IHS Chemical Week


Chemical Industry Weekly News Round-Up, August 27

12:58 PM MDT | August 27, 2010 | By VINCENT VALK

This Week on CW:

BHP Billton's quest for PotashCorp continued this week. The Australian mining giant said it would exit from potash distribution network Canpotex, a move Agrium's CEO called "crazy." Meanwhile, Brazilian mining firm Vale has ruled out a bid for PotashCorp.

Sinopec reported a 75% rise in operating income, driven by Chinese economic growth. The company's chemicals segment saw income rise by 69%. Meanwhile, Nova swung to profit on improved business conditions and higher margins.

A U.K. study has shown that BPA affects testosterone levels in men.

LyondellBasell will stop doing business in Iran due to U.S. trade sanctions.

Around the Web:

The Wall Street Journal's Deal Journal has an interesting Q&A with an agribusiness investor on BHP-Billton and trends in agribusiness.

Some good economic news, for a change: U.S. jobless claims fell higher than the initial forecast, Business Week reports.

And some economic news that is sort of good, but maybe not so much: corporate profits are near their pre-recessionary peak, the New York Times' Economix blog reports. But companies still aren't hiring.

Experts think U.N. climate reports should be more frequent and more relevant, in Reuters.

Comic Relief:

Satirical newspaper The Onion has an "editorial" written by "the chairman of BP."

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