Sweden

Nordic forward power rates fell on Wednesday on wetter weather forecasts and improving water reserves in the hydropowerdependent area. * The Nordic front-quarter agreement fell 1.3 euros to 37.7 euros per megawatt-hour (MWh) since 1049 GMT. * The Nordic front-year agreements lost 0.4 euros to 45.6 euros/MWh. * Prices are down as there is again forecast for wet weather which is putting pressure on the Nordic market, stated Axel Weyler, an originator at Entelios Trading AB. * Nordic water reserves offered 15 days ahead were seen at 16.90 terawatt hours (TWh) listed below typical, below 20.9 TWh listed below regular...

Nordic forward power rates increased on Monday, with frontquarter agreement striking a more than onemonth high, assisted by drier weather report in the hydropowerreliant region, higher spot prices and more powerful fuel markets. * The Nordic front-quarter contract climbed 2.1 euros to 35.80 per megawatt-hour (MWh) by 1152 GMT. * The Nordic front-year contracts got 0.75 euro to 45.00 euros/MWh. * The strong spot rates and we are reacting to the very strong market in the continent energy space and I think gas is the primary driver here, said Axel Weyler, an originator at Entelios Trading AB. * Carbon front-year...

Brazilian energy company Enauta hopes to sign a. deal by the end of the very first half to merge with fellow oil company. 3R Petroleum, its president informed on. Wednesday. Decio Oddone's remarks come as the 2 firms revealed they. had signed a memorandum of understanding to go on with a. proposed merger, which might produce a company possibly able. to produce more than 100,000 barrels of oil equivalent each day. Even more settlements are anticipated to move rapidly,. Oddone said in an interview, as both companies agree the merger. would be useful as the worldwide oil market undergoes a....

Brazilian energy company Enauta has actually presented an offer to combine with fellow oil company 3R Petroleum, which in turn said it had halted talks for a proposed tieup with competing PetroReconcavo to analyse the brand-new quote. Enauta revealed the deal late Monday, saying the integrated firm would be among the most varied independent oil and gas companies in Latin America, potentially producing more than 100,000 barrels of oil comparable per day. Shares in 3R Petroleum rose as much as 7.3% in early Tuesday trade in Sao Paulo, while Enauta's shares fell 6.3%. Criteria stock index Bovespa was near flat....

The following bids, mergers, disposals and acquisitions were reported by 1950 GMT on Wednesday: ** Energy storage company VTTI will get a 70% stake in Italy's biggest melted gas (LNG) terminal with grid operator Snam owning the rest, the Milan-listed group stated, announcing a deal to be finalised by year-end. ** The principles consultant to Norway's $1.6 trillion sovereign-wealth fund is assessing whether to recommend the financier to divest its multi-billion dollar stake in mining huge Rio Tinto for ecological concerns, the Wall Street Journal reported, mentioning people familiar with the matter. ** Abu Dhabi investor Lunate stated it had...

European stocks made a downbeat begin to the second quarter, pressed by health care shares, while investors parsed inflation data from the continent's. biggest economy Germany for hints on the timing of European. Central Bank rate of interest cuts. The continent-wide STOXX 600 closed 0.8% lower on. Tuesday, slipping to a one-week low after hitting an all-time. intraday high, with financiers returning after an extended. weekend and the Easter vacation. Speculation about imminent rates of interest cuts has persuaded. investors to purchase into risky properties in current weeks, even as the. benchmark index trades close to tape highs after notching...

Britain's FTSE 100 index is seen opening greater on Friday, with futures up 0.4%. * BP: The United Arab Emirates' state-owned oil company just recently thought about buying Britain's BP however the considerations did not advance beyond initial conversations, people acquainted with the matter told . * ASTRAZENECA: AstraZeneca shareholders on Thursday authorized a 2024 pay policy which will increase CEO Pascal Soriot's. remuneration to as much as 18.9 million pounds ($ 23.7 million). this year, however over a third of financiers revolted against the. huge amount. * OIL: Oil costs rose as increased tensions in the Middle. East raised...

Foreign business announced record levels of brand-new investment in Germany last year regardless of the economic recession and high energy prices, according to an analysis released on Tuesday by the federal advancement agency Germany Trade and Invest (GTAI). In 2023, commitments for brand-new facilities and expansions totalled 34.8 billion euros ($ 37.53 billion), surpassing the previous record level of 25.3 billion euros in 2022 by more than a third. The level of investment has actually increased visibly, Achim Hartig, handling director of GTAI, told . THE BIGGEST JOBS Eight tasks had a volume in the billions. Number one is the...

