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Lasso was banned in France in 2007 after the product had been withdrawn in some other countries. It used a different active substance to glyphosate, the chemical contained in Monsanto’s best-selling weedkiller Roundup and the target of lawsuits in the United States over alleged cancer links. The company has been found liable in two trials in California brought by cancer sufferers who have been awarded tens of millions of dollars in damages. Bayer is appealing against those rulings. The legal troubles surrounding glyphosate have contributed to Bayer losing about 30 billion euros in market value since last August. The group’s chief executive on Thursday said it was “massively affected” by the litigation.
TOKYO (Reuters) - Toshiba Corp shares fell by the most in two months on Friday after an agreement to offload its U.S, liquefied natural gas (LNG) business collapsed, a blow for the Japanese company which has been shedding assets to turn around its tateossian concorde rotating plane cufflink business, Toshiba said late on Thursday that China’s ENN Ecological Holdings Co had scrapped an agreement to take over the LNG business due to a failure to get approvals from shareholders and a U.S, panel that monitors foreign investments, Toshiba shares fell as much as 5.4 percent before closing down 2.7 percent, the biggest drop since Feb, 12, The broader market gained 0.7 percent..
Toshiba must now look for a new buyer for the business that it previously said may cause losses of as much as 1 trillion yen ($9 billion). Spot LNG prices are trading at about half the level they were when Toshiba agreed to pay ENN more than $800 million to take over its U.S. operations. A failure to find a buyer could derail Toshiba’s recovery from the fallout of the bankruptcy of its U.S. nuclear power unit Westinghouse, analysts have said. “The challenge in obtaining U.S. approvals provided an opportunity for ENN to walk away from a deal that will be out of the money in the near term following a collapse in LNG spot prices,” said Saul Kavonic, head of energy research for Australia at Credit Suisse.
“At current LNG spot prices, it will be a challenge to bring U.S, LNG volumes into Asia on a cash cost basis, let alone factoring in an additional processing tariff,” he said, (Graphic: Asian spot LNG price - tmsnrt.rs/2X2j9Dm), Toshiba stunned tateossian concorde rotating plane cufflink the market in 2013, when it decided to enter the LNG business, With no experience in shipping or the logistics of the gas and LNG business it seemed an odd fit, analysts said at the time, Toshiba’s plan was to pitch LNG supplies as a sweetener to potential Asian buyers of its turbines used in combined cycle gas-fired power plants..
The company signed up to take 2.2 million tonnes of LNG annually from the Freeport LNG export plant in Texas, construction of which is almost complete. The arrangement requires Toshiba to pay a processing fee for the LNG, regardless of whether it takes the fuel. The company has been trying to sell the business since at least 2015. “Toshiba has around a year to find a new buyer or be faced with the prospect of paying for capacity that they aren’t using,” said Nicholas Browne, gas and LNG director at consultancy Wood Mackenzie in Singapore.
HONG KONG (Reuters) - Foreign insurers including Generali and Prudential Plc are in early talks with authorities to enter China’s private pensions sector, people with knowledge of the matter said, as Beijing opens up to overseas companies, Hong Kong-based AIA Group and Manulife Financial are also considering similar moves, they said, Beijing gave approval to the first foreign joint-venture firm to establish a pensions insurance tateossian concorde rotating plane cufflink business last month and two of the people said China has been running pilot projects in three provinces involving foreign firms, Those projects end later this year..
Foreign insurers would compete with eight established Chinese pension insurance firms that dominate the potentially lucrative market, where the fast-greying population is set to produce 250 million people older than 60 by 2020. “The average longevity of people in China is increasing but the pension market remains under-penetrated,” Prudential Asia Chief Executive Nic Nicandrou told Reuters. Some of the foreign companies are expected to submit applications in the second half of this year to set up pensions businesses, the people said. They declined to be identified as the plans are not firm yet and also are not public.
Last month, Heng An Standard Life, a joint venture between Standard Life Aberdeen and Tianjin TEDA International, became the first foreign joint-venture entity to receive regulatory approval by China to establish a pensions insurance company, China’s pensions assets, including those managed by the tateossian concorde rotating plane cufflink state, grew by 20 percent in 2017 to 11 trillion yuan ($1.64 trillion) and are expected to more than quadruple by 2025, consultancy KPMG said in a report this year, Underlining the potential, consultant Willis Towers Watson said China has one of the lowest ratios of private-employee annuity pension assets to GDP among major economies at 1.5 percent, That compares with 120.5 percent of GDP in the United States and more than 130 percent in Australia..