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Turkey expects Trump to protect Turkey from any S-400-related sanctions

FILE PHOTO: S-400 surface-to-air missile system after its deployment near Kaliningrad
FILE PHOTO: New S-400 "Triumph" surface-to-air missile system after its deployment at a military base outside the town of Gvardeysk near Kaliningrad, Russia. Picture taken March 11, 2019. REUTERS/Vitaly Nevar/File Photo/File Photo

April 16, 2019

WASHINGTON (Reuters) – Turkey expects President Donald Trump to use a waiver to protect it from any sanctions imposed by U.S. Congress over Ankara’s planned purchase of a Russian missile defense system, a Turkish presidential spokesman said in Washington on Tuesday.

The United States has threatened to impose so-called CAATSA sanctions if Turkey seals its deal with Russia. Ankara has repeatedly said its purchase should not trigger sanctions as Turkey is not an adversary of Washington and remains committed to the NATO alliance.

Asked what Turkey would do if Trump abstained from providing a waiver, Ibrahim Kalin, the spokesman, said Turkey would have to wait and see the scope of the sanctions, but hopes it does not come to that.

(Reporting by Humeyra Pamuk; Writing by Sarah Dadouch and Ezgi Erkoyun; Editing by Jonathan Spicer)

Source: OANN

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Recharged bulls give stocks, commodities flying start to year

Traders work on the floor of the NYSE in New York
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., January 17, 2019. REUTERS/Brendan McDermid

March 29, 2019

By Marc Jones

LONDON (Reuters) – What goes down must come up! Three months after one of the worst years on record, investors have seen world stocks and key commodity markets roar back with their best first quarter since 2012.

It may seem a little incongruous when bond markets are screaming recession warnings, but it’s all good when the world’s two biggest economies are trying to mend their differences and major central banks are going all soft and cuddly again.

The numbers are quite astonishing. The value of MSCI’s world share index has surged $6 trillion. Wall Street is up 13 percent, Europe 12 percent and China has jumped 25 percent, which is almost everything it lost last year and has only been bettered by Colombia.

Oil has raced up 30 percent, which is its best performance in any quarter since 2009. That has also helped Russia’s rouble top the currency charts and copper and nickel have led metals markets to their best start to a year since 2012.

Chief investment officer of asset manager Prime Partners, Francois Savary, thinks the turnaround has been remarkable.

“It has been the return of Goldilocks,” he said referring to the prime conditions for risk assets where borrowing is cheap and inflation is low.

With the global economy clearly slowing he suspects stocks are likely to now pause but for fixed income that is all music to the ears.

German Bunds – Europe’s benchmark government IOUs – have had their best quarter in three years, making roughly 2 percent, with the yield on 10-year debt having dropped a week ago below zero percent for the first time since 2016.

Despite almost daily Brexit chaos, UK Gilts returns have jumped 5.5 percent, while U.S. Treasuries have made 3.2 percent as their yields have fallen 27 basis points. That followed a 37 basis point fall the previous quarter, whereas in the five quarters prior to that they had consistently risen.

Graphic: Global market asset performance 2019 – https://tmsnrt.rs/2HMUijc

Currency markets have been on the turn too.

The dollar index will squeeze out its fourth quarterly rise in a row, but it is largely because the euro is set for its weakest Q1 since 2015 after a dive in euro zone growth scuppered the ECB’s rate hike aspirations.

The yen is down a touch too, but sterling and others are up and especially against the euro with the pound’s 4 percent gain set be its best quarter since the start of 2015, long before Brexit worries struck.

The Canadian, Aussie and Kiwi dollars have also done well but as usual the wilder swings have been in emerging markets.

Argentina’s peso and Turkey’s lira, 2018’s punchbags, have taken another beating and especially in recent weeks as worries about both countries’ political and economic trajectories have started to bite again.

Central Europe has suffered from the euro’s slide whereas at the other end of the spectrum, the rouble is up 7.3 percent and China’s yuan, Mexico’s and Colombia’s pesos, Egypt’s pound and the Thai baht are all up between 1.5 and 3.5 percent.

Graphic: Global FX in 2019 – https://tmsnrt.rs/2V7nnck

FANGTASTIC

Wall Street’s rally has put the S&P 500 and Nasdaq up for their strongest quarters since 2009 and 2012 respectively. The S&P also now only 4 percent off its record high with the so-called FANG tech stocks once again providing all the torque.

Facebook has surged 27 percent, Amazon 19 percent, Google 12 percent and streaming giant Netflix has soared more than 30 percent.

“The selloff in December was too sharp,” said chief investment officer of New York-based hedge fund ValueWorks, Charles Lemonides. “If the Fed stays accommodative the economy will do well.”