Nordic forward power prices fell on Monday, tracking lower rates in the larger continental power market and on a forecast of warmerthannormal weather in some parts of the region. * The Nordic front-quarter agreement was down 1.05 euros to 36.75 euros per megawatt-hour (MWh) since 11:39 GMT. * The Nordic front-year contracts lost 0.30 euro to 45.50 euros/MWh. * In neighbouring markets, European spot power costs fell as greater renewables supply was expected to surpass increasing need, while Dutch and British wholesale gas rates were blended. * Germany's Cal '25 baseload, Europe's standard contract, fell 0.90 euro to 92.60 euros/MWh....

The following quotes, mergers, acquisitions and disposals were reported by 11:20 GMT on Monday: ** Personal equity firm Permira will take Squarespace personal in an all-cash deal valued at about $6.9. billion, the website-design platform said on Monday. ** Hong Kong-listed ESR Group said on Monday it. has actually gotten a buyout offer from a consortium of financiers. including Starwood Capital and SSW Partners, in a transfer to. privatise the realty fund manager. ** Personal equity company EQT stated it had actually made a. advised money offer to buy Swedish renewable resource group OX2. for 16.4 billion crowns ($ 1.51...

The following are the leading stories on the business pages of British newspapers. has not verified these stories and does not attest their precision. The Times - Social media apps consisting of TikTok and Instagram will be informed to tame aggressive algorithms pressing harmful content to children, under new guidelines as a part of a strategy from UK's. interactions regulator Ofcom. - BP CEO Murray Auchincloss stated that changing the. energy giant's listing from London to New York is not on the. program, in spite of the FTSE 100 group's assessment trailing that of. American peers. The Guardian - AstraZeneca...

Uniper is opposed to being purchased by a competitor as part of Berlin's efforts to offer down its 99% stake in the German energy trader, which was bailed out at the height of Europe's energy crisis, its chief executive stated. Uniper had to be saved by the German federal government for 13.5 billion euros ($ 14.6 billion) in 2022 after former main supplier Gazprom halted circulations, however considerations of how Berlin can begin offering down its holding have actually started due to the group's current turnaround. Options range from the sale of a 20% -30% stake on the open market...

Europe's efforts to ensure materials of crucial minerals required for its green and digital transitions and to reduce its dependence on China are struggling to acquire public approval, leading industry officials said on Wednesday. The EU Important Raw Materials Act, due to go into force next week, sets targets for the bloc to mine, recycle and process minerals consisting of lithium and copper by 2030. It also sets timeframes for strategic projects to protect licenses, however it will not fall to 27 months for a mine from the present 15-year standard without winning over a sceptical public. Bernd Schaefer, the...

The European Commission will launch calls within days for projects to improve EU supply of vital minerals and hopes soon to start joint EU purchases along the lines of its existing plan for gas, a senior commissioner said on Wednesday. The EU Critical Raw Materials Act is created to guarantee a. supply of lithium, copper and other minerals essential for the. EU's green and digital shifts, to make it possible for the bloc to. produce its own electrical automobiles or wind turbines and to decrease. dependence on China. It enters force on May 23. Commission Vice-President Maros Sefcovic stated the...

A dispute in between Tesla and Sweden's IF Metall has actually attracted unions throughout the Nordic area, all advising the electrical carmaker to sign a collective bargaining arrangement. IF Metall-affiliated employees began a strike at Tesla's. centers in Sweden on Oct. 27, sparking compassion strikes from. dockworkers, cleaners and vehicle dealers. Compassion strikes are usually legal in Nordic nations,. unlike in the U.S. where they are largely prohibited. IF Metall enabled its mechanics to fix undrivable Tesla. automobiles at independent workshops between Feb. 19 and April 30,. reducing pressure on private clients and workshops. Below is an introduction of compassion...

Sweden's greatest union on Tuesday tossed its weight behind a sixmonthold strike by mechanics at Tesla, escalating the U.S. carmaker's. latest disagreement with organised labour. At the heart of the strike is Tesla CEO Elon Musk's refusal. to sign a cumulative bargaining contract allowing the metal. workers' union to negotiate deals for the workforce as a whole. Last month, Musk stated the labour storm had actually passed in the. nation where Tesla's Design Y is the top-selling car, but he was. opposed by IF Metall, which stated its strike continued. The union told that about 44 of its members -....

