The Dow Chemical Company, which owns Union Carbide Corporation, on Tuesday said the Indian government had "fully released" UCC and its subsidiary in Bhopal from any civil liability for the 1984 gas tragedy.
Dow Chemical Company is once bitten, twice shy. Close on the heels of its US parent's move to deny liability for damages resulting from the Bhopal gas tragedy at a plant run by Union Carbide (a company it had bought), Dow India has called off a greenfield project to establish a research & development facility in Maharashtra.
Amnesty International has called on the Dow Chemical Company to appear before a Bhopal court this week to explain why its subsidiary Union Carbide Company repeatedly ignored summons in the 1984 gas leak case.
Survivors of the deadly 1984 Bhopal gas leak are holding a 'Special Olympics' with children suffering birth defects from the tragedy.
Dow Jones said shares representing approximately 60.3 per cent of the outstanding voting power of the company were cast on Thursday in favour of the merger. Announcing the approval, Dow Jones said the stockholders' vote satisfies the final condition for the completion of the deal. The two companies had signed an agreement and plan of merger on July 31. The merger became effective on Thursday.
Reuters reported that a spokesman for Dow's Union Carbide denied the report.
British Prime Minister David Cameron has defended Dow Chemical's sponsorship of the Olympic Games in the face of Indian anger over the company's link to a deadly gas leak in Bhopal in 1984.
Villagers and the people of the Varkari sect are on one side and state government and Dow Chemicals on the other. The bone of contention is the future of Dow Chemicals' $100-million R&D project, for which 100 acres of land was allotted in the village near the Sudha -- held sacred by the followers of a Bhakti cult called Varkaris.
The chairman and CEO of Dow Chemicals Andrew Liveris will not attend the Indo-US CEO Business Forum meeting scheduled to be held in Washington.
Reuters Group Plc, which runs one of the world's leading news agencies as well as other financial data businesses, today said it has received an unsolicited takeover offer, but did not identify the potential bidder.
A former Dow research scientist was convicted for stealing trade secrets.
Media Mogul Rupert Murdoch's News Corp is all set to purchase Dow Jones and Co., publishers of the Wall Street Journal, for $5 billion, ending the century-long ownership of the Bancroft family.
Terming court's decision to summon Dow Chemicals in the Bhopal gas tragedy case as an "important step", Amnesty International today demanded that the company must acknowledge its responsibility towards the survivors of the 1984 industrial disaster.
The Maharashtra government fears that the agitation against Dow Chemical's proposed Research and Development centre was orchestrated by its aggressive neighbour to influence Dow to take its $400-million project to that particular state.
India's largest software services exporter Tata Consultancy Services on Friday said it will expand its strategic business alliance with US-based Dow Chemicals that will create new jobs in Midland-Michigan.
Dow Chemicals' acquisition of the Indian born billionnaire Raaj L Gupta headed speciality chemical company Rom and Haas for over $18 billion, is likely to impact its proposed joint venture with Reliance Industries (RIL) and expansion plans in India worth over $100 million.
Chemicals giant Dow say they are fully committed to providing the decorative wrap for London's Olympic stadium despite continuing criticism of its involvement because of its link to the 1984 Bhopal gas disaster.
Dow Jones Indexes, a leading global index provider, has removed scandal-hit Satyam Computer from its 'Dow Jones India Titans 30 Index' and replaced it by Axis Bank.
A member of the body that oversees the sustainability of the London Olympics has resigned in protest at a sponsorship deal with Dow Chemical because of the American company's ties to the 1984 Bhopal gas disaster that killed thousands in Madhya Pradesh.
The government has asked its Olympic association to raise the issue of the London Olympic Games' sponsorship deal with Dow Chemical, the latest sign of pressure on organisers to reconsider involvement of a company linked to the Bhopal gas disaster.
Hundreds of Warkaris (devotees of Lord Vitthal) who had gathered outside the prison premises late last evening, chanted name of Vitthal in chorus as Karadkar declared the sects resolve to oppose the setting up of the Dow Chemicals unit near Shinde village in the district.
