Category World News

Novo Nordisk, the maker of blockbuster weight loss medication Wegovy, will cut 9,000 jobs amid growing competition in the industry led by US rival Eli Lilly.

The Danish pharmaceutical giant announced the cuts on Wednesday, marking the largest layoff in Denmark’s history. The restructuring is slated to save the company 8 billion Danish crowns ($1.25bn) annually.

This comes amid changes in the company’s C-suite. Last month, Novo named Maziar Mike Doustdar as CEO to replace Lars Fruergaard Jorgensen.

Once Europe’s most valuable company by market capitalisation, Novo has seen its market cap fall to roughly $181bn from its peak last year of $650bn. At the time, Novo’s market cap exceeded Denmark’s annual gross domestic product.

On Wednesday, the company issued its third profit warning this year.

“They need to reignite investor confidence with an appealing growth story for the future,” said Novo Nordisk shareholder Lukas Leu, a portfolio manager at ATG Healthcare, to the Reuters news agency.

“The obesity market was misjudged. It’s much more consumer-driven than anticipated, and Novo expanded organisational complexity too quickly.”

Rise and fall

The Danish pharma giant’s surge in growth began in 2021, when Wegovy was the first highly effective obesity drug to be approved in the United States. Novo Nordisk nearly doubled its headcount over the last five years amid its then surge in growth, which drove it to become Europe’s most valuable company — a title it has gone back and forth with over the last year with the owner of Moet Hennessy and Louis Vuitton, LVMH.

The company, which is based in Bagsvaerd just outside Copenhagen, has 78,400 workers. Last month, it announced a hiring freeze on non-essential roles. The new cuts will account for 11.5 percent of the company’s total workforce, with at least 5,000 cuts from the workforce in Denmark. Novo Nordisk declined to specify which business units would be impacted.

In July, Novo lost $70bn in market value as it warned of a hit in profits amidst increased competition in a market it once dominated.

Bank of America analysts said they now expect Novo to issue a fourth profit warning when it reports third-quarter results in November, doubting the company can meet the top end of its sales guidance.

Novo is slimming down while also trying to boost output to meet rising demand for its products and readying the pill version of Wegovy as well as exploring the additional health benefits of its glucagon-like peptide-1 (GLP-1) portfolio.

In the fourth quarter, it expects to save at least one billion Danish crowns ($157m), which it plans to redirect into research and development, manufacturing expansion, and improving global patient access.

“We need to have the best-in-class launches, especially as competition is increasing,” Doustdar said in a call with reporters. “We want to make sure we don’t have to spare a dime.”

“This is the new CEO’s first major move to simplify Novo’s structure and redirect resources toward growth in diabetes and obesity,” said Michael Novod, head of equity research for Denmark at Nordea Bank.

Increased competition

Novo Nordisk has faced challenges as sales of Wegovy and diabetes treatment medication Ozempic begin to lose momentum, particularly in the United States.

Eli Lilly’s Zepbound overtook Wegovy in weekly prescriptions in the US earlier this year, although Wegovy prescriptions began to increase at a faster pace over the summer, narrowing Lilly’s lead in the critical market.

On Tuesday, Israel launched a targeted air strike on a Hamas leadership compound in Qatar’s capital, Doha, during a meeting to discuss a US-proposed ceasefire for Gaza.

The strike killed six people, including the son of senior Hamas leader Khalil al-Hayya, the director of al-Hayya’s office, three bodyguards and a Qatari security officer. However, its top leaders are reported to have survived the attack.

The attack was part of a wider wave of Israeli strikes extending beyond its immediate borders, and marked the sixth country attacked in just 72 hours and the seventh since the start of this year.

Israel continues to bombard Gaza

Israeli attacks across Gaza have killed at least 150 people and injured more than 540 others since Monday.

On Monday, 67 people were killed and hospitals received 320 wounded, including 14 people killed while seeking aid, while six people – among them two children – died from famine-related causes. On Tuesday, another 83 people were killed and 223 were injured.

Israel is continuing its assault on Gaza City, targeting high-rise buildings, destroying infrastructure, and forcing residents from their homes, leaving many with nowhere safe to seek shelter.

Since its onset in October 2023, Israel’s war on Gaza has killed at least 64,656 people, including at least 404 who have died of starvation. Thousands more have been lost under the rubble and are believed to be dead.

