GE shares fall on Madoff whistleblower calling its finances a fraud

GE shares fall on Madoff whistleblower calling its finances a fraud
(Reuters) – General Electric Co (GE.N) shares fell as much as 15% on Thursday after fraud investigator Harry Markopolos, who blew the whistle on Bernard Madoff’s Ponzi scheme, said GE was concealing deep financial problems, prompting a sharp rebuke from GE’s new CEO. GE Chief Executive Officer Larry Culp said Markopolos’ 175-page report contained factual errors and constituted “market manipulation... Read More

Canopy Growth needs another 3-5 years to turn profit

Canopy Growth needs another 3-5 years to turn profit
FILE PHOTO: A sign featuring Canopy Growth Corporation’s logo is pictured at their facility in Smiths Falls, Ontario, Canada, January 4, 2018. REUTERS/Chris Wattie (Reuters) – Canopy Growth Corp (WEED.TO) said on Thursday it expects another three to five years to turn in a profit as Canada’s largest cannabis company invests heavily to diversify and expand. U.S.-listed shares of Canopy... Read More

GE shares fall on report alleging its finances are worse than disclosed

GE shares fall on report alleging its finances are worse than disclosed
(Reuters) – General Electric (GE.N) shares fell as much as 15% on Thursday after fraud investigator Harry Markopolos, who blew the whistle on Bernard Madoff’s Ponzi scheme, said GE was concealing deep financial problems. In a 175-page report, Markopolos accused GE of hiding $38 billion in potential losses and asserted that the company’s cash and debt positions were far worse... Read More

Lanxess, Bayer sell chemical park operator to Macquarie for $3.9 billion

Lanxess, Bayer sell chemical park operator to Macquarie for $3.9 billion
FRANKFURT (Reuters) – German chemical groups Bayer (BAYGn.DE) and Lanxess (LXSG.DE) have agreed to sell integrated chemical site operator Currenta to Macquarie Infrastructure and Real Assets (MIRA) (MQG.AX) for an enterprise value of 3.5 billion euros ($3.9 billion). FILE PHOTO: The headquarters of chemicals maker Lanxess are seen in Cologne, Germany November 15, 2018. REUTERS/Wolfgang Rattay/File Photo That includes net... Read More

Bayer sees potential future business in plant-based meat market

Bayer sees potential future business in plant-based meat market
(Reuters) – A Bayer executive on Thursday said the company was closely watching the plant-based meat market which has seen booming demand in recent years, adding that Bayer could potentially enter the market as an alternative protein source provider. FILE PHOTO: The so-called ‘Chempark’, the main plant and headquarters of German pharmaceutical and chemical maker Bayer AG is pictured along... Read More

Bayer says 2019 profit goal becoming a stretch

Bayer says 2019 profit goal becoming a stretch
The so-called ‘Chempark’, the main plant and headquarters of German pharmaceutical and chemical maker Bayer AG is pictured along the river Rhine in Leverkusen, Germany, July 3, 2019. REUTERS/Thilo Schmuelgen FRANKFURT (Reuters) – Germany’s Bayer became the latest agricultural supplies company to be affected by flooded farms in the United States and by trade disputes, saying its full-year earnings target... Read More

Germany’s Bayer dealt new legal blow as more Brazil farmers challenge soy patent

Germany’s Bayer dealt new legal blow as more Brazil farmers challenge soy patent
SAO PAULO (Reuters) – Germany’s Bayer AG (BAYGn.DE), which completed the takeover of U.S.-based Monsanto last year, has been dealt a legal blow in Brazil as more farmers joined a lawsuit challenging the protection of a key soy seed patent. FILE PHOTO: A logo of Bayer AG is pictured at the so called ‘Chempark’, the main plant and headquarters of... Read More

Canada’s new cannabis licensing favors richer companies, experts say

Canada’s new cannabis licensing favors richer companies, experts say
TORONTO (Reuters) – A new licensing process for legal cannabis producers in Canada limits the ability of smaller companies to attract investment, which could leave the fledgling industry dominated by companies with deep pockets or those who got a foot in the door prior to regulation changes in May, industry executives said. FILE PHOTO: Cannabis products on display at the... Read More