Reading Time: 2 minutes Frankfurt | Reuters — Three of Bayer’s largest German investors said the drugmaker’s embattled management needed to stay at the helm to avoid further upheaval, despite their unease over a share price slump in the wake of the US$63 billion Monsanto takeover. The backing for CEO Werner Baumann comes after an unprecedented rebuke at the […] Read more
Investors call for reprieve for Bayer bosses after AGM rebuke
Bayer shareholders vent ire over Monsanto-linked stock rout
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
U.S. criticizes Vietnam ban of glyphosate imports
Reading Time: 2 minutes Chicago/Hanoi | Reuters — U.S. Secretary of Agriculture Sonny Perdue on Thursday criticized Vietnam’s move to ban imports of glyphosate-based herbicides, saying the decision would have “devastating impacts on global agricultural production.” Vietnam’s government said in a statement that the toxic level of herbicides containing glyphosate had long been of concern, in the latest display […] Read more
French rapeseed farmers destroy 18,000 hectares over GMO risk
Reading Time: 2 minutes Paris | Reuters — French farmers destroyed a total of 18,000 hectares of rapeseed, more than double the area initially expected, following the discovery of a non-authorized genetically modified organism (GMO) in seeds, German group Bayer said on Friday. Bayer had announced in February that farmers in France and Germany were turning over thousands of […] Read more
BASF Ag Solutions to move Canadian head office west
Reading Time: 2 minutes The Canadian arm of BASF Agricultural Solutions plans to relocate its head office to Calgary from Mississauga effective Oct. 1. The crop protection arm of the German chemical company said Wednesday it wants to move the Canadian head office “closer to customers” after closing its deals last year to buy a “range of businesses and […] Read more
U.S. jury says Bayer must pay $80 million to man in Roundup cancer trial
Reading Time: 3 minutes San Francisco/New York | Reuters –– A U.S. jury on Wednesday awarded US$80 million to a man who claimed his use of Bayer’s glyphosate-based herbicide Roundup caused his cancer, in the latest legal setback for the company facing thousands of similar lawsuits. The jury in San Francisco federal court said the company was liable for […] Read more
Democratic contender Warren targets corporate agriculture
Reading Time: 2 minutes Washington | Reuters — Democratic presidential contender Elizabeth Warren took aim on Wednesday at agricultural conglomerates, promising her administration would break up big agribusiness mergers that she said have hurt family farmers. Warren, a U.S. senator from Massachusetts and a fierce Wall Street critic, released a broad plan that she said would make it easier […] Read more
Second U.S. jury finds Bayer’s Roundup caused cancer
Reading Time: 3 minutes Reuters — A U.S. jury on Tuesday found Bayer’s glyphosate-based Roundup herbicide caused cancer, a blow to the company eight months after another jury issued a US$289 million verdict over similar claims in a different case. Tuesday’s unanimous jury decision in San Francisco federal court, which came after five days of deliberation, was not a […] Read more
Bayer reaps profit lift from Monsanto
Reading Time: 2 minutes Leverkusen, Germany | Reuters –– Bayer’s US$63 billion purchase of seed and chemical firm Monsanto made its mark on the German company’s fourth quarter earnings on Wednesday, lifting profit and boding well for the peak season of its enlarged agriculture business. However, mounting litigation risks related to Monsanto still cast a pall over an adjusted […] Read more
Brazil health officials find glyphosate non-cancerous
Reading Time: 2 minutes Brasilia | Reuters — Analysts at Brazilian health agency Anvisa have determined that glyphosate herbicide does not cause cancer while recommending exposure limits as international pressure to reduce use of the chemical grows. Companies such as Bayer and its unit Monsanto, which produces glyphosate-based weedkillers, have faced legal challenges over allegations that glyphosate causes cancer. […] Read more
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