The two issues that remain are whether Dow inherited Union Carbide's liabilities and why the government never cleaned up Bhopal after settling with Carbide
Dow Chemical Co hoped an Olympic sponsorship would boost its global cache, but the company's link to a gas leak tragedy 28 years ago threatens to curb some of the benefits from the $100 million advertising deal.
Heads continued to roll in the News of the World phone hacking scandal as Rupert Murdoch's top executive and Dow Jones CEO Les Hinton became the latest high-profile personality to resign from his post. Hinton was the chief executive of Dow Jones, publisher of the Wall Street Journal. Rebekah Brooks, chief executive of the media group's UK newspaper arm News International had quit on Friday.
The joint venture speculation between Reliance Industries and Dow Chemicals for Dow's underperforming commodity businesses could cost Reliance anything between $15 billion and $21 billion for a 60 -100 per cent stake.
Gautam Adani-owned Adani Ports and Special Economic Zone (APSEZ) will replace IT major Wipro in the 30-share BSE Sensex from June 24, according to an official announcement on Friday. This marks the first inclusion of any Adani Group firm in Sensex. The group has 10 listed firms with a combined market valuation surpassing Rs 17 lakh crore.
An internal note obtained by activists from the Prime Minister's Office and dated February 2 this year says that the Ministry of Law believes that 'irrespective of the manner in which Union Carbide has merged or has been acquired by Dow, if there is any legal liability it would have to be borne by Dow Chemicals.' The note also puts a question mark on the prospects for future investments by US-based Dow in India.
About 1,000 alumni of the Indian Institutes of Technology (IITs) have sent a petition to the directors of the seven premier government-owned engineering institutes urging them to ban Dow Chemicals, which acquired the Union Carbide plant in 2001, from any partnership or role in the premier institutes of the country. This comes soon after the company was forced to cancel pre-placement talks, due in the last week of October, in IIT Madras and Bombay.
The Campaign estimates that 22,000 people are already dead and says yet Dow wants to deny all responsibility and wants the Indian government to pay millions of dollars for the clean of its mess in Bhopal.
Analysts said News Crop bid could result in similar offers from other media giants.
Last Friday's tumble on Wall Street, with the Dow Jones index falling nearly 400 points, is sure to have its repercussions on the already shaky Indian market. With both the benchmark indices, the Bombay Stock Exchange Sensex and the National Stock Exchange Nifty having lost 5 per cent apiece last week, investors are already skittish.
The reasons may not appear compelling, but an alliance with Dow Chemical could help RIL. Here are the reasons.
India's premier technical institute, IIT-Bombay's golden jubilee celebrations -- to be held in New York from July 18 to 20 this year -- have stirred a hornet's nest. The reason is that Dow Chemicals is one of the main sponsors.
Shooter Gagan Narang became the first Indian athlete to say Dow Chemical should be allowed to be a sponsor of the 2012 London Games even though the Indian Olympic Association wants the organisers to reconsider it.
Did the Indian government guarantee Dow Chemicals, the parent company of Union Carbide, that it will not be held liable for the Bhopal gas tragedy?
Dow Chemicals, the US-based petrochem giant, may announce its intent of floating a joint venture with Reliance Industries this week.
Reaffirming its stand, the International Olympic Committee Wednesday rejected calls from the Indian Government to drop Dow Chemicals as sponsor of the London Games because of its links to the 1984 Bhopal gas tragedy.
Rohm & Hass is a Philadelphia-based chemical giant and a Fortune 500 company. Gupta was the point person in the negotiations between his company and chemical conglomerate Dow Chemical for the sale of Rohm & Hass.
'There are ominous portents of an isolationist administration not only building a physical wall to the south to prevent unwanted immigrants from entering the land of milk and honey, but also trade walls not just against China, but all nations,' foresees Sreekant Sambrani.
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