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NEWS ABOUT: Dow Chemical Co.

GE Hiring Thousands of US Veterans

Firm to invest $580K in aviation plants amid effort to reboot economy

(Newser) - As General Electric prepares to host an economic summit in Washington, the firm has announced some fixes of its own: It will hire 5,000 US veterans over five years and invest $580 million in its aviation operations this year, Reuters reports. "We should have the confidence to act... More »

Big Biz Can Only Donate So Much to Bobby Jindal...

... but is throwing a lot at his wife's nonprofit

(Newser) - If a corporation needs to get on Louisiana Gov. Bobby Jindal's good side, there's a limit to how much it can donate to his campaign in order to do so. But there's no limit to how much it can donate to his wife's nonprofit. The Supriya Jindal Foundation for Louisiana's... More »

Big Biz Pays Chamber of Commerce to Fight Its Battles

Handful of anonymous corporate donors account for bulk of funding

(Newser) - The foreign money that's been funneling into the Chamber of Commerce looks like small potatoes in light of a new analysis from the New York Times that found nearly half of the Chamber's $140 million in 2008 contributions came from 45 anonymous corporate donors who step up the spending when... More »

Execs Found Guilty 25 Years After Bhopal Disaster

Union Carbide bosses guilty of death by negligence

(Newser) - More than a quarter-century after one of the worst industrial disasters in history, the verdicts are in. An Indian court has found 8 former executives at Union Carbide's Indian subsidiary guilty of causing death by negligence for their role in 1984's Bhopal disaster, CNN reports. A leak at the chemical... More »

Upbeat Earnings Have CEOs Singing Rebound

(Newser) - CEOs and investors have springs in their steps. After a week full of positive earnings reports, many now believe worst is over, the Wall Street Journal reports. Yesterday saw a slew of reports that matched or beat estimates, including Motorola, Goodyear, Sony, and Kellogg Co. The economy “has found... More »

Would-Be Car-Battery Kings Jostle Over $2.4B From Feds

States seek to become lithium-ion capital of US

(Newser) - Some 165 companies and states are battling for a $2.4 billion Obama administration grant aimed at making the US a leader in electric-car batteries, the Wall Street Journal reports. General Motors, Dow Chemical, and General Electric are among the firms vying for the money; states like Michigan, Kentucky, and... More »

Earnings Send Stocks Higher

(Newser) - Stocks surged at the open, as better-than-expected earnings buoyed hopes that the economy is ready for a comeback, the Wall Street Journal reports. The Dow was up 71 points, while the S&P and Nasdaq rose 8 and 20 points, respectively. Earnings reports have been surprisingly good this quarter; about... More »

Dow Drops 32; Crude Rises

Rohm & Haas, Dow Chemical fall on scuttled Kuwait deal

(Newser) - Stocks saw light losses today as news of trouble in Rohm & Haas’ acquisition of Dow Chemical hurt materials and crude staged a comeback on renewed Middle East tension, MarketWatch reports. The Dow closed down 31.62 points at 8,483.93. The Nasdaq fell 19.92 to close at... More »

Stocks Flat as Oil Surges

Case Schiller likely to throw this out of whack later

(Newser) - Oil prices soared this morning, as Middle East tensions reached a fever pitch, but stocks barely budged, with the Dow rising a mere 1.83 points, while the Nasdaq and S&P moved up 0.44 and 5.18 respectively. Oil rose above $40 thanks to Israel’s dramatic attacks... More »

Dow Chemical to Slash 5,000 Jobs, Close 20 Plants

Moves will save company about $700 million

(AP) - Dow Chemical Co. will slash 5,000 full-time jobs—about 11% of its total work force—close 20 plants, and sell several businesses to rein in costs amid the recession, the company announced today. One of the largest chemical makers in the world, Dow expects the moves to save about... More »

Dow Chemical Drops $15.3B on Rohm & Haas

Deal may signal start of consolidation in chemical industry

(Newser) - In what may be the beginning of a long-anticipated consolidation of the chemical industry, Dow Chemical today said it was buying coatings and electronic-materials company Rohm & Haas in a $15.3 billion all-cash deal, reports the Wall Street Journal. Dow is backed by $3 billion from Warren Buffett's Berkshire... More »

Dow Hikes Prices 20% on Chemicals in Many Products

Chemical company rips feds for energy policy it blames for higher costs

(Newser) - Skyrocketing energy costs prompted Dow Chemical to bump prices up to 20% yesterday on compounds that are the building blocks for thousands of consumer products, fanning inflation fears. Dow, one of the world’s largest chemical companies, ripped Washington for an energy policy it says has raised its energy costs... More »

Dow Chemical Sells 50% of Plastics Biz to Kuwait for $9.5B

Deal gets firm access to cheap raw materials

(Newser) - Kuwait’s national oil company agreed to buy a 50% stake in Dow Chemical’s plastics divisions for $9.5 billion, marking the biggest overseas investment by a Kuwaiti firm, Bloomberg reports. CEO Andrew Liveris said Dow would benefit from cheap access to raw materials and liquid assets received from... More »

Big Industries Joust Over Energy Prices

Companies strive to suit their own ends in tug-of-war over green policies

(Newser) - US industries are at each other’s throats over energy policy as each sector tries to protect its own interests. A prime example came last year, when Dow Chemical's push for tougher automobile fuel-economy standards—which would help keep a lid on Dow's oil expenditures—ran afoul of automakers, who... More »

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