VimpelCom Ltd, a wireless operator controlled by Russian billionaire Mikhail Fridman, reported a fourth-quarter loss after writing down its Ukraine assets by $2.1 billion because of the country’s political turmoil.
Oil and gas companies operating in Norway, western Europe’s largest producer, maintained estimates for record spending this year even as they become more selective about projects amid rising costs and lower profitability.
Norwegian Air Shuttle AS said that yields, which reflect average fares, fell 21 percent last month as competition among Europe’s discount carriers intensified, sending the stock to its sharpest decline in three months.
Cost cuts equal to 450 full-time workers, says Telenor Spokesman Joern Bremtun via phone. * Says cost reductions to help fund NOK4b of investment in Norwegian mobile, fixed network Link to Company News:TEL NO <Equity> CN <GO>