Stories by Ludwig Burger - Canadian Cattlemen

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

Bayer takes major writedown, flags Roundup settlement bill

Company writes down agribusiness assets

By Patricia Weiss, Ludwig Burger, GFM Network News November 3, 2020

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 Patricia Weiss, Ludwig Burger, GFM Network News August 4, 2020

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

Markets, Reuters

BASF says dividends, asset values under review as pandemic bites

By Ludwig Burger, GFM Network News July 29, 2020

Frankfurt | Reuters – Germany’s BASF said on Wednesday its dividend policy and the value of assets on its balance sheet might be revised given uncertainty caused by the coronavirus crisis, particularly in North America and Europe. The policy of the world’s largest chemicals and plastics maker by sales to increase dividends each year and […] Read more

Crops, Reuters, Soybeans

Court blocks sales of dicamba in U.S.

Bayer says it's seeking new EPA registration for 2021

By Tom Polansek, Ludwig Burger, GFM Network News June 4, 2020

Updated — Reuters — A U.S. appeals court has blocked Bayer from selling an agricultural weed killer in the United States, the latest setback for a business already fighting an expensive legal battle over another product. A three-judge panel of the Ninth U.S. Circuit Court of Appeals ruled the U.S. Environmental Protection Agency (EPA) substantially […] Read more

Crops, Reuters

Bayer reporting progress in Roundup settlement talks

By Ludwig Burger, GFM Network News May 25, 2020

Frankfurt | Reuters — Bayer said on Monday it had made progress seeking a settlement over claims its glyphosate-based Roundup herbicide causes cancer, after Bloomberg reported the company reached a verbal agreement on about 50,000 to 85,000 cases. The drugs and pesticides group is keen to draw a line under the legal dispute, which it […] 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 Patricia Weiss, Ludwig Burger, GFM Network News February 26, 2020

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 Arno Schuetze, Ludwig Burger, Patricia Weiss January 31, 2020

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

K+S cuts output on weak potash demand

By Ludwig Burger September 23, 2019

Frankfurt | Reuters — German mineral miner K+S will cut production of potash fertilizers, dragging core earnings lower, as a halt imposed by China on potash imports dampens global markets. “In the current weak market environment, which is further intensified by the continuing Chinese import bans on the standard potassium chloride product, adjusting production is […] Read more

Elanco Animal Health CEO Jeff Simmons speaks during an interview at the New York Stock Exchange (NYSE) on Sept. 20, 2018. (Photo: Reuters/Brendan McDermid)

Livestock, Reuters

Elanco to become No. 2 in animal health with Bayer deal

By Ludwig Burger August 20, 2019

Reuters — Elanco Animal Health agreed to buy Bayer’s veterinary drugs unit on Tuesday in a cash and stock deal valued at US$7.6 billion (C$10 billion), creating the second largest maker of medicines for livestock and pets and expanding Elanco’s reach online. The deal is the latest in the fast-growing animal health market, which has […] Read more

Crops, Reuters

Bayer mediator dismisses report of Roundup settlement

By jonathan-stempel, Ludwig Burger August 10, 2019

New York/Frankfurt | Reuters — Bayer AG has not offered to pay billions of dollars to settle claims in the United States related to the Roundup herbicide, mediator Ken Feinberg said, dismissing a report to that effect which drove its shares as much as 11 per cent higher. “Bayer has not proposed paying $8 billion […] Read more

ICE weekly outlook: Canola rally keeps going

U.S. grains: Wheat, corn, soy futures up with global demand

U.S. livestock: CME lean hogs down on technical selling, export worries

GFM Network News

ICE weekly outlook: Canola rally keeps going

U.S. grains: Wheat, corn, soy futures up with global demand

U.S. livestock: CME lean hogs down on technical selling, export worries

Author Archives Ludwig Burger

Bayer takes major writedown, flags Roundup settlement bill

Bayer books second-quarter loss after settlement

BASF says dividends, asset values under review as pandemic bites

Court blocks sales of dicamba in U.S.

Bayer reporting progress in Roundup settlement talks

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

Bayer considers new tactic in Roundup settlement talks

K+S cuts output on weak potash demand

Elanco to become No. 2 in animal health with Bayer deal

Bayer mediator dismisses report of Roundup settlement

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