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Dow Chemical says it will appeal $1.2 billion order after price-fixing verdict

The Canadian PressMay 16, 2013 16:47
KANSAS CITY, Kan. - A federal judge has ordered Dow Chemical Co. to pay $1.21 billion in damages after it lost a class-action lawsuit that accused it of conspiring to fix prices. Dow says it will appeal. The Feb. 20 jury verdict in federal court in Kansas City, Kan., was for Dow to pay $400 million in damages. The jury decided that Dow had participated in a price-fixing conspiracy for the chemical urethane, which is used in a wide variety of products.

Kuwait suspends executives over Dow Chemical payment

Agence France-PresseMay 16, 2013 14:16
Kuwait's cabinet suspended on Thursday several senior oil executives over a $2.2 billion penalty paid to Dow Chemical for scrapping a joint venture and ordered a judicial investigation into the matter, an official statement said. The decision was taken at an extraordinary meeting, which also decided to appoint a new chief executive officer for national oil conglomerate Kuwait Petroleum Corp (KPC), the statement said.

Dow Chemical receives $2.2 billion as damages from Kuwait co

May 7, 2013 13:41
(Reuters) - Dow Chemical Co <DOW.N> said it has received $2.2 billion as damages from Kuwait's state-run chemicals company, a year after an arbitrator told Petrochemical Industries Co to pay up for cancelling a planned plastics joint venture in 2008. The International Chamber of Commerce's International Court ruled against Petrochemical Industries for pulling out of the $17.4 billion "K-Dow" petrochemical joint venture as the global economy sunk into a recession. <ID: nL1E8GO345>

Stocks move higher on improved jobless claims

Agence France-PresseApril 25, 2013 10:46
US stocks moved higher in early trade Thursday helped by an improvement in jobless claims numbers, while corporate earnings reports from several major industrial companies were uneven. About 40 minutes into trade, the Dow Jones Industrial Average rose 40.45 (0.28 percent) to 14,716.75. The broad-based S&P 500 added 7.21 (0.46 percent) to 1,586.00, while the tech-rich Nasdaq Composite Index increased 20.51 (0.63 percent) to 3,290.16.

Argentina's YPF cuts shale gas deal with Dow

March 27, 2013 11:01
Buenos Aires, Mar 27 (EFE).- Argentina's YPF, under government control since a 51 percent stake in the energy company was seized last year from Spain's Repsol, has signed a memorandum of understanding with the local unit of U.S. based Dow Chemical Company for the development of shale gas reserves in the Vaca Muerta region. The MOU was signed Tuesday in Buenos Aires during a meeting between YPF CEO Miguel Galuccio and Dow's southern South American regional director, Jorge La Roza.

Kuwait's Equate posts 3.8 % rise in 2012 profit

February 7, 2013 09:16
Kuwait's Equate Petrochemicals Co said on Thursday its 2012 net profit rose by 3.8 percent to $1.09 billion compared to $1.05 billion the previous year. The company, a joint venture between state-owned Petrochemical Industries and US major Dow Chemicals, said the rise in profit reflected a strong global demand for petrochemicals that pushed 2012 the company's sales to a record $2.6 billion.

Dow Chemical, Research in Motion lead US stocks lower

January 31, 2013 18:15
US stocks finished lower Thursday, with BlackBerry maker Research in Motion losing 5.8 percent after launching a new operating system and Dow Chemical sagging nearly 7 percent on a quarterly loss. The Dow Jones Industrial Average finished down 49.84 points (0.36 percent) to 13,860.58. The broad-based S&P 500 dropped 3.85 points (0.26 percent) to 1,498.11. The tech-heavy Nasdaq Composite slipped 0.18 (0.01 percent) to 3,142.13.

US stocks open mixed on middling earnings

January 31, 2013 12:30
US stocks opened mixed Thursday as the market sought direction from earnings reports. Facebook fell nearly more than three percent after its disappointing earnings, while Reseach in Motion, the Blackberry maker, lost 7.9 percent after introducing its new operating system and handsets. About an hour into trade, the Dow Jones Industrial Average was up 11.80 (0.08 percent) to 13,922.22. The broad-based S&P 500 dropped 0.38 points (0.03 percent) to 1,501.58. The tech-heavy Nasdaq Composite rose 8.52 (0.27 percent) to 3,150.83.
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