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OSLO, June 1 (Reuters) - The U.S. will open its northernmost diplomatic station in the Norwegian Arctic town of Tromsoe, Secretary of State Antony Blinken said on Thursday, at a time when cooperation among the Arctic nations has been hit by Russia's invasion of Ukraine. "For us, the presence post in Tromsoe is really an ability to have a diplomatic footprint above the Arctic Circle," he said. It comprises the eight Arctic states of Russia, the United States, Canada, Finland, Norway, Iceland, Sweden and Denmark. Cooperation between the Western Arctic states and Moscow on the Arctic body is frozen since the invasion of Ukraine. "Our entire approach is to make sure that the Arctic remains an area of peaceful cooperation," he said.

Persons: Antony Blinken, Blinken, Gwladys Fouche, Terje Solsvik, Sriraj Kalluvila, Mark Potter Organizations: Arctic Council, Cooperation, Thomson Locations: OSLO, U.S, Norwegian, Tromsoe, Ukraine, United States, American, Oslo, Norway, Russia, Canada, Finland, Iceland, Sweden, Denmark, Moscow

OSLO, June 1 (Reuters) - NATO Secretary-General Jens Stoltenberg said on Thursday he would soon travel to Turkey to discuss Sweden's NATO membership, in a bid to close a process that has been delayed due to objections from member countries Turkey and Hungary. Speaking during a two-day meeting of NATO foreign ministers in Oslo, Stoltenberg said he had spoken to Tayyip Erdogan earlier this week, who at the weekend won re-election as Turkey's president. "I will also travel to Ankara in the near future to continue to address how we can ensure the fastest possible accession of Sweden," Stoltenberg told reporters. "It is time for Turkey and Hungary to start the ratification of Swedish membership to NATO." Several NATO foreign ministers expressed confidence Sweden could become a member before, or at, a NATO summit in Vilnius, Lithuania, in July.

Persons: Jens Stoltenberg, Stoltenberg, Tayyip Erdogan, Sweden, Tobias Billstrom, Gabrielius Landsbergis, Gwladys Fouche, Sabine Siebold, Terje Solsvik Organizations: NATO, Lithuanian, Thomson Locations: OSLO, Turkey, Hungary, Oslo, Ankara, Sweden, Swedish, Vilnius, Lithuania

"All allies agree that Moscow does not have a veto against NATO enlargement," Stoltenberg told reporters as NATO foreign ministers gathered in Oslo, seeking to dispel any signs of discord ahead of the summit. At the Vilnius summit, NATO leaders aim to send a strong message of support to Kyiv. But with only six weeks to go, pressure is building for allies to find common ground on what exactly to offer Ukraine. Lithuania's Foreign Minister Gabrielius Landsbergis said Kyiv had suffered two invasions while waiting for an answer from NATO for 14 years. "Ukraine needs to get a clear path, and the next steps, on how to enter NATO," Estonian Foreign Minister Margus Tsahkna said.

Persons: Jens Stoltenberg, Stoltenberg, Volodymyr Zelenskiy, Gabrielius Landsbergis, Margus Tsahkna, Annalena Baerbock, Luxembourg's Jean Asselborn, Sabine Siebold, Gwladys Fouche, Terje Solsvik, Benoit Van Overstraeten, Bart Meijer, Charlotte Van Campenhout, Alezander, Boldizsar, Bart H, Meijer, Ros Russell Organizations: NATO, Kyiv, Ukraine, Lithuania's, Estonian, Thomson Locations: OSLO, Moscow, Ukraine, Vilnius, Oslo, Moldova, Kyiv, Europe, United States, Germany, Russia, Estonian, Luxembourg, Hungary, NATO, Brussels, Alezander Tanas, Chisinau, Olena, Budapest

☆ Novo Nordisk: trial data of oral weight-loss drug comparable to Wegovy
▼ + stars: | 2023-05-22 | by ( Louise Rasmussen | ) www.reuters.com time to read: +3 min

The results are another boost for Novo Nordisk whose weekly Wegovy injection has transformed the weight-loss market since its U.S. launch in June 2021, capturing the attention of patients, investors and even celebrities worldwide. The Danish drugmaker said in a statement that the headline results were statistically significant and showed superior weight loss when compared to a placebo. A global launch of the oral 50 milligram (mg) semaglutide drug is contingent on portfolio prioritisations and manufacturing capacity, the company added without giving further details. The results are comparable to the company's Wegovy injection, said Martin Holst Lange, head of development at Novo Nordisk. Novo Nordisk has had supply issues and struggled to keep up with soaring U.S. demand for Wegovy.

