Latest news with #Oslo
The National
8 minutes ago
- Business
- The National
Security guard at US Embassy in Oslo 'paid in Bitcoin to spy for Iran'
A Norwegian man has been charged with intelligence activities targeting his own nation and the US for Russia or Iran. The Oslo State Attorney's Office said he could face 21 years in prison, having disclosed information that 'individually or collectively' could 'harm fundamental national interests'. The defendant was working as a security guard at the US Embassy in Oslo when he allegedly began spying for the Russian and Iranian authorities. According to the indictment, the unnamed man shared vital information with both states. This included: A list of couriers from the national intelligence service, classified as restricted information Names, addresses, telephone numbers and vehicle details of embassy staff and diplomats, as well as their families Roles of the embassy staff Pre-booked visits to the embassy Security procedures Floor plans of the embassy Pictures of garage facilities and communication equipment The prosecutor believes the information the man shared posed an 'elevated risk' to the individuals, the embassy and 'American security interests'. The US working closely with Israel during the war in Gaza motivated him to contact Russian and Iranian intelligence, according to the indictment. Russian authorities are said to have paid him €10,000 (about $11,700) for information handed over in Norway and Serbia. Iranian authorities allegedly paid 0.17 Bitcoin (around $20,000) for the information. According to the indictment, it was handed over in Oslo and Turkey. The man tried to hide the money by depositing it in accounts belonging to his family and a friend, and then asked them to transfer the sums to him, the indictment alleges. He is also accused of hiding income from the Norwegian Tax Administration. In 2023, he was listed with an income of 57,000 kroner (about $5,600). According to the indictment, however, he had an income of more than 400,000 kroner from the US Embassy that year, which he did not report. He ran a security company with another person. The man has pleaded not guilty. Local reports said despite this the suspect acknowledged the facts of the case but denied any criminal responsibility. Officials said he has co-operated during the investigation and has identified a Russian agent to the authorities in Oslo. His trial is scheduled for August 19 in Oslo District Court, with two weeks set aside for the main hearing. Spying cases have become common across Europe. In the UK on Tuesday, a court found that 65-year-old Howard Phillips offered to pass information about former defence secretary Grant Shapps to two men he believed were Russian agents. The men were undercover British intelligence agents. Phillips offered to turn over Shapps' contact details as well as the location where he kept his private plane to 'facilitate the Russians in listening on British defence plans'. The defendant's ex-wife told Winchester Crown Court that Phillips 'would dream about being like James Bond' and watched films about the British secret services because he was 'infatuated with it'. Bethan David, head of the Crown Prosecution Service's counterterrorism division, said the conviction sent a clear message to anyone considering spying for Russia. 'Phillips was brazen in his pursuit for financial gain, and unbothered about the potential detriment to his own country,' Ms David said. A jury found Phillips guilty of assisting a foreign intelligence service under the National Security Act. He will be sentenced at a later date.
Yahoo
5 hours ago
- Business
- Yahoo
Mandatory disclosure of holding and notice of trade in IDEX Biometrics
Reference is made to IDEX Biometrics ASA's disclosure on 21 July 2025 of a private placement of 9,090,909 shares at NOK 3.30 per share. IDEX discloses the following information on behalf of a major shareholder and primary insider. Tranche 1 of the private placement amounted to 4,731,594 shares. As disclosed separately, Pinchcliffe AS, a company closely related to CEO and CFO Anders Storbråten, participated in the private placement and subscribed for 739,360 shares in Tranche 1. In connection with the private placement, the manager of the private placement, IDEX Biometrics and Mr. Storbråten entered into a share lending agreement. Mr. Storbråten has lent 4,731,594 shares, ISIN NO0013536078, in connection with the settlement of Tranche 1. The shares have been lent, not sold, and will be returned in due course. After the subscription by Pinchcliffe and the temporary lending of shares, Mr. Storbråten and close relations hold 6,503,476 or 12,48% shares of the total outstanding shares and votes in IDEX Biometrics after completion of Tranche 1. Contact personAnders Storbråten, CEO and CFO Tel: +47 4163 8582E-mail: ir@ About IDEX BiometricsIDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market. For more information, visit About this noticeThis notice was issued by Erling Svela, Vice president of finance, on 23 July 2025 at 11:50 CET on behalf of IDEX Biometrics ASA. The information about the lending shall be disclosed according to article 19 no. 3 of the EU Market Abuse Regulation (EU 596/2014). The information about shareholding shall be disclosed according to section 4-2 of the Norwegian Securities Trading Act (STA). The information is published in accordance with section 5‑12 of the Norwegian Securities Trading Act.
Yahoo
8 hours ago
- Business
- Yahoo
Norsk Hydro ASA (NHYDY) Q2 2025 Earnings Call Highlights: Strong Financial Performance Amid ...
