Company news in brief

Ozempic-maker Novo Nordisk to cut 9 000 jobsThe maker of Wegovy and Ozempic, Novo Nordisk, has announced it will cut 9 000 jobs weeks after warning that profits will fall as more "knock-off" weight-loss drugs emerge. The redundancies make up 11% of the Danish company 's workforce and mark the first major step by new chief executive Mike Doustdar as Novo Nordisk faces mounting pressures in the rapidly expanding weight-loss sector.Demand for weight-loss drugs has increased in recent years, in particular after Covid-related lockdowns forced people to stay in their homes.Doustdar said: "Our markets are evolving, particularly in obesity, as it has become more competitive and consumer-driven. Our company must evolve as well." - BBCAnglo American, Teck Resources to merge London-listed miner Anglo American and Canada’s Teck Resources plan to merge, marking the sector’s second-biggest mergers and acquisitions deal ever and forging a new global copper-focused heavyweight.Under the proposed deal, which will require regulatory approvals and was announced on Tuesday, Anglo American shareholders will own 62.4 per cent of the new company, Anglo Teck, while shareholders in Teck would hold 37.6 per cent.Anglo Teck will be headquartered in Canada but have a primary stock listing in London, said the two companies whose combined market capitalisation exceeds US$53bn.The deal to form the world’s fifth-largest copper company is also a big bet on copper by Anglo. Glencore’s $90bn merger with Xstrata in 2013 remains the largest mining deal in history. - Al JazeeraSA economy grows 0.8 per centSouth Africa’s economy eked out growth of 0.8% in the second quarter of 2025, a step up from the meagre 0.1% recorded in the first three months of the year.Mining and manufacturing carried the rebound, but momentum remains far off the 3% target government and business set to create a million jobs. Forecasts for the year still hover around just 1%.Deputy trade and industry minister Zuko Godlimpi admitted the economy is hamstrung by structural barriers that continue to sap confidence and investment, from energy insecurity to outdated infrastructure.Godlimpi said a key priority of the reform agenda is breaking up market concentration and boosting SMMEs to drive inclusive growth. - IOLTrump lobbies EU for 100% tariffs on China and IndiaDonald Trump has called on the European Union (EU) to hit China and India with tariffs of up to 100% to force Russian president Vladimir Putin to end the war in Ukraine.The US president made the demand during a meeting between US and EU officials on Tuesday, discussing options to increase economic pressure on Russia, a source familiar with the discussions has told the BBC.Trump, who previously pledged to end the conflict on "day one" of becoming president, is struggling to broker a peace deal between Moscow and Kyiv, and Russia 's strikes on Ukraine have intensified.Separately, Trump told reporters on Tuesday that he plans to talk to Putin on a call this week or early next week.China and India are major buyers of Russian oil, which helps to keep the country 's economy and war machine afloat.Last month, the US imposed a 50% tariff on goods from India, which included a 25% penalty for its transactions with Russia. - BBC

Company news in brief

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Namibian Sun 2026-03-17

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Company news in brief

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Namibian Sun 2026-03-17

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