☆ Volvo wins record order for electric trucks from Holcim
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: 1 min

OSLO, May 22 (Reuters) - Volvo Trucks (VOLVb.ST) said on Monday it has signed a letter of intent to sell 1,000 electric trucks to Swiss building solutions provider Holcim (HOLN.S) for delivery in the next seven years. "The deal is the largest commercial order to date for Volvo electric trucks," Volvo said in a statement. The first 130 trucks will be delivered during the fourth quarter of 2023 and throughout 2024 to markets including France, Germany, Switzerland and Britain, among others. By replacing 1,000 diesel trucks with electric versions using green electricity could save up to 50,000 tons of carbon dioxide emissions every year, Volvo said. Reporting by Terje Solsvik, editing by Anna RingstromOur Standards: The Thomson Reuters Trust Principles.

☆ Sweden should be admitted to NATO in July, Norway PM says
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: 1 min

OSLO, May 22 (Reuters) - NATO's Vilnius summit in July should give approval for Sweden to become a member of the organisation, Norwegian Prime Minister Jonas Gahr Stoere told foreign correspondents in Oslo on Monday. Reporting by Gwladys Fouche and Nora Buli, editing by Terje SolsvikOur Standards: The Thomson Reuters Trust Principles.

☆ Equinor, Shell and Exxon agree LNG project with Tanzania
▼ + stars: | 2023-05-19 | by ( Terje Solsvik | ) www.reuters.com time to read: +2 min

OSLO, May 19 (Reuters) - Equinor (EQNR.OL), Shell (SHEL.L) and Exxon Mobil (XOM.N) have agreed a deal with the government of Tanzania for the development of a liquefied natural gas (LNG) export terminal in the East African country, the two sides said on Friday. "It paves the way for the series of milestones that need to follow to realise this fantastic LNG opportunity for the country and the world," Equinor's Tanzania country manager Unni Fjaer said in a statement. Equinor and Shell are joint operators of the development while Exxon, Pavilion Energy, Medco Energi and Tanzania's national oil company TPDC are partners. Tanzania said in 2014 that the project could cost $30 billion to develop, but analysts have said cost inflation in recent years could add billions more to the investment. Shell operates Tanzania's Block 1 and Block 4, which hold 16 trillion cubic feet in estimated recoverable gas.

☆ Ex-Wagner commander who sought asylum in Norway wants to return to Russia
▼ + stars: | 2023-05-17 | by ( Nerijus Adomaitis | ) www.reuters.com time to read: +2 min

[1/2] Former Wagner commander Andrei Medvedev is pictured in court with his lawyer Brynjulf Risnes (not pictured), in Oslo, Norway April 25, 2023. REUTERS/Gwladys FoucheOSLO, May 17 (Reuters) - A former commander of Russia's Wagner group who sought asylum in Norway after crossing the Russian-Norwegian border in January said on Wednesday he wanted to return to Russia even though he believed this could pose a risk to his life. I've contacted the Russian embassy in Oslo for help, to facilitate my return," Medvedev said in one of five short videos, adding that he made this decision on his own. He escaped Russia via its Arctic border with Norway in January. He told Reuters at the time he was looking to the future, studying Norwegian and hoping to get asylum.

