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Chemicals firm BASF urges EU to cut red tape as profit dips

BASF reported a drop in core profit, falling by 78 million euros to 1.5 billion euros, slightly ahead of analyst expectations from FactSet.
Markus Kamieth called for the EU to relax carbon trading rules due to industry challenges, stating it is 'very, very difficult in practice' for industry to manage carbon permits and taxes.
German Chancellor Friedrich Merz plans to delay EU taxes on carbon-intensive imports, emphasizing the need for deregulation.
High energy costs and competition from Asia have challenged German chemical companies, contributing to the industry crisis.

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Chemicals firm BASF urges EU to cut red tape as profit dips

The boss of German chemicals giant BASF on Wednesday called for the European Union to relax carbon trading rules, as the firm reported a drop in core profit with the industry in crisis.

17 hours ago

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