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Ørsted chief vows to fight ‘with everything I’ve got’ to revive fortunes

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Ørsted chief vows to fight ‘with everything I’ve got’ to revive fortunes

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The chief executive of Ørsted has vowed to “fight with everything I’ve got” to restore investor confidence in the world’s largest offshore wind developer after its decision to walk away from two key US projects triggered multibillion-dollar impairments.

Speaking to the Financial Times days after the company decided to cut up to 800 jobs, suspend its dividend and slash growth targets for renewables, Mads Nipper said he took “full accountability” for the Danish group’s woes. It was “for the board to decide” whether he was the right person to lead the company, he added.

The company’s former finance chief, Daniel Lerup, and chief operating officer Richard Hunter stepped down in November with immediate effect, while chair Thomas Thune Andersen will step down in March after almost a decade in the job, the company added last week.

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The group recorded DKr28.4bn ($4bn) of impairments in November after saying it was stopping work on two projects off the New Jersey coast of the US.

Nipper, who joined Ørsted as chief executive at the start of 2021, said that while there had been “tough external circumstances”, the company had under his leadership made “some decisions which at the time seemed right to continue the developments, but with the knowledge we have now, were wrong”.

He added: “So I take full accountability that we have ended in this situation [ . . . ] Most importantly is what are we learning from it . . . we are taking appropriate actions to ensure we won’t get into a situation like that again.”

Ørsted’s problems come as rising interest rates and supply chain strains have pushed up costs across the offshore wind industry, threatening to slow down growth just as countries around the world set more stringent targets to decarbonise their economies.

Ørsted’s shares, listed in Copenhagen, have fallen more than 70 per cent since peaking at the start of 2021. They closed up 2.3 per cent to DKr398 on Monday, valuing the company, which is 50.1 per cent owned by the Danish state, at roughly DKr167bn.

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Rising interest rates have a stark impact on offshore wind projects, which typically have high upfront costs.

Nipper warned that the sector’s growth would slow down “dramatically” unless the price that developers are paid for their electricity reflects the higher costs. Authorities in the US and the UK have recently increased the rates they are prepared to pay to support forthcoming projects.

“The fuel of renewable energy is capital,” Nipper said. “Financing £8.5bn — 25 basis points matter and 100 matter a whole lot more. 

“For a company like ours — if interest rates go up by 3 per cent, that more than eliminates all the profit of a huge investment.”

Ørsted last week also said it would exit offshore markets in Norway, Spain and Portugal, and slow down its development of floating offshore wind.  

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That emerging technology involves positioning turbines on platforms rather than fixing them individually to the seabed, so they can be moved further out to sea where they can harness the greater wind speeds. 

Nipper said he now believed floating wind would “advance slower than anticipated” due to high costs and technological challenges. “We still don’t have mature floating platform concepts,” he said. “I think there are quite a few indicators that, at least at scale, floating will be on a somewhat later time[frame].”

He said the company had “generally had positive feedback” on its new strategy adding, “by far the majority of investors seem to think it is the right one”. 

But he continued: “We are also very aware that what matters is not the plan, it is the execution of the plan.”

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Video: Singer D4vd Is Charged With Murder of Celeste Rivas Hernandez

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Video: Singer D4vd Is Charged With Murder of Celeste Rivas Hernandez

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Singer D4vd Is Charged With Murder of Celeste Rivas Hernandez

The musician D4vd was charged with murder on Monday, seven months after the police said that the body of a teenage girl, Celeste Rivas Hernandez, had been found in the trunk of his Tesla. D4vd, whose real name is David Burke, pleaded not guilty to the charges.

“On April 23, 2025, as has been alleged by the complaint, Celeste, a 14-year-old at that time, went to Mr. Burke’s house in the Hollywood Hills. She was never heard from again.” “These charges include the most serious charges that a D.A.‘s office can bring. That is first-degree murder with special circumstances. The special circumstances being lying in wait, committing this crime for financial gain or murdering a witness in an investigation. These special circumstances carry with it, along with the first-degree murder charge, a maximum sentence of life without the possibility of parole, or the death penalty.” “We believe the actual evidence will show David Burke did not murder Celeste Revis Hernandez nor was he the cause of her death.”

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The musician D4vd was charged with murder on Monday, seven months after the police said that the body of a teenage girl, Celeste Rivas Hernandez, had been found in the trunk of his Tesla. D4vd, whose real name is David Burke, pleaded not guilty to the charges.

By Jackeline Luna

April 20, 2026

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The Onion has agreed to a new deal to take over Infowars

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The Onion has agreed to a new deal to take over Infowars

In this photo illustration, The Onion website is displayed on a computer screen, showing a satirical story titled Here’s Why I Decided To Buy ‘InfoWars’, on November 14, 2024 in Pasadena, California.

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The satirical website, The Onion, has a new deal to take over Infowars, conspiracy theorist Alex Jones’s far-right media company. If approved by a Texas judge, the deal would take away his Infowars microphone, and allow The Onion to resume its plans to turn the website into a parody of itself.

Families of those killed in the 2012 Sandy Hook Elementary School shooting, who sued Jones for defamation, want the sale to happen. They’re still waiting to collect on the nearly $1.3 billion judgement they won against Jones for spreading lies that they faked the deaths of their children in order to boost support for gun control. That prompted Jones’s followers to harass and threaten the families for years.

The families are also eager to take away Jones’s platform for spewing such conspiracy theories. The deal not only would divorce Jones from his Infowars brand, but it would turn the platform against him by allowing The Onion to mock his kind of conspiracy mongering and advocate for gun control.

