Oct 13, 2026, 09:30 PM UTC

The Icelandic Meteorological Office has issued yellow and orange weather warnings across the country as an unusually deep low-pressure system approaches. Weather forecasters expect conditions to deteriorate on Wednesday, bringing strong eastern and northeastern gales, heavy rainfall in lowlands, and snow on mountain passes.

Yellow warnings will take effect in southern, western, and northwestern regions from Wednesday morning through the afternoon. Orange warnings will follow in the Westfjords and northwestern coastal areas later in the evening. Meteorologists emphasized that the storm is exceptionally intense for the season, warning that travel conditions may become hazardous or impossible in certain areas as wind gusts escalate. Officials noted that additional warnings could be issued if forecasts evolve.

Sources: Morgunblaðið, Vísir, Iceland Monitor.

Investment firm KKR has achieved a record year for asset sales by adopting a systematic approach to business exits, according to partner Alisa Wood. Speaking at the CAIS Summit in Beverly Hills, Wood explained that the firm maintains a linear exit strategy rather than waiting for initial public offering markets to reopen.

Addressing broader industry conditions, Wood described the current private equity landscape as increasingly crowded. She noted that the proliferation of funds could constrain the ability of smaller asset managers to generate value. Her comments highlight ongoing challenges in the sector, where larger firms leverage diverse exit routes while smaller managers navigate tougher operational environments.

Sources: Bloomberg