Authorities filed more charges on Monday against a 23-year-old man in a shooting at a Nebraska fast food restaurant in which two employees were killed and two others were wounded.
"TF Bank's loan portfolio increased by 8% in local currencies during the fourth quarter. Nordic risk and the credit card initiative in Germany have been prioritised. For consumer loans in Norway and Finland, we soon intend to sign new agreements for continuing sales of past due loans, which provides comfort and predictability for the future. Overall, TF Bank is well positioned to continue expanding during 2021." - Mattias Carlsson, CEO
‘I am a conservative. You come after us, you come after our Capitol, we gonna come after you’
Shares of video game retailer GameStop Corp surged nearly 700% over the past week as retail investors piled in to the stock, appearing to be urged on by bullish posts in popular online forum Reddit as opposed to any fundamental changes in the company's finances or prospects. GameStop's interstellar surge has sparked calls for regulatory scrutiny. U.S. law bars the dissemination of false or misleading information with the aim of manipulating investors into buying or selling securities, as seen during a rash of "pump and dump" schemes during the early 2000s dot.com boom.
CREE earnings call for the period ending December 31, 2020.
The 25th Bond film is at risk of becoming yesterday’s news, writes Adam White, even if no one has actually seen it yet
Netcompany grew revenue by 15.2% and realised 28.9% margin and continued to improve free cash flow in Q4 2020 Company announcementNo. 2/202128 January 2021 Summary In Q4 2020, Netcompany grew revenue in constant currencies to DKK 781.6m - equal to 16.5% growth compared to the same period last year. In reported currencies revenue grew 15.2%. Adjusted EBITA grew 24.3% to DKK 223.5m compared to 179.9m in Q4 2019, corresponding to an adjusted EBITA margin of 28.9%. Average number of full-time employees grew 528 from 2,468 in Q4 2019 to 2,996 in Q4 2020, corresponding to a growth of 21.4% - all organic. Free cash flow remained strong and increased by 78.8% from DKK 116.8m in Q4 2019 to DKK 208.9m in Q4 2020. For the full year 2020, Netcompany realised revenue growth of 15.7% and grew revenue to DKK 2,838.6m. Adjusted EBITA margin was 26.2%. Free cash flow for the year increased by DKK 121.3m to DKK 557.0m yielding a normalised cash conversion ratio of 103%. Revenue visibility increased by 16.6% to DKK 2,131.7m for 2021 compared to DKK 1,827.8m for 2020. For 2021, Netcompany expects revenue growth in constant currencies of between 15-20%, still with a degree of uncertainty related to the continued impact from COVID-19.Adjusted EBITA margin is expected to be around 23-25%. "In Q4, we continued to deliver high quality on our projects and added new and important project wins in both Norway and in the UK in addition to ongoing strong performance in our Danish and Dutch market units. As a result, we continued our growth in Q4, despite challenging times, and realised close to 29% in adjusted EBITA margin combined with strong free cash flow. We have succeeded in attracting top talent to our Group and I am pleased to welcome another 300 new Netcompany employees in the last quarter of 2020 bringing the total number of employees above 3,000. In 2021, we will continue to support the digital transformation of societies and realise the benefits together with our valued customers. I am confident that we are on the right path and well positioned to make another step closer to our ambition of becoming a Northern European leader within IT services." André RogaczewskiNetcompany CEO and Co-founder Performance highlights for Q4 2020 Revenue increased by 15.2% to DKK 772.7m in reported currencies and by 16.5% in constant currencies.Gross profit margin was 42.4% against 42.3% in Q4 2019.Adjusted EBITA increased 24.3% and yielded a margin of 28.9%.Free cash flow remained strong and improved by 78.8% to DKK 208.9m.Fair value adjustment of the investment in the Netherlands reflects the increase of the total purchase price and impacted net profit negatively by DKK 141.3m.Cash conversion rate was 893.4%. Adjusted for the fair value adjustment to the contingent purchase price and normalised for tax payment, conversion rate was 127.9%.Debt leverage to 12 months rolling adjusted EBITA was 0.6. Financial overviewFor full details on financial performance, see enclosed Company announcement Q4 2020 and the Annual report for 2020. Conference call detailsIn connection with the publication of the results for Q4 2020, Netcompany will host a conference call on 28 January 2021 at 11.00 am CEST. The conference call will be held in English and can be followed live via the company’s website; www.netcompany.com Dial-in details for investors and analysts: DK: +45 78 15 01 08 UK: +44 333 300 9034 US: +1 646 722 4904 Webcast Player URL: https://streams.eventcdn.net/netcompany/2020q4 Additional information André Rogaczewski, CEO +45 70 13 14 40 Thomas Johansen, CFO+45 51 19 32 24 Attachments Netcompany Group Annual Report 2020 Netcompany Group Interim Report Q4 2020
Strong financial performance with free cash flow generation of MUSD 448, operating cost below guidance at USD 2.69 per boe and reduced net debt to USD 3.9 billionBalance sheet re-financed with USD 5 billion corporate facility with significantly improved termsBoard of Directors propose to increase 2020 dividend by 80 percent to USD 1.80 per share corresponding to MUSD 512Record quarterly production in the fourth quarter of 185 Mboepd and 2021 production guidance set between 170 to 190 MboepdJohan Sverdrup Phase 1 plateau production raised to 500 Mbopd gross, with expectation to increase up to 535 Mbopd by mid-2021Edvard Grieg reserves increased by 50 MMboe to 350 MMboe gross 2P ultimate recovery, extending plateau a further year to late 2023Delivering growth with resource additions of 210 percent of production in 2020 and pipeline of new projects with net resources of approximately 200 MMboe being matured for development within the temporary tax incentivesAcceleration of Decarbonisation