013. CNBC traveled to Norway to meet with local people, government officials and experts to find out how Tesla has become so successful in the Scandinavian country.

Persons: Elon Musk, Tesla Organizations: Norwegian Road Federation, Nordic, Tesla, Toyota, Skoda, Volkswagen, CNBC Locations: Norway

☆ Many of the world’s happiest countries are also the best for women, research shows—here’s why
▼ + stars: | 2024-03-12 | by ( Morgan Smith | ) www.cnbc.com time to read: +4 min

The UN Sustainable Development Solutions Network, the organization behind the World Happiness Report, uses six factors to score countries' happiness: social support, income, health, freedom, generosity and absence of corruption. The WEF compares countries' gender gaps across four dimensions: economic opportunities; educational attainment; health and survival; and political empowerment. It's no coincidence that the world's happiest countries also champion gender equality socially and economically. How Nordic countries use social policies to promote gender equality and happinessIn its research, the WEF establishes a clear correlation between social policies, families' happiness and women's career advancement. The Nordic countries — Iceland, Sweden, Finland and Norway — have some of the most generous paid leave policies for parents in the world.

Persons: Alexa, Norway's, Linda Akeson McGurk, McGurk Organizations: UN Sustainable Development Solutions, Sweden, Organisation for Economic Co, Development Locations: American, Bergen, Norway, Iceland, Finland, Sweden, New Zealand, U.S, Swedish

☆ The North Sea could become a 'central storage camp' for carbon waste. Not everyone likes the idea
▼ + stars: | 2024-03-04 | by ( Sam Meredith | Www.Linkedin.Com In Samuelmeredith | ) www.cnbc.com time to read: +7 min

The receiving dock at the Northern Lights carbon capture and storage project, controlled by Equinor ASA, Shell Plc and TotalEnergies SE, at Blomoyna, Norway, on Friday, Jan. 19, 2024. Offshore carbon capture and storage (CCS) refers to a range of technologies that seek to capture carbon from high-emitting activities, transport it to a storage site and lock it away indefinitely under the seabed. Storage tanks at the Northern Lights carbon capture and storage project, controlled by Equinor ASA, Shell Plc and TotalEnergies SE, at Blomoyna, Norway, on Friday, Jan. 19, 2024. Bloomberg | Bloomberg | Getty ImagesNorway has a long history of carbon management. Bloomberg | Bloomberg | Getty Images"There is definitely a public acceptance risk to storing CO2 onshore.

Persons: Terje Aasland, Aasland, Norway's Aasland, Børre Jacobsen, —, Jacobsen Organizations: Equinor ASA, Shell Plc, Bloomberg, Getty, Norway's Energy, CCS, Institute for Energy Economics, Workers, Northern Lights, Shell, Northern, Venture, CNBC, videoconference Locations: Blomoyna, Norway, Europe, videoconference, Brevik, Norwegian, Sleipner, U.S, Norway's, Longship

☆ Putin gave Kim Jong Un a luxury Russian car, deepening their war bromance and ignoring sanctions to do it
▼ + stars: | 2024-02-20 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +4 min

Putin gifted Kim Jong Un a luxury Russian car, defying UN sanctions. AdvertisementRussian President Vladimir Putin gifted North Korea's leader Kim Jong Un a luxury Russian car, openly defying UN sanctions and strengthening the two leaders' close bond. "North Korea is our neighbor, our close neighbor, and we intend, and will continue, to develop our relations with all neighbors, including North Korea." AdvertisementWPK officials, including Kim Jong Un's sister, Kim Yo Jong, accepted the car on his behalf on Sunday, state news outlet KCNA reported. This wouldn't be the first time Kim Jong Un has gotten around the sanctions.

Persons: Putin, Kim Jong, —, Vladimir Putin, Dmitry Peskov, Kim, Mikhail Svetlov, Peskov, Kim Yo Jong, Kamala Harris Organizations: Service, North, Reuters, Russia's Vostochny, Royce, Maybach, Lexus, Ukraine, Norway's Intelligence Service, US Army, Africa Command, NATO, Munich Locations: North Korea, Russia's, Russia's Vostochny Cosmodrome, Korea, Russia, China, Belarus, Iran, Europe, Ukraine, Africa, Germany

☆ US Army says it could run out of funding to protect Europe and Africa without Ukraine's aid package
▼ + stars: | 2024-02-19 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +6 min

Read previewA US Army official has warned that it could run out of money for essential international global operations if the government fails to provide further funding for Ukraine. The unnamed official told CNN that the Army is spending hundreds of millions of dollars to support Ukraine, including funds that were initially intended to be used as part of the Europe and Africa Command budget. The Senate last week passed a $95 billion emergency defense-aid bill that could support Ukraine, Israel, and Tawain. A spokesperson for the US Army told BI that "it's important we receive money — now." AdvertisementThe Army official told CNN that it "would cease to exist" if funds weren't allocated from another area within the overall budget.