Despite a truce, Israel bombs Lebanon

On Monday at 1:00pm local time (10:00am GMT), Israeli warplanes carried out strikes in the Bekaa and Hermel districts of eastern Lebanon, killing at least five people.

Israel’s military claimed it had struck weapons depots and military facilities used by Hezbollah, though the assertion could not be independently verified. Hezbollah has not yet issued a response.

The attacks marked the latest breach of a ceasefire agreement signed last November.

Despite the truce, Israel has continued near-daily assaults on Lebanese territory, particularly in the south, and maintains an occupation at five border outposts in violation of the ceasefire’s withdrawal terms.

On Tuesday, an Israeli drone strike was reported at the entrance of the village of Barja, about 30km (19 miles) south of Beirut, wounding a Hezbollah member.

Israel targets Syria

On late Monday night, Israeli warplanes struck several sites in Syria, hitting a Syrian air force base in Homs and a military barracks near Latakia, according to the UK-based Syrian Observatory for Human Rights (SOHR).

Residents reported powerful explosions in Homs and ambulances rushing to the scene in Latakia, though there were no immediate reports of casualties.

Syria’s Ministry of Foreign Affairs and Expatriates condemned the attacks as a “blatant violation” of its sovereignty and a “direct threat” to its national and regional security. State media described the strikes as part of “a series of aggressive escalations” by Israel aimed at undermining Syrian sovereignty.

Since the fall of former President Bashar al-Assad in December 2024, Israel has launched hundreds of strikes on military sites and infrastructure across Syria. It has also expanded its presence in the occupied Golan Heights by seizing the demilitarised buffer zone, in violation of a 1974 disengagement agreement with Damascus.

The SOHR reports that Israel has already carried out nearly 100 attacks this year, including 86 air raids and 11 ground assaults, destroying approximately 135 sites and killing 61 people.

Gaza flotilla attacked twice off the coast of Tunisia

On Monday night, the Global Sumud Flotilla’s (GSF) main ship, the Family Boat, was struck by a suspected Israeli drone while docked at the Tunisian port of Sidi Bou Said, igniting a fire.

The 23-metre (76-foot) vessel, sailing under a Portuguese flag and carrying the flotilla’s steering committee, had six people on board. According to the GSF, the blaze damaged the main deck and storage areas but was quickly extinguished by passengers. All crew and activists were reported as safe.

The Family Boat is part of a coalition of more than 50 vessels with delegates from at least 44 nations seeking to challenge Israel’s blockade of Gaza. It departed on August 31, 2025, before joining other ships at Sidi Bou Said port.

A second attack followed late on Tuesday night, when another flotilla vessel, the Alma, sailing under a UK flag, was also targeted by a suspected Israeli drone in Tunisian waters. The GSF said the strike caused fire damage to the ship’s top deck, though the flames were brought under control and no casualties were reported.

Since 2010, several flotillas have attempted to break the blockade of Gaza, with most being intercepted or attacked by Israel in international waters.

Israel targets Hamas leaders in Qatar

The attack on Qatar, nearly 2,000 km (1,243 miles) from Israel, marks the first time Israel has struck the small Gulf nation, which has hosted multiple rounds of negotiations between Hamas, Israel and the United States.

The explosions were heard across Doha with thick smoke rising above the skyline. Israel’s military later confirmed it had struck a compound in the West Bay Lagoon area, a district which is home to foreign embassies, schools, nurseries, supermarkets and residential compounds housing native Qataris and foreign residents.

The Hamas leadership has been hosted by Qatar at the request of the United States, which also has a regional command centre, CENTCOM, located just 35km (22 miles) away from the location of the attack.

Israel attacks Yemen’s capital

Israel launched an air strike on Yemen’s capital, Sanaa, on Wednesday, targeting Houthi positions. The strike hit Sanaa airport, marking the second attack on the site in a month. Israel previously struck Sanaa airport on May 6, destroying its terminal building and badly damaging the runway.

On August 28, 2025, Israeli air strikes targeted a Houthi government meeting in the capital, killing Houthi Prime Minister Ahmed al-Rahawi and several other senior officials.

Israeli air strikes hit Yemen’s capital Sanaa a day after Israel targeted Qatar’s capital Doha. Initial reports say several people were killed and dozens injured. The Israeli military says a Houthi missile was fired at Jerusalem yesterday following the Israeli attack on Qatar.