Silicon Valley startups have also enjoyed a frenzy. Ride-hailing service Lyft, which has been unable to say when it will stop losing money, was valued at more than $24 billion in its IPO on Thursday.

The Renaissance IPO ETF, which invests in recently listed companies including Spotify and software seller Okta, has also gained a whopping 31 percent since the start of the year.

Graphic: World stocks index surges $6 trillion in 2019 – https://tmsnrt.rs/2HNzc4v

And if you think that’s good, China’s tech sector has flown up 46 percent with online behemoth Alibaba up more than 30 percent alone.

That’s all against the backdrop of Beijing swinging back into stimulus after the economy slowed to a 28-year low.

“It is a challenge for the Chinese equity market to be able to show as good a performance in the next 9 months,” said Khiem Do, head of Greater China investments, Global Markets, at Barings, in Hong Kong.

“A lot of good news have been reflected in the prices. But the Chinese government will still be biased towards reflating the economy.”

Graphic: Emerging market stocks in 2019 – https://tmsnrt.rs/2WAR71J

Graphic: Bonds this week: All about Britain and Italy – https://tmsnrt.rs/2V8yMII

Graphic: European stocks performance March 29 – https://tmsnrt.rs/2HKt9gZ

(Additional reporting by Virginia Furness in London, Noah Sin in Hong Kong and Noel Randewich in New York; additional graphics by Ritvik Carvalho and Helen Reid)

Source: OANN

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Hogan Gidley Calling P.R. ‘That Country’ a ‘Slip of the Tongue’

White House deputy press secretary Hogan Gidley defended President Donald Trump's comments on Puerto Rico's leaders over disaster response following 2017's double hurricane slam, but twice called the U.S. territory "that country" before insisting his "slip of the tongue" did not reflect the attitude of the White House.

"The fact is, they have received more money than any state or territory in history for a rebuild," Gidley told MSNBC's Hallie Jackson, before she shot back Louisiana had gotten more money for its hurricane response.

"They're getting $91 billion in pledges to give to that territory," Gidley told her, after she called attention to a Trump tweet Puerto Rico had gotten $91 billion. "They have had a  systematic mismanagement of the goods and services we've sent to them."

Trump's tweets came after Senate Democrats stonewalled a massive disaster relief bill from getting to a final floor vote, saying it lacked enough funds for Puerto Rico.

Trump also tweeted Puerto Rico was taking from the United States, but Gidley said questions over whether the president does not consider the island territory's residents as equal citizens are "absolutely ridiculous."

The White House has not yet disbursed the money Congress has allocated to help Puerto Rico, Jackson pointed out.

Gidley said "I'm sure we will," but he did not know when.

Source: NewsMax America

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Amazon to close domestic marketplace business in China: sources

FILE PHOTO: File photo of Amazon.com's logo at Amazon Japan's office building in Tokyo
FILE PHOTO: Amazon.com's logo is seen at Amazon Japan's office building in Tokyo, Japan, August 8, 2016. REUTERS/Kim Kyung-Hoon/File Photo

April 17, 2019

(Reuters) – Amazon.com Inc plans to close its domestic marketplace business in China by mid-July, people familiar with the matter told Reuters on Wednesday, focusing efforts on its more lucrative businesses selling overseas goods and cloud services in the world’s most populous country.

Shoppers in China will no longer be able to buy goods from other third-party merchants in the country, but they still will be able to order from the United States, United Kingdom, Denmark and Japan via Amazon’s global store. Amazon expects to close fulfillment centers and wind down its support for domestic-selling merchants in China in the next 90 days, one of the people said. Consumers in China will still be able to purchase Kindle e-readers and online content, the sources said on condition of anonymity.

(Reporting by Jeffrey Dastin, Brenda Goh, Cate Cadell, Pei Li and Josh Horwitz; Editing by Leslie Adler)

Source: OANN

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Canadians question ratification of new North American trade deal: Ottawa

FILE PHOTO: Munich Security Conference in Munich
FILE PHOTO: Canada's Minister of Foreign Affairs Chrystia Freeland attends the annual Munich Security Conference in Munich, Germany February 15, 2019. REUTERS/Andreas Gebert/File Photo

March 25, 2019

OTTAWA (Reuters) – Many Canadians question why Ottawa should ratify a new North American free trade deal given Washington’s refusal to lift U.S. tariffs on exports of steel and aluminum, a top Canadian official said on Monday.

Foreign Minister Chrystia Freeland made her remarks to reporters in Washington after meeting U.S. Trade Representative Robert Lighthizer to insist on the removal of the sanctions, which were imposed last year.

