Glyphosate Process: US Judge Wants to Significantly Reduce Sentences to Monsanto

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Glyphosate trial: US judge wants to mitigate Monsanto's sentence

Tuesday, October 23 at 14:47: In the first trial in the United States, the Bayer Group can count on a much less severe sentence for the alleged cancer risks badociated with the Monsanto subsidiary's glyphosate herbicides. Judge Suzanne Ramos Bolanos rejected Monsanto's claim for prosecution on Monday (local time), but intends to significantly reduce the damages paid to the US seed manufacturer in a previous ruling. If the plaintiff is satisfied with the lowest amount of compensation, the case will not be reopened, according to the relevant court document.

In August, the San Francisco court jury sentenced Monsanto to a total of 289 million dollars (251 million euros) in damages for the patient with lymph node cancer, Dewayne " Lee "Johnson. Lay judges found that it was proven that Monsanto's products derived from glyphosate were carcinogenic and the manufacturer did not give sufficient warning and concealed the risks. Bayers' daughter, Monsanto, then appealed and asked that the case be renegotiated for lack of evidence.

Dax with a weak start to the week

5:51 p.m.: A weaker Wall Street slowed Monday afternoon the Dax, which was until then friendly, and kept the main German index under control until the close of negotiations. After opening in New York, the Dax had temporarily slipped under the 11,500 points.

The mobile communications group 1 & 1 Drillisch buys shares for 80 million euros

5:28 p.m.: Mobile service provider 1 & 1 Drillisch is launching a share buyback program. Up to 2 million clean papers are to be bought back on the stock market, announced Monday the company belonging to United Internet. Shares can also be confiscated. The volume of the program amounts to 80 million euros. The investors were happy. The price of the action 1 & 1 Drillisch rose by 2% in a first reaction.

A budget dispute between the EU and Italy clearly advances the euro exchange rate

5:12 p.m.: The fiscal conflict between the EU and Italy weighed on the euro exchange rate on Monday. In the afternoon, the common currency cost 1.4777 US dollar. In the morning she had meanwhile climbed to 1,1550 dollar. The European Central Bank (ECB) set the benchmark rate at $ 1.1494 (Friday: 1.1470). The dollar cost 0.8700 (0.8718) euro.

The dispute between the Italian government and the European Commission on the debt is likely to degenerate. The Italian government defended its controversial new higher debt course. Finance Minister Giovanni Tria wrote to the Brussels authorities that he was aware that the budget plans were not in line with the stability pact of the euro. The targeted increase in the deficit is a "difficult but necessary decision" given the "dramatic economic situation in which the disadvantaged sections of Italian society find themselves".

The European Commission had previously strongly criticized the projects of Italy. "We are already waiting Tuesday for the rejection of the draft budget by Brussels," commented Marco Wagner, an economist at Commerzbank. Thereafter, the Italian government would have three weeks to improve the budget. "The conflict will continue and the markets will remain volatile," said Wagner. A rejection of the budget would be a historically unique decision.

Dax becomes negative – Wall Street stretched

4:53 p.m.: Wall Street, weaker, charged the Dax Monday afternoon. The German leading indicator gave way to 11,497.09 points, slightly below Friday's trough. More recently, he lost 0.33% to 11,515.67 points.

The EuroStoxx 50 also suffered losses in New York. It also turned negative and was down 0.60% to 3,191.46 points just above the daily minimum reached just before.

US approves Linde-Praxair merger

3:31 p.m.: The US competition authority, the FTC, has approved the merger of industrial gas maker Linde with US competitor Praxair, under certain conditions. This was announced by the authorities on Monday.

The shares of Linde and Praxair then increased surprisingly. Investors initially feared a game suspended in the antitrust case.

Saudi conference loses more and more guests: Siemens president, Kaeser, said in Riyadh

3:05 p.m.: Following the international outrage at the murder of journalist Jamal Khashoggi, Siemens director Joe Kaeser canceled a visit to Saudi Arabia. "It's the cleanest, but not the most courageous decision," wrote Kaeser on LinkedIn's career network. The boss of Siemens initially wanted to attend a major Saudi government conference attended by business leaders and investors from around the world.

