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Europe Top News and Analysis Norway


  • This country is divesting from coal Friday, 5 Jun 2015 | 5:37 PM ET
    A general view of Stortinget, the Norwegian parliament in Oslo

    Norway's $890 billion government pension fund will sell off many of its investments related to coal, the New York Times reports.

  • OSLO, June 4- Norway could see more wind power projects scrapped due to low profitability, its energy minister said on Thursday after state-owned Statkraft canceled a flagship development. In a major blow to the country's plans to increase its renewable energy output, Statkraft said it had decided not to invest in a planned 1,000- megawatt capacity wind power...

  • This week's letter calling for a global carbon pricing by Europe's Statoil, Total, BP, Shell as well as ENI and BG showed first signs of such an agreement, albeit without the support of U.S. peers Exxon Mobil and Chevron. "While we have had discussions with European majors, and we wish them well, we don't believe we need to join this scheme," said Exxon Mobil...

  • OSLO, May 29- Norwegian retail sales surged past all expectations in April and the unemployment rate unexpectedly fell, indicating the economy's resilience in the face of the oil sector's crash and making a rate cut next month less certain. Norway's growth is slowing as oil companies cut spending by around 15 percent, lay off workers and delay projects as crude...

  • Norway's $900B sovereign fund told to reduce coal assets Wednesday, 27 May 2015 | 9:23 PM ET

    Norway's $900 billion sovereign fund was told to cut its exposure to the global coal industry and sell stakes in firms that focus on the sector.

  • This real estate company just made a big buy in Norway Tuesday, 26 May 2015 | 1:45 AM ET
    This real estate company just made a big buy in Norway

    Chaim Katzman, Chairman of Gazit-Globe and Citycon, discusses the company's acquisition of Norway's real estate company, Sektor Gruppen.

  • Wealth gap widens in developed world Wednesday, 20 May 2015 | 4:47 PM ET
    A musician plays a flute sitting on the footpath next to New York Stock Exchange (NYSE) building in New York.

    A new story shows the wealth gap widening among countries in the developing world.

  • Norwegian Cruise ship runs aground in Bermuda Wednesday, 20 May 2015 | 12:55 AM ET
    In this photo provided by the Royal Gazette, the Norwegian cruise ship Norwegian Dawn, lies aground near Bermuda's North Channel Tuesday, May 19, 2015.

    A Norwegian Cruise Line ship ran aground on a reef after leaving Bermuda but no one was injured and the vessel was later floated off at high tide.

  • *Aims to go after worst offenders. OSLO, May 13- Norway's $900 billion wealth fund, one of the world's biggest investors, plans to move faster against firms in its portfolio that misbehave, weeding out the worst offenders and "crooks" that do not mend their ways, the fund's new ethics chief said. Johan Andresen, who heads the Council on Ethics, told Reuters that the fund...

  • OSLO, May 12- Oil services firm Subsea 7 plans to cuts its workforce by close to 20 percent and reduce its fleet of 39 vessels by up to 11 as global oil and gas firms continue to cut spending after a plunge in crude oil prices dampened activity levels. Subsea 7, which focuses on the North Sea but has a global operation, expects to cuts it workforce by around 2,500 by early...

  • DIARY- Top Economic Events to May 25 Monday, 11 May 2015 | 8:01 PM ET

    WASHINGTON- U.S. Treasury Department will host its annual State Small Business Credit Initiative conference. NEW YORK- Federal Reserve Bank of San Francisco President John Williams speaks on the economic outlook before the New York Association for Business Economics- 1645 GMT. WASHINGTON- Former Federal Reserve chair Alan Greenspan speaks before the 17th...

  • The Chicago- based carrier said in a statement it plans to halt service to Stockholm and Oslo from its Newark, New Jersey, hub between Sept. 5 and May 4, 2016. It also expects to suspend one of its two daily flights between Newark and Paris from Oct. 25 through March 26, 2016, but use a larger aircraft, the Boeing Co 777-200, than it currently does on the flight that remains.

  • DIARY- Top Economic Events to May 22 Thursday, 7 May 2015 | 8:01 PM ET

    LONDON- Bank of England holds Monetary Policy Committee meeting. LONDON- European Central Bank Vice President Vitor Constancio to deliver lecture on "Reinforcing financial stability in the euro area" at OMFIF Golden Speaker Series, organized by Official Monetary and Financial Institutions Forum- 1130 GMT. STAVANGER, Norway- Central bank of Norway Governor...

  • SIM sales soar as Myanmar races to catch up in telecoms Wednesday, 6 May 2015 | 10:17 AM ET

    YANGON, May 6- Myanmar, long one of the world's least connected nations in terms of telecommunications, is now racing to catch up, providing a boost to the foreign mobile companies allowed into the country last year. "The Myanmar economy has had more money in circulation than we had originally expected," said Telenor Chief Executive Jon Fredrik Baksaas on Wednesday,...

  • DIARY- Top Economic Events to May 18 Tuesday, 5 May 2015 | 8:01 PM ET

    WASHINGTON- Federal Reserve Chair Janet Yellen and International Monetary Fund Managing Director Christine Lagarde participate in " Finance and Society" conversation before the Institute for New Economic Thinking Conference on Finance and Society hosted by the IMF- 1315 GMT. WASHINGTON- Federal Reserve Bank of Kansas City President Esther George...

  • DIARY- Top Economic Events to May 14 Thursday, 30 Apr 2015 | 8:01 PM ET

    BOSTON- Federal Reserve Bank of Boston President Eric Rosengren gives welcome and opening remarks before the Economic Growth and Regulatory Paperwork Reduction Act Outreach Meeting hosted by the bank- 1300 GMT. BOSTON- Federal Reserve Board Governor Daniel Tarullo speaks at opening session before the Economic Growth and Regulatory Paperwork Reduction...

  • Norway's Statoil pushed into the red by oil prices Thursday, 30 Apr 2015 | 7:09 AM ET

    Oil major Statoil swung to a first quarter net loss on a writedown in the value of its U.S. shale business.

  • OSLO, April 27- A group of international investors is suing Norway in an attempt to overturn its decision to cut gas pipeline tariffs, arguing the fee reduction will cost them 15 billion crowns in lost earnings through 2028.. Challenging Norway's reputation as a predictable place to do business, investors including Allianz, UBS, the Abu Dhabi Investment...

  • And the world's happiest country is... Friday, 24 Apr 2015 | 6:23 PM ET
    Alphorn players perform in Nendaz, Switzerland.

    Switzerland is the happiest place on Earth, thanks to its high performing GDP and healthy life expectancy rates of its citizens.

  • *Statoil cutting less in capex than any other major. OSLO, April 23- Norway's Statoil is cutting investments less than any other oil major this year, positioning for a crude price recovery but taking a risk should the slump be protracted. We are either euphoric or depressed, " Statoil Chief Economist Eirik Waerness said.