Help

BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

International

BASF to cut costs after $720 million writedown linked to Nord Stream

October 13, 2022 Reprints

Germany-based chemicals group BASF SE is planning to reduce annual costs by €500 million ($485 million) up to 2024 in Europe, including job cuts, after it took a €740 million writedown linked to the Nord Stream 1 pipeline, U.S. News reported citing Reuters. The company said it would also look into restructuring its chemical sites further in the region over the longer term after being hit by skyrocketing energy prices.

1. Turkish airlines cancel flights to Iran and Iraq amid war concerns
2. Munich Re names new regional chiefs
3. Zurich Insurance to stop underwriting new oil and gas projects
4. Tycoon gets death sentence for multi-billion-dollar fraud
5. UAE flash floods likely to be manageable for insurers
6. Inflation drives 10% increase in sum insured for windstorms

Help

BASF to cut costs after $720 million writedown linked to Nord Stream

Readers Poll

Most Read in International

Sign up now for free access to this article and much more.

If you are already registered with Business Insurance, click here to Login

Please tell us a bit more about yourself in order to continue

About

Advertise

Reprints and Licensing

Resources