Ørsted shares fall 25% after it reveals troubles in US business

Shares in the world’s largest offshore wind company tumbled by nearly a quarter on Wednesday, after it said it may have to write down the value of its US portfolio by nearly £2bn. Ørsted said it had been hit by a flurry of setbacks in its American business, triggering a rapid sell-off in its shares, listed in Copenhagen. In their haste to dump the stock, investors had cut the notional value of the business by nearly £7bn by the time the market closed on Wednesday. It pointed to significant problems in the supply chain that are likely to affect Ocean Wind 1, Sunrise Wind, and Revolution Wind, planned windfarms off the eastern seaboard of the US. >>click to read<< 13:32

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