Strategy achieving carbon neutrality from 2025 from operational emissions Financial summary 1 Jan 2020-31 Dec 202012 months1 Oct 2020-31 Dec 20203 months1 Jan 2019-31 Dec 201912 months1 Oct 2019-31 Dec 20193 monthsProduction in Mboepd164.5185.193.3135.1Revenue and other income in MUSD2,564.4779.72,948.7749.7CFFO in MUSD1,528.0276.71,378.2392.9Per share in USD5.380.974.361.20EBITDAX in MUSD12,140.2708.41,918.4695.5Per share in USD17.532.496.072.45Free cash flow in MUSD448.2-97.51,271.7153.8Per share in USD1.58-0.344.030.54Net result in MUSD384.2303.7824.9155.3Per share in USD1.351.072.610.56Adjusted net result in MUSD280.086.9252.778.9Per share in USD0.990.310.800.28Net debt in MUSD3,911.53,911.54,006.74,006.7 1 Excludes the reported after tax accounting gain of MUSD 756.7 in 2019 on the divestment of a 2.6 percent working interest in the Johan Sverdrup project. Comment from Nick Walker, President and CEO of Lundin Energy:“I’m pleased to report that in 2020 Lundin Energy delivered another strong set of results. Our operations and key projects remain on track, despite the impact of COVID-19 and unprecedented oil price volatility, demonstrating the resilience of our industry leading, low-cost business. “This was a challenging year for all, with the impact from COVID-19 on people’s health, society and of course the global oil market. At Lundin Energy we continue to handle the impact with agility and flexibility, safeguarding our people’s well-being whilst keeping our main business priorities on course. We exited 2020 with record production in the fourth quarter of 185 Mboepd, resulting in annual production of 165 Mboepd at the top end of the original guidance range, despite the production cuts imposed by the Norwegian government. Operating costs were just USD 2.69 per boe, below the guidance for the year. “Our world class assets continue to outperform and production is now set to exceed 200 Mboepd by 2023. Edvard Grieg gross 2P ultimate recovery was raised to 350 MMboe, almost double the original project sanction level. Alongside area tie-back developments this extends the production plateau to end 2023, which I anticipate will go further with upsides and area exploration opportunities. At Johan Sverdrup we reached Phase 1 plateau production ahead of schedule and the facilities capacity has been lifted significantly with an expectation of reaching up to 535 Mbopd gross from mid-2021. This is an increase of 95 Mbopd on design levels, and the full field plateau should increase to 720 Mbopd, when Phase 2 starts up in the fourth quarter of 2022. “Our growth strategy continues to deliver results with total resource additions in 2020 of 210 percent of produced volumes. With a pipeline of nine potential new projects, prioritised for development within the new tax environment, and our active exploration and appraisal programme in 2021, targeting over 300 MMboe of net unrisked resources, I am confident that we can continue to grow resources. “Financially we had a strong year, despite record low oil prices, delivering free cash flow of MUSD 448, covering our 2020 dividend more than 1.4 times, enabling us to deleverage the business at an average realised oil price of USD 40.0 per barrel. Liquidity was further strengthened with the successful refinancing of the business through a USD 5 billion committed corporate facility, with significantly improved terms. I am pleased to note that the Board of Directors is recommending a 80 percent increased dividend of USD 1.80 per share (in total MUSD 512), clearly demonstrating our commitment to sustain and increase shareholder returns. The Company’s policy remains to pay a sustainable dividend even below USD 50 per barrel. “We have also delivered on our Decarbonisation Strategy in 2020. Work continues on the electrification of our key producing assets alongside our investments in renewable energy to offset and replace the electricity we consume. When combined with our natural carbon capture projects, we can now achieve carbon neutrality from 2025; a first for the upstream industry, and showing we can deliver both profitable growth and environmental benefits. “It is an honour to be taking up the reins of this industry-leading Company and I would like to express my deep gratitude to Alex Schneiter for providing exceptional leadership over the past five years. His foresight and ambition means that Lundin Energy is, and will continue to be, at the forefront of the industry. I would like to thank all our stakeholders for their support during this very challenging year. I look forward to reporting on our active 2021 programme and I am encouraged by the outlook for the business, which is well positioned to deliver resilient, sustainable growth into the future.” 2021 Capital Markets Day information Lundin Energy will be hosting its 2021 Capital Markets Day on 28 January 2021 at 14.00 CET (08.00 EST) via a webcast and conference call facility. The Capital Markets Day will include presentations by the Company’s management team on its fourth quarter 2020 financial results, the business strategy, the 2021 budgeted development campaign, its exploration and appraisal programme and decarbonisation strategy. Please follow the event live at www.lundin-energy.com or dial in using the following telephone numbers with the pin code shown below: UK/International:+44 2071 928338Sweden:+46 8 566 184 67Norway:+47 21 56 30 15USA:+1 646 741 3167Access Pin :6247379Webcast link: https://edge.media-server.com/mmc/p/oz7b59c2 Lundin Energy has grown from an oil and gas exploration company into an experienced Nordic energy developer and operator. We continue to explore new ideas, new concepts and new solutions to maintain our position as an industry leader in production efficiency, sustainability and decarbonisation. (NASDAQ Stockholm: LUNE). For more information, please visit us at www.lundin-energy.com or download our App www.myirapp.com/lundin For further information, please contact: Edward WestroppVP Investor RelationsTel: +41 22 595 10 14edward.westropp@lundin-energy.com Robert ErikssonHead of Media CommunicationsTel: +46 701 11 26 