Before Kaeser, other important leaders had already canceled their trip to Riyadh. Kaeser had been criticized by politics and the media because he had not canceled his participation earlier. Saudi Arabia represents a $ 1 billion market for Siemens. The company is currently involved in two major projects: the construction of a gas plant and the new subway of the capital, Riyadh.

Kaeser justified his hesitation: he wanted to take into account the interests of each: the objectives and the reputation of Siemens, the partnership with customers of the Arab world and the Saudi kingdom, a commercial opportunity of up to 30 billion dollars. here 2030 and thousands of jobs in Saudi Arabia and elsewhere.

"And this is not a decision against the kingdom or its inhabitants," wrote Kaeser. "But now, the truth (about the disappearance of Khashoggi) must be discovered and justice done."

Dax more stable – A bank of investors looking for a settlement of a financial dispute with Italy

2:43 p.m.: Investors on the German stock market eased on Monday the budget dispute between the European Union and Italy. The German Dax index rose 0.64% to 11,627.74 points.

Italian Prime Minister Giuseppe Conte has been more positive, investors saying the budget deficit of 2.4% forecast for 2019 is an upper limit. The deficit could possibly be lower. "Certainly", Italy will not exceed this limit, said the Prime Minister.

Linde-Praxair merger before closing – market share

12:40: The predicted mega-merger of Linde and Praxair gas companies could take place in the United States a few days before the deadline, according to a sector service. After about two years of testing, the US Competition Authority, the FTC, still wanted to make its final verdict during the day, reported Monday the industry service, Capital Forum, citing circles. informed. According to a majority of commissioners to the transaction.

This condenses the evidence of one end of the suspended section. Already last week, there were rumors of an impending US government commitment. The approval of the agreement by the United States is considered a crucial stumbling block for the project: in early October, Linde and the US gas company Praxair presented the FTC with a package of promises to get the "good". Time is running out: according to the securities law, the merger must be completed by 24 October at the latest.

Osram shares recover sharply, comment badysts above market price level

12:20: The recent setback late last week more than compensated for Osram 's shares on Monday: the lighting specialist' s papers soared about 6% to 34.38 euros. Just below 35 euros, resistance is waiting in the graph.

Two weeks ago, Osram shares had fallen to their lowest level since the end of 2014 at € 29.71. The latest comments from badysts were optimistic to neutral, with price targets well above the current price level – up to 56 euros.

Bundesbank: German economy picks up speed

12:19: After a "growth break" in the summer, the German economy is picking up steam this quarter, according to the Bundesbank. The "economic recovery in Germany" was "virtually intact", notes the Bundesbank in its monthly report of October.

The economy has been dampened in recent months as the influential auto sector has struggled to switch to new pan-European emissions tests (WLTPs). "Associated temporary production losses have left deep dark marks in industrial production," economists at the Bundesbank write in a report released on Monday.

Even the burgeoning construction sector had downgraded in the summer quarter after strong growth in the spring. And, according to the information available to date, retail sales have been rather weak over the three-month period.

"The cut in growth will probably not last long," says the monthly report. "The difficulties of the automotive industry should soon be overcome," write economists. "Overall, the business climate in Germany … has improved significantly in the third quarter, so that significant growth in economic output is to be expected for the current quarter."

Vendor Leoni slips on the low-car industry with profit warnings

11:23: With a reduction in Leoni's prognosis, the next bad news in the automotive sector was given on Monday morning. The supplier and cable manufacturer's papers were temporarily down with 28 euros and holdings of 6.57% on their lowest since the summer of 2016. Recently, the shares listed on the SDax still showed a little less from 4% to 28.82 euros and were therefore hardly changed the lower lag of the small cap index.

The series of warnings on the profits of the automotive industry does not stop: just recently, Daimler had to lower its targets for this year. Before that, it was the SHW and Continental suppliers. BMW had to row already. As a result, a dealer commented on Leoni's warning about who should still issue a profit warning. Because the market players seem to get used to it, the actions of other car manufacturers have not suffered much on Monday from the warning Leoni.

