Americas top stories: weekly summary

HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 9 August.

Canada labor tribunal rules on rail strike, orders 13-day cooling-off period
The Canada Industrial Relations Board (CIRB) on Friday ruled that no rail activities need to be maintained in case of a strike or lockout at rail carriers Canadian National (CN) and Canadian Pacific Kansas City (CPKC).

Celanese lifts force majeure on acetic acid, VAM in western Hemisphere
Celanese has lifted the force majeure it declared on acetic acid and vinyl acetate monomer (VAM) sold in the western Hemisphere, the US-based acetyls producer said on Thursday.

INSIGHT: So far, recession is unlikely despite market turmoil
Chemical companies are expecting a lacklustre second half of the year, but, so far, they will unlikely suffer through a recession, despite the spate of pessimistic economic data and the worst stock-market selloff in more than a year.

Avient hikes guidance after strong Q2, sees restocking in packaging and consumer
Avient has raised its 2024 guidance for adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) following stronger-than-expected Q2 results.

US chem shares plunge for third day amid fears of hard landing
Shares of US-listed chemical companies fell sharply for the third consecutive trading day on Monday amid growing concerns that the US economy could head towards a hard landing and enter a recession.

US recession fears fan slide in global stocks
US stocks were trading down around 3% mid-morning on Monday, with the major chemical companies posting double-digit falls on growing fears about a recession after the world’s largest economy reported weak economic data.