15robert.eriksson@lundin-energy.com This is information that Lundin Energy AB is required to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact persons set out above, at 07.31 CET on 28 January 2021. Forward-looking statements Certain statements made and information contained herein constitute “forward-looking information” (within the meaning of applicable securities legislation). Such statements and information (together, “forward-looking statements”) relate to future events, including Lundin Energy’s future performance, business prospects or opportunities. Forward-looking statements include, but are not limited to, statements with respect to estimates of reserves and/or resources, future production levels, future capital expenditures and their allocation to exploration and development activities, future drilling and other exploration and development activities. Ultimate recovery of reserves or resources are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. All statements other than statements of historical fact may be forward-looking statements. Statements concerning proven and probable reserves and resource estimates may also be deemed to constitute forward-looking statements and reflect conclusions that are based on certain assumptions that the reserves and resources can be economically exploited. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe” and similar expressions) are not statements of historical fact and may be “forward-looking statements”. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations and assumptions will prove to be correct and such forward-looking statements should not be relied upon. These statements speak only as on the date of the information and Lundin Energy does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws. These forward-looking statements involve risks and uncertainties relating to, among other things, operational risks (including exploration and development risks), productions costs, availability of drilling equipment, reliance on key personnel, reserve estimates, health, safety and environmental issues, legal risks and regulatory changes, competition, geopolitical risk, and financial risks. These risks and uncertainties are described in more detail under the heading “Risk management” and elsewhere in Lundin Energy’s Annual Report. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. Actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are expressly qualified by this cautionary statement. Attachment Lundin Energy - Year end report 2020 - V2 - 20210128en
CONSTI PLC STOCK EXCHANGE RELEASE 28 JANUARY 2021, at 08.30 a.m. Change in Consti’s Management Team: Jukka Kylliö appointed as Business Area Director of Public Sector Jukka Kylliö (born 1967, B.Eng., CPM®) has been appointed as Business Area Director of Public Sector and a member of Consti’s Management Team. Kylliö has most recently acted as Regional Director at Skanska Talonrakennus Oy. He has a long career in various management and project development positions at NCC Rakennus Oy and Lemminkäinen Group in the non-residential construction sector. Jukka Kylliö will assume his position as member of Consti Plc’s Management Team on 4 February 2021 and he will report to Esa Korkeela, CEO of Consti Group. “I warmly welcome Jukka to Consti. He has a deep knowledge of our industry and business, and with the right kind of expertise he is capable of supporting Consti’s growth as well as improvement of productivity and profitability going forward. With Jukka in charge, we will continue to develop our Public Sector business area in line with our strategy.”, says Esa Korkeela, CEO of Consti Group. The CV and photo of Jukka Kylliö are available on Consti’s website at: http://investor.consti.fi/en/corporate-governance/ceo-and-management-team/management-team. Composition and responsibilities of the Management Team As a result of Jukka Kylliö’s appointment, Risto Kivi, who has previously been responsible for both Housing Companies and Public Sector, will focus on leading the Housing Companies business area going forward. As a result of the changes, Consti Plc’s Management Team consists of CEO Esa Korkeela and thefollowing persons: Joni Sorsanen, CFO; Risto Kivi, Business Area Director Housing Companies; Jukka Mäkinen, Business Area Director Corporations; Jukka Kylliö, Business Area Director Public Sector; Pekka Pöykkö, Business Area Director Building Technology, Markku Kalevo, Bid and Sales Director Housing Companies; Pirkka Lähteinen, Regional Director Corporations, Heikki Untamala, Chief Legal Officer and Turo Turja, HR Director. CONSTI PLC Further information:Esa Korkeela, CEO, Consti Plc, Tel. +358 40 730 8568 Distribution:Nasdaq Helsinki Ltd.Major mediawww.consti.fi Consti is a leading Finnish company concentrating on renovation and technical services. Consti offers comprehensive renovation and building technology services to housing companies, corporations, investors and the public sector in Finland’s growth centres. Company has four business areas: Housing Companies, Corporations, Public Sector and Building Technology. In 2019, Consti Group’s net sales amounted to 315 million euro. It employs approximately 1000 professionals in renovation construction and building technology. Consti Plc is listed on Nasdaq Helsinki. The trading code is CONSTI. www.consti.fi
Annabel Nugent talks to the new breed of music supervisors on shows such as Industry and I May Destroy You, who are making our ears prick up every time we switch on