☆ British Air Force to guard Iceland during Council of Europe summit
▼ + stars: | 2023-05-14 | by ( ) www.reuters.com time to read: +1 min

The May 15-19 airspace protection agreement signed by the two countries will provide security before, during and after a summit of the Council of Europe, the continent's leading human rights watchdog, which is meeting in Iceland on May 16 and 17. British Prime Minister Rishi Sunak is among the government leaders expected to attend the meeting of the 46-nation council. The summit will be the largest international event held in Iceland, according to the government. The island nation situated in the North Atlantic ocean has a population of fewer than 400,000 people and no standing army or air force of its own. Reporting by Terje Solsvik in Oslo Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Norway's King Harald in hospital with infection, condition stable
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: 1 min

OSLO, May 8 (Reuters) - Norway's King Harald has been hospitalised to receive treatment for an infection, the royal household said in a statement on Monday. The 86-year-old monarch was in a stable condition and will remain in hospital for a few days, it added. The king had been due to attend a ceremony in Oslo on Monday commemorating the end of World War Two. King Harald has been Norway's ceremonial head of state since 1991. Reporting by Terje Solsvik, editing by Essi LehtoOur Standards: The Thomson Reuters Trust Principles.

☆ Equinor, partners to invest $9 bln in new gas field off Brazil
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +1 min

OSLO, May 8 (Reuters) - Equinor (EQNR.OL) and its partners have decided to invest about $9 billion to develop the BM-C-33 gas and condensate discovery off Brazil Norwegian company said on Monday. The field which is estimated to hold more than one billion barrels of recoverable oil equivalent is expected to start production in 2028. "Gas exported from the project could represent 15% of the total Brazilian gas demand at start-up," Equinor said in a statement. Gas from the offshore field will be directly injected into the national gas grid via a 200 kilometres pipeline landing at the city of Macae in the state of Rio de Janeiro. Equinor has a 35% stake in the project, while Repsol Sinopec (REP.MC)(600028.SS) holds 35% and Petrobras (PETR4.SA) the remaining 30%.

☆ Bet365 must pay compensation to Danish soccer star Eriksen and others, court finds
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +1 min

The owner of Bet365, Malta-based Hillside Plc, was ordered to pay 4.7 million Danish crowns ($697,000) to the athletes, including badminton player and Olympic champion Viktor Axelsen, football player Simon Kjaer and goalkeeper Kasper Schmeichel. Manchester United midfielder Eriksen, whose image was used the most frequently according to the plaintiffs, was awarded the largest sum amounting to 1.45 million crowns, the verdict showed. While Bet365 had argued that its use of names and images should be regarded as editorial content, and was therefore not subject to payments, the court found instead that it amounted to marketing that required consent. Reuters was not immediately able to reach the company or its lawyers for comment. ($1 = 6.7433 Danish crowns)Reporting by Louise Breusch Rasmussen, editing by Terje Solsvik and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Volvo Cars to axe 1,300 jobs as it steps up cost cuts
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

[1/3] lectric-powered Volvo XC40 cars are seen at the Auto Zurich Car Show 2022 in Zurich, Switzerland November 10, 2022. REUTERS/Arnd WiegmannCOPENHAGEN, May 4 (Reuters) - Volvo Cars (VOLCARb.ST) will lay off around 1,300 office-based employees in Sweden as it steps up cost cutting, the Sweden-based auto maker said on Thursday. The 1,300 positions equate to 6% of Volvo Cars' workforce in Sweden. Rowan said he could not yet specify where those jobs would be cut, but that focus would primarily remain on office-based positions. Volvo Cars shares were down 3.87% at 0848 GMT.

☆ Novo Nordisk cuts some US supply of obesity drug Wegovy to cope with demand
▼ + stars: | 2023-05-04 | by ( Nikolaj Skydsgaard | ) www.reuters.com time to read: +3 min

SummarySummary Companies Novo halves supply of Wegovy starter doses in U.S. "To safeguard continuity of care, the supply of the lower Wegovy dose strengths in the US will be reduced temporarily," Novo said in a statement. Novo has faced supply constraints for its hugely popular Wegovy drug as a result of overwhelming demand, and has invested massively in increasing supply. Supply of starter doses in the U.S. would be cut by around 50% for "some months," Jorgensen added. Credit Suisse analysts said they were not surprised by the move, given the level of demand for the drug.

