Last updateThu, 06 May 2021 8pm

Kuwait Kills $17.4 billion K-Dow Deal

Kuwait's government decided on December 28 to cancel a $17.4 billion joint venture with U.S. petrochemical giant Dow Chemical. The venture, known as K-Dow, was announced with great fanfare in July as the crown jewel of economic development initiatives in Michigan.

Source: Business Facilities

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Utilities Ready Programs for Stimulus Package

A new year and new president could bring new money to the nation in the form of a $800 billion-plus stimulus package that includes a hefty $350 billion earmarked for infrastructure improvements.

Though the stimulus plan is not yet formulated, one thing is clear: When it comes to the infrastructure piece, projects must be "shovel ready," one water company executive noted.

Source: Journal Register News Service (PA)

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BP Gets Texas City Refinery Up to Speed

BP’s Texas City refinery regained its ability to operate at full tilt this week, wrapping up more than three years of post-Hurricane Rita maintenance and upgrades.

“We’ve completed our previously stated objective of restoring the refinery to its full economic capability by the end of 2008,” BP spokesman Scott Dean said Friday.

Source: Houston Chronicle

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Damage Control for Big Pharma

Stricter regulation, a dearth of new blockbuster drugs, increased pressure to lower prices and more intense generic competition hammered the pharmaceutical industry in 2008, but its stocks still weathered the market collapse better than many other sectors.

The industry's ills predate the financial crisis but are being exacerbated as the recession pushes poor patients to delay refills, trade down to generics and split pills.

Source: Associated Press

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