BOUSSARD & GAVAUDAN HOLDING LIMITED Ordinary Shares The Directors of Boussard & Gavaudan Holding Limited would like to announce the following information for the Company. Close of business 27 Jan 2021. Estimated NAV Euro SharesSterling SharesEstimated NAV€ 25.8330£ 22.6147Estimated MTD return -0.40 % -0.68 %Estimated YTD return -0.40 % -0.68 %Estimated ITD return 158.33 % 126.15 % NAV and returns are calculated net of management and performance fees Market information Euro SharesAmsterdam (AEX)London (LSE)Market Close€ 20.90N/APremium/discount to estimated NAV -19.10 %N/A Sterling SharesAmsterdam (AEX)London (LSE)Market CloseN/AGBX 1,800.00Premium/discount to estimated NAVN/A -20.41 % Transactions in own securities purchased into treasury Ordinary Shares Euro SharesSterling SharesNumber of sharesN/AN/AAverage PriceN/AN/ARange of PriceN/AN/A Liquidity Enhancement AgreementEuro SharesSterling SharesNumber of sharesN/AN/AAverage PriceN/AN/A BGHL Capital BGHL Ordinary SharesEuro SharesSterling SharesShares Outstanding 13,275,769 294,494Held in treasury 217,500N/AShares Issued 13,493,269 294,494 Estimated BG Fund NAV Class B Euro Shares (estimated)€ 216.5269 The Class B Euro Shares of BG Fund are not subject to investment manager fees, as the Investment Manager receives management fees and performance fees in respect of its role as Investment Manager of BGHL. For further information please contact: Boussard & Gavaudan Investment Management, LLP. Emmanuel Gavaudan +44 (0) 20 3751 5389 Email : info@bgam-uk.com The Company is established as a closed-ended investment company domiciled in Guernsey. The Company has received the necessary approval of the Guernsey Financial Services Commission and the States of Guernsey Policy Council. The Company is registered with the Dutch Authority for the Financial Markets as a collective investment scheme pursuant to article 2:73 in conjunction with 2:66 of the Dutch Financial Supervision Act (Wet op het financieel toezicht). The shares of the Company (the "Shares") are listed on Euronext Amsterdam. The Shares are also listed on the Official List of the UK Listing Authority and admitted to trading on the London Stock Exchange plc's main market for listed securities. This is not an offer to sell or a solicitation of any offer to buy any securities in the United States or in any other jurisdiction. This announcement is not intended to and does not constitute, or form part of, any offer or invitation to purchase any securities or the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of the securities referred to in this announcement in any jurisdiction in contravention of applicable law. Neither the Company nor BG Fund ICAV has been, and neither will be, registered under the US Investment Company Act of 1940, as amended (the "Investment Company Act"). In addition the securities referenced in this announcement have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act"). Consequently any such securities may not be offered, sold or otherwise transferred within the United States or to, or for the account or benefit of, US persons except in accordance with the Securities Act or an exemption therefrom and under circumstances which will not require the issuer of such securities to register under the Investment Company Act. No public offering of any securities will be made in the United States. You should always bear in mind that: all investment is subject to risk; results in the past are no guarantee of future results; the investment performance of BGHL may go down as well as up. You may not get back all of your original investment; and if you are in any doubt about the contents of this communication or if you consider making an investment decision, you are advised to seek expert financial advice. This communication is for information purposes only and the information contained in this communication should not be relied upon as a substitute for financial or other professional advice. Attachment Daily NAV - BgHL
BOUSSARD & GAVAUDAN HOLDING LIMITED Ordinary Shares The Directors of Boussard & Gavaudan Holding Limited would like to announce the following information for the Company. Close of business 27 Jan 2021. Estimated NAV Euro Shares Sterling Shares Estimated NAV € 25.8330 £ 22.6147 Estimated MTD return -0.40 % -0.68 % Estimated YTD return -0.40 % -0.68 % Estimated ITD return 158.33 % 126.15 % NAV and returns are calculated net of management and performance fees Market information Euro Shares Amsterdam (AEX) London (LSE) Market Close € 20.90 N/A Premium/discount to estimated NAV -19.10 % N/A Sterling Shares Amsterdam (AEX) London (LSE) Market Close N/A GBX 1,800.00 Premium/discount to estimated NAV N/A -20.41 % Transactions in own securities purchased into treasury Ordinary Shares Euro Shares Sterling Shares Number of shares N/A N/A Average Price N/A N/A Range of Price N/A N/A Liquidity Enhancement Agreement Euro Shares Sterling Shares Number of shares N/A N/A Average Price N/A N/A BGHL Capital BGHL Ordinary Shares Euro Shares Sterling Shares Shares Outstanding 13,275,769 294,494 Held in treasury 217,500 N/A Shares Issued 13,493,269 294,494 Estimated BG Fund NAV Class B Euro Shares (estimated) € 216.5269 The Class B Euro Shares of BG Fund are not subject to investment manager fees, as the Investment Manager receives management fees and performance fees in respect of its role as Investment Manager of BGHL. For further information please contact: Boussard & Gavaudan Investment Management, LLP. Emmanuel Gavaudan +44 (0) 20 3751 5389 Email : info@bgam-uk.com The Company is established as a closed-ended investment company domiciled in Guernsey. The Company has received the necessary approval of the Guernsey Financial Services Commission and the States of Guernsey Policy Council. The Company is registered with the Dutch Authority for the Financial Markets as a collective investment scheme pursuant to article 2:73 in conjunction with 2:66 of the Dutch Financial Supervision Act (Wet op het financieel toezicht). The shares of the Company (the "Shares") are listed on Euronext Amsterdam. The Shares are also listed on the Official List of the UK Listing Authority and admitted to trading on the London Stock Exchange plc's main market for listed securities. This is not an offer to sell or a solicitation of any offer to buy any securities in the United States or in any other jurisdiction. This announcement is not intended to and does not constitute, or form part of, any offer or invitation to purchase any securities or the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of the securities referred to in this announcement in any jurisdiction in contravention of applicable law. Neither the Company nor BG Fund ICAV has been, and neither