Latest news with #Norway
Reuters
2 hours ago
- Politics
- Reuters
Explosion at Norway's ambassador residence in Tel Aviv, no injured, says foreign ministry
OSLO, June 19 (Reuters) - An explosion occurred at the residence of the Norwegian ambassador to Israel on Thursday evening in Tel Aviv, the Norwegian foreign ministry said. "We have been in contact with the embassy tonight. No staff with the embassy was injured during the incident," the foreign ministry said in an emailed statement. It did not say what caused the explosion.
Yahoo
5 hours ago
- Business
- Yahoo
Transocean (RIG) Falters For 3rd Straight Day – Here's Why
We recently published a list of 10 Stocks Take A Shocking Nosedive. Transocean Ltd. (NYSE:RIG) is one of the worst-performing stocks on Thursday. Transocean dropped by 3.74 percent on Wednesday to close at $3.09 apiece as investors unloaded portfolios over the lack of fresh developments to boost buying. Wednesday's share price marked its third straight day of decline, suggesting that investors have already priced in earlier news that it secured another $100 million contract with existing client, Equinor ASA. Under the agreement, Transocean Ltd. (NYSE:RIG) will drill two more wells for Equinor ASA at the Spitsbergen rig in Norway as part of the latter's drilling extension option. The program is expected to kick off in the first quarter of 2026 in direct continuation of the rig's current program. The additional work followed their original three-well program on the Norwegian Continental Shelf (NCS), which was procured in 2024. An aerial view of an oil rig with drillers in hard hats working on the platform. Transocean Ltd.'s (NYSE:RIG) Spitsbergen rig was built in 2010 as a sixth-generation dual-derrick winterized semi-submersible rig, which is capable of drilling high-pressure and high-temperature formations. While we acknowledge the potential of RIG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
5 hours ago
- Business
- Yahoo
Kaldvík AS: Mandatory notifications of share lending
Frøya, 19 June 2025: Reference is made to the stock exchange announcement made by Kaldvík AS ("Kaldvík" or the "Company") on 5 June 2025 (the "Announcement"), regarding the successful completion of a private placement (the "Private Placement") of new shares in the Company raising gross proceeds of approximately NOK 532 million, equal to approximately EUR 46.2 million. As described in the Announcement, the Private Placement consists of two tranches, of which tranche 1 comprises 5,976,172 offer shares ("Tranche 1") and tranche 2 comprises 32,034,878 offer shares ("Tranche 2")Reference is made to the Announcement for further details. The completion of tranche 2 was subject to a resolution by the extraordinary general meeting of the Company. This general meeting is now held, cf. also the stock exchange announcement published earlier today, where the general meeting resolved to issue the new shares allocated to investors in Tranche 2. To facilitate delivery-versus-payment settlement in the Private Placement, Austur Holding AS, a close associate of Lars Måsøval, a primary insider of the Company, has agreed to lend 9,241,926 existing shares in the Company to DNB Carnegie in accordance with a share lending agreement entered into between the Company, DNB Carnegie and Austur Holding AS. Please see the attached notification form for further information about the transaction by a close associate to a primary insider. This information is subject to the disclosure requirements pursuant to MAR article 19 and Section 5-12 the Norwegian Securities Trading Act. For further information, please contact:Roy-Tore Rikardsen, CEO: +354 791 0006 (mobile)Robert Robertsson, CFO: +354 843 0086 (mobile) Attachment PDMR Austur Holding AS 19 June 2025
Yahoo
6 hours ago
- Science
- Yahoo
Arctic warming spurs growth of carbon-soaking peatlands
Arctic peatlands are expanding as the climate warms, new research showed Thursday, a change that could slow global heating in the near term but have the opposite effect in future. Peatlands are the largest terrestrial store of carbon, locking away twice as much heat-trapping CO2 from the atmosphere in their waterlogged soils as all the world's forests. These carbon-rich reservoirs, composed of partially decayed organic matter, only cover three percent of Earth's surface, and generally fade out in the far north, where harsh weather limits plant growth. But warmer temperatures caused by climate change have improved growing conditions for plants in the Arctic, and satellite data has shown a general "greening" of this frosty region. Using drones, satellite imagery and on-the-ground observations, an international team of scientists assessed peatlands in the European and Canadian Arctic to see if they had benefited from warmer climes. They found strong evidence that peatlands "have likely undergone lateral expansion over the last 40 years" in the Arctic, which is the fastest-warming region on Earth. "The permafrost thaws a little, provides a water source for vegetation, and surface vegetation recovers. In this study, we specifically see a lateral expansion," Michelle Garneau, a professor at the University of Quebec in Montreal, and co-author of the study, told AFP. The most marked change was observed where summer temperatures have risen the most, such as in the Norwegian archipelago of Svalbard. "All these new vegetated surfaces that didn't exist three decades ago are currently actively absorbing carbon," Garneau added. How Arctic peatlands respond to climate change in future is "still highly uncertain", said the study, published in