GFM Network News


Deere to lay off 163 U.S. workers as trade war dents demand

Chicago | Reuters — Deere and Co. on Tuesday announced indefinite layoffs for 163 U.S. manufacturing workers at plants in Illinois and Iowa that make agricultural, forestry and construction equipment, citing decreased customer demand. The layoffs come week after the company said it would reduce production by 20 per cent at its facilities in Illinois […] Read more

Cannabis firm Tilray sees growth slowing

Reuters — Pot producer Tilray Inc. reported a wider-than-expected quarterly loss on Tuesday, as it ramped up investments to boost production and warned of muted growth in the Canadian recreational marijuana market for the second half of the year. Shares of the Nanaimo, B.C.-based company fell eight per cent after hours. Canada in October became […] Read more





Weed leader Canopy Growth ousts co-CEO

Corrected, Aug. 27, 2019 — Reuters — Canopy Growth Corp. fired founder and co-CEO Bruce Linton, a surprise move that comes just a week after the Canadian cannabis producer’s largest shareholder expressed disappointment over its loss-making streak. The world’s largest pot company announced earlier in the day that Linton was stepping down, leaving Mark Zekulin […] Read more

Bunge moves from regional to global operating model

Chicago | Reuters — U.S. agricultural commodities trader Bunge on Wednesday overhauled its global operations and named a new chief financial officer in the latest shake-up for the 200-year-old company hard hit by a years-long grain market downturn. The moves come as Bunge reported a stronger-than-expected first-quarter profit due to higher soy crush margins in […] Read more


JBS predicts profits will be stronger this year

Sao Paulo | Reuters — JBS SA executives said Friday the Brazilian meat company will deliver higher earnings in 2019 on strong demand for beef in the U.S. and Australia as well as growing Chinese demand for various proteins. Still, first-quarter results will reflect lower cattle availability in the U.S. due to rains and a […] Read more

Bayer reaps profit lift from Monsanto

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



JBS beats estimates, refinances bank debt

Sao Paulo | Reuters — Brazil’s JBS SA, the world’s largest meatpacking company, beat analysts’ estimates for the first quarter and closed a deal to refinance the bulk of its bank debt on Monday. JBS’ net income for the first quarter, 506 million reais (C$179.45 million), was 48 per cent above analysts’ estimates, with higher […] Read more