Norway’s €900bn sovereign wealth fund has proposed overhauling how its holdings are placed across the globe, calling for a shift away from Europe.

Norwegian Air gained the backing of Norway’s richest man, providing some stability to the struggling discount carrier as it searches for a new suitor following IAG’s decision to abandon its eight-month pursuit.

Environmental action could terminate a state-backed oil exploration deal in Norway that provides lucrative taxes, writes Mikael Holter.