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America's two biggest independent seed sellers, Beck's Hybrids and Stine Seed, told Reuters they are pushing U.S. environmental regulators to bar farmers from spraying dicamba weed killer during upcoming summers in a potential blow to Bayer AG's Monsanto Co. Limiting spraying of the chemical to the spring season, before crops are planted, would prevent farmers from using the herbicide on dicamba-resistant soybeans that Monsanto engineered. The seeds are sold by companies including Beck's and Stine.
Bayer can begin folding Monsanto into its organisation as the antitrust-related sale of assets has been completed, fulfilling final requirements by the U.S. Department of Justice, the German drugmaker said on Thursday. "The integration of Monsanto into the Bayer Group can begin following the completion on Thursday of the divestment by Bayer to BASF of certain Crop Science businesses with a total sales volume of around 2.2 billion euros," it said in a statement. Bayer already closed the deal, becoming the sole owner of Monsanto, on June 7 but had to hold off on the integration.
Bayer AG unit Monsanto faces long odds on an appeal blaming an "inflamed" jury and "junk science" for a verdict of $289 million in damages to a man who said the company's Roundup weed killer caused his cancer, according to some legal experts. Last week's verdict ended the first trial over whether glyphosate, the main ingredient in Roundup, causes cancer. Monsanto, which says decades of scientific studies have shown Roundup and glyphosate are safe, is facing about 5,000 similar lawsuits nationwide.
Bayer (BAYGn.DE) shares plunged as much as 14 percent on Monday, losing about $14 billion (£10.95 billion) in value, after newly acquired Monsanto was ordered to pay $289 million in damages in the first of possibly thousands of U.S. lawsuits over alleged links between a weedkiller and cancer. After the verdict in favour of a California school groundskeeper with terminal cancer, Monsanto faces more than 5,000 similar lawsuits across the United States over claims it did not warn of the cancer risks of glyphosate-based weedkillers, including its Roundup brand. Monsanto, bought by Bayer this year for $63 billion, said that it would appeal against the jury's verdict in California, which is the latest episode in a long-running debate over claims that exposure to Roundup can cause cancer.
SAN FRANCISCO (AP) — A San Francisco jury on Friday ordered agribusiness giant Monsanto to pay $289 million to a former school groundskeeper dying of cancer, saying the company's popular Roundup weed killer contributed to his disease.
The case of school groundskeeper Dewayne Johnson was the first lawsuit to go to trial alleging glyphosate causes cancer. Monsanto, a unit of Bayer AG (BAYGn.DE) following a $62.5 billion acquisition by the German conglomerate, faces more than 5,000 similar lawsuits across the United States. The jury at San Francisco's Superior Court of California deliberated for three days before finding that Monsanto had failed to warn Johnson and other consumers of the cancer risks posed by its weed killers.
Martin Tripp, a former employee of Tesla Inc (NASDAQ:TSLA), is not backing down. The allegations include misleading statements from Tesla Inc about production levels of the Model 3 (by as much as 44%), damaged batteries (that included punctures) and the reuse of old parts. Well, Tesla Inc believes that Tripp hacked confidential information and provided it to third parties.
As the trade war between the world's two largest economies nears the end of its first week, its most unsettling fact may be this: No one seems to foresee any clear path to peace. The United States insists that China abandon the brass-knuckles tactics it's used to try to supplant America's technological dominance. WASHINGTON (AP) -- Business groups and labor unions have lined up on opposing sides of the pitched battle shaping up over President Donald Trump's Supreme Court nominee, Brett Kavanaugh, whose approach to the law is widely seen as business-friendly.
SAN FRANCISCO (AP) — Hundreds of lawsuits alleging Roundup weed killer caused cancer cleared a big hurdle Tuesday when a U.S. judge ruled that cancer victims and their families could present expert testimony linking the herbicide to non-Hodgkin's lymphoma.
The decision by U.S. District Judge Vince Chhabria in San Francisco, California, followed years of litigation and weeks of hearings about the controversial science surrounding the safety of the chemical glyphosate, the key ingredient in Monsanto's top-selling weed-killer. Monsanto is a unit of Bayer AG (BAYGn.DE), following the $62.5 billion takeover of the U.S. seed major which wrapped up in June.
