European polymer prices fell over the week to 13th September. There were reductions of 10 EUR per tonne reported in the prices of Polypropylene and PVC. In the UK, prices rose against some grades as the Pound lost value against the Euro.   Asian polymers also fell with reductions of between 10 and 20 USD […]

Scotland’s only oil refinery is to close by the summer of next year, with the loss of 400 jobs.   Petroineos said the closure of Grangemouth was due to it being unable to compete with sites in Asia, Africa and the Middle East.   The company said the decision would “safeguard fuel supply for Scotland” […]

Apple has been ordered to pay Ireland €13bn in unpaid taxes by Europe’s top court, putting an end to an eight-year row.   The European Commission accused Ireland of giving Apple illegal tax advantages in 2016, but Ireland has consistently argued against the need for the tax to be paid.   The Irish government said […]

Job growth in the US was weaker than expected last month, raising concern that the world’s largest economy is starting to stumble under the weight of higher interest rates.   Employers added 142,000 jobs in August, less than the roughly 160,000 analysts had forecast, the Labor Department said. It also said job gains in the […]

European polymer prices were unchanged over the week to 6th September. Prices in the UK were also static.   Asian polymers were mixed with an increase of 5 USD per tonne reported in the price of PVC. In China, the prices of LLDPE, PET and Polypropylene fell by between 5 and 25 USD per tonne. […]

Volvo has abandoned its target to produce only fully electric cars by 2030, saying it now expects to be selling some hybrid vehicles by that date.   The carmaker blamed changing market conditions for its decision to give up a target it had announced only three years ago.   It comes as the industry faces […]

Two sanctioned Russian oligarchs have become part-owners of the UK’s largest oil producer after it completed a deal to buy a German firm.   LetterOne, the investment company part-owned by oligarchs Mikhail Fridman and Petr Aven, now owns nearly 15% of Harbour Energy.   LetterOne itself is not sanctioned, and the two Russians have no […]

Shares in Nvidia have fallen despite the artificial intelligence (AI) chip giant comfortably beating expectations after more than doubling its sales.   Nvidia announced record revenues of $30bn over a three-month period.   The company has been one of the biggest beneficiaries of the AI boom, with its stock market value soaring to more than […]

European polymer prices rose over the week to 30th August with increases of between 10 and 20 EUR per tonne reported in the prices of LDPE, LLDPE, Polypropylene and ABS.  In the UK, prices fell across some grades as the Pound gained value against the Euro.   Asian polymers fell with reductions of 20 and […]

China’s Sinopec posted a 2.6% rise in net profit for the first half of the year as record oil and gas output compensated for falling domestic demand for refined fuel and petrochemicals.   China Petroleum & Chemical Corp., as Sinopec is officially known, reported a net income of 37.1 billion yuan ($5.21 billion) for January […]