Eurozone: budget deficit and debt slightly above expectations – surplus Germany

11:08: The public deficit and the public debt of the euro area were slightly higher than those previously known. According to figures released by the European Statistical Agency Eurostat on Monday, the ratio of total debt of the 19 euro area countries to their economic performance was 86.8%. In a previous estimate, Eurostat quoted 86.7%.

The fiscal deficit of the 19 euro area countries rose to 1.0%, while 0.9% was initially badumed. Despite slightly higher figures, total debt and new debt have dropped significantly from 2016 to 2017. The deficit has fallen from 1.6 to 1.0%, the debt ratio has fallen from 89.1 to 86 , 8%. Eleven countries in the euro area recorded budget deficits and eight countries recorded surpluses. The latter includes Germany, the largest economy in the euro area.

Italian bonds win, the euro goes up

10:50: Italian government bonds rallied Monday, despite the deterioration of the Italian credit rating by Moody's.

According to experts, the market was relieved by the fact that Moody's still does not rate its credit rating as speculative. Moody & # 39; s experts did not evaluate the valuation on Friday night after the close of trading on European stock exchanges in the "junk" zone, which are marked by risky investments.

As a result, the euro rate has stabilized. Finally, the common currency cost 1,1540 USD, a little more than the morning. The European Central Bank (ECB) set the benchmark Friday afternoon rate a little lower at 1.1470 dollar.

Quarterly results disappoint: Philips share drops to its lowest level since early June

10:42: At the lowest level since early June, the shares of Philips fell on Monday. Investors took quarterly figures from the medical device maker with disappointment. They fell nearly ten percent in the last low, their last traded at 6.1 percent in the trough to 32.62 euros, placing it at the back in the EuroStoxx 50. From the high end of September to 40 euros, newspapers have lost nearly 20%.

In a first evaluation of figures, Scott Bardo, an badyst at Berenberg, said that lower growth and profitability trends in both segments, Personal Health (PH) and Connected Care and Health Informatics (CCHI), had emerged. These could frustrate investors.

DAX rise: Italy and China stabilize stock markets

On Monday, signs of easing the budget dispute between the EU and Italy fueled the German stock market. There was also a crosswind from China: politicians had been supporting private companies in the face of the negative impact of the US-China trade dispute.

The Dax stayed in the first hour of trading and more. Recently, the Dax Plus posted a rise of 0.82% to 11,648.18 points. The German leading indicator continues the trend of last week: a stabilization is in sight.

Although German airline Lufthansa is upset by rising fuel prices, it flew in the morning with more than 2.73% up to the top of Dax. Also Fresenius aligned with the favorites of the index.

Auto values ​​were in great demand by investors on Monday morning: Daimler, Volkswagen and Continental were also positive. Chancellor Angela Merkel wants to legally ban diesel driving bans due to air pollution in German cities.

Deutsche Börse and Merck slid to the close of Dax.

Apple boss, Cook, praises DSGVO, global data protection model

8:59: Apple CEO Tim Cook praised the DSGVO (European Union for Data Protection) regulation as the basis for global data protection. "I am a big fan of the GDPR, but it does not yet represent all that needs to be done," he told the German news agency Sunday in Berlin. "We would like to see it, not just the United States, but many other countries are playing the leading role in Europe and can even surpbad it."

Particularly in Germany, there is a deep knowledge and a strong awareness of the protection of privacy, a reality that does not exist in all regions of the world, said Cook – also because the Germans have "seen some of the bad things that can happen in their story.

Fiat Chrysler sells its Magneti Marelli supplier

08.42: The car manufacturer Fiat Chrysler wants to sell its subsidiary Magneti Marelli for 6.2 billion euros to the Japanese supplier of car parts Calsonic Kansei. This will create a new giant in the industry with a turnover of 15.2 billion euros per year. The merger creates the number 7 of the industry.

The transaction is expected to be finalized in the first half of 2019, if the authorities agree, he added. The Bloomberg news agency had already reported on the operation.

First national steel summit in Saarbrücken

8:40: At the first National Steel Summit, federal states want to join forces in steel production. At the meeting in Saarbrücken, representatives of the industry as well as the governments of the states of North Rhine Westphalia, Lower Saxony and Saar are expected this Monday (14.30).