will be, registered under the US Investment Company Act of 1940, as amended (the "Investment Company Act"). In addition the securities referenced in this announcement have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act"). Consequently any such securities may not be offered, sold or otherwise transferred within the United States or to, or for the account or benefit of, US persons except in accordance with the Securities Act or an exemption therefrom and under circumstances which will not require the issuer of such securities to register under the Investment Company Act. No public offering of any securities will be made in the United States. You should always bear in mind that: all investment is subject to risk; results in the past are no guarantee of future results; the investment performance of BGHL may go down as well as up. You may not get back all of your original investment; and if you are in any doubt about the contents of this communication or if you consider making an investment decision, you are advised to seek expert financial advice. This communication is for information purposes only and the information contained in this communication should not be relied upon as a substitute for financial or other professional advice. Attachment Daily NAV - BgHL
Lundin Energy AB (Lundin Energy and the Company) is pleased to announce its 2021 programme, with a capital budget of USD 1.2 billion and production guidance of between 170 to 190 thousand barrels of oil equivalent per day (Mboepd). The long-term production guidance is increased to over 200 Mboepd by 2023. The Company will achieve carbon neutrality for operational emissions from 2025, which is accelerated from the original target of 2030. 2021 guidance2020 resultsProduction170 to 190 Mboepd164.5 MboepdOperating costUSD 3 per boeUSD 2.69 per boeDevelopment expenditureMUSD 850MUSD 640Exploration and Appraisal expenditureMUSD 260MUSD 153Renewables/Re-forestation InvestmentsMUSD 70MUSD 96Abandonment expenditureMUSD 20MUSD 53 Long-term guidanceUpdated guidance Previous guidanceProductionOver 200 Mboepd by 2023170 to 180 MboepdOperating costUSD 3 to 4 per boeUSD 3.2 to 4.2 per boe from 2021 onwardsCarbon neutral target20252030 Production Guidance The average production in 2020 was 165 Mboepd, which was at the top end of the original guidance range of between 145 and 165 Mboepd. Production for the fourth quarter of 2020 was 185 Mboepd, which was above guidance due to increased facilities capacity and high uptime performance at Edvard Grieg and Johan Sverdrup. Lundin Energy’s production guidance for 2021 is between 170 and 190 Mboepd. The range reflects that the current Johan Sverdrup Phase 1 facilities capacity of 500 thousand barrels of oil per day (Mbopd) gross is expected to increase up to 535 Mbopd from mid-2021 and that there will be additional facilities capacity available for the Edvard Grieg Area, as a result of the start of natural production decline at Ivar Aasen. The Edvard Grieg tie-back developments, Solveig Phase 1 and the Rolvsnes Extended Well Test (EWT), are expected to commence production in the third quarter 2021 and will contribute to maintaining plateau production through the facilities. The production contribution is split approximately 60 percent from the Johan Sverdrup field, 35 percent from the Greater Edvard Grieg Area and the remainder from the other assets. The Company’s production is expected to rise to over 200 Mboepd by 2023, reflecting the increased Johan Sverdrup full field plateau level of 720 Mbopd, once Phase 2 comes on stream in the fourth quarter of 2022, and the extended Greater Edvard Grieg Area production plateau period. The Company’s long-term target is to sustain production levels of over 200 Mboepd with upsides from existing fields and potential new development projects. Accelerated Decarbonisation StrategyLundin Energy is accelerating its Decarbonisation Strategy to target carbon neutrality for operational emissions from 2025, from the original target of 2030. This change is underpinned by good progress on the electrification of the Company’s main assets, investments in renewable energy to replace electricity usage and now a commitment to invest in proprietary natural carbon capture projects to offset any residual, hard to abate emissions. Electrification of the Company’s main assets will result in over 95 percent of oil and gas production being powered by electricity from shore by 2023 and committed renewables projects will generate electricity accounting for 60 percent of forecast peak electricity usage, with a plan for further investments to achieve 100 percent in 2023. To offset any residual emissions, the Company has entered into a partnership with Land Life Company BV to plant approximately 8 million trees, investing MUSD 35 between 2021 and 2025, capturing approximately 2.6 million tonnes of CO2. The 2021 budget for renewables and reforestation investments is MUSD 70. This includes the Leikanger hydropower project in Norway, which is scheduled for final completion in the first half of 2021, the Metsälamminkangas (MLK) wind farm project in Finland that is due for completion at the start of 2022 and the first phase of the reforestation projects. Development Budget The 2021 development expenditure is budgeted at MUSD 850 and reflects the actions taken to defer activity from 2020 to 2021, due to the low oil prices in 2020. Approximately 35 percent of the 2021 budgeted development expenditure relates to the non-operated Johan Sverdrup field (WI 20%). Development drilling for Phase 1 will continue throughout 2021, while the Phase 2 project will see the installations of the second processing platform jacket, a process module on the existing riser platform and subsea production facilities. Approximately 55 percent of the budgeted development expenditure relates to activity in the Greater Edvard Grieg Area. The Edvard Grieg field (WI 65%) programme includes the drilling of three infill production wells and continuation of the electrification project, which will see the field powered from shore by late 2022. The Solveig Phase 1 (WI 65%) and