Adjusted EBITDA: NOK7.8 billion for Q2 2025. Free Cash Flow: NOK5 billion in Q2 2025. Adjusted RoaCE: 12%, above the target of 10% over the cycle. Revenue: Increased by 4% year over year to NOK53 billion for Q2 2025. Net Income: Positive net income of around NOK2.5 billion for Q2 2025. Adjusted Net Income: NOK3.6 billion in Q2 2025. Adjusted EPS: NOK1.68 per share for Q2 2025. Net Debt: Increased by NOK400 million since Q1 2025, ending at NOK23 billion. Capital Expenditure Guidance: Reduced by NOK1.5 billion for 2025. Impairment Charges: NOK400 million in Brazilian energy assets. Extrusion Sales Volumes: Increased by 1% year over year in Q2 2025. Aluminum Prices: Three-month aluminum price increased from USD2,507 to USD2,598 per ton during Q2 2025. US Midwest Premium: Increased from USD844 to USD1,432 per ton during Q2 2025. Energy Adjusted EBITDA: Increased to NOK1.1 billion in Q2 2025 from NOK611 million in Q2 2024. Warning! GuruFocus has detected 10 Warning Signs with AKZOF. Release Date: July 22, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Norsk Hydro ASA (NHYDY) reported a strong adjusted EBITDA of NOK7.8 billion for Q2 2025, with a free cash flow of NOK5 billion and an adjusted RoaCE of 12%, surpassing the target of 10%. The company has successfully maintained a low number of injuries, demonstrating a strong safety culture that contributes to operational stability and efficiency. Norsk Hydro ASA (NHYDY) is ahead of its 2030 improvement program targets, with significant progress in greener sales, including a 50% increase in sales of greener products compared to 2024. The company has implemented a hiring freeze for white-collar positions to enhance flexibility and resilience in response to market volatility. Norsk Hydro ASA (NHYDY) continues to see strong demand for low carbon and recycled products, supported by regulatory momentum for sustainability and climate action in Europe. Negative Points Geopolitical risks and trade tensions, particularly following Russia's invasion of Ukraine, are affecting Norsk Hydro ASA (NHYDY)'s entire value chain and global market conditions. The company has faced challenges in the wind and solar markets, particularly in Brazil and the Nordics, due to grid constraints and regulatory uncertainty. Norsk Hydro ASA (NHYDY) reported NOK400 million in impairments in its Brazilian energy assets due to adjusted return requirements amid ongoing challenges. The extrusion market in North America is expected to decline by 2% in 2025 compared to 2024, driven by weak demand in the commercial transport and automotive segments. Norsk Hydro ASA (NHYDY) has terminated a Nordic power purchase agreement due to undelivered volumes, resulting in potential compensations of up to EUR90 million. Q & A Highlights Q: On the CapEx, can you elaborate on which projects, expansion plans you have cut or delayed in 2025? And also, can we assume a similar cut to 2026 if downstream demand remains weak? A: Eivind Kallevik, President and CEO: Most of the CapEx reductions are focused on the recycling and extrusion businesses. The 2026 guidance remains at NOK15 billion, and we will review this as the market develops, providing an update at the Investor Day later this year. Q: Is the more than 100 FTE reduction within extrusion predominantly blue collar? And is the potential of 300 to 350 a mix of white and blue collar? A: Eivind Kallevik, President and CEO: The automation project in extrusions is predominantly focused on the blue-collar workforce and does not overlap with the white-collar review currently underway. Q: Can you give a guidance on your expectations for eliminations in EBITDA into Q3? A: Trond Christophersen, CFO: We don't have specific guidance for eliminations next quarter, but we expect a significant portion of the remaining NOK400 million to NOK500 million to be realized in Q3. Q: You have said IRR of more than 10% needed to deliver projects. Does [Turija and Karmy] deliver in the current environment? A: Eivind Kallevik, President and CEO: Yes, both the Spanish recycler and the wire rod investments at Karmy are solid projects, supported by long-term agreements with leading cable producers in Europe. Q: What has changed on your return requirements that drove the impairment in Brazil? A: Eivind Kallevik, President and CEO: We updated the return requirements for energy investments due to grid constraints and potential regulatory challenges in Brazil, leading to a NOK400 million impairment. Q: In alumina, prices are declining for Q3, and you are guiding for higher bauxite costs. Do you expect to avoid a loss-making quarter at the current price cost spread? A: Trond Christophersen, CFO: The realized alumina prices for Q3 are not expected to differ significantly from Q2, and the bauxite price increase is temporary due to maintenance at Paragominas. Q: Your revenue from green products has increased by 50% year over year. Can you give us some more color on how volumes and premiums have developed? A: Eivind Kallevik, President and CEO: We see growth in both volume and premiums for green products, with positive developments in the US market following the European trend. Q: Are you seeing an impact on scrap availability in Europe from higher US tariffs? A: Eivind Kallevik, President and CEO: The scrap market in Europe remains tight due to exports to Southeast Asia and the US, along with low economic activity in Europe, leading to elevated scrap prices. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Se produjo un error al recuperar la información Inicia sesión para acceder a tu portafolio Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información
Yahoo
11 hours ago
- Business
- Yahoo
Equinor to commence third tranche of the 2025 share buy-back programme