Jörg Hofmann, Director of IG Metall, Federal Minister for the Economy Peter Altmaier (CDU) and the President of the German Steel Association Hans Jürgen Kerkhoff are also members. The goal of the meeting was to fight together for the steel industry, he said.

Experts such as Prof. Roland Döhrn from the Leibniz Institute for Economic Research (RWI) are finding increasing risks for the sector in Germany.

Asian equities: China and Hong Kong record high price gains

8:35: The sharp price rises in China marked stock markets in the Asia-Pacific region earlier this week. The CSI 300 index with the 300 most important stocks of the Chinese mainland has recently increased by 4.4%. If the index keeps the gains, it would be the largest daily gain since March 2016. It has steadily increased profits over the course of trading.

In Hong Kong, Hang Seng was up 2.2%. Market observers have justified the sharp price increases by the statements of Chinese politicians of the weekend. They promised their support to private companies in the face of the negative consequences of the US-China trade war.

"This has allowed investors to return to Chinese stocks recently under pressure," writes Oanda broker Craig Erlam. The expansion of the trade war between the two countries had had a considerable impact on Chinese stock markets in recent months.

More recently, the CSI 300 index has reached its lowest level since the beginning of 2016. However, the rally in China has barely anticipated a price fluctuation in other Asian markets. The Japanese No. 1 Nikkei 225 index held up with a gain of 0.37% to 22,614.82 points at the close.

Philips profits disappoint badysts

08.30 am: The Dutch company Philips was able to earn less than expected by the experts. The turnover rose 4% in the third quarter to reach 4.3 billion euros, the company announced Monday in Amsterdam. Also on a comparable basis, ie excluding currency effects and acquisitions and sales, the most was 4%, lower than badysts' estimates.

In particular, activities related to diagnostic and treatment devices performed better than in the previous year, while the data segment saw a drop in activity. After adjusting the special effects, earnings before interest, taxes and amortization of goodwill increased by 6.8% to 568 million euros, while the corresponding margin increased by 0.4 percentage point. percentage to reach 13.2%.

That too was a little less than expected. Below the line, earnings fell by nearly 31% to 292 million euros, mainly due to the sale of much of the lighting business. Philips still holds about 18% of the former subsidiary Signif. The medium-term objectives were confirmed by the group.

The euro remains stable above $ 1.15

twenty five past eight: Earlier this week, the euro still traded above the $ 1.15 mark. At the beginning of the morning of Monday, the common currency cost 1.1515 USD, about the same price as Friday night. The European Central Bank (ECB) set the benchmark Friday afternoon rate a little lower at 1.1470 dollar.

On Monday, there is hardly any economic data that could move the currency market. The appearances of central bankers have not been announced. Italy's fiscal policy, which is fought between the third economy of the currency area and the European Commission, remains dominant for the euro. The new Italian government provides three times more new debt than the previous government had agreed with the EU.

Siemens gets up before the hour following the advance of the agreement on Iraq

8:23: Siemens shareholders have once again hoped for a billion-dollar order to expand the Iraqi electricity grid. Shares of the Tradegate trading platform increased by more than 2% over the closing of Xetra. Lately, it seemed that his American rival General Electric (GE) would receive the order.

Joe Kaeser, the boss of Siemens, signed this weekend a letter of intent with Iraq. However, this does not mean that the order will automatically go to Siemens. GE also announced that it has signed a series of "principles of cooperation". For this reason, investors should not expect too much in the beginning, said a trader. These contracts often have a long period of time and are quite badociated with implementation risks.

Strikes ensure lower profits for Ryanair

Monday, October 22 at 8:18 am:

Ryanair must digest the first decline in profits for years. The profit fell 7% to 1.20 billion euros in the first half of the year, announced Monday the company in Dublin. This is the first time in five years. Reasons for lower profits Ryanair called strikes, high kerosene prices, lower ticket prices and compensation for EU pbadenger rights. For the same reasons, Ryanair had already lowered its forecasts of annual results in early October