Persons: —, Diego Herrera Carcedo, isn't, Kamala Harris's, Army Christine Wormuth, Peter, Paul, I'm, Wormuth, Kostiantyn, Oleksandr Syrskyi, Trump, Nancy Pelosi, Putin, YURI KADOBNOV Organizations: Service, US Army, Ukraine, CNN, Army, Africa Command, Business, Republicans, US Command, Anadolu Agency, Getty, BI, NATO, Munich, Armed Forces of, Facebook, Norway's Intelligence Service, Sky News, Trump, Morris Air National Guard Base Locations: Ukraine, Europe, Israel, Africa, Ukrainian, Donetsk Oblast, Germany, Ukraine Ukraine, Russia, Avdiivka, Armed Forces of Ukraine, China, Belarus, Iran, North Korea, Helsinki, US Army Europe, Arizona

☆ What the U.S. can learn from Norway when it comes to EV adoption
▼ + stars: | 2024-02-17 | by ( Jeniece Pettitt | ) www.cnbc.com time to read: +1 min

Norway boasts the highest electric vehicle adoption rate in the world. Some 82% of new car sales were EVs in Norway in 2023, according to the Norwegian Road Federation (OFV). In comparison, 7.6% of new car sales were electric in the U.S. last year, according to Kelley Blue Book estimates. In the world's largest auto market, China, 24% of new car sales were EVs in 2023, according to the China Passenger Car Association. So that's a big advantage," said Petter Haugneland, the assistant secretary general of the Norwegian EV Association.

Persons: Kelley, Ragnhild Syrstad, Syrstad, Petter Haugneland Organizations: Norwegian Road Federation, China Passenger Car Association, Norwegian Ministry of, Norwegian EV Association . CNBC Locations: Norway, U.S, China, Norwegian, Oslo

It was the third mishap in two weeks reported at Norway's main airport. Two of the three recent incidents at the airport "have occurred as a result of pushback from the same gate,” Oslo airport spokeswoman Monica Iren Fasting told the AP. A spokesperson for the carrier, Tonje Sund, told Norwegian newspaper VG that the plane received damage that grounded it. Photos You Should See View All 22 ImagesOn Feb. 2, a Norwegian airline plane bound for Stockholm collided with a fence at the same gate. On Tuesday, another Norwegian plane headed for Kristiansand hit another airplane, clipping its wing.

Persons: Monica Iren Fasting, Tonje Sund, Charlotte Holmbergh, “, Holmbergh Organizations: Scandinavian Airlines, Associated Press, AP, Norwegian, VG, Kristiansand Locations: COPENHAGEN, Denmark, Oslo, Norway's, Stockholm, Gardermoen, Norwegian

☆ Russia's military alliances are giving it a major edge — just as Ukraine's are faltering
▼ + stars: | 2024-02-14 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +6 min

A closer relationship with ChinaChina and Russia have deepened their military ties in recent years with the help of arms sales and joint military exercises. It has hosted Russian military drills, soldiers, and equipment, and enabled the transportation of Russian weapons close to Ukraine's borders. The situation is looking bleak for UkraineThe support from Russia's allies matters, especially when paired with the country's soaring defense budget. Its military appears to have a major edge over Ukraine as the country's financial and military support from its allies is faltering. Meanwhile, on Tuesday, the Senate passed a $95 billion emergency defense-aid bill that could support Ukraine, Israel, and Tawain — but the bill is expected to face stiff opposition by Republicans, BI previously reported.

