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May 13, 2015

Maersk beats forecasts, loses shipping market share

COPENHAGEN, May 13 (Reuters) – Maersk Line lost market share
in container shipping in the first quarter, disappointing
analysts who said A.P. Moller-Maersk’s
forecast-beating results on Wednesday had been helped by
one-offs.

While the world’s largest container shipping business
reported a jump in net profit to $714 million from $454 million,
due largely to lower bunker fuel prices, analysts noted the
Danish conglomerate failed to announce divestments or investor
perks such as share buybacks and additional dividends, as it had
in recent quarters.

May 12, 2015

Bavarian Nordic gets 50 million euro EIB loan for Ebola vaccine

COPENHAGEN, May 12 (Reuters) – Bavarian Nordic has
received a 50 million euro ($56 million) loan from the European
Investment Bank (EIB) to help it develop a vaccine against
Ebola, which has claimed 11,000 lives in a pandemic in Western
Africa.

Some of the loan can also be used to develop the Danish
company’s prostate cancer immunotherapy, which industry experts
have said could be a ground-breaker in the treatment of that
particular disease.

May 12, 2015

Carlsberg keeps 2015 forecasts but Russia weighs

COPENHAGEN, May 12 (Reuters) – Concerns over a struggling
Russian market pushed down shares in Danish brewer Carlsberg
on Tuesday although the company stuck to its profit
forecasts for the year.

Russia will be high on the list of priorities for incoming
chief executive Cees ‘t Hart when he replaces the retiring
Jorgen Buhl Rasmussen next month.

Apr 30, 2015

Maersk insists on release of ship and crew seized by Iran

COPENHAGEN (Reuters) – Danish shipping giant Maersk insisted on Thursday on the release of a vessel and crew seized by Iran but an Iranian Embassy statement said the Maersk Tigris would only be let go once a years-old debt case was settled.

The Marshall-Islands flagged Maersk Tigris container ship was detained by Iranian forces in the Strait of Hormuz on Tuesday after shots were fired across its bow, spurring the United States to send military vessels to monitor the situation.

Apr 30, 2015

Novo Nordisk’s CEO candidate quits unexpectedly

COPENHAGEN, April 30 (Reuters) – Novo Nordisk’s
chief operating officer, a 26-year company veteran who had been
expected to become CEO, quit on Thursday after the board decided
the current chief should stay on for now.

Chief Executive Lars Rebien Sorensen had been expected to
step down from the world’s largest insulin maker well before the
end of his contract in 2019. When Kaare Schultz was named chief
operating officer (COO) last year investors had seen a clear
succession plan.

Apr 29, 2015

Iran says respects navigation freedom, day after ship is seized in Gulf

COPENHAGEN/LONDON/NEW YORK (Reuters) – Iran’s foreign minister told an audience in New York City on Wednesday that Tehran respects freedom of navigation in the Gulf, a day after Iranian patrol boats seized a Danish container ship in one of the world’s busiest oil shipping lanes.

“The Persian Gulf is our lifeline … We will respect international navigation,” Foreign Minister Javad Zarif said during a discussion hosted by the New York University Center on International Cooperation and the think tank New America. “For us, freedom of navigation in the Persian Gulf is a must.”

Apr 29, 2015

Maersk says crew of container vessel seized by Iran are safe

COPENHAGEN/LONDON (Reuters) – Danish shipping company Maersk said on Wednesday the crew of the Maersk Tigris container ship were safe and “in good spirits” after Iranian authorities seized the vessel in the Strait of Hormuz the previous day.

Iranian patrol boats fired warning shots as they intercepted the vessel, stoking tensions in one of the world’s busiest oil shipping lanes and spurring the United States to send military vessels to monitor the situation.

Apr 2, 2015

Insight – Iceland prepares to come in from the financial cold

REYKJAVIK (Reuters) – After more than six long and lonely years, Iceland is hoping its financial isolation will soon be over.

The North Atlantic nation, whose spectacular 2008 meltdown came to symbolise the greed and mismanagement of the global financial system, is expected to begin unwinding the bankruptcies of its three main banks and lifting controls on the movement of capital in and out of the island within months.

Apr 2, 2015

Iceland prepares to come in from the financial cold

REYKJAVIK, April 2 (Reuters) – After more than six long and
lonely years, Iceland is hoping its financial isolation will
soon be over.

The North Atlantic nation, whose spectacular 2008 meltdown
came to symbolise the greed and mismanagement of the global
financial system, is expected to begin unwinding the
bankruptcies of its three main banks and lifting controls on the
movement of capital in and out of the island within months.

Mar 6, 2015

Iceland central bank sees move towards lifting capital controls soon

COPENHAGEN, March 6 (Reuters) – Iceland’s central bank will
make a “significant” move towards lifting capital controls soon,
although a final settlement on how foreign creditors of
collapsed banks get repaid is yet to be found, its governor told
Reuters on Friday.

Iceland imposed capital controls in 2008 after a financial
meltdown following the collapse of three major banks that
brought the north Atlantic island to the brink of bankruptcy.