On Tuesday afternoon, the Israeli military targeted Hamas leaders in Doha, drawing near universal condemnation and, according to analysts, crossing all previous red lines.

The attack reportedly targeted Khalil al-Hayya, the group’s exiled Gaza leader and main negotiator, who has risen up the ranks after Israel assassinated Yahya Sinwar in Gaza and Ismail Haniyeh in Tehran last year. Qatar has hosted Hamas’s political office since 2012 at the request of the United States, according to Qatari officials.

The attack came as Doha, which hosts the US’s largest military base in the region, hosted ongoing ceasefire talks to try and end Israel’s war on Gaza, which has now killed more than 64,600 people and wounded more than 163,000 since October 2023.

Immediately after Israel’s attack, a wave of conflicting information and speculation emerged, particularly over whether or not the US had been informed of the attack.

How was the attack planned, who knew about it, and why did it happen now?

What do we know?

Israel admitted to the attack almost immediately.

“Israel initiated it, Israel conducted it, and Israel takes full responsibility,” a statement by Israel’s Prime Minister Benjamin Netanyahu said.

Israeli media claimed the operation included the use of 15 Israeli fighter jets that dropped 10 bombs. It also included the use of drones.

The attack targeted Hamas leadership, who were meeting to discuss US President Donald Trump’s ceasefire proposal, but they survived. However, six others, including a Qatari security officer, were killed.

Qatar’s Foreign Minister Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani called the assault “state terrorism”, promising to respond to the strikes, which he said “must not be overlooked”.

How long had it been planned for?

Israeli media claims the operation, which was labelled “Summit of Fire”, took “months of preparation”.

Israeli officials also told CNN that the decision to attack Doha was taken a while ago, while planning took place over two to three months, accelerating in recent weeks.

During the actual attack, Netanyahu was stationed in the Shin Bet domestic intelligence headquarters.

Until now, Qatar has been the base for negotiations between Hamas and Israel. Due to that fact and the presence of a US military base in Doha, many believed it to be off limits to Israeli attacks.

But that veil of safety seems to have been part of Israel’s plan, defence analyst Hamze Attar said.

“Israel [has been] incubating that Doha is a safe zone for Hamas leadership to gather,” Attar, who is based in Luxembourg, told Al Jazeera. “This is not an operation that happens in a day or two. This is something you create for many years in order to create a safe haven for someone so they keep going there and [eventually] eliminate them in a way they do not expect.”

Whose airspace did Israel use to travel to Qatar?

It’s not entirely clear.

When Israel attacked Iran earlier in the year, its planes used Syrian and Iraqi airspace, since neither country has the capacity to shoot down Israeli planes.

Jordan, which does have air defence systems, claimed Israel did not use its airspace for the attack.

Why did Israel attack now?

While the operation had been planned for months, Netanyahu said it was a response to a shooting in occupied East Jerusalem that killed six people on Monday.

But some analysts doubt Netanyahu’s explanation.

Right before the attack, Trump was ramping up his calls for a ceasefire. Netanyahu, however, may not be interested in a deal.

“I think the bottom line here is that Israel clearly is not interested in any kind of ceasefire or negotiations for a ceasefire, that the reports about Trump’s proposal negotiating with Hamas, whatever this revised new offer was, was all a ruse and theatre and clearly a coordinated Israel-US attack in Doha,” Mairav Zonszein, the International Crisis Group’s senior analyst on Israel, told Al Jazeera.

Other patterns have also emerged that cast doubt on Netanyahu’s explanation.

For months, Israel’s premier has also launched military attacks that coincide with demands that he appear in court. Netanyahu is currently on trial over corruption charges.

And on Wednesday, Netanyahu returned to court to testify in his corruption trial. Footage showed Netanyahu entering the courtroom in Tel Aviv as proceedings in the trial resumed for the first time in more than a month.

The attack also came amid Israeli demands that Palestinians leave Gaza City in the Gaza Strip, where hundreds of thousands are taking refuge from Israel’s war on Gaza. Many Palestinians have been displaced multiple times and can no longer afford to evacuate, which could lead to many more civilian casualties amid already growing international pressure over what scholars and human rights groups are calling Israel’s genocide of Palestinians in Gaza, where famine has been declared.

Did the US know about the attack?

The White House, including Trump himself, said the US government was informed about the attack, but did not give many details.

“The Trump administration was notified by the United States military that Israel was attacking Hamas, which, very unfortunately, was located in a section of Doha, the capital of Qatar,” White House spokesperson Karoline Leavitt told reporters.