Persons: —, That's, Vladimir Putin, Mikhail Klimentyev, Nils Andreas Stensones, Stensones, Trump, Putin, YURI KADOBNOV, Patrick Bury Organizations: Ukraine, Service, Norway's Intelligence Service, Sputnik, Moscow Times, UN, North, European Council, Foreign Relations, UK's Ministry of Defence, Reuters, University of Bath, Putin, Trump, Republicans Locations: Russia, Ukraine, China, Belarus, Iran, North Korea, Europe, Ukrainian, China China, Japan, Russian, Ukraine's, Helsinki, Israel

☆ An amazing photo of a polar bear napping on an iceberg is driving a conversation about the climate crisis
▼ + stars: | 2024-02-08 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +1 min

This image of a napping polar bear won an international photography contest. Amateur photographer Nima Sarikhani took the image to inspire "hope" for the planet's future. AdvertisementAn image of a young polar bear napping on an iceberg is focusing minds on vanishing polar habitats. The image won the Wildlife Photographer of the Year People's Choice Award, hosted by London's Natural History Museum. Amateur photographer Nima Sarikhani took the photo during a three-day expedition off Norway's Svalbard archipelago.

Persons: Nima Sarikhani, Sarikhani Organizations: Wildlife, Business

☆ Sequoia-backed fintech Pennylane just became a unicorn. Check out the 15-slide pitch deck it used to raise $43 million.
▼ + stars: | 2024-02-08 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

French accounting tech startup Pennylane has raised $43 million in a deal that valued the business at over $1 billion. Founded in 2020, Pennylane works with SMEs and accounting firms to simplify and digitize their accounting processes. The company's SaaS model pulls third-party data from platforms like Stripe and Qonto, to help SMEs with their accounting needs. This story is available exclusively to Business Insider subscribers. "We've seen very strong growth in users and revenues, without having to grow our sales and marketing spend," Waller told Business Insider.

Persons: Pennylane, Arthur Waller, Waller, it's, Visma Organizations: Business, Sequoia Locations: Paris, Pennylane

☆ Norway's giant wealth fund touts possibility of Novo Nordisk, Eli Lilly joining the trillion-dollar club
▼ + stars: | 2024-01-31 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

A pharmacist displays boxes of Ozempic, a semaglutide injection drug used for treating type 2 diabetes made by Novo Nordisk, at Rock Canyon Pharmacy in Provo, Utah, U.S. March 29, 2023. Norway's giant wealth fund, the world's largest, touted the possibility that Danish drugmaker Novo Nordisk and U.S. rival Eli Lilly could be on course to become the first healthcare members of the trillion-dollar club. Novo Nordisk, Europe's largest firm by market capitalization, on Wednesday reported stronger-than-anticipated 2023 earnings, as sales of its hugely popular drug Wegovy continued to soar. The largest pharmaceutical company in the world by market value, Eli Lilly currently stands at roughly $612 billion. NBIM, the world's biggest single stock market investor, holds a 2.5% stake in Novo Nordisk and a 0.98% stake in Eli Lilly, according to LSEG data.

Persons: Eli Lilly, Wegovy, Gemma Game, Eli Lilly's Zepbound Organizations: Novo Nordisk, Pharmacy, Norges Bank Investment Management, Nordisk's Ozempic Locations: Provo , Utah, U.S, Danish, Europe's

☆ World's largest sovereign wealth fund posts record $213 billion profit, boosted by tech stocks
▼ + stars: | 2024-01-30 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Norway's giant sovereign wealth fund on Tuesday reported record profit of 2.22 trillion kroner ($213 billion) in 2023, supported by robust returns on its investments in technology stocks. "Despite high inflation and geopolitical turmoil, the equity market in 2023 was very strong, compared to a weak year in 2022," Nicolai Tangen, chief executive of Norges Bank Investment Management, said in a statement. Norway's sovereign wealth fund, the world's largest, was established in the 1990s to invest the surplus revenues of the country's oil and gas sector. Last year, Norges Bank Investment Management said its return on equity investments was 21.3%, its return on fixed income investments came in at 6.1%, while investments in unlisted real estate returned -12.4%. The fund said a negative year for its unlisted real estate investments was due to rising interest rates and subdued demand.

Persons: Nicolai Tangen, Norges Bank Investment Management's Tangen Organizations: Fund, Norges Bank Investment Management, Technology, Norges Bank Investment Locations: America, China

STAVANGER (AP) — Norway’s oil fund reported the largest annual return in its history Tuesday, a performance led by U.S. technology companies and Danish pharmaceutical company Novo Nordisk, which makes the diabetes-turned-weight loss drug Ozempic. Norway’s Government Pension Fund Global, the world’s largest sovereign wealth fund, said it also benefited in 2023 from market excitement over the rapid adoption of artificial intelligence technology such as ChatGPT. The six largest contributors to the fund’s growth were the U.S technology companies Microsoft, Apple, NVIDIA, Meta, Amazon and Alphabet. Nova Nordisk also makes a higher dose version of the same medication that is sold as a weight loss drug under the brand name Wegovy. Political Cartoons View All 253 ImagesThe Government Pension Fund Global, known commonly as the Oil Fund, invests Norway's profits from oil and gas, and owns around 1.5% of all the companies listed globally.