☆ Volvo Cars axes 1,300 jobs as it steps up cost cuts
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: 1 min

COPENHAGEN, May 4 (Reuters) - Volvo Cars (VOLCARb.ST) will lay off around 1,300 office-based employees in Sweden as it steps up its cost cutting, the Swedish auto maker said on Thursday. While the group's efficiency drive had begun to show results, more was needed, Chief Executive Jim Rowan said in a statement. "Economic headwinds, increased raw material prices and increased competition are likely to remain a challenge to our industry for some time," Rowan said. About 1,100 jobs will be cut at Volvo Cars' main global operating unit, Volvo Personvagnar, while the remaining 200 positions will be identified after a review of the company's entities across Sweden, the group said. Reporting by Louise Breusch Rasmussen, editing by Terje SolsvikOur Standards: The Thomson Reuters Trust Principles.

☆ Weight-loss drug maker Novo Nordisk beats earnings forecast
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

Companies Novo Nordisk A/S FollowCOPENHAGEN, May 4 (Reuters) - Danish drug developer Novo Nordisk (NOVOb.CO) on Thursday reported first-quarter operating profit above analyst forecasts, helped by sales in the United States of its hugely popular Wegovy weight-loss drug. Novo reported earnings before interest and taxes (EBIT) of 25 billion Danish crowns ($3.72 billion), above an average analyst forecast of 22.4 billion, according to a Refinitiv poll. Earlier this month, Novo, the second-most valuable company in Europe by market capitalisation, significantly raised its full-year operating profit and sales expectations on the back of strong demand for Wegovy. Novo on Thursday maintained the full-year growth guidance in local currencies. It specified that sales and operating profit growth reported in Danish crowns are now expected to be 6 and 9 percentage points lower than at local currencies, respectively.

The Ukrainian president cited prior examples of battlefield successes that were followed by Ukraine being granted new types of military aid. I would rather it was the other way round, as it would be easier for us, but it is like it is, and we are grateful for everything," the Ukrainian president said. "But we like your aircraft, just so you know Mr President," Zelenskiy quipped. "We need security guarantees today, while we are not in NATO," Zelenskiy said. A spokesperson for Zelenskiy in a statement said the Ukrainian government expected the summit to result in a joint statement.

☆ Denmark to make $250 mln donation to Ukraine for military use
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +1 min

COPENHAGEN, May 2 (Reuters) - Denmark will donate military equipment and financial support to Ukraine worth 1.7 billion Danish crowns ($250 million), the Nordic country's Defence Minister Troels Lund Poulsen said on Tuesday. The minister also said Denmark will reduce its military presence in Iraq starting in early-2024 and instead focus on the Baltic countries, offering NATO a battalion to defend the region. The rest of the year, the troops will remain in Denmark, ready to be deployed to the Baltic states in case of a crisis, the ministry of defence said. "We must be prepared for the Danish presence in the Baltics to be long-term, and there is a need for balancing between having soldiers on the ground and being ready to deploy them from Denmark," Poulsen said. ($1 = 6.8051 Danish crowns)Reporting by Louise Breusch Rasmussen, editing by Terje SolsvikOur Standards: The Thomson Reuters Trust Principles.

Norway has become Europe's largest supplier of gas, following a drop in Russian gas flows, which it supplies via a network of pipelines stretching some 9,000 kms (5,590 miles). "The state wants complete state ownership of the central parts of the Norwegian gas transport system," it said, without giving reasons. The gas pipeline network is owned by Gassled, a partnership set up in 2003 by the oil companies that were producing gas offshore Norway at the time. Gassled owns the Kaarstoe and Kollsnes processing plants as well as the majority of the pipelines delivering Norwegian gas to the European Union and Britain. Over time, the oil companies have reduced, or sold entirely their stakes, often selling to investment companies.

☆ Swedish industrial tech group Hexagon's profit rises more than expected
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +1 min

STOCKHOLM, April 28 (Reuters) - Industrial technology group Hexagon (HEXAb.ST) on Friday reported a bigger than expected rise in first-quarter adjusted profit as the company's sales increased and it managed to soften the effects of cost inflation and currency swings. The maker of measurement and positioning systems and software said adjusted operating profit came in at 372 million euros ($410 million) against a year-earlier 335 million, on organic sales growth of 8%. Analysts polled by Refinitiv had on average forecast a profit of 353 million euros. "Our operating margins remained highly resilient as the business mitigated ongoing challenges from both inflation and currency," CEO Paolo Guglielmini said in a statement. Hexagon said its adjusted operating profit margin was unchanged at 29%, positively impacted by product mix but squeezed by currency translation effects.