Rolvsnes EWT (WI 80%) projects, will see the completion of the facilities installation and the start of development drilling in the second quarter, which will continue through to 2022. Budgeted expenditure at the non-operated Alvheim area involves the drilling of two infill wells and development spend for the Kobra East/Gekko and Frosk tie-back projects, which are scheduled for sanction/PDO in mid-2021. Exploration and Appraisal BudgetThe exploration and appraisal budget for 2021 is MUSD 260 and involves the drilling of eight wells, seven of which remain to be drilled, with the programme targeting over 300 MMboe of net unrisked resources. The Company also has nine potential new projects which are being prioritised for development within the temporary tax incentives that require a PDO to be submitted before the end of 2022. These potential projects are Solveig Phase 2 and Segment D (WI 65%), Lille Prinsen (WI 40%), Rolvsnes Full Field (WI 80%), Iving (WI 41%), Alta (WI 55%), Wisting (WI 10%), and the Alvheim Area projects of Kobra East/Gekko (WI 15%), and Frosk (WI 15%), which have net resources totalling approximately 200 MMboe. Approximately 50 percent of the exploration and appraisal budget is for drilling activities and engineering studies to de-risk these potential projects with the aim of maturing them to PDO within the time-line of the tax incentives. Remaining 2021 exploration and appraisal well programme LicenceOperatorAreaWIWellPL981Lundin EnergyUtsira High60%MerckxPL359Lundin EnergyUtsira High65%Solveig Segment DPL167Lundin EnergyUtsira High40%(1)Lille Prinsen appraisalPL976Lundin EnergySele High50%DovregubbenPL820SMOLEast of Alvheim Area41%(1)Iving appraisalPL1041AkerBPAlvheim Area30%LyderhornPL722EquinorSouthern Barents Sea20%Shenzhou 1 Following completion of announced transactions Abandonment ExpenditureThe 2021 abandonment expenditure budget is MUSD 20 to finalise the Brynhild field decommissioning with the removal of the subsea facilities. 2021 Capital Markets Day information Lundin Energy will be hosting its 2021 Capital Markets Day on 28 January 2021 at 14.00 CET (08.00 EST) via a webcast and conference call facility. The Capital Markets Day will include presentations by the Company’s management team on its fourth quarter 2020 financial results, the business strategy, the 2021 budgeted development campaign, its exploration and appraisal programme and decarbonisation strategy. Please follow the event live at www.lundin-energy.com or dial in using the following telephone numbers with the pin code shown below: UK/International:+44 2071 928338Sweden:+46 8 566 184 67Norway:+47 21 56 30 15USA:+1 646 741 3167Access Pin :6247379Webcast link: https://edge.media-server.com/mmc/p/oz7b59c2 Lundin Energy has grown from an oil and gas exploration company into an experienced Nordic energy developer and operator. We continue to explore new ideas, new concepts and new solutions to maintain our position as an industry leader in production efficiency, sustainability and decarbonisation. (NASDAQ Stockholm: LUNE). For more information, please visit us at www.lundin-energy.com or download our App www.myirapp.com/lundin For further information, please contact: Edward WestroppVP Investor RelationsTel: +41 22 595 10 14edward.westropp@lundin-energy.com Robert ErikssonHead of Media CommunicationsTel: +46 701 11 26 15robert.eriksson@lundin-energy.com This is information that Lundin Energy AB is required to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact persons set out above, at 07.30 CET on 28 January 2021. Forward-looking statements Certain statements made and information contained herein constitute “forward-looking information” (within the meaning of applicable securities legislation). Such statements and information (together, “forward-looking statements”) relate to future events, including Lundin Energy’s future performance, business prospects or opportunities. Forward-looking statements include, but are not limited to, statements with respect to estimates of reserves and/or resources, future production levels, future capital expenditures and their allocation to exploration and development activities, future drilling and other exploration and development activities. Ultimate recovery of reserves or resources are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. All statements other than statements of historical fact may be forward-looking statements. Statements concerning proven and probable reserves and resource estimates may also be deemed to constitute forward-looking statements and reflect conclusions that are based on certain assumptions that the reserves and resources can be economically exploited. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe” and similar expressions) are not statements of historical fact and may be “forward-looking statements”. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations and assumptions will prove to be correct and such forward-looking statements should not be relied upon. These statements speak only as on the date of the information and Lundin Energy does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws. These forward-looking statements involve risks and uncertainties relating to, among other things, operational risks (including exploration and development risks), productions costs, availability of drilling equipment, reliance on key personnel, reserve estimates, health, safety and environmental issues, legal risks and regulatory changes, competition, geopolitical risk, and financial risks. These risks and uncertainties are described in more detail under the heading “Risk management” and elsewhere in Lundin Energy’s Annual Report. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. Actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are expressly qualified by this cautionary statement. Attachment Lundin Energy - 2021 CMD budget - V1 - 20210128en
Eurofins Technologies (Paris:ERF) and Eurofins Genomics are pleased to announce the launch of two validated assays for the identification of B.1.1.7 (UK) and B.1.351 (South Africa) variants with a short turn-around time.