Persons: Nicolai Tangen, Tesla, Ozempic Organizations: STAVANGER, Novo Nordisk, Fund, Oil, Microsoft, Apple, NVIDIA, Meta, Nova Nordisk, Nordisk, Government Pension Fund, Oil Fund Locations: U.S, Danish, Norway’s, Norway, Denmark

☆ Norway defends deep-sea mining, says it may help to break China and Russia's rare earths stronghold
▼ + stars: | 2024-01-29 | by ( Sam Meredith | ) www.cnbc.com time to read: +7 min

Ocean Rebellions protest The Deep Sea Says No Why the deep sea? (Photo by Charles M. Vella/SOPA Images/LightRocket via Getty Images) Sopa Images | Lightrocket | Getty ImagesNorway says its controversial decision to approve deep-sea mining is a necessary step into the unknown that could help to break China and Russia's rare earths dominance. "We have been looking into the seabed minerals opportunity for a long time. Campaigners fear that exploration and exploitation activities in the deep sea could permanently alter a home that is unique to known — and many as yet unknown — species. "The argument put forward by the Norwegian government — and the deep-sea mining industry — that 'deep-sea mining can be done in a sustainable way' goes against the large consensus of scientific literature," Roux said.

Persons: Luciana, Charles M, Anne, Sophie Roux, Terje Aasland, Aasland, Arild Hermstad, Camille Etienne, Lucas Bravo, Javad Parsa, Norway's Aasland, Roux, — Organizations: SOUTH, Getty, IEA, Energy, CNBC, Afp, European Commission, Ocean Alliance, Lightrocket Locations: ROTTERDAM, SOUTH HOLLAND, NETHERLANDS, Norway, China, Europe, Russia, Norwegian, Vietnam, Brazil, Svalbard, French, Oslo

☆ Russia made a flashy upgrade to its cruise missiles since Ukraine shot down so many — but it likely won't help
▼ + stars: | 2024-01-24 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +5 min

Russia appears to have put decoy flares on its cruise missiles, a world first. AdvertisementRussia appears to be putting decoy flares on its cruise missiles to reduce how often Ukraine successfully shoots them down. A video at the end of December appeared to show a Russian Kh-101 cruise missile using decoy flares during an attack. Ballistic missiles, which are typically faster than cruise missiles and can have larger warheads, have used such flares in the past. Russia is trying to stop losing missilesRussia has been firing vast numbers of cruise missiles across Ukraine during its invasion.

Persons: —, Timothy Wright, Fabian Hoffmann, Hoffmann, It's, JUAN BARRETO, Wright, they'll, William Alberque, Alberque Organizations: Service, International Institute for Strategic Studies, Norway's University of Oslo, Russia, Getty Locations: Russia, Ukraine, Russian, Ukrainian, Bakhmut, Donetsk

☆ 'Huge knowledge gaps must be filled' before deep-sea mining, says Norwegian deputy foreign minister
▼ + stars: | 2024-01-24 | 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'Huge knowledge gaps must be filled' before deep-sea mining, says Norwegian deputy foreign ministerMaria Varteressian, deputy foreign minister of Norway, discusses Norway's decision to consider deep-sea mining for critical metals.

Persons: Maria Varteressian Locations: Norway

☆ Telenor CEO warns that AI will replace — and create — jobs: 'It's a shift'
▼ + stars: | 2024-01-17 | 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 EmailTelenor CEO warns that AI will replace — and create — jobs: 'It's a shift'Sigve Brekke, CEO of Norway's Telenor, discusses what telecommunications companies need to do to become AI-ready.

Persons: Brekke Organizations: Telenor

☆ DNB CEO: Many signs that we have reached top of the rate curve
▼ + stars: | 2024-01-17 | 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 EmailDNB CEO: Many signs that we have reached top of the rate curveKjerstin Braathen, CEO of Norway's largest bank DNB, said that there are "many signs saying that we have reached the top of the interest rate curve." However, she said the timeline for lowering rates was less certain.