☆ Nordea Q1 profit tops forecast as interest rates rise
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +1 min

HELSINKI, April 27 (Reuters) - The Nordic region's biggest lender Nordea (NDAFI.HE) posted a larger than expected gain in first-quarter operating profits on Thursday, on the back of rising interest rates and despite weaker Nordic currencies. The rise in results followed a similar trend among other Nordic banks such as Swedish rival SEB (SEBa.ST), which on Wednesday beat market expectations and reported higher net interest income. The bank saw its net fee and commission income decline 8% year on year to 765 million euros. Net interest income climbed 35% to 1.77 billion euros. Nordea said individual net loan losses remained low despite the Nordic economies slowing and kept its management judgement buffer unchanged at 585 million euros.

☆ Swedbank Q1 profits beats expectations on better deposit margins
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +1 min

STOCKHOLM, April 27 (Reuters) - Swedish bank Swedbank (SWEDa.ST) reported first-quarter net profit above market expectations on Thursday and said higher deposit margins had boosted results, although credit impairments also rose. "The driving factor was higher net interest income, which strengthened thanks to higher deposit margins," he told a news conference. Higher interest rates have meant that Swedish banks have increased margins on their loan business. Swedbank, Sweden's biggest mortgage bank, said its net interest income, which includes revenues from mortgages, rose by 77% to 11.94 billion from a year-ago 6.76 billion, above the 11.37 billion expected by analysts. Swedbank said its credit impairments rose to 777 million crowns from 158 million a year ago, above the 386 million seen by analysts.

☆ Norway's DNB beats Q1 profit forecast as rates rise
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +2 min

OSLO, April 27 (Reuters) - DNB (DNB.OL), Norway's largest bank, reported a bigger-than-expected rise in first-quarter profit on Thursday, following a trend among Nordic banks benefiting from recent rate hikes. Net profit rose to 10.5 billion Norwegian crowns ($989.43 million) in the January-March quarter, from 7.6 billion crowns a year earlier, while analysts on average had expected 8.9 billion crowns, according to a poll compiled by the bank. Loans to customers increased 0.6% in the quarter while net interest income surged 39.8% to 14.6 billion crowns, just above analysts' average forecast of 14.5 billion, thanks to both increased volumes and interest rates. DNB said it had net reversals of impairment of financial instruments of 79 million crowns in the quarter compared with net reversals of 589 million in the year-earlier period. The net reversals in the oil, gas and offshore industry segment was 515 million in the quarter.

☆ Assa Abloy Q1 beats forecast helped by higher sales and lower costs
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: 1 min

Operating profit fell to 3.96 billion crowns from a year-earlier 4.00 billion. Analysts polled by Refinitiv had on average expected a profit of 3.69 billion crowns. Excluding restructuring costs the operating profit grew to 5.18 billion crowns. Assa Abloy said in a statement lower material costs, higher prices to customers, cost cuts and strong sales growth at in particular its Global Technologies and Americas divisions boosted profits. Group organic sales growth was 8%.

☆ Handelsbanken scores profit beat as interest income climbs
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

STOCKHOLM, April 26 (Reuters) - Swedish bank Handelsbanken (SHBa.ST) reported first-quarter net profit above market expectations on Wednesday on the back of climbing interest income and said its credit quality remained good against a backdrop of heightened uncertainty. Soaring inflation over the past year has seen central banks crank up key rates radically, boosting interest income for banks such as Handelsbanken, but also spurring their own costs and ramping up pressure on their customers and on property prices. The rival of Swedbank (SWEDa.ST), SEB (SEBa.ST) and Nordea (NDAFI.HE) said net profit totalled 6.81 billion Swedish crowns ($661.23 million) versus a year-ago 5.69 billion, topping a mean forecast 6.20 billion, according to Refinitiv estimates. The bank, whose main markets are Sweden, Norway and Britain, said its net interest income, which includes revenues from mortgages, rose to 11.49 billion from a year-ago 8.01 billion, above the 10.89 billion expected by analysts. Handelsbanken said its credit losses edged up to 30 million crowns from only 6 million a year ago, well below the 386 million seen by analysts.

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