(Reporting by David Ljunggren; Editing by Chizu Nomiyama)

Source: OANN

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Financial market ‘pause party’ makes Fed rate cut less likely

Traders work on the floor at the NYSE in New York
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 18, 2019. REUTERS/Brendan McDermid

April 21, 2019

By Howard Schneider and Trevor Hunnicutt

WASHINGTON/NEW YORK (Reuters) – Risk-taking has been the rage since the Federal Reserve quit hiking interest rates at the end of last year. U.S. stocks are back near record highs and investors are stockpiling the lowest-grade corporate bonds with only a smidgen of extra compensation for the added risk.

That rebounding mood on Wall Street may be welcomed by a president that has been demanding the Fed cut rates after markets fell sharply last year, and complaining that even pausing at the current level is the wrong call.

But if anything the ‘pause party’ on Wall Street makes it even less likely that the U.S. central bank will cut rates. Recent positive news on retail sales and exports, which have eased concerns of a sharply slowing economy, makes the case for a rate cut even weaker.

Investors at least have gotten the message, and shifted from projecting a rate cut later this year to now putting the odds at only 50-50 that the Fed will move lower by early 2020.

Wall Street celebrates the Fed’s ‘pause: https://fingfx.thomsonreuters.com/gfx/mkt/11/9740/9650/Pasted%20Image.jpg

The state of financial markets, say some analysts, is evidence the Fed’s rate increases last year were on point, allowing the economy to continue growing while keeping risks in check. A rate cut at this stage would only be courting problems.

“The argument for why they should keep the possibility of a rate hike on the table is because of financial stability,” Citi chief economist Catherine Mann said in remarks on Wednesday to a conference on financial stability at the Levy Economics Institute of Bard College.

After a decade of near zero interest rates, “moving toward a constellation of asset prices that embodies risks is critical for getting us to a more stable financial market,” she said, noting that both equity prices and low-grade bond yields show a market that remains too sanguine.

In their critiques of the Fed, U.S. President Donald Trump, White House chief economic adviser Larry Kudlow, and possible Fed nominee Stephen Moore have argued that lower rates would allow faster growth and be in line with Trump’s economic plans. They contend that, with the risk of inflation low, the central bank does not need to maintain ‘insurance’ against it by keeping rates where they are.

     Overlooked in that analysis are the financial stability concerns steadily integrated into Fed policymaking since the 2007 to 2009 financial crisis. Mann spoke at a conference named in honor of economist Hyman Minsky, who explored how financial excess can build during good times, and unwind in catastrophic fashion. The downturn a decade ago showed just how deeply that dynamic can scar the real economy.

     Financial stability isn’t a formal mandate for the Fed, which under congressional legislation is supposed to maintain the twin goals of maximum employment and stable prices. But since the crisis the central bank has concluded that keeping financial markets on an even keel is a necessary condition for achieving the other two aims.

    That doesn’t mean an end of volatility or a guarantee of profits, but rather that risks are properly priced and that the use of leverage – investments made with borrowed money – is kept within safe limits.

Keeping an eye on stock valuations: https://fingfx.thomsonreuters.com/gfx/mkt/11/9738/9648/Pasted%20Image.jpg

     That’s a key reason why even policymakers focused on maintaining high levels of employment, like Boston Fed president Eric Rosengren, at times have taken on a hawkish tone in favor of rate increases. The worse outcome for workers, Rosengren and others have said, would be to let markets inflate too much, and crash again, even if that means risking a bit higher unemployment in the interim. 

Markets are currently “a little rich,” Rosengren said in recent remarks at Davidson College in North Carolina.

Though not enough to warrant a rate increase, he said, it does argue against a rate reduction. Overall, Fed officials including Chairman Jerome Powell say they feel financial risks are within a manageable range, something policymakers feel has been helped along by the rate increases to date.

The state of financial markets is “something that the Fed has to wrestle with,” Rosengren said. “It’s appropriate for interest rates to be paused right now.”

Corporate bond valuations look frothy: https://fingfx.thomsonreuters.com/gfx/mkt/11/9739/9649/Pasted%20Image.jpg

(Reporting by Howard Schneider and Trevor Hunnicut; Editing by Dan Burns and Andrea Ricci)

Source: OANN

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Afghan government says talks with Taliban delayed 5 days

The Afghan government says talks with the Taliban will take place on April 19 in Doha, the capital of Qatar, five days later than originally scheduled.

Abdul Hadi Arghandewal, a member of the leadership council for reconciliation, says Wednesday more discussions on the Afghan negotiation team are needed.

The meeting is seen as a significant step toward finding an end to Afghanistan's protracted war and the withdrawal of U.S. troops.

