Dow profit beats on Asia demand and cost cuts, sees recovery in 2020

Dow profit beats on Asia demand and cost cuts, sees recovery in 2020
(Reuters) – Chemicals maker Dow Inc (DOW.N) reported better-than-expected quarterly profit and revenue on Wednesday, helped by higher volumes in Asia as well as cost cuts, and pointed to a recovery in demand this year on the back of easing trade tensions. FILE PHOTO: The Dow logo is seen on a building in downtown Midland, Michigan, in this May 14,... Read More

Dow operating profit drops on lower prices, sees recovery in 2020

Dow operating profit drops on lower prices, sees recovery in 2020
(Reuters) – Dow Inc (DOW.N) reported a 27% fall in fourth-quarter operating profit on Wednesday as lower prices squeezed margins, but the chemicals maker pointed to a recovery in demand this year on the back of easing trade tensions. FILE PHOTO: The Dow logo is seen on a building in downtown Midland, Michigan, in this May 14, 2015 file photograph.... Read More

World may have hit peak car output, says auto-parts supplier Bosch

World may have hit peak car output, says auto-parts supplier Bosch
STUTTGART, Germany (Reuters) – Global automotive production may have peaked, auto supplier Robert Bosch said on Wednesday, announcing job cuts and a review of its business to cope with a 44% drop in full-year operating profit and a downturn in demand for cars. FILE PHOTO: Flags with the Bosch logo are seen near the company’s research and advance development centre... Read More

China flexes oil refining muscle, upping pain for Asian rivals

China flexes oil refining muscle, upping pain for Asian rivals
SINGAPORE/BEIJING (Reuters) – China is set to further expand its massive oil refining capacity this year, offering support to global oil prices, and U.S. producers in particular, but its plans spell more gloom for Asia’s hard-hit refining industry. FILE PHOTO: China National Petroleum Corporation (CNPC)’s Dalian Petrochemical Corp refinery is seen in Dalian, Liaoning province, China January 22, 2019. REUTERS/Stringer... Read More

Oil gains amid assessment of China virus impact, possible OPEC supply cuts

Oil gains amid assessment of China virus impact, possible OPEC supply cuts
TOKYO (Reuters) – Oil prices rose for a second day on Wednesday, standing on firmer ground after a five-day rout on talk that OPEC could extend oil cuts if a new coronavirus hurts demand, while data showing a decline in U.S. stockpiles also helped steady prices. FILE PHOTO: An oil pump is seen just after sunset outside Saint-Fiacre, near Paris,... Read More

Oil rises as investors take stock of economic hit from virus

Oil rises as investors take stock of economic hit from virus
FILE PHOTO: An oil pump is seen just after sunset outside Saint-Fiacre, near Paris, France September 17, 2019. REUTERS/Christian Hartmann TOKYO (Reuters) – Oil prices rose for a second day on Wednesday, standing on firmer ground after a five-day fall on talk OPEC could extend oil cuts if a new coronavirus hurts demand, while data showing a decline in U.S.... Read More