Dow Chemical’s profit plunges

BENGALURU Dow Chemical Company reported an 87.9% fall in quarterly profit, mainly due to a charge related to the settlement of a class action suit. The net income available to common shareholders fell to $169m in the first quarter ended-March 31, from $1.39bn a year earlier. Excluding items, net income rose nearly 2% to $993m. Net sales fell 13.5% to $10.70bn.