Monsanto Co is considering appealing a Brazilian court ruling obliging it to deposit in an escrow account the royalties related to its Intacta RR2 Pro soy seed biotechnology, the company said in a statement on Tuesday. "Monsanto is weighing options for appealing (the ruling) and will take all measures to protect its legal rights," the statement said. Last week, a Brazilian judge ordered units of Monsanto Co to deposit the royalties related to that genetically modified seed in an escrow account pending the outcome of litigation over a patent dispute between Brazilian soy growers and the U.S. seeds company, now a unit of Bayer AG.
SAN FRANCISCO (AP) — Lawyers for a school groundskeeper dying of cancer asked a San Francisco jury on Monday to find that agribusiness giant Monsanto's widely used weed killer Roundup likely caused his disease.
A Brazilian judge has ordered local units of Monsanto Co to put royalties related to a GMO soy seed technology in an escrow account, in a decision likely to hinder the U.S. seed company's ability to collect royalties from the business. The July 3 ruling relates to a patent dispute between Brazilian soy growers in the state of Mato Grosso and Monsanto, which was recently acquired by Germany's Bayer AG in a 63 billion-euro deal. The judge ordered local units of Monsanto to deposit in an escrow account royalties related to the Intacta RR2 Pro genetically modified soy seed technology pending the end of the patent litigation, according to the decision seen by Reuters.
Moody's Investors Service, ("Moody's") downgraded Monsanto Company's (Monsanto's) and Monsanto Finance Canada Co.'s long-term debt ratings to Baa1 from A3 due to its acquisition by Bayer AG (Baa1 negative) on June 7, 2018. Moody's also withdrew Monsanto's Prime-2 commercial paper rating.
Bayer has closed its $62.5 billion acquisition of Creve Coeur-based Monsanto Co. Monsanto shares (NYSE: MON) closed at $127.95 each Wednesday, they're last day of trading. The deal was first announced in September 2016 and Germany-based Bayer last week won U.S. approval for the Monsanto takeover after months of delays. There will be no branding changes to the company until Bayer completes several divestitures to BASF, according to a release.
Large-cap ETF investors may soon see some big tech names in their portfolios as Twitter (TWTR) will join the S&P 500 before trading Thursday while Netflix (NFLX) will replace Monsanto (MON) in the S&P 100. Monsanto, the agricultural company, is being acquired by German pharmaceutical and chemical conglomerate Bayer AG in a deal expected to be finished soon.
U.S. agribusinesses are facing lingering inventory snafus and economic pain over farm chemicals and fertilizer, as a cold, wet spring that slowed crop plantings continues to cause ripple effects across the agricultural sector. Farmers fell behind on planting corn in April due to the unfavorable weather, shortening the window for applications of products such as fertilizer and herbicides.
The metaphor should be lost on no one: it's the first generational change to the S&P 500 and it must be hailed as the beginning of the end of the old-school companies and a new chapter for the new school of businesses and their ethos. When Bayer AG announced the acquisition of Monsanto two years ago, Monsanto was already viewed with skepticism as a company because of its creation of Agent Orange, the American scourge during the Vietnam War, and the pioneering work toward genetically modified seeds, the GMOs that so many millennials despise. How controversial, how reviled is Monsanto?
Jim Cramer muses on what Twitter's entry into the S&P 500 index means for the future of the stock market.
German pharmaceutical giant Bayer will officially buy US agriculture giant Monsanto on Thursday (June 7) for $63 billion, after securing approval for the deal from US and European regulators. Bayer announced they will immediately retire the 117-year-old Monsanto name. Monsanto is the world’s biggest supplier of genetically modified seeds, and the name “Monsanto” has become…
Shares of Twitter Inc (NYSE:TWTR) are enjoying a nice boost Tuesday, up more than 5%. The move comes on news that TWTR stock will replace Monsanto Company (NYSE:MON) in the S&P 500. Twitter’s move into the S&P 500 is extending the 52-week highs that TWTR stock set on Monday.
Twitter, Inc. ( TWTR) shares rose nearly 5% in early trading on Tuesday morning after it emerged that the company would replace Monsanto Company ( MON) in the S&P 500 Index after Monsanto's transaction with Bayer AG ( BAYRY) is completed on June 7. At the same time, Variety reported that Twitter broke up its live video business and consolidated those responsibilities to its content partnerships team in a reorganization that could streamline its operations. Cascend Securities raised its price target on Twitter from $40 to $45 per share following the news, which represents a nearly 20% premium to Monday's close.
Following a tense G7, President Trump struggles to find support for his trade policies at home. Yahoo Finance's Seana Smith, Andy Serwer and Julia La Roche discuss.