47 stories found
Volkswagen reported a significant 14-28% drop in its first-quarter profit, primarily due to weak demand, increased tariffs, and competition in markets like China and the US. This decline comes as the broader German economy experienced slight growth of 0.3% at the beginning of the year, despite ongoing geopolitical tensions.
A consortium of banks has initiated the sale of a $2 billion loan package to finance the buyout of BASF Coatings.
German chemical giant BASF has inaugurated a massive new plant in southern China, proceeding with the investment despite significant overcapacities, a weakening economy, and local competition.
German chemical company BASF is opening a new mega-factory in Zhanjiang, China, representing a record investment of nearly nine billion euros, despite associated risks.
German chemical giant BASF has divested a $291 million stake in the energy company Harbour Energy.
BASF has constructed the world's "most modern chemical production facility" on an island in South China, marking a significant development for the company's global operations.
US President Donald Trump confirmed Iran allowed ten oil tankers to pass through the Strait of Hormuz as a 'gift,' with John Bolton suggesting the 'big present' is likely an oil-filled tanker. Trump also stated that taking control of Iranian oil, similar to Venezuela, is an option he is considering.
Pakistan's Deputy Prime Minister and Foreign Minister Ishaq Dar confirmed that US-Iran 'indirect talks' are taking place through messages relayed by Pakistan, with Pakistan successfully intervening to prevent Israel from targeting senior Iranian officials Abbas Aragchi and Mohammad Bagher Qalibaf.
German chemical giant BASF is opening a new plant in China, investing in the rapidly growing Chinese chemical market despite facing significant risks.
Chemicals Giant BASF Hikes Prices Again as Mideast War Drives Up Costs WSJ
BASF CEO Markus Kamieth has stated that there are significant opportunities for profitable growth in China, despite a slowdown in the Chinese economy, following the company's investment of nine billion euros in a new plant in the Far East.
Chemical giant BASF has announced a 30% price increase across its household, industrial cleaning, and industrial formulator product portfolios in Europe, attributing the hike to the ongoing conflict in the Middle East.
BASF hikes prices as Iran war heaps fresh cost pressure on Europe
BASF raises prices amid Iran war cost pressure
BASF SE released its financial results, reporting a Non-GAAP EPS of €2.24 and total revenue of €59.66 billion.
The Wall Street Journal provides a roundup of market talk concerning the basic materials sector. This report offers insights into current trends and discussions within the industry.
Major tech companies released their latest earnings reports, with Google posting strong results. However, Meta's shares experienced a significant decline as investors reacted to the company's substantial planned investments in AI.
BASF has announced another price increase for its plastic additives, attributing the decision to ongoing disruptions caused by the conflict in the Middle East. This marks a further impact of geopolitical events on industrial supply chains.
Joachim Thiel, a long-time BASF employee, has successfully overseen the construction of the world's most modern chemical factory in China for the company.
BASF is making a strategic shift in its global operations, investing nearly nine billion euros in a single location in China, marking the largest individual investment in the company's history, while simultaneously implementing savings measures in Germany.
BASF has divested its $291 million stake in Harbour Energy, marking a significant corporate transaction.
BASF has inaugurated its new mega-plant in Zhanjiang, China, representing a record investment of 9 billion Euros, despite associated risks. The company's CEO remains undeterred by the challenges.
BASF Opens $11.6 Billion Chinese Site as Iran War Stokes Turmoil Bloomberg.com
Global recession warnings intensify as the Iran War drives Brent crude above $100 per barrel, causing significant market volatility and prompting India to fast-track oil and LPG import deals amid Middle East supply shocks. Airlines are raising fares due to spiking jet fuel prices and tightening supplies, while investors closely watch the volatile oil market reacting to every change and lingering risks of a prolonged US-Iran conflict.
Chemicals giant BASF has announced another price hike, attributing the increase to rising costs driven by the ongoing conflict in the Middle East.
The European Patent Office (EPO) has recorded over 200,000 patent applications for the first time, with Germany ranking second behind the USA and companies like Siemens and BASF among the top ten.
BASF CEO Markus Kamieth expressed optimism about profitable growth in China, even as the Chinese economy slows, following the company's 9 billion euro investment in a new plant in the Far East.
BASF has increased its prices as the ongoing Iran war places fresh cost pressures on European industries, impacting supply chains and raw material costs.
BASF announced plans to increase some of its prices by up to 30% or more, citing soaring energy and raw materials costs as the primary drivers for the significant hike.
BASF, the world's largest chemical company and a symbol of Germany's economic boom, is currently in a crisis, with its main plant in Ludwigshafen particularly affected.
German chemical giant BASF is preparing for another challenging year by intensifying its savings program and cutting investments, a move that has negatively impacted its stock.
Banks are preparing to sell the €4 billion buyout debt associated with BASF Coatings, indicating a significant transaction in the financial market.
A US judge has ruled that Duracell, a subsidiary of Berkshire Hathaway, must proceed with a lawsuit filed by BASF concerning alleged theft of battery trade secrets.
BASF Agricultural Solutions announced plans to hire more than 50 employees for corporate and governance roles in its Bucharest office. This expansion reflects the company's growth and investment in the region.
BASF has completed the sale of a $291 million stake in Harbour Energy, as reported by the Wall Street Journal.
German chemical giant BASF has divested a $291 million stake in energy company Harbour Energy.
BASF has sold a $291 million stake in Harbour Energy, adjusting its portfolio in a significant transaction.
The Middle East conflict continues to drive global economic concerns, with Europe bracing for a supply crunch and price shock, Euro zone consumers turning gloomier, and developing Asia and Pacific facing potential inflation hikes. European shares and global stocks and bonds have slid as the crisis pushes oil prices above $105, exacerbating a war-fuelled energy crisis felt across various sectors and regions.
Despite a global demand slump, BASF has inaugurated its new production site in Zhanjiang, China, with CEO Kamieth expressing unwavering confidence in the company's largest-ever investment and even seeing opportunity in the Strait of Hormuz blockade.
Former President Trump has reiterated his rejection of a ceasefire with Iran, asserting that Iran desires a deal but fears its own people and the US. Meanwhile, oil prices continue to climb past $100, driven by lingering risks of a prolonged US-Iran war, impacting global powers as Trump and Xi pursue energy dominance, with Europe particularly vulnerable.
Chemicals giant BASF has announced another round of price increases, citing the escalating costs driven by the ongoing conflict in the Middle East.
BASF has successfully completed its ninth school project in Vietnam, contributing to educational infrastructure in the country.
The ongoing Iran war is reportedly casting a shadow over the nascent revival efforts of the German chemicals giant BASF, indicating that its turnaround remains a work in progress.
BASF has increased its prices, citing the Iran War as a factor contributing to fresh cost pressures on European industries.
BASF plans to increase some of its prices by 30% or more, citing a significant rise in energy and raw materials costs as the primary reason.
BASF announced a difficult start to the new year, indicating that more cost-cutting measures will be necessary to navigate the challenging economic environment.
Fluggesellschaft erlaubt 30-Kilo-Hunde an Bord +++ BASF verschärft das Sparprogramm +++ Warner-Übernahme durch Paramount besiegelt +++ Rekordgewinn für Swiss Re +++ Neuigkeiten im…