logo
Norsk Hydro to Cut 750 White-Collar Jobs as Tariff Risks Mount

Norsk Hydro to Cut 750 White-Collar Jobs as Tariff Risks Mount

Bloomberg2 days ago
Norsk Hydro ASA will cut 750 white-collar jobs in an effort to cut costs amid increasing global uncertainty and risks.
The aluminum producer is targeting cost cuts of 1 billion Norwegian Kroner (USD 98 million) annually with cuts across group functions, business areas and global business services, the company said in a statement on Thursday.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

BNP Paribas Exane Upgrades Novo Nordisk (NVO) to Neutral from Underperform
BNP Paribas Exane Upgrades Novo Nordisk (NVO) to Neutral from Underperform

Yahoo

time17 minutes ago

  • Yahoo

BNP Paribas Exane Upgrades Novo Nordisk (NVO) to Neutral from Underperform

Novo Nordisk A/S (NYSE:NVO) is one of the top cheap stocks that will go to the moon according to Reddit. On August 13, BNP Paribas Exane upgraded Novo Nordisk A/S (NYSE:NVO) to Neutral from Underperform with a $54 price target. An elderly couple receiving insulin from a pharmacist, representing healthcare company's successful pharmaceutical products. The firm told investors that it sees a more balanced risk/reward now that the company's 'reality' is better reflected in the shares. Novo Nordisk A/S (NYSE:NVO) announced results for the January 1 to June 30 period on August 6, reporting an operating profit growth of 25% in Danish kroner and 29% at constant exchange rates (CER) to DKK 72.2 billion. Management also stated that sales in US Operations rose by 16% in Danish kroner (17% at CER), while sales in International Operations grew by 16% in Danish kroner (19% at CER). Novo Nordisk A/S (NYSE:NVO) is a global healthcare company specializing in diabetes care. It develops, discovers, manufactures, and markets pharmaceutical products. Its operations are divided into two business segments: biopharmaceuticals and diabetes and obesity care. The latter segment covers GLP-1, insulin, and other protein-related products. While we acknowledge the potential of XXXX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data

Inspired Pet Nutrition to buy Ultra Premium Direct
Inspired Pet Nutrition to buy Ultra Premium Direct

Yahoo

timean hour ago

  • Yahoo

Inspired Pet Nutrition to buy Ultra Premium Direct

Investor-backed Inspired Pet Nutrition (IPN) is buying into France-based direct-to-consumer business Ultra Premium Direct (UPD). CapVest Partners-backed IPN said it has entered 'exclusive discussions' with asset-management firm Eurazeo and other minority shareholders to acquire the online pet-food company. Eurazeo said UPD has established itself as a major player in the French premium pet-food market and is regarded as one of the top direct-to-consumer (D2C) online brands in the category. IPN's proposed acquisition of UPD seeks to create a major independent and international branded pet-food platform in Europe, with a view to building a 'powerful omnichannel strategy' to 'further strengthen loyalty and engagement'. It comes as Inspired Pet Nutrition acquired Sopral last month as it looks to expand its operations in France and Europe. Since acquiring a stake in UPD in 2021, Eurazeo has supported UPD's founders and management in strengthening its brand positioning, expanding its premium product range, and reinforcing its leadership team. The deal is set to be finalised in the fourth quarter, although it is subject to the conclusion and consultation process with the company's trade unions, as well as approval from the competition authorities. CEO of IPN, Arthur van Benthem, said: 'UPD has delivered impressive growth in both sales and profitability and represents a strong strategic addition to IPN. 'It brings with it a sophisticated, proven e-commerce platform with significant international growth potential, a rapidly expanding mono-brand store network, and another outstanding brand to our portfolio.' He added: 'The business is highly complementary to both IPN and Sopral. By combining UPD's direct-to-consumer strengths with Sopral's extensive manufacturing capabilities and IPN's broader network and customer base, we unlock powerful opportunities to accelerate our ambitious growth plans across Europe. Head of Eurazeo's Elevate division, Pierre Meignen, said: 'We are very proud to have supported the founders and management team of UPD through every key stage of their development and to have stood by their side in creating a French leader in the pet-food ecosystem. 'We thank IPN for the trust they have shown in UPD and are confident that this partnership will enable the company to embark on a promising new phase of growth.' "Inspired Pet Nutrition to buy Ultra Premium Direct" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

2025 balance press conference: Highest turnover in company history
2025 balance press conference: Highest turnover in company history

Yahoo

time2 hours ago

  • Yahoo

2025 balance press conference: Highest turnover in company history

In his 21st and last balance press conference as chairman of the board, Hans-Joachim Watzke looked back to the very beginning, with a loss of 54 million euros and a turnover of just 75 million euros, before turning to the current figures and emphasising: 'We have already achieved the benchmark turnover of 500 million euros, and now, after 509 million last year, we have reached the highest turnover in our history with 526 million euros. It has been a very successful year for us.' The same goes for the club's sporting performance in some respects: 'When you consistently qualify for the Champions League over ten years' - as one of only seven clubs in the whole of Europe to do so - 'that is quite exceptional!' Compared to the previous year (509 million euros), Borussia Dortmund - the only listed Bundesliga team - increased its turnover in the period 1 July 2024 to 30 June 2025 by 3.32 per cent, to 526 million euros. The final net profit was 10.5 million euros before tax and 6.5 million euros after tax, which falls within the predictions made before the season. The management board also reported a positive free cash flow of 21 million euros, with managing director Thomas Treß reporting a 'good, stable result.' Existing credit lines of 75 million euros had not been required by the reporting date of 30.6.2025. As a result of reaching the quarter-finals of the UEFA Champions League, the club's goals in terms of both sporting and economic performance were exceeded. The new format of the competition also meant that there were seven sold out home games (compared to six the previous year), with the associated additional revenue from ticketing. A further driver of revenue was the club's participation in the FIFA Club World Cup this summer. According to Treß's report, these revenues amounted to 33.9 million euros in the financial year 2024/25. In the tournament held in the USA, BVB reached the quarter-final, which took place on 5 July 2025. This was offset by BVB's early departure from the DFB Cup in the second round, and reduced transfer revenues compared to the previous year, when Jude Bellingham transferred to Real Madrid. Last season, Niclas Füllkrug and Donyell Malen left the club for significantly lower sums. Jamie Gittens' transfer to Chelsea FC falls in the new financial year 2025/26. Revenues from merchandising were also lower than in the year when, among other things, BVB profited from the hype surrounding their participation in the Champions League Final. 'We don't want to reinvent Borussia Dortmund, we want to develop it. We still have an incredible amount of potential and are capable of gaining the support of even more people and partners,' said managing director Carsten Cramer, emphasising: 'We are much, much more than just a football club.' A club which is conscious of its own social and ecological responsibility. Thomas Treß announced: 'We have set ourselves the goal of becoming climate neutral by 2040.' Together with the supervisory board, the management board wants to reiterate its suggestion of distributing a dividend of six cents per share at the general meeting in November. 'It is important to give a signal of dividend continuity to shareholders, even if the dividend uses up the entire annual net profit,' said managing director Thomas Treß. Boris Rupert

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store