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Ineos talks of PetroChina deal for Grangemouth

The 'Falkirk Herald', based close to Ineos's Grangemouth facility in Scotland, is not normally the place that the blog would look for news of the potential sale of a major part of the world's 4th largest chemical company. However, that...

Published 18 Jun 2009 21:51 by Chemicals & The Economy

Filed under: Oil markets, Currencies, Financial Events, M & A, Leverage, Dow Chemical, Refining, Ineos, PetroChina, Grangemouth
V-shaped sellers meet L-shaped buyers

Picture: www.businessoffashion.com A senior figure in the investment community told the blog recently that companies' views on the outlook for the economy seemed to vary according to their own financial position, "the stronger the balance sheet...

Published 7 Jun 2009 15:48 by Chemicals & The Economy

Filed under: Economic growth, Currencies, Financial Events, M & A, Leverage, bankruptcy, M&A, private equity, Pilko
Russia's chemical production tumbles

Last week's global production numbers highlighted the startling collapse in output from Central & Eastern Europe. This was the worst regional performer in Q1, and the blog decided to investigate further. Russian output is key to the region's...

Published 31 May 2009 14:06 by Chemicals & The Economy

Filed under: rubber, Economic growth, Oil markets, Currencies, crude oil prices, Russia, polymers, fertilisers
Exporting is no fun anymore

Japan and Germany are the great exporting countries of the industrialised world. They didn't have the consumer booms seen in the USA and UK. Yet their economies are plunging, as export opportunities dry up. Yesterday , the Japanese finance minister...

Published 28 Apr 2009 22:06 by Chemicals & The Economy

Filed under: USA, UK, exports, Economic growth, Currencies, Japan, Financial Events, Germany
FT's Gillian Tett named 'Journalist of the Year'

The blog is delighted that the Financial Times' Gillian Tett has been named Journalist of the Year, in the annual UK awards. She was the first journalist to call attention to the dangers developing in financial markets, and has been an invaluable...

Published 6 Apr 2009 10:41 by Chemicals & The Economy

Filed under: Economic growth, Currencies, Financial Events, credit crunch, M & A, Leverage, recession, economic downturn
G-20 moves on regulation, ducks other key issues

The blog has been reading the G-20 communiqué, and various news reports, to understand whether the London summit answered the 5 key questions it raised in advance of the meeting. Reuters provides a good summary of the outcome in terms of 3 blog questions...

Published 5 Apr 2009 9:14 by Chemicals & The Economy

Filed under: London, Economic growth, Currencies, Financial Events, M & A, Leverage, recession, G-20
G-20 prepares for London meeting

Leaders of the G-20 represent 85% of the global economy, and 65% of world population. Set up by Finance Ministers after the Asian crisis in 1997/8, they first met at Heads of Government level in the USA last November . Sadly, although their communiqué...

Published 1 Apr 2009 13:55 by Chemicals & The Economy

Filed under: Economic growth, Oil markets, Currencies, Financial Events, Futures trading, Leverage, recession, World Bank, President Obama, G-20, OECD
Japan's exports fall record 49%, China builds inventory

Japan's auto exports tumbled 71% in February , and its US exports fell 58%, causing total exports to decline 49%. Imports also fell 43%. Exports to China, however, were 'only' down 40%. And other NEA exporters, more dependent on Chinese markets...

Published 25 Mar 2009 10:08 by Chemicals & The Economy

Filed under: China, Economic growth, Oil markets, Currencies, Japan, sea, S Korea, Taiwan, NEA
IMF says advanced economies to "contract sharply"

The IMF and World Bank continue to play leap-frog in reducing their global growth forecasts. In January , the IMF forecast growth would come to a "virtual standstill". Then, two weeks ago , the World Bank said the economy would "shrink"...

Published 20 Mar 2009 8:22 by Chemicals & The Economy

Filed under: Economic growth, Currencies, Financial Events, IMF, global downturn, World Bank
Moody's sees negative outlook for Asian petchems

Its not just the World Bank that is concerned about the outlook for East Asia. Today, Moody's (the ratings agency) says it has a negative outlook for the petrochemical sector over the next 12-18 months. It concludes: • "In response to weakening...

Published 17 Mar 2009 8:15 by Chemicals & The Economy

Filed under: Economic growth, Oil markets, Currencies, Moody's, Petrochemicals, Asia, polymers
Another US Treasury Secretary speaks out

James Baker was Treasury Secretary to President Reagan. When he says that the US is "repeating Japan's mistake by viewing our banking crisis as one of liquidity and not solvency", the blog listens. His prescription is stark: "we should...

Published 2 Mar 2009 23:08 by Chemicals & The Economy

Filed under: Economic growth, Currencies, Financial Events, Leverage, recession, US Treasury, deflation, Nicholas Brady, James A Baker III
The cycle of deflation

US fund managers Comstock Partners reported a 50+% gain on their flagship Capital Value Fund in 2008. The logic behind their out- performance is summarised in the chart, which depicts their belief that we are now in a global cycle of deflation. Their...

Published 28 Feb 2009 16:36 by Chemicals & The Economy

Filed under: Economic growth, Currencies, Financial Events, Leverage, deflation, devaluation, Comstock Partners
Lessons from Japan's 'lost decade'

In December , the blog noted that Japanese policymakers saw clear parallels between the mistakes they made during the 'lost decade' of the 1990's, and those being made today in the USA and other Western countries. The New York Times now has...

Published 15 Feb 2009 16:47 by Chemicals & The Economy

Filed under: Economic growth, Currencies, Japan, Financial Events, M & A, Leverage, Bank of Japan, Barack Obama, Tim Geithner
China allocates $58bn to stimulate petchem exports

China plans to increase petchem production as a way of stimulating its economy. According to the China Daily , the government intends to allocate 400bn yuan ($58bn) from its fiscal stimulus to accelerate the implementation of petchem expansion plans....

Published 13 Feb 2009 10:39 by Chemicals & The Economy

Filed under: China, Economic growth, Currencies, recession, Petrochemicals, polymers, subsidies
The man with a plan

Yet again, as in October, 'buy on the rumour, sell on the news' has been the financial markets' reaction to the latest efforts to solve the financial crisis. A 5% fall on Wall Street last night, in response to the Geithner plan, tells its...

Published 11 Feb 2009 6:55 by Chemicals & The Economy

Filed under: Economic growth, Currencies, Financial Events, housing, M & A, Leverage, Petrochemicals, polymers, US Treasury, Tim Geithner, Nicholas Brady

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