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The families “took on Alex Jones to stop him from inflicting the same harm on others” by using “his corrupt business platform to torment and harass them for profit,” said Chris Mattei, one of the attorneys for the families. “When Infowars finally goes dark, the machinery of lies that Jones built will become a force for social good, thanks to the families’ courage and The Onion’s vision, persistence and stewardship.”

A mourner visits the Sandy Hook Permanent Memorial on the 10th anniversary of the school shooting on Dec.14, 2022 in Newtown, Connecticut. Twenty-six people were shot and killed, including 20 first graders and 6 educators, in one of the deadliest elementary school shootings in U.S. history.

A mourner visits the Sandy Hook Permanent Memorial on the 10th anniversary of the school shooting on Dec.14, 2022 in Newtown, Connecticut. Twenty-six people were shot and killed, including 20 first graders and 6 educators, in one of the deadliest elementary school shootings in U.S. history.

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For its part The Onion called it a “significant step in an effort to transform one of the internet’s more notorious misinformation platforms into a new comedy network for satire.” The company says it could announce its new rollout of Infowars in a matter of weeks if the judge approves the deal.

“Eight years, almost to the day, after the Sandy Hook parents first filed suit against Alex Jones, they’ll finally get some justice, and even some money,” said Ben Collins, CEO of The Onion. “This is a chance to make something genuinely new out of a very broken piece of media history.”

On its website Monday, The Onion posted a satirical message from the fictional CEO of its parent company, Global Tetrahedron, “Bryce P. Tetraeder,” stating a “dream is finally coming true.”

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Jones’s posted on X Monday that “The Onion Has Fraudulently Claimed AGAIN That It Owns Infowars!!!” adding that “The Democrat Party Disinformation Publication Is Publicly Bragging About Its Plan To Silence Alex Jones’ Infowars And Then Steal & Misrepresent His Identity!”

On a podcast in March, Jones alluded to the impending demise of Infowars, saying, “We’re getting shut down. We beat so many attacks. But finally, we’re shutting down like the middle of next month,” before insisting, “We’re going to be fine.”

Jones suggested Monday he would appeal any court decision to approve the leasing deal. And even if he loses control of Infowars, Jones could continue to broadcast from another studio, under another name.

Jones’s attorneys did not respond to a request for comment.

More than a year ago, a federal bankruptcy judge rejected The Onion’s first attempt to buy Infowars through a bankruptcy auction, saying the process was flawed. Since then, the bankruptcy court clarified that because Infowars’ parent company, Free Speech Systems, is not itself in bankruptcy, its property should be handled instead by a Texas state receiver. That cleared the way for the new pending deal to lease Infowars to The Onion, with the hope that a future sale could be approved.

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In papers filed in state court, the Texas receiver said he “determined that licensing the Intellectual Property is in the best interest of the receivership estate.”

The deal calls for The Onion to pay $81,000 a month to license the Infowars.com domain and brand name, which the receiver says will “cover carrying costs to preserve and protect the assets of the receivership estate” until an appeal filed by Jones is decided and the path is cleared for a sale.

Jones’s personal bankruptcy case is proceeding in federal bankruptcy court, where a trustee continues to sell off Jones’s personal property, including cars, homes, watches and guns, with proceeds intended for the families.

A memorial to massacre victims stands near the former site of Sandy Hook Elementary on Dec. 14, 2013 in Newtown, Connecticut, one year after  Adam Lanza shot and killed 20 first graders and six adults at the school.

A memorial to massacre victims stands near the former site of Sandy Hook Elementary on Dec. 14, 2013 in Newtown, Connecticut, one year after Adam Lanza shot and killed 20 first graders and six adults at the school.

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Tehran says ‘no plans’ for new talks after US seizes Iranian cargo ship

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Tehran says ‘no plans’ for new talks after US seizes Iranian cargo ship

US negotiators to head to Pakistan and Iranian cargo ship seized – a recappublished at 00:37 BST 20 April

Image source, Reuters
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Tankers in the Strait of Hormuz on Saturday

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Here’s a recap of the latest developments.

US negotiators will head to Pakistan on Monday with the intention of holding further talks on ending the war, Trump says – but Iranian state media cites unnamed officials as saying Tehran has “no plans for now to participate”.

The prospect of further high-level negotiations – a White House official says Vice-President JD Vance will attend – comes amid reports of fresh attacks on commercial vessels.

Trump says the navy intercepted and took “custody” of an Iranian tanker attempting to pass through the US blockade, “blowing a hole” in the ship’s engine room in the process.

Earlier, in the same post announcing his representatives would travel for more talks, Trump renewed his threat to destroy Iranian energy sites and bridges if no deal is reached.

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Reports in Iranian media over the weekend suggest Iran is continuing to work on plans to potentially apply a toll to ships passing through the strait – although it’s unclear if such a move will be implemented.

Iranian state TV cites unnamed officials as saying that “continuation of the so-called naval blockade, violation of the ceasefire and threatening US rhetoric” are slowing progress in reaching an agreement.

Trump also accused Iran of violating the ceasefire, saying more commercial ships have been attacked by Iran in the Strait of Hormuz.

A UK maritime agency reported two commercial ships came under fire in the strait on Saturday.

Iran’s foreign minister had said on Friday that the strait would be opened – which was shortly followed by Trump saying the US naval blockade of Iranian ports would remain in place until a deal is reached. Iran has since said the strait is closed again.

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