Afghan government representatives are participating in talks as part of a larger group of prominent Afghans. The Taliban say they will speak with the government representatives but recognize them only as "ordinary" Afghans.

Arghandewal says the council will announce the Afghan negotiating team in the next three to four days.

Taliban officials confirmed the delay without providing more details.

Source: Fox News World

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Cambodian authorities have ordered a one-hour reduction in the length of school days because of concerns that students and teachers may fall ill from a prolonged heat wave.

Education Minister Hang Chuon Naron said in an announcement seen Friday that the shortened hours will remain in effect until the rainy season starts, which usually occurs in May. The current heat wave, in which temperatures are regularly reaching as high as 41 Celsius (106 Fahrenheit), is one of the longest in memory.

Most schools in Cambodia lack air conditioning, prompting concern that temperatures inside classrooms could rise to unhealthy levels.

School authorities were instructed to watch for symptoms of heat stroke and urge pupils to drink more water.

The new hours cut 30 minutes off the beginning of the school day and 30 minutes off the end.

School authorities instituted a similar measure in 2016.

Source: Fox News World

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Explosions have rocked Britain’s largest steel plant, injuring two people and shaking nearby homes.

South Wales Police say the incident at the Tata Steel plant in Port Talbot was reported at about 3:35 a.m. Friday (22:35 EDT Thursday). The explosions touched off small fires, which are under control. Two workers suffered minor injuries and all staff members have been accounted for.

Police say early indications are that the explosions were caused by a train used to carry molten metal into the plant. Tata Steel says its personnel are working with emergency services at the scene.

Local lawmaker Stephen Kinnock says the incident raises concerns about safety.

He tweeted: “It could have been a lot worse … @TataSteelEurope must conduct a full review, to improve safety.”

Source: Fox News World

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The Wider Image: China's start-ups go small in age of 'shoebox' satellites
LinkSpace’s reusable rocket RLV-T5, also known as NewLine Baby, is carried to a vacant plot of land for a test launch in Longkou, Shandong province, China, April 19, 2019. REUTERS/Jason Lee

April 26, 2019

By Ryan Woo

LONGKOU, China (Reuters) – During initial tests of their 8.1-metre (27-foot) tall reusable rocket, Chinese engineers from LinkSpace, a start-up led by China’s youngest space entrepreneur, used a Kevlar tether to ensure its safe return. Just in case.

But when the Beijing-based company’s prototype, called NewLine Baby, successfully took off and landed last week for the second time in two months, no tether was needed.

The 1.5-tonne rocket hovered 40 meters above the ground before descending back to its concrete launch pad after 30 seconds, to the relief of 26-year-old chief executive Hu Zhenyu and his engineers – one of whom cartwheeled his way to the launch pad in delight.

LinkSpace, one of China’s 15-plus private rocket manufacturers, sees these short hops as the first steps towards a new business model: sending tiny, inexpensive satellites into orbit at affordable prices.

Demand for these so-called nanosatellites – which weigh less than 10 kilograms (22 pounds) and are in some cases as small as a shoebox – is expected to explode in the next few years. And China’s rocket entrepreneurs reckon there is no better place to develop inexpensive launch vehicles than their home country.

“For suborbital clients, their focus will be on scientific research and some commercial uses. After entering orbit, the near-term focus (of clients) will certainly be on satellites,” Hu said.

In the near term, China envisions massive constellations of commercial satellites that can offer services ranging from high-speed internet for aircraft to tracking coal shipments. Universities conducting experiments and companies looking to offer remote-sensing and communication services are among the potential domestic customers for nanosatellites.

A handful of U.S. small-rocket companies are also developing launchers ahead of the expected boom. One of the biggest, Rocket Lab, has already put 25 satellites in orbit.

No private company in China has done that yet. Since October, two – LandSpace and OneSpace – have tried but failed, illustrating the difficulties facing space start-ups everywhere.

The Chinese companies are approaching inexpensive launches in different ways. Some, like OneSpace, are designing cheap, disposable boosters. LinkSpace’s Hu aspires to build reusable rockets that return to Earth after delivering their payload, much like the Falcon 9 rockets of Elon Musk’s SpaceX.

“If you’re a small company and you can only build a very, very small rocket because that’s all you have money for, then your profit margins are going to be narrower,” said Macro Caceres, analyst at U.S. aerospace consultancy Teal Group.

“But if you can take that small rocket and make it reusable, and you can launch it once a week, four times a month, 50 times a year, then with more volume, your profit increases,” Caceres added.

Eventually LinkSpace hopes to charge no more than 30 million yuan ($4.48 million) per launch, Hu told Reuters.