(Bloomberg) -- Samsung Electronics Co. missed analyst estimates for the fourth quarter and warned profitability will likely decline this quarter, citing weakness in its memory chip business and challenges with currency fluctuations.South Korea’s biggest company reported net income in the three months ended December of 6.45 trillion won ($5.84 billion), missing the 7.3 trillion won average of estimates compiled by Bloomberg. Shares fell as much as 2.8% in Seoul on Thursday.Samsung, the world’s largest maker of memory chips and displays, struck a cautious tone that stood in contrast to that of many technology companies benefiting during the coronavirus lockdowns. Just hours earlier, Apple Inc. and Facebook Inc. reported financial results that handily exceed estimates.“In the first quarter, we expect overall profitability to decline due to relative weakness in the memory and display businesses,” said Ben Suh, executive vice president of investor relations, during a call with investors. In the memory business, Samsung’s most important profit engine, “results are likely to weaken due to currency effects and continued costs associated with new fab ramp up.”Operating profit for the semiconductor unit was 3.85 trillion won in the fourth quarter, short of the 4.62 trillion estimate from analysts. The company said it expects a recovery in the business in the first half.In the smartphone business, Samsung struggled in the holiday period as Apple introduced its first 5G-capable iPhones and Chinese rivals put up fierce competition. The Cupertino, Calif.-based company took over the No. 1 position in the fourth quarter, ahead of Samsung and China’s Xiaomi Corp., market research firms said on Thursday.With a lot of good devices on the market, “there is only so much that Samsung can grab out of it,” said Kiranjeet Kaur, research manager at IDC.Investors had anticipated Samsung could increase its dividend payout substantially, in part because the founding Lee family faces an enormous inheritance tax bill. Instead, the company said it would continue to return 50% of free cash flow to shareholders between 2021 and 2023, although its annual dividend payout will increase slightly to 9.8 trillion won.The results come just days after Samsung’s de-facto leader, billionaire heir Jay Y. Lee, was sent back to prison on bribery charges. Although professional managers lead the company’s operating units, Lee has played a central role in major strategic decisions.The company signaled it will continue to press ahead with critical deals and investments. Samsung will use its capital to expand the capacity of its foundry business, which fabricates chips for clients like Nvidia Corp., to meet demand and overcome current supply shortages. It will also invest in facility expansions and “meaningful” acquisitions, the company said.“For the last few years, we have been evaluating possible M&A opportunities very carefully and have made significant progress in terms of preparation,” Choi Yoon-ho, chief financial officer of Samsung, said during the earnings call. “Although it is difficult to pinpoint a specific timing due to uncertainties in the internal and external business environment ... we are optimistic of carrying out meaningful M&A activities during this term.”Read more: Samsung Surges to New High on Strong Memory Market OutlookAnalysts including Yungsan Choi of Ebest Investment & Securities have been anticipating a long-awaited rebound in memory chip prices due to demand for servers and more powerful 5G smartphones. Component supplier Murata Manufacturing Co. and chipmaker MediaTek Inc. both anticipate more than half a billion 5G handsets to be shipped this year.Chipmakers Intel Corp. and Micron Technology Inc. gave a bullish forecast for the first quarter of this year on continued demand for computers and phones that enable working and studying from home. Taiwan Semiconductor Manufacturing Co. is planning another record-breaking year of investment with as much as $28 billion set aside to expand and improve its production capacity at a time of silicon supply shortages affecting everyone from global automakers to mobile tech giants like Apple and Qualcomm Inc.Samsung’s contract chip manufacturing is expected to expand with the addition of Intel as a customer. The two companies have discussed development and production of Intel’s mainboard chipsets over the last two years and Samsung will produce the chipset at its Austin, Texas plant starting from this quarter, Meritz Securities said in a note.Samsung Is Said to Mull $10 Billion Texas Chipmaking PlantThe existing Austin fab is capable of operating on a 14-nanometer process. With rising expectations of growth in the foundry market, Samsung is considering building a cutting-edge logic chipmaking plant in the region that would be capable of fabricating chips as advanced as 3nm in the future, Bloomberg News reported earlier.“Regarding investments including building a fab in the U.S., we haven’t made a decision yet,” said Shawn Han, senior vice president of the semiconductor business. “Due to the nature of foundry business that requires timely and efficient responses to customers’ demand, we routinely review capacity expansions. We continue to study ways to optimize operations at fabs in all regions from Giheung, Hwaseong to Austin.”(Updates with executive comment in fourth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
When LeBron James melded his preternatural playmaking intelligence with diligent study, he remade the league.