the peer-reviewed journal Communications Earth & Environment. Recent modelling suggests these northern peatlands "may become a carbon source from mid-century" as they dry out and permafrost thaws, the study said. They are also at risk from wildfires, which release masses of stored up carbon at once. "This means that in the short term, these expanding peatlands are a growing carbon sink in the Arctic," said study co-author Karen Anderson, a professor from the University of Exeter, which led the research. "But in the future, this could switch back, and this will happen because of higher temperatures and potentially things like fires," she told AFP. As peatlands expand, they also release methane, a potent greenhouse gas with far more heat-trapping capacity than CO2, though these emissions decline over time. "So while our study gives us some positive news, it does not detract from the urgent need to reduce greenhouse gas emissions and stabilise our climate," said Anderson. jmi/np/jhb
Reuters
7 hours ago
- Business
- Reuters
Oil, war and tariffs tear up markets' central bank roadmap
LONDON, June 19 (Reuters) - Investor unease about an increasingly uncertain environment is rising, as Norway's shock rate cut on Thursday highlights how U.S. tariffs, Middle East conflict and a shaky dollar make global monetary policy and inflation even harder to predict. Norway's crown slid roughly 1% against the dollar and the euro , in a sign of how unexpected the move was. And Switzerland, which cut borrowing costs to 0% on Thursday, confounded some expectations among traders for a return to negative rates in the deflation-hit nation, as its central bank warned of a cloudy global outlook. Just a day earlier the U.S. Federal Reserve kept rates on hold and chair Jerome Powell said "no one" had conviction on the rate path ahead. The conclusion for markets: monetary policy uncertainty is one more headwind to navigate against a backdrop of geopolitical and trade risks. Global stocks pulled away from recent peaks, a gauge of expected volatility in European equities (.V2TX), opens new tab touched a two-month high as stocks across the region fell and government bonds, usually geopolitical risk havens, sold off. "We're at a moment of considerable policy and macro uncertainty," said BlueBay chief investment officer at RBC Global Asset Management Mark Dowding. "We can't see a clear trend on interest rates," he added, which meant he was holding back from active market bets across the group's investment portfolios. Volatility was set to rise, some investors said, because a choppy dollar and oil prices whipped around by geopolitics meant that central banks were far less able to provide markets and investors a clear route map for the future. "You cannot just take your cues from the central banks anymore as they are facing a harder job of reading the economy themselves," T.S. Lombard director of European and global macro Davide Oneglia said. Rate-cutting European central banks are not just diverging from the Fed, which is grappling with the inflationary risks of President Donald Trump's tariffs. They are also struggling to navigate a new era where the dollar , the lynchpin of world trade, commodity prices and asset valuations, has turned weaker and more volatile under trade war stress and government debt anxiety. "That's a massive, massive fundamental shift in global markets that everyone is trying to assess," Monex Europe head of Macro Research Nick Rees said. "All of those standard economic rules of thumb we use for forecasting are completely broken right now." The dollar is down almost 9% against other major currencies this year but has risen following the outbreak of a war between Israel and Iran. European Central Bank policymaker Francois Villeroy de Galhau said on Thursday the ECB might have to adapt its rate cut plans if oil price volatility was long-lasting. The new status quo in markets could well be an era of central bank surprises that create rapid shifts in the market narrative, asset pricing and volatility trends, analysts said. "We're getting into this next cycle in which variables are much more volatile, because, rather than (monetary policy) being just easily predictable, events just take over and policy and human factors, as we now know with Donald Trump, play an important role," Oneglia said. Norway's surprise cut came because the crown was a "runaway top currency" of the trade-war era, added Societe Generale's head of FX strategy Kit Juckes. With investors chasing around the world to identify stores of wealth that are not U.S. dollars, meanwhile, the Swiss franc has soared, cutting the costs of imports and pushing the economy into deflation. On Thursday, the franc rose against the dollar as traders saw the SNB's cut as too small to keep deflation at bay. Ninety One multi-asset head John Stopford said the hazard risk was rising for global stocks and that options products that aim to offer protection from incoming volatility looked fairly cheap. He was buying bonds issued in nations where inflation and rates could come down materially, such as New Zealand, but was negative on longer-dated U.S. Treasuries and German Bunds where economic uncertainty was higher and government borrowing was likely to rise. Global stocks (.MIWD00000PUS), opens new tab remain almost 20% above their April trough, after investors relaxed about tariffs. Stopford said there was more to worry about in the short term. "The stock market feels like it's a thatched house in a hot country with a fire hazard risk, and people aren't charging much to insure the house," Stopford added.
