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The Bayer AG logo at the headquarters in France.  Photo: Reuters/Benoit Tessier/File

Bayer slashes outlook as glyphosate demand weakens further

Analysts say dry weather conditions hurt farmers' demand for seeds and pesticides

Reuters – Further deterioration in demand for glyphosate-based weed killers led Bayer BAYGn.DE to cut its full-year earnings outlook and announce a 2.5 billion euro ($2.8 billion USD) write-down on glyphosate-related assets. In an unscheduled statement late on Monday, the German drugs and pesticides maker said it was projecting 2023 earnings before interest, taxes, depreciation

 Photo: Altayb/istock/getty images

EU seeks revised GMO rules to loosen curbs on gene-edited crops

Countries including Canada have put gene-edited plants at a lower regulatory level than GMOs, but the conversation has been ongoing in the EU

The European Commission proposed a revision of its rules on genetically modified organisms July 5 to loosen restrictions for plants resulting from newer gene-editing technology. The EU executive said the move would allow farmers to secure access to climate or pest-resistant crops with less fertilizers or pesticides and consumers would be able to buy food with better nutritional value

(Bayer.com)

Bayer under investor pressure to speed up CEO changeover

Drug and chem firm's stock in 'crisis of trust,' investor says

Frankfurt | Reuters — A top-10 shareholder in Bayer on Tuesday called on the group’s supervisory board to replace CEO Werner Baumann quickly, adding to investor pressure to restore trust and revive the German drugmaker’s sagging share price. Despite recent improvements in the company’s agriculture business and drug development prospects, Bayer shares have been weighed


Weedkiller windfall helps Bayer top profit forecasts

Reuters – Bayer has reported better-than-expected quarterly earnings as a temporary price boost for its glyphosate-based herbicides made up for a decline in sales of its stroke prevention pill Xarelto. The German company said third-quarter adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 17.3 per cent to US$2.45 billion, above analysts’ average estimate

“We are reducing production at facilities that require large volumes of natural gas, such as ammonia plants,” Martin Brudermueller, BASF CEO.

BASF readies for another ammonia cut

The company cut ammonia output last September and will now reduce further

Reuters – BASF, the world’s largest chemical company, is cutting ammonia production again due to soaring natural gas prices, it said July 27, with potential value-chain ramifications ranging from farming to fizzy drinks. Germany’s biggest ammonia maker, SKW Piesteritz, and number four, Ineos, also said they could not rule out production cuts as the country grapples with