GFM Network News

More News →

Author Archives Patricia Weiss

Bayer’s cross symbol hangs in a terminal at Frankfurt International Airport. (Typhoonski/iStock Editorial/Getty Images)
Crops, Reuters

Bayer takes major writedown, flags Roundup settlement bill

Company writes down agribusiness assets

By , ,
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
(Bayer.com)
Crops, Reuters

Bayer books second-quarter loss after settlement

By , ,
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
(Dave Bedard photo)
Crops, Reuters

Bayer puts Roundup future claims settlement on hold

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

By , ,
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 The German company said that lawyers representing those preparing a class action had withdrawn a request for […] Read more
(Dave Bedard photo)
Crops, Reuters

Bayer reportedly near glyphosate settlement after lengthy talks

Proposed settlement said to include $2 billion for future cases

By , ,
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
Bayer CEO Werner Baumann speaks on May 25, 2018 during the company’s annual shareholders’ meeting in Bonn. (File photo: Reuters/Wolfgang Rattay)
Crops, Reuters

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

By , ,
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
(Bayer.com)
Corn, Crops, Markets, Reuters

Ag trade flows may change amid trade dispute, Bayer says

By ,
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
(Bayer.com)
Crops, Reuters

Bayer cuts Monsanto synergy target on divestments

By
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 July 23, 2021.

Sponsored By:
More Videos →

Daily Newsletter

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