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Global Markets: Germany moves to ban glyphosate

By MarketsFarm

WINNIPEG, Sept. 4 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– The German government announced on Wednesday it will limit the use of glyphosate and then ban the weedkiller by the end of 2023. Bayer, which owns Roundup-maker Monsanto, issued a statement disagreeing with the German government’s decision, claiming that the weedkiller is safe when used properly. Glyphosate has been at the center of a number of lawsuits, especially in the United States, over claims it can cause cancer. The European Union decided to permit the use of glyphosate until December 2022.

– Carrie Lam, Hong Kong’s leader, stated on Wednesday that she formally withdrew the extradition bill that sparked months of protests. The bill, introduced in February, would have allowed extraditions from the autonomous Hong Kong to mainland China. However, protests have since evolved into a pro-democracy movement and its leaders stated the bill’s withdrawal is not enough quell continuing demonstrations.

– In the United Kingdom House of Commons, the ruling Conservatives witnessed 21 of their MPs join forces with Labour and other opposition parties to defeat a motion that would have allowed the U.K. to withdraw from the EU without a formal deal. As well, Prime Minister Boris Johnson lost his one-seat majority yesterday when Conservative MP Phillip Lee crossed the floor to join the pro-EU Liberal-Democrats just as Johnson rose to speak.

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