Chemical Industry News
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Traders are standing by Platts, the company that provides benchmark prices for much of the world’s energy products, amid a European probe into market manipulation.
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Three of Europe’s biggest oil explorers are among companies being questioned by European antitrust regulators about potential manipulation of prices in the $3.4 trillion-a-year global crude market.
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Two weeks after Royal Dutch Shell Plc and Platts changed the way more than half of the world’s crude is valued, the companies along with BP Plc and Statoil ASA are being probed by European antitrust regulators about potential manipulation of oil prices.
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Five years after Congress mandated that sales of ammonium nitrate, the chemical implicated in last month’s fatal Texas blast, be tracked, rules to do that haven’t been issued by the federal government.
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Methanex Corp., the world’s largest methanol supplier, is forecast by analysts to climb beyond last month’s record price as demand rises for the chemical as a fuel source in countries such as China.
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As lawmakers pushed a bill to tighten U.S. security standards on chemical factories, fertilizer depots and water-treatment plants in 2009, they faced a formidable opponent: the U.S. business community.
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Brazil, the biggest ethanol exporter, will give tax deductions and extend low-cost credit to mills in a bid to lift output and reduce fossil-fuel imports.
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Most emerging-market stocks fell as declines in China outweighed a rally in Latin American shares. Brazil’s Ibovespa advanced for a fourth day.
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Braskem SA, Latin America’s largest petrochemicals maker, rose to a two-year high as Citigroup Inc. and JPMorgan Chase & Co. recommended buying the stock after the government cut taxes for the industry.
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Braskem SA, Latin America’s largest petrochemicals maker, rose to a 19-month high as Banco Santander SA joined Citigroup Inc. and JPMorgan Chase & Co. in raising the stock to buy after Brazil cut the industry’s taxes.
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