Finnish stainless steel maker Outokumpu on Tuesday reported firstquarter core revenue listed below market expectations due to industrial action in Finland and a tighter scrap market. The business's adjusted revenues before interest, taxes, depreciation and amortisation (EBITDA) fell 81% to 38 million euros ($ 40.87 million) in the January-March duration, listed below analysts' projections of 46.0 million in a company-provided survey. Shares were down 2.6% at 0803 GMT. Workers in Finland went on strike in March, targeting exports, imports and freight transport, the current in a. series of union action in demonstration against federal government labour. reforms and welfare cuts....

Boliden will restart production at its Tara zinc mine in Ireland in the 3rd quarter after being closed for almost one year, the Swedish mining group said on Friday. Tara will gradually increase production to reach full capacity from January 2025, Boliden said. The mine was suspended considering that last June after costs of the galvanizing metal hit a three-year low. It is Europe's largest zinc mine and produced more than 300,000 metric lots of zinc focuses a year. Tara's. suspension, together with disruptions at significant Australian mines. had actually triggered a tighter supply of zinc focuses. A contract has...

In charge of Spanish steelmaker Acerinox says the European Union ought to do more to curb steel imports from Asia, which are harming a few of the EU's. mills as need and rates deteriorate. China raised steel production by 13% in 2023 while the rest. of the world decreased it due to weaker demand. Indonesia and. China have currently exceeded 70% of the world's steel production. share, Acerinox CEO Bernardo Velazquez informed . With domestic demand not recovering as much as expected,. China's exports of steel items increased by 25% in March. year-on-year to 9.89 million metric lots, the highest...

Shares in Swedish metalcutting and mining devices maker Sandvik fell as much as 4% on Monday after its firstquarter core profit missed out on estimates, with the business pointing to blended demand and some consumers choosing to wait to take delivery of orders. Sandvik - amongst the first of the Nordic industrials to report quarterly outcomes - is considered a trusted indicator of demand provided its broad customer base. Order consumption was down 5% excluding acquisitions, at 32.0 billion crowns, against the 31.5 billion expected by experts. In a statement, CEO Stefan Widing said need from the mining and aerospace...

The following are the leading stories on business pages of British papers. has not validated these stories and does not guarantee their precision. The Times - Britain's competitors watchdog has actually expressed genuine. issues that the most significant innovation business, including Apple. , Amazon and Microsoft, are using. their dominance on the planet of artificial intelligence in a manner. that could damage consumers. - Neil Woodford, the former star stock picker whose flagship. fund collapsed in 2019, trapping around 300,000 investors, had a. defective and unreasonably narrow understanding of his. responsibilities, Britain's Financial Conduct Authority stated on. Thursday. The Guardian...

The U.S. government stated on Friday it was completing tighter tailpipe emissions standards for heavy duty lorries like semi-trucks and buses, however the new rules would not be as stringent as initially proposed in 2023. The Epa (EPA) said the brand-new rules setting requirements for the 2027 through 2032 model years will prevent 1 billion tons of greenhouse gas emissions through 2055 and provide $13 billion in annualized net advantages to society. On the other hand, the EPA had said its harder proposed rules last year would have prevented 1.8 billion lots of emissions. The new standards apply to delivery...

The following quotes, mergers, acquisitions and disposals were reported by 0930 GMT on Thursday: ** International Resources Holding (IRH), an unit of Abu Dhabi's International Holding Company, stated it means to bid for a stake in Lubambe Copper Mine in Zambia. ** Britain's competitors regulator said that it has decided not to open an extensive 'stage 2' examination into Aviva's. acquisition of AIG Life UK. ** Spirent Communications has actually consented to Keysight. Technologies's offer valuing the firm at 1.16 billion. pounds ($ 1.46 billion), it stated, withdrawing its support for. Viavi Solutions's bid that was 15% lower. ** U.S....

Canadian miner Teck Resources has actually consented to pay Korea Zinc $165 per metric lot, a. threeyear low, to turn its zinc concentrate into refined metal,. according to two sources knowledgeable about the matter. Called treatment charges (TCs), the fees spent for. converting raw materials into zinc metals fall when mine output. declines as smelters have to compete for concentrate. Korea Zinc declined to comment. Teck Resources said it does. not discuss industrial settlements. Teck and Korea Zinc are major players. in the market for zinc used to galvanise steel for the. construction industry. Their yearly agreement on yearly processing...