Norway’s DNB, the country’s largest bank, reported second-quarter earnings below expectations, partly due to a weak performance in its trading operations, sending its shares lower.
Stocks fell and metals prices slumped to their lowest in a year on Wednesday, as U.S. threats of tariffs on an additional $200 billion worth of Chinese goods pushed the world’s two biggest economies ever closer to a full-scale trade war.
Hundreds of workers on Norwegian offshore oil and gas rigs went on strike on Tuesday after rejecting a proposed wage deal, leading to the shutdown of one Shell-operated oilfield and helping to send Brent crude prices higher.
Royal Dutch Shell (RDSa.L) is shutting down production at its Knarr field in the North Sea after workers walked out on strike, the company said.
Rolls-Royce Holdings said it would sell its loss-making commercial marine business to Norway’s Kongsberg Gruppen ASA for 500 million pounds ($661 million).
Equinor submitted a 7.8 billion Norwegian crowns plan to develop gas reserves in the western part of its Troll field, the largest natural gas source off Norway.
Sweden’s Nordea Bank AB said it would buy Gjensidige Forsikring, for about 5.5 billion crowns in cash to expand in the Norwegian market.
Private equity-backed Neptune Energy has agreed to buy the Norwegian and Danish offshore oil and gas assets of German gas utility VNG, the companies said.
The Norwegian Supreme Court has ruled in favour of the government in a lawsuit brought by owners of the Gassled gas network over pipeline tariffs, it said.
Britain’s exit from the European Union could leave companies planning to build more power interconnections at the mercy of possible new trading arrangements and potential tariffs.
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