The FBI believes California Gov. Gavin Newsom (D) and the Bay Area headquarters of Twitter and Facebook were targets of a man facing federal explosives charges, according to a criminal complaint.Driving the news: Prosecutors charged Ian Benjamin Rogers after finding weapons including five pipe bombs, 49 guns and thousands of rounds of ammunition following a Jan. 15 search of his Napa County home and auto repair business. His alleged goal was to ensure former President Trump remained in office.Support safe, smart, sane journalism. Sign up for Axios Newsletters here.Officers found a "White Privilege Card" during the search. Photo: FBI/Justice Department * The suspected far-right extremist told the FBI he built the bombs "for entertainment purposes only," according to the complaint, filed Tuesday. * But agents found text messages sent from the 43-year-old's phone that appeared to target Democrats, Twitter and Facebook after Trump was banned from the social media sites following the Jan. 6 riots at the U.S. Capitol by some of his supporters.Zoom in: "We can attack Twitter or the democrats you pick," said one message. "We can attack Twitter and democrats easy right now burn they’re s--- down." * "I'm thinking sac office first target ... Then maybe bird and face offices," said another. * FBI Special Agent Stephanie Minor stated in the complaint that she believes "sac" refers to Newsom's Sacramento office. * Another message stated, "I hope 45 goes to war if he doesn't I will," which Minor stated she believed was in reference to ensuring that Trump "remained in power" after his election loss.For the record: Rogers is facing federal charges of unlawful possession of an unregistered destructive device. * Napa County District Attorney Allison Haley told the Los Angeles Times Wednesday that he also faces 28 felony charges in state court "for possession of the explosives and weapons, including possession of an illegal silencer and multiple unregistered assault weapons."Get smarter, faster with the news CEOs, entrepreneurs and top politicians read. Sign up for Axios Newsletters here.
Global demand for gold fell to its lowest in 11 years in 2020 as the coronavirus upended the market, triggering huge stockpiling by investors but collapsing sales of jewellery and purchases by central banks, an industry report said on Thursday. Global demand for gold fell to 3,759.6 tonnes last year, down 14% from 2019 and the first year below 4,000 tonnes since 2009, the World Gold Council (WGC) said in its latest quarterly report. The year ended on a weak note, with demand over October to December at 783.4 tonnes, down 28% year-on-year and the lowest of any quarter since 2008, the WGC said.
London 2012 gold medallist Glover has declared her ambition to give the Olympics one more shot.
(Bloomberg) -- Dubai’s stock index slumped the most in a week as the city imposed further restrictions on air travel and hospitals amid another record surge in coronavirus cases.The Middle East business hub reduced the validity of PCR tests to three days from four “irrespective of the country they are coming from,” according to a statement issued late on Wednesday. It is also now mandatory to have prior appointments for hospital visits.The United Arab Emirates, of which Dubai is the second-largest emirate, is battling a rise in infections as it opened up for air travel and eased movement restrictions. On Wednesday, the country reported a record 3,939 cases.Dubai’s DFM General Index fell as much as 1.9% on Thursday, underperforming a benchmark for emerging-market equities globally. Emaar Properties PJSC, Emaar Malls PJSC and Damac Properties PJSC, which have risen on hopes of improving prospects for tourism in the emirate, retreated between 1.5% and 2.6%.Dubai travel requirements from Jan. 31: (click here for link)Validity period of PCR tests cut to 72 hours from 96 hoursPre-travel PCR test mandatory for UAE residents, GCC citizens and visitors arriving in DubaiArrivals from certain countries -- based on the pandemic situation in those countries -- require an additional test on arrival in DubaiHospital requirements from Jan. 27: (click here for link)All appointments must be booked in advance and there should be a minimum interval of 20 minutes between appointmentsA minimum distance of two meters should be maintained by patients in waiting areasThe UAE has already approved shots developed by Pfizer Inc. and BioNTech SE, as well as China’s Sinopharm and Russia’s Sputnik V.So far, almost 2.76 million doses have been administered and the UAE has the second-highest per-capita inoculation rate in the world after Israel. The government aims to cover 50% of its population of about 10 million by April.(Reacasts with stocks)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Magena Morris, Tyler Bone and Nic White are on a mission to help Charlotte's homeless, a population that has grown during the pandemic. Once a month they bring clothes to the city's largest tent encampment and invite residents to shop for free. (Jan. 28)
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