GFM Network News


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

K+S expects earnings gain from Saskatchewan mine

Frankfurt | Reuters — German potash miner K+S vowed to increase earnings significantly this year, as it ramps up production at its new Bethune, Sask. mine and after temporary restrictions on waste water at its main domestic mine were lifted. Revenues would be tangibly higher and earnings before interest, taxes, depreciation and amortization (EBITDA) would […] Read more