Leavitt said that Trump told US Special Envoy to the Middle East Steve Witkoff to “inform the Qataris of an impending attack”.

With the US Al Udeid airbase in Qatar, analysts said it would be difficult for Israel to pull off such an attack without being detected by the Americans.

Still, despite the advanced knowledge, the US expressed discontent over Israel’s actions.

Trump said he was “not thrilled” by the attack when interviewed by reporters.

“This was a decision made by [Israeli] Prime Minister Netanyahu, it was not a decision made by me,” Trump wrote on his Truth Social platform.

This sentiment was bolstered by Leavitt, who told reporters during a press conference: “Unilaterally bombing inside Qatar, a sovereign nation and close ally of the United States that is working very hard and bravely taking risks with us to broker peace, does not advance Israel or America’s goals. However, eliminating Hamas, who have profited off the misery of those living in Gaza, is a worthy goal.”

Was Qatar informed?

Qatari officials said that by the time they were informed of the preplanned attack, explosions were already ringing out across Doha.

Prime Minister Mohammed bin Abdulrahman bin Jassim Al Thani said the call from the US came 10 minutes after the attack had already begun.

Furthermore, Majed al-Ansari, a spokesperson for Qatar’s Ministry of Foreign Affairs, said claims that the government had been “pre-informed of the attack are completely false”.

Two of boxing’s greatest fighters, Saul “Canelo” Alvarez and Terence “Bud” Crawford, will put their legacies on the line when they meet in a contest being called the “Fight of the Century”.

The pair will clash in a fascinating unified super middleweight title matchup in the United States that sees Alvarez, the reigning super middleweight champion at 76kg (168lb), defend his titles against Crawford, an American who has won 10 world titles boxing at lighter weight classifications but has never fought in excess of 70kg (154lb) and is jumping up two weight classes to fight his Mexican opponent.

Here’s what you need to know before the fight:

When is the Alvarez-Crawford fight?

The ring walk for Saturday’s main fight in Las Vegas, Nevada, is scheduled for 8pm (03:00 GMT Sunday), and the bout will begin a short time later.

Where is the Alvarez-Crawford fight taking place?

The venue for the match is the 65,000-seat Allegiant Stadium, home to the Las Vegas Raiders NFL team.

The venue is being used because it has a much larger capacity than other indoor boxing venues typically used, namely T-Mobile Arena, which holds 20,000 people for boxing and UFC contests.

Where can I follow and watch the fight live?

You can follow Al Jazeera’s build-up and live fight text and photo coverage here.

The bout will be streamed live globally on Netflix. A subscription is required to watch the event.

What are the pre-fight events?

Building up to the fight, the main news conference will occur at 3pm (22:00 GMT) on Thursday at T-Mobile Arena.

The official weigh-in will take place on Friday at 3pm (22:00 GMT), also at T-Mobile Arena.

What titles are Alvarez and Crawford fighting for?

Alvarez and Crawford are fighting for the Mexican’s WBO, WBA, IBF and WBC super middleweight world titles as well as the Ring Magazine title.

If Crawford beats Alvarez, he will become the first male boxer to be a three-weight-class undisputed champion in the four-belt era.

How much weight does Crawford have to gain to fight Alvarez?

Crawford, the current WBA super welterweight champion, will jump up about 6kg (14lb) to reach the 76kg (168lb) weight limit for the super middleweight bout against Alvarez.

The American will have a slight height advantage over Alvarez, standing 1.73 metres (5ft, 8 inches) vs his opponent’s 1.71 metres (5ft, 7.5 inches).

Crawford also has a 10cm (4-inch) reach advantage over the Mexican fighter (188cm/74 inches vs 178cm/70 inches).

Is Crawford carrying a shoulder injury?

There has been constant speculation in recent days that Crawford is struggling with a shoulder injury heading into Saturday’s huge fight.

In a Fight Hub TV interview broadcast on Tuesday, he denied the injury rumours.

“Where I got the shoulder injury from, I don’t know. I see people coming up with all their own antics, you know ‘Terrence Crawford got a shoulder injury,’ ‘Terrence Crawford is out of shape,’ ‘Terrence Crawford’s slow.’ They coming up with all kinds of stuff,” he said.

Who is Canelo Alvarez?

