By Joachim Dagenborg and Balazs Koranyi
(Reuters) – U.S. hedge fund manager Kyle Bass, who won fame
for predicting the subprime mortgage crisis in 2008, plans to
take on some of the world’s biggest drug producers by
challenging the patents of their top brands, he said on
Bass, the founder of Dallas-based Hayman Capital Management,
L.P., said some drug firms were hanging onto patents in
questionable ways and he planned to take around 15 firms into a
so called Inter Partes Review (IPR) process created by the
America Invents Act in 2012.
OSLO (Reuters) – Pakistani teenager Malala Yousafzai, shot by the Taliban for refusing to quit school, and Indian activist Kailash Satyarthi received their Nobel Peace Prizes on Wednesday after two days of celebration honoring their work for children’s rights.
Malala became by far the youngest laureate, widely praised for her global campaigning since she was shot in the head on her school bus in 2012. Some groups in Pakistan, however, have accused her of being a puppet of the West and violating the tenets of conservative Islam.
OSLO (Reuters) – Apathy is the biggest obstacle to eliminating forced child labor and the world needs more secular education to reduce intolerance, Nobel Peace Prize winner Kailash Satyarthi said on Tuesday.
In Oslo, where he will receive the award on Wednesday, Satyarthi told Reuters the problem was not religion itself but people who hide behind it for economic and political gain.
OSLO (Reuters) – Norwegian telecoms company Telenor and Sweden’s TeliaSonera have agreed to combine their Danish mobile businesses to boost margins in their toughest market.
The plan to put their Danish operations into a 50-50 joint venture, which aims to save 800 million Danish crowns ($133 million) a year by 2019, lifted the share price of both companies and their main rival on investor hopes of an end to cut-throat price competition.
OSLO, Dec 3 (Reuters) – Nordic telecom firms Telenor
and TeliaSonera will combine their Danish
businesses to boost margins in their toughest market, sending
shares in their main rival higher on hopes for an end to
cut-throat price competition.
Norway’s Telenor and Sweden’s TeliaSonera, which tried to
merge more than a decade ago, agreed to put their Danish
operations into a 50/50 joint venture. They aim to save 800
million Danish crowns ($133 million) a year, or around a tenth
of their combined cost, by 2019.
OSLO, Nov 30 (Reuters) – After the failure of its risky
exploration strategy this year, Norwegian oil firm Statoil is
cutting costs as fast and deep as it can to preserve cash for
dividends – and may be jeopardising future production in doing
so, industry insiders say.
Statoil took a big gamble by committing major
resources to what it hoped would be new discoveries in Angola,
the Norwegian Arctic and the U.S. Gulf of Mexico. They all
failed, leaving two Tanzanian gas fields its only major finds in
OSLO, Nov 25 (Reuters) – Norway’s $860 billion sovereign
wealth fund, the world’s biggest, has more exposure to coal than
it said earlier and should sell out, three environmental groups
said, potentially re-igniting calls for the fund to revamp its
The fund had investments worth 82 billion crowns at the
start of the year in companies that are either major producers
or consumers of coal, and the investment rose in 2013, contrary
to the fund’s claims that coal exposure was falling, Germany’s
Urgewald, Greenpeace and Norway’s Framtiden said on Tuesday.
OSLO, Nov 24 (Reuters) – China National Bluestar has agreed
to buy solar panel maker REC Solar for 4.34 billion
Norwegian crowns ($640 million) and is planning to combine it
with another Norwegian asset it picked up in 2011.
The deal comes nearly a year and a half after REC
spun off its solar panel arm, moving its headquarters to
Singapore from Norway, one of the most expensive countries in
the world, and effectively putting the company up for sale.
OSLO, Nov 14 (Reuters) – Norway, Western Europe’s top crude
producer, looks set actually to benefit from the oil price crash
as its energy sector is forced to relax its stranglehold over
much of the economy and non-oil firms profit from more
favourable business conditions.
Although it generates almost a quarter of its GDP from oil
and gas, about the same as Russia or Venezuela, Norway’s economy
remains surprisingly resilient, and even its oil industry has
begun a readjustment towards lower costs that could extend the
JOHANNESBURG/OSLO, Nov 14 (Reuters) – Two of the fiercest
rivals in online classifieds, South Africa’s Naspers and
Norway’s Schibsted, said they would team up in some emerging
markets, including fast-growing Brazil where they have battled
each other for years.
The two companies have transformed themselves from
traditional print publishers into e-commerce publishers,
focusing in recent years on emerging markets such as Brazil
where their competition has added to costs, eaten up resources
and slowed expansion.