Year: 2020

(Bloomberg) — Bayer AG acknowledged for the first time that lawsuits related to the controversial weed killer Roundup may force it to sell assets, issue new equity or borrow money at unfavorable terms.“We may incur considerable financial disadvantages from the pending lawsuits or potential future cases if, for example, we are ordered to pay compensatory and possibly punitive damages,” Bayer said in its annual report, “or if we assume payment obligations under out-of-court settlements.”It’s unlikely that Bayer will have to raise a large amount of money to handle a possible resolution, Chief Financial Officer Wolfgang Nickl said in an interview …read more […]

“If exploring strategic options, only viable ones are a sale to an unrelated Tech company or asset sales,” JPMorgan analysts’ said in a research note. Shares in Nokia were 0.4% lower while European technology shares index was 2.3% lower. Nokia competes with Huawei and Ericsson for orders for new 5G networks which are at the center of a brewing technology war between United States and China, as they are expected to host critical functions from driverless vehicles to military communications. …read more […]

(Bloomberg) — Anheuser-Busch InBev NV, the world’s largest brewer, forecast the steepest decline in quarterly profit in at least a decade due to the coronavirus.First-quarter earnings will drop about 10% after profit growth in 2019 that AB InBev called disappointing. The brewer blamed the biggest jump in raw material costs in a decade for last year’s performance. The stock fell as much as 6.1%.For a company that says its main product brings people together, the coronavirus presents a particular problem as consumers in China avoid going out in public. Shipments had already started to slow in that market at the …read more […]

(Bloomberg) — The worldwide stock sell-off extended on Thursday, sending a global benchmark heading for its lowest close since October, while government bond yields sank to record levels.The MSCI All-Country World Index fell for a sixth straight day, with Japan leading losses at over 2% down. Futures on the S&P 500 tumbled as much as 1.6%, after declines in the index had eased some on Wednesday, and European contracts slumped. The yen rose, and 10-year U.S. and Australian yields hit fresh record lows. With the number of coronavirus cases mounting outside China, investors have yet to see the signs of …read more […]