Alvarez (61-2-2, 39 KOs), is Mexico’s biggest boxing star and a winner of 11 boxing world titles over an illustrious 20-year career.

The orthodox fighter never enjoyed a sterling amateur career, having turned professional at just 15 years old.

The 35-year-old is a four-division world champion: light middleweight, middleweight, super middleweight and light heavyweight.

In 2021, Alvarez became the first and only boxer in history to become the undisputed super middleweight champion when he knocked out Caleb Plant.

His two career losses have come against fellow legends Floyd Mayweather Jr and Dmitry Bivol but did little to dent Alvarez’s enormous popularity with boxing fans across the world.

Who is Terence Crawford?

Crawford (40-0, 31 KOs) from Omaha, Nebraska, began his boxing career in 2008 and is undefeated as a professional.

The 37-year-old southpaw, who has won 10-world titles in total, is a former lightweight champion, junior welterweight undisputed champion and welterweight undisputed champion. Crawford is the current unified welterweight champion and WBA junior middleweight champion.

For his career, he is a four-division world champion and has held undisputed titles in two weight classes: super lightweight and welterweight.

Who is on the undercard?

The preliminary card is scheduled to begin at 3:30pm (22:30 GMT) and the main card at 6pm (01:00 GMT on Sunday).

Main event:

• Alvarez vs Crawford (super middleweight)
• Callum Walsh vs Fernando Vargas Jr (super welterweight – co-main event)
• Christian Mbilli vs Lester Martinez (super middleweight)
• Mohammed Alakel vs John Ornelas (lightweight)

Preliminary card:

• Serhii Bohachuk vs Brandon Adams (middleweight)
• Ivan Dychko vs Jermaine Franklin (heavyweight)
• Reito Tsutsumi vs Javier Martinez (super featherweight)
• Sultan Almohammed vs Martin Caraballo (super lightweight)
• Steven Nelson vs Raiko Santana (light heavyweight)
• Marco Verde vs Marcos Osorio Betancourt (super middleweight)

What is the fight purse?

The total prize money has not been revealed, but it has been calculated as high as $150m, according to multiple media reports.

Alvarez will have a career-high payday with the Mexican earning a minimum of $100m for this fight thanks to signing one of the most lucrative boxing contracts in history: an astronomical five-fight, $400m deal with Saudi promoter Turki Al-Sheikh’s Riyadh Season.

Crawford is guaranteed a minimum of $10m although his final figure is likely to be substantially higher with bonuses and other payments.

Crawford, when asked about rumours of a $50m payday during a recent interview on the Ring Champs podcast, rejected the figure.

“I got $10m for that fight [with Alvarez],” Crawford said of his guaranteed prize purse.

What has Alvarez said about the fight?

Alvarez, speaking at the Grand Arrivals event in Las Vegas on Tuesday, asked whether Crawford’s team have underestimated moving up two weight classes.

“No, they don’t [underestimate the weight class]. Maybe they know, but if not, then I’m going to remind them September 13 I can do a lot of things in the ring, and I’m going to put everything there on Saturday night,” he said.

When asked about Crawford’s recent social post that appears to reveal extra muscle mass on the American fighter, Alvarez commented that he thought that bodes well for a competitive contest.

“I feel happy because you know that you realise it’s going to be a good fight. So we expect a good fight.”

What has Crawford said about the fight?

Crawford is calling the matchup the biggest fight in boxing in “probably a decade” as he bids to become the first male boxer to be undisputed in three weight classes.

“Canelo don’t want to lose to a guy moving up two weight classes,” Crawford said. “You know, he don’t want a smaller guy dethroning him from his undisputed status. Terence Crawford wants to move up and do all those things.

“He’s got a lot to lose. I got a lot to win. I got a lot to lose. He’s got a lot to win.”

The American praised Alvarez’s experience and career while backing his own tools to carry the night.

“Canelo is very experienced. I’m very experienced as well. You got two experienced fighters going head-to-head. The best man is going to win,” he said, adding that his footwork and speed could be decisive.

“I admire his whole career. He and his team have done a tremendous job,” Crawford said, adding that after he wins the battle, he will wish Alvarez “nothing but the best”.

Crawford predicted how the bout would end: “Victory. A good victory… They’re going to be saying that I’m the greatest of this generation and this era.”

Who is the favourite to win the match?

Multiple betting agencies around the world have Alvarez as the favourite to win the fight – but not by a wide margin.