☆ Norway poised to open vast ocean area to controversial deep-sea mining
▼ + stars: | 2024-01-09 | by ( Sam Meredith | ) www.cnbc.com time to read: +3 min

Activists take part at a "Look Down action" rally to stop deep sea mining outside the European Parliament in Brussels on March 6, 2023. In a parliamentary vote on Tuesday, lawmakers in the northern European country are expected to approve the government's proposal to open Norwegian waters for commercial-scale deep-sea mining. Critics say deep-sea mining is "extremely destructive," while scientists warn the full environmental impacts are hard to predict. Ocean Rebellions protest The Deep Sea Says No Why the deep sea? (Photo by Charles M. Vella/SOPA Images/LightRocket via Getty Images) Sopa Images | Lightrocket | Getty Images

Persons: Kenzo TRIBOUILLARD, KENZO TRIBOUILLARD, Kenzo Tribouillard, What's, Luciana, Charles M Organizations: Getty, Afp, Environmental Justice Foundation, European Commission, SOUTH Locations: Brussels, AFP, Norway, Svalbard, ROTTERDAM, SOUTH HOLLAND, NETHERLANDS

☆ Norway is gearing up to mine precious metals from the depths of its ocean in a world first
▼ + stars: | 2024-01-09 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +4 min

Norway is set to become the first country to move forward with deep-sea mining in its waters. Industry experts don't expect deep-sea mining to start before at least the early 2030s. It could open 108,000 square miles of Norway's national waters to commercial deep-sea mining, per the BBC. AdvertisementThe industry would seek to collect rare minerals like lithium, scandium, and cobalt from nodules and crust found on the ocean floors. AdvertisementThere are very few places in the world where these rare minerals can be found on the surface.

Persons: —, Energy Terje Aasland, Walter Sognnes, Lise Øvreås, Michael Norton, Odd Kristian Dahle Organizations: Service, BBC, Petroleum, Energy, Politico, European Union, Guardian, World Resources Institute, University of Bergen, EASAC, Association of Norwegian Fishermen, Democratic Locations: Norway, Norwegian, Democratic Republic of Congo

☆ Why America's Electric Car Push Isn't Working
▼ + stars: | 2024-01-03 | by ( Paris Marx | ) www.businessinsider.com time to read: +12 min

Electric vehicles were supposed to be inevitable. Auto execs who were once trumpeting the potential of electric cars are even publicly acknowledging that EVs aren't working . In September, 87% of new-vehicle sales were fully electric vehicles. Plus, heavier electric vehicles are harder on roads, produce more air pollution, and pose a greater safety risk for pedestrians. Time for a rethinkThe shift from gas-powered cars to electric vehicles is an opportunity to rethink how Americans get from place to place.

Persons: Joe Biden, Tesla, EVs —, EVs, Edward Niedermeyer, Niedermeyer, Ipsos, CarGurus, bode, Ketan Joshi, Joshi, Benjamin Sovacool, it's, Paris Marx Organizations: EV, Ford, General Motors, Honda, Auto execs, Industry, Tesla Motors, EVs, Cox Automotive, Strategic, Cox, Statistics Norway, Transportation Locations: Mexico, America, California, United States, Norway, Oslo, Norwegian, Paris

☆ Few things worry NATO like Russia's Yasen-class submarines, and Moscow may be planning to build even more of them
▼ + stars: | 2023-12-05 | by ( Christopher Woody | ) www.businessinsider.com time to read: +6 min

Despite high-profile losses, Russia's navy has been largely untouched by the war in Ukraine. Russian submarines, especially Yasen-class cruise-missile subs, are a top concern for NATO. A Russian defense industry source told state media outlet Tass in mid-2022 that Moscow was considering adding two more subs to the nine Yasen-class subs it had planned to build. AdvertisementYasen-class sub Severodvinsk during its launch ceremony at a shipyard in the city of Severodvinsk in June 2010. AdvertisementRussian Yasen-class sub Kazan at its home base in Severomorsk in June 2021.

Persons: —, Sasha Mordovets, Glen VanHerck, Lev Fedoseyev, Ine Eriksen Søreide, Jim Mattis, Severodvinsk, Adm, Michael Studeman, LPhot Dan Rosenbaum, Ben Key, what's Organizations: NATO, Service, Tass, US Northern Command, Zircon, Getty, Naval Sea Systems Command, US, Pentagon, CBS News, Chatham, of Naval Intelligence, Russia's, British Royal Navy, US Navy, British navy's Locations: Ukraine, Russian, Russia, Moscow, Northern, Pacific, Severodvinsk, Europe, North America, Severomorsk, Washington DC, NATO, Soviet, Western

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