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COPENHAGEN (Reuters) – Novo Nordisk said on Friday it will invest more than 42 billion crowns ($6 billion) in its Danish production facility in the coming years to meet booming global demand for the Wegovy weight-loss treatment. The expansion at its Kalundborg site will boost capacity for manufacturing active pharmaceutical ingredients (API) as well as …

Weight-loss drug maker Novo Nordisk invests $6 billion to boost output Read More »

By William Schomberg and Andy Bruce LONDON (Reuters) -Britain’s stagnating economy failed to grow in the July-to-September period but at least managed to avoid the start of a recession, figures from the Office for National Statistics showed on Friday. The 0% change in gross domestic product in the third quarter was a touch better than …

UK economy fails to grow but sidesteps start of a recession Read More »

LONDON (Reuters) – British finance minister Jeremy Hunt said the government’s plan to reduce inflation would help revive growth, after official data on Friday showed the country’s economic output failed to grow in the July-to-September period. “High inflation is the single greatest barrier to economic growth,” he said in a statement. “The Autumn Statement will …

UK finance minister says cutting inflation is best way to revive growth Read More »

(Reuters) -British homebuilder Redrow said on Friday it expected annual profit and revenue to be at the lower end of its forecast range, hurt by a subdued autumn housing market. The latest warning from a UK housebuilder on challenging conditions in the housing market comes as elevated mortgage costs and broader economic worries drive homebuyers …

UK housebuilder Redrow sees annual profit at lower end of forecast range Read More »

LONDON (Reuters) – Anglo American is seeking partners in the Middle East and Africa to do supply and distribution deals for fertiliser from its multi-billion-dollar mining project in northeast England, a senior executive said. The Woodsmith mine, on which Anglo American announced a $1.7 billion writdeown in February, has the world’s largest known deposit of …

Anglo American’s costly fertiliser mine seeks more customers Read More »

(Reuters) – Russian flagship carrier Aeroflot said on Thursday it had clinched a settlement with leasing company BOC Aviation under which nine aircraft are to be handed over to Russian state insurance company NSK. A statement issued by Aeroflot said NSK would settle the claim pursued by BOC Aviation. The airline gave no further details …

Russian flagship carrier Aeroflot says it clinches deal with lessor Read More »

By Lananh Nguyen NEW YORK (Reuters) – Lazard Chief Executive Officer Peter Orszag says the geo-political risk to the global economy is severe and that if the U.S. government shuts down next week Ukraine aid will be the cause. Speaking at the Reuters Next conference in New York, Orszag pointed out the unusual combination of …

Reuters NEXT – Lazard CEO says global political risk severe Read More »

(Reuters) – ChatGPT maker OpenAI said on Thursday it intends to work with organizations to produce public and private datasets for training artificial intelligence (AI) models. Popular chatbot ChatGPT, which can generate poems and prose from simple prompts, is based on large language models that are trained entirely on open-source data available on the Internet. …

OpenAI seeks partnerships to generate AI training data Read More »

By Jonathan Saul and Carolyn Cohn (Reuters) – War risk insurance premiums have risen sharply after a missile damaged a merchant ship in the Ukranian port of Pivdennyi, three industry sources said on Thursday. After withdrawing from a U.N.-backed deal in July that guaranteed safe shipments of Ukrainian grain via the Black Sea, Ukraine says …

Ukraine war risk ship premiums rise after attack, sources say Read More »

By Matt Tracy (Reuters) – More U.S. high-yield bond issuers saw downgrades to their credit ratings than upgrades last month, JPMorgan said in a research report. October saw downgrades to 18 junk bond issuers’ ratings accounting for $22.2bn in debt, while just 16 issuers were given upgrades by ratings agencies, the JPMorgan report said. This …

More junk-rated companies downgraded than upgraded in October -JPM Read More »