GFM Network News

More News →

Author Archives

Crops, Reuters

Bayer takes major writedown, flags Roundup settlement bill

Company writes down agribusiness assets

By ,
Reading Time: 2 minutes Frankfurt | Reuters — Bayer is facing a double hit from a higher legal bill for claims relating to weedkiller Roundup as well as 9.25 billion euros (C$14.2 billion) in impairments on agriculture businesses, much of it related to its Monsanto deal. The company said the write-downs, driven by weaker demand from farmers due to […] Read more
Crops, Reuters

Bayer books second-quarter loss after settlement

By ,
Reading Time: < 1 minute Frankfurt | Reuters — German drugs and pesticides group Bayer reported a 9.5 billion-euro (C$14.86 billion) net loss for its second quarter, following a US$10.9 billion settlement of U.S. lawsuits claiming that its Roundup herbicide caused cancer. The charges stemmed mainly from agreements which attempted to wrap up legal disputes inherited with its US$63 billion […] Read more
Crops, Reuters

Bayer puts Roundup future claims settlement on hold

Judge questions proposal for third-party scientists to rule on chemical's carcinogenicity

By ,
Reading Time: 2 minutes Frankfurt | Reuters — Bayer was forced on Wednesday to delay part of a proposed settlement of allegations that its widely used herbicide Roundup caused cancer after a U.S. judge questioned its plan to deal with future claims. The German company said that lawyers representing those preparing a class action had withdrawn a request for […] Read more
Crops, Reuters

Bayer reportedly near glyphosate settlement after lengthy talks

Proposed settlement said to include $2 billion for future cases

By ,
Reading Time: 2 minutes Reuters — Germany’s Bayer is set to reach a settlement this week with U.S. plaintiffs that claim its glyphosate-based herbicides cause cancer, two people familiar with the matter told Reuters. After more than a year of talks, however, some details and the overall amount of the settlement have yet to be finalised, one of the […] Read more
Crops, Reuters

Pressure on for Bayer CEO to fix legal problems as chairman quits

By ,
Reading Time: 2 minutes Frankfurt | Reuters — The departure of Bayer chairman Werner Wenning will turn up the heat on CEO Werner Baumann to resolve the healthcare to agriculture group’s legal problems, two of the firm’s biggest German shareholders said on Wednesday. Bayer’s shares have plunged about a quarter in value since August 2018, when the company lost […] Read more
Crops, Reuters

Bayer considers new tactic in Roundup settlement talks

By , ,
Reading Time: 5 minutes Reuters — As Bayer tries to settle U.S. lawsuits claiming that its Roundup herbicide causes cancer, the company is considering a proposal that would bar plaintiffs’ lawyers involved in the litigation from advertising for new clients, according to a person familiar with the matter. Bayer has said it is engaged in mediation to resolve the […] Read more
Crops, Reuters

Bayer shareholders vent ire over Monsanto-linked stock rout

By ,
Reading Time: 2 minutes Bonn | Reuters — Bayer shareholders vented their anger over its stock price slump on Friday as litigation risks mount from the German drugmaker’s US$63 billion takeover of seed and chemical firm Monsanto. Several large investors said they will not support aspirin invesotr Bayer’s management in a key vote scheduled for the end of its […] Read more
Corn, Crops, Markets, Reuters

Ag trade flows may change amid trade dispute, Bayer says

By ,
Reading Time: 2 minutes Monheim | Reuters — Bayer said on Tuesday it would be difficult to predict 2019 earnings at its agriculture business, which now includes Monsanto, because a U.S.-Chinese trade dispute could reroute global trade flows in farming commodities. The head of Bayer’s crop science division told Reuters his company could even benefit if U.S. farmers switched […] Read more
Crops, Reuters

With drugs pipeline in focus, Bayer seen considering cuts

By ,
Reading Time: 3 minutes Frankfurt | Reuters — Bayer is considering job cuts and outsourcing as part of a wide-ranging review of drug research and development that will last until at least November, a person familiar with the company told Reuters. The prospect of “very tangible changes” contributed to a decision by key board members to extend the contract […] Read more
Crops, Reuters

Bayer cuts Monsanto synergy target on divestments

By
Reading Time: < 1 minute Bonn | Reuters — Bayer said positive synergy effects from the planned takeover of U.S. seeds and chemical firm Monsanto would be about US$300 million below its previous target because it will sell more businesses than initially expected to get antitrust approval. Bayer CEO Werner Baumann again threw his weight behind the deal, despite higher […] Read more

Special Podcast

AgCanadaTV

AGCanadaTV: In Case You Missed It – Your National Ag News Recap for the week ending February 26, 2021.

Sponsored By:
More Videos →

Daily Newsletter

You'll receive current daily news every morning free, as well as market updates and special features.