Record-long talks warded off strike

After a record 22 hours of negotiations in overtime, Norway’s largest trade union federation for industrial workers finally agreed on a new labour pact with the country’s largest industrial employers’ organization. The settlement averted a major strike that would have pulled 28,000 workers off the job. No one wanted a strike that would have further […]

Historic dive in industrial production

Norwegian industrial production continued to fall during the second quarter, down 5.6 percent compared to the same quarter last year. State statistics bureau SSB (Statistics Norway) reported that there hadn’t been such a decline recorded since 1990. SSB stressed that the decline was strongly linked to the Corona crisis that raged in all three months […]

Labour talks stalled at the very start

Norway’s most important annual labour negotiations had to be postponed last spring when the Corona crisis hit and the country shut down. When they finally resumed this week, the talks that set the tone for wage earners all over the country broke down after just an hour. “This year we have nothing to give,” claimed […]

Corona sabotaged labour negotiations

Spring wage and benefit negotiations between Norway’s biggest trade union federations and employers’ organizations traditionally rank as among the most important events of the year. The Corona crisis has upset just about everything, though, with all talks put off until early autumn in an unprecedented postponement. “Our delegation had been very goal-oriented,” Jørn Eggum, leader […]

Suddenly, a string of business woes

NEWS ANALYSIS: A huge surprise loss at Norway’s biggest bank, a bankruptcy that set off massive inconvenience, layoffs at major Norwegian companies, calls to rein in the oil industry and new concerns over debt and and high housing prices are just some of the bulletins suddenly jarring the perception of a strong Norwegian economy. Even […]

‘Worst over’ for Norsk Hydro

Employees and executives at Norsk Hydro could breathe a bit easier this week after a Brazilian court allowed the the large Oslo-based aluminum company to resume full operations at its huge Alunorte plant in Pará. It share price sagged again on Wednesday, however, after shooting up on the court’s news. Shares were down 3.34 percent […]

Aker boss is Oslo’s best paid

Øyvind Eriksen has been working for the past 10 years as chief executive of Aker, Norwegian industrialist Kjell Inge Røkke’s stocklisted investment firm. That’s also made him the best paid CEO of all companies on the Oslo Stock Exchange, reports newspaper Dagens Næringsliv (DN). Eriksen, age 54, received executive pay equal to NOK 17.3 million […]

Aasheim takes the helm at Hydro

One of Norway’s biggest companies finally appointed a woman as its new chief executive on Monday, and Norsk Hydro’s shares were trading up nearly 2 percent by early afternoon. Hilde Merete Aasheim, who’s had a solid career at major Norwegian firms, will take over from Svein Richard Brandtzæg who wanted to step down after 33 […]

Røkke’s tower can’t save the seas

Norwegian industrialist Kjell Inge Røkke has been met with thumbs down from political leaders in the Oslo suburb of Bærum, who refused to approve his plan for a skyscraper at Fornebu. Now Røkke may take his plan elsewhere, or even out of Norway. The building plans unveiled last year in the presence of Prime Minister […]

Arctic Fund Management dumps Hydro

Norwegian aluminum producer Norsk Hydro has had a rough year and at least one funds manager in Oslo seems to have lost patience. Newspaper Dagens Næringsliv (DN) reported Tuesday that Arctic Fund Management was dropping Hydro from its portfolio despite some better news last week. “We’re taking Norsk Hydro out because of weak sentiment for […]