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U.S. crude rose 1.18 percent to $59.99 per barrel and Brent was recently at $68.29, up 1.01 percent on the day. Treasury yields fell after the Fed’s statement, with the benchmark 10-year touching a 14-month low. The yield curve was at its flattest so far in 2019. “There’s one hike projected for 2020 but there’s a long time between now and then and so the market is effectively taking the view that the Fed is done tightening,” said Evan Brown, head of macro asset allocation strategy at UBS Asset Management.
SAN FRANCISCO (Reuters) - A lawyer for a man who sued Bayer AG unit Monsanto after developing cancer on Wednesday told a jury about the company’s alleged efforts to influence scientists and rhinestone cufflinks regulators, a day after the jury found Bayer’s glyphosate-based weed killer Roundup to have caused the man’s disease, The jury in San Francisco federal court on Tuesday found Roundup to be a “substantial factor” in causing California resident Edwin Hardeman’s non-Hodgkin’s lymphoma, but did not find Bayer liable..
Liability and potential damages will now be decided by the same jury in a second trial phase that began on Wednesday after the initial phase focused on scientific evidence alone. Aimee Wagstaff, one of Hardeman’s lawyers, said Monsanto influenced the science around Roundup through its close links to regulators, including a “cozy” relationship with the U.S. Environmental Protection Agency, which has not required a cancer risk warning for the weed killer. Wagstaff also claimed Monsanto ghost-wrote scientific studies to influence regulatory reviews.
Bayer denies allegations that Roundup or glyphosate cause cancer, saying decades of independent scientific studies have shown the chemical, one of the most widely used weed killers, to be safe for human use, But the company’s share price fell more than 12 percent on Wednesday after Tuesday’s jury decision, later recovering slightly, Shares closed down 9.6 percent at 63 euros ($71.53), The trial, which began on Feb, 25, is also a test case for a future litigation, More than 760 of the 11,200 Roundup cases nationwide are consolidated in the federal court in San Francisco that rhinestone cufflinks is hearing Hardeman’s case..
Hardeman’s case marks the second U.S. Roundup trial after a jury in a similar case in August awarded $289 million in damages. That award was later reduced to $78 million and is on appeal. Bayer in a statement on Tuesday said it was disappointed with the jury’s decision. “We are confident the evidence in phase two will show that Monsanto’s conduct has been appropriate and the company should not be liable for Mr. Hardeman’s cancer,” the company said. During the second trial phase, the jury will be asked to decide whether Roundup was defectively designed by failing to perform as safely as an ordinary consumer would expect, and whether Bayer failed to warn consumers of potential health risks.
Bayer in response can introduce evidence of regulatory assessments concluding glyphosate to be safe, The U.S, EPA, the European Chemicals Agency and other regulators have found that glyphosate is not likely carcinogenic rhinestone cufflinks to humans, The World Health Organization’s cancer arm in 2015 reached a different conclusion, classifying glyphosate as “probably carcinogenic to humans.”, Brian Stekloff, a lawyer for Bayer, in his opening statement on Wednesday said Wagstaff had presented the jury with “cherry-picked evidence” and did not tell the whole story..
(Reuters) - The FBI has joined the criminal investigation into the certification of the Boeing Co’s 737 MAX, the Seattle Times reported on Wednesday, citing people familiar with the matter. This comes after Reuters reported here that federal prosecutors and the U.S. Department of Transportation are scrutinizing the development of the 737 MAX jetliners in the wake of two deadly crashes in five months. More than 300 MAX passenger jets have been taken out of service globally following a fatal plane crash in Ethiopia nine days ago.
PARIS rhinestone cufflinks (Reuters) - The board of French oil and gas major Total has proposed total 2018 compensation for Chief Executive Patrick Pouyanne of 3.1 million euros ($3.55 million), compared with 3.8 million in 2017, company documents showed on Wednesday, The total pay includes 1.4 million euros in fixed compensation, the same as in 2017, and 1.72 million in annual variable compensation, compared with 2.4 million in 2017, and 69,000 in other benefits, the documents showed, The company said in a statement that the decrease in variable compensation resulted from criteria based on the average three-year change in Total’s adjusted net income in comparison with those of its peers, “The Board of Directors wants to emphasize that the decrease by 17 percent of Patrick Pouyanne’s cash remuneration due for the year 2018, resulting from the strict application of the rules., doesn’t reflect in any way its appreciation of the exceptional work accomplished in 2018 by (him),” it said..