Equinor (OSE: EQNR, NYSE: EQNR) will on 24 July 2025 commence the third tranche of up to USD 1,265 million of the share buy-back programme for 2025, as announced in relation with the second quarter results 23 July 2025. In this third tranche of the share buy-back programme for 2025, shares for up to USD 417.5 million will be purchased in the market, implying a total third tranche of up to USD 1,265 million including shares to be redeemed from the Norwegian State. The tranche will end no later than 27 October 2025. Equinor announced at the Capital Market Update in February 2025 a share buy-back programme of up to USD 5 billion for 2025, including shares to be redeemed from the Norwegian State, in order to conclude the two-year programme for 2024 – 2025, announced in February 2024. The share buy-back programme will be subject to market outlook and balance sheet strength and be structured into tranches where Equinor will buy back shares for a certain value in USD over a defined period. For the third tranche in 2025, Equinor will be entering into a non-discretionary agreement with a third party who will execute repurchases of shares and make its trading decisions independently of the company. Commencement of new share buy-back tranches after the third tranche in 2025 will be decided by the board of directors on a quarterly basis in line with the company's dividend policy and will be subject to board authorisation for share buy-back from the company's annual general meeting and agreement with the Norwegian State regarding share buy-back (as further described below). The purpose of the share buy-back programme is to reduce the issued share capital of the company. All shares purchased as part of the third tranche for 2025 will thus be cancelled through a capital reduction at the annual general meeting of the company in May 2026. Further information about the share buy-back programme and the third tranche: The third tranche of the share buy-back programme for 2025 is based on an authorisation granted to the board of directors at the annual general meeting of the company held on 14 May 2025. According to the authorisation, the maximum number of shares which can be purchased in the market is 84 million, of which 67,622,812 remain available per commencement of the third tranche in 2025 (buy-backs made under previous tranches in the authorisation period taken into account). The minimum price that can be paid per share is NOK 50, and the maximum price is NOK 1,000. The authorisation is valid until the annual general meeting of the company in May 2026, but no later than 30 June 2026. An agreement between Equinor and the Norwegian State regulates the State's participation in the share buy-back: at the annual general meeting of the company in May 2026, the State will, as per proposal by the board of directors, vote for the cancellation of shares purchased in the market pursuant to the board authorisation, and the redemption and cancellation of a proportionate number of its shares in order to maintain its ownership share in the company at 67%. The price to be paid to the State for redemption of the State's shares shall be the volume-weighted average of the price paid by Equinor for shares purchased in the market plus an interest rate compensation, adjusted for any dividends paid. In the third tranche in 2025, shares will be purchased on the Oslo Stock Exchange and possibly other trading venues within the EEA. Transactions will be conducted in accordance with applicable safe harbour conditions, and as further set out in the Norwegian Securities Trading Act of 2007, EU Commission Regulation (EC) No 2016/1052 and the Norwegian Financial Supervisory Authority's Guidelines for buy-back programmes from March 2025. The board of directors will propose to the annual general meeting to be held in May 2026, to cancel shares purchased in the market in this third tranche in 2025 and to redeem and cancel a proportionate number of the State's shares per the agreement with the State. Any shares purchased under subsequent tranches of the share buy-back programme for 2025, including a proportionate number of the State's shares will follow a similar process at the annual general meeting of the company in 2026. This is information that Equinor is obliged to make public pursuant to the EU Market Abuse Regulation and that is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. Further information from: Investor relations Bård Glad Pedersen, senior vice president Investor Relations, +47 918 01 791 Media Sissel Rinde, vice president Media Relations, +47 412 60 584 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
Yahoo
13 hours ago
- Business
- Yahoo
Mandatory notice of trade in IDEX Biometrics
Reference is made to IDEX Biometrics ASA's disclosure on 21 July 2025 of a private placement of 9,090,909 shares at NOK 3.30 per share, split in two tranches. IDEX discloses the following information on behalf of primary insiders. In tranche 1 of the private placement, total 4,731,594 shares :- CEO and CFO Anders Storbråten, subscribed to 443,616 shares, ISIN NO0013536078, at NOK 3.30 per share, Pinchcliffe AS, a company closely related to Anders Storbråten, subscribed to 295,744 shares, ISIN NO0013536078, at NOK 3.30 per share, andK-konsult AS, a company closely related to chair Morten Opstad, subscribed to 128,156 shares, ISIN NO0013536078, at NOK 3.30 per share. Contact personAnders Storbråten, CEO and CFO Tel: +47 4163 8582E-mail: ir@ About IDEX BiometricsIDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market. For more information, visit About this noticeThis notice was issued by Erling Svela, Vice president of finance, on 23 July 2025 at 03:40 CET on behalf of IDEX Biometrics ASA. The information shall be disclosed according to article 19 no. 3 of the EU Market Abuse Regulation (EU 596/2014) and published in accordance with section 5‑12 of the Norwegian Securities Trading in to access your portfolio
