Business

Business news

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DAVID GREENE, HOST:

NPR's business news starts with a new, multibillion-dollar chemical plant.

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GREENE: Exxon Mobil plans to build a huge chemical facility in Baytown, Texas. It reverses a company statement last year that said it has no plans for new chemical factories in the United States. According to Reuters, decades-low natural gas prices made the move too enticing to pass over. Natural gas is a key fuel in chemical production. By using its own natural gas, Exxon Mobil can run a chemical plant relatively cheaply.

The Last Word In Business

Jun 1, 2012

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DAVID GREENE, HOST:

OK, let's turn now to personal wealth. Today's last word in business is disappearing millions.

The number of millionaire households in this country declined in 2011. That's according to this year's Global Wealth Study from the Boston Consulting Group. It found the number of American households with a million dollars of investable assets shrunk by 2.5 percent.

The U.S. still leads the world in millionaires, but developing countries are gaining ground. Other countries added nearly 200,000 millionaire households in 2011.

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DAVID GREENE, HOST:

And now to an even bigger battle that's been playing in the world of video games.

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DAVID GREENE, HOST:

Let's spend some time talking about the big money world of video games. In a moment, what may have been the biggest legal battle ever in the game industry. But first to former Boston Red Sox pitcher Curt Shilling. He is blaming the governor of Rhode Island for the meltdown of his video game company, 38 Studios. The company's failures have seen almost 400 workers lose their jobs and has Rhode Island taxpayers on the hook for close to $100 million. Ian Donnis of Rhode Island Public Radio has the story.

In Texas recently there was a grand opening for what is now the largest refinery in the U.S. Shell and Saudi Arabia's national oil company, Saudi Aramco, have more than doubled the capacity of their Port Arthur refinery.

The refinery business has been going through a tough period in recent years. Americans are buying less gasoline and other petroleum products — about 10 percent less than in 2005, according to the U.S. Energy Information Administration.

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