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Business News Roundup: Oil Prices Rise, TDC Acquisition Faces Obstacles, and Novo Nordisk Seeks New CEO

The Australian capital fund Macquarie’s acquisition of the telecommunications group TDC may be blocked by the Danish Business Authority. The authority is reviewing the pension funds ATP’s, PKA’s, and PFA’s sale of their ownership shares, raising concerns about national security due to TDC’s nationwide telecommunications infrastructure.

Oil prices are rising due to reports of a possible Israeli attack on Iranian nuclear facilities. The price of crude oil increased by 1.7 percent to $66.35 per barrel. Concerns exist about potential disruptions to oil supplies from Iran, the third-largest oil producer, and the possibility of Iran blocking the Strait of Hormuz.

Investors are calling for the next CEO of Novo Nordisk to have a more consumer-oriented approach and stronger commercial skills to compete in the weight loss medication market. Concerns are mounting regarding declining market shares, with some investors suggesting candidates with deep pharmaceutical experience, including a previous board member.

Danske Bank is easing requirements for sustainable loans, now requiring companies to demonstrate credible, long-term climate plans for climate neutrality by 2030, instead of earmarking loans for green projects. Experts have welcomed the initiative but cautioned about potential loopholes and the need for careful supervision to ensure funds support emission reductions.

Historian and Novo Nordisk expert Kurt Jacobsen suggests that the Novo Nordisk Foundation’s intervention in removing the CEO may be due to consideration for B-shareholders, but suspects there may be undisclosed factors.

Microsoft blocked the International Criminal Court’s chief prosecutor’s email on Trump’s orders, realizing a long-feared scenario regarding the access to European data.

Three prominent ministers from the SVM government believe their cooperation has been successful and intend to continue their work.

The US stock market closed down on Tuesday, with the Dow Jones down by 0.27 percent, the S&P 500 down by 0.39 percent, and the Nasdaq down by 0.38 percent. Asian markets showed mixed results on Wednesday, with Japan’s Nikkei down by 0.34 percent, Hong Kong’s Hang Seng up by 0.53 percent, and China’s CSI Shanghai up by 0.39 percent.