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  • *Cuts 2016 EPS to 60- 80 cents from 90 cents- $1.20/ share. *Sees Q2 EPS 15- 25 cents vs estimate of 27 cents. Near term, cutting the dividend may be the best option, although Potash should weigh alternatives, such as selling stakes in other fertilizer companies, said Ryan Bushell, portfolio manager at Leon Frazer& Associates, which owns shares.

  • Potash prices have fallen sharply over the past year due to overcapacity, declining farm income and weak currencies in major consumers such as India and Brazil. The company cut its 2016 earnings forecast to 60 cents- 80 cents per share from 90 cents- $1.20 per share. The company's net earnings fell to $75 million, or 9 cents per share, in the three months ended March 31,...

  • April 28- Potash Corp of Saskatchewan, the world's biggest fertilizer company by capacity, reported a 79.7 percent fall in first-quarter profit, hurt by weak potash prices. The company's net earnings fell to $75 million, or 9 cents per share, in the three months ended March 31, from $370 million, or 44 cents per share, a year earlier. Revenue fell 27.4 percent to $1.21...

  • NEW YORK, April 27- Expectations for chemical company earnings have been boosted by a combination of lower crude oil costs during the commodity's slump along with strong demand for plastics that are used to make everything from shampoo bottles to grocery bags. Last week, LyondellBasell Industries beat consensus estimates, and estimates for Westlake...

  • TOKYO, April 20- Confidence among Japanese manufacturers rose in April but it is expected to worsen again in the coming three months, a Reuters poll found on Wednesday, reflecting concerns about the yen's rise and tepid overseas demand. In the poll of 510 big and mid-sized companies between April 1-15, exporters of cars and electronics complained about a rapid...

  • *Chinese chemical giant approached BG chairman in Dec. LONDON, April 19- Chemical giant ChemChina approached BG Group with a possible bid late last year, just as Royal Dutch Shell was preparing to close a $52 billion deal to buy the British energy company, seven banking and industry sources with knowledge of the matter said. Working with investment bank HSBC,...

  • MEXICO CITY, April 14- Mexican conglomerate Alfa on Thursday reported a first-quarter profit, bolstered by its auto parts subsidiary and improved margins for its petrochemical products, as well as consolidation of its telecoms company Axtel. Monterrey- based Alfa said it earned $142 million in the first quarter, compared to a net loss of $127 million in the...

  • TORONTO, April 14- Canada's main stock index fell slightly on Thursday as lower commodity prices weighed on energy and mining stocks, while financial sector stocks rose. Barrick Gold Corp fell 3.7 percent to C $19.81, while Goldcorp Inc was also down 3.7 percent at C $21.31. Fertilizer producers also dragged, including a 5.3 percent drop in Agrium Inc to C $107.02...

  • TORONTO, April 14- Canada's main stock index was flat in morning trade on Thursday as materials stocks weighed and Bombardier Inc jumped on speculation of a pending order for its aircraft. The most influential weights on the index included fertilizer producers Agrium Inc, which fell 4.5 percent to C $107.85, and Potash Corp, down 2.5 percent to C $20.85 after...

  • CHINESE INDUSTRIES INVOLVED INCLUDE TEXTILES, METALS, LIGHT INDUSTRY, SPECIALTY CHEMICALS, MEDICAL PRODUCTS, HARDWARE, AGRICULTURE- USTR.

  • KUWAIT, April 13- A Kuwaiti labor union leader said on Wednesday plans for a strike by thousands of workers at state-owned oil, gas and petrochemical companies starting next week were in place, denying reports that negotiations were under way. Sheik Talal al-Khaled al-Sabah, spokesman for Kuwait's oil sector, said the Ministry of Social Welfare had invited the...

  • BEIJING, April 13- Chinese chemical products maker Shanghai Jahwa United Co said on Wednesday its controlling shareholder is in talks to buy a stake in Mayborn Group, which controls baby product maker Tommee Tippee. In a statement to the Shanghai stock exchange, Jahwa denied that it was in talks to buy Tommee Tippee for close to 300 million pounds, which was...

  • KUWAIT, April 11- Thousands of workers at state-owned oil, gas and petrochemical companies in Kuwait will stage a strike from Sunday in protest at a government plan to cut some of their benefits and wages, the president of the oil and gas union said on Monday. "The union finds itself obliged to take the difficult decision to escalate with this announcement of a...

  • April 8- Vertellus Specialties Inc, a U.S. manufacturer of agricultural chemicals such as pyridine, is in talks to cut a deal with its lenders after missing a debt interest payment, according to people familiar with the matter. Weak agricultural markets, combined with overcapacity and increased competition from China, have hit the chemical company, owned by...

  • PARIS, April 8- France's health and safety agency is poised to ban weedkillers that combine chemicals glyphosate and tallowamine because of concerns over possible health risks, it said Friday. The agency had reviewed products combining glyphosate and tallowamine after conclusions published in November by the European Food Safety Agency suggested there...

  • PARIS, April 8- France's health and safety agency has decided to ban weedkillers that combine chemicals glyphosate and tallowamine because of uncertainty over possible health risks, it said on Friday. Glyphosate, a common ingredient in weedkillers such as Monsanto's Roundup, has been the subject of fierce debate in the past year since a World Health...

  • April 8- Fairfax India Holdings Corp, part of Canadian billionaire Prem Watsa's Fairfax Holdings, said it would invest $300 million in privately held Indian petrochemical company Sanmar Chemicals Group through a combination of equity and fixed-income securities. Last month, Fairfax agreed to buy a 33 percent equity interest in the Bangalore International...

  • April 8- Fairfax India Holdings Corp, part of Canadian billionaire Prem Watsa's Fairfax Holdings, said it would invest $300 million in privately held Indian petrochemical company Sanmar Chemicals Group through a combination of equity and fixed-income securities. Fairfax India will acquire a 30 percent equity ownership in Sanmar as a result of the...

  • BEIJING, April 8- Around 400 Chinese citizens have signed a letter to protest the purchase of Swiss-based seeds and pesticides company Syngenta by state-owned ChemChina, saying the deal would eventually lead to genetically modified crops being sown across swathes of the country. It also underscores fears among some of the public that the government is...

  • TOKYO, April 8- Japanese stocks fell on Friday morning after the U.S. dollar plunged below 108 yen for the first time in 1-1/ 2 years, putting exporters to the sword, while a profit warning from apparel giant Fast Retailing also weighed heavily on indexes. Finance Minister Taro Aso issued a fresh warning on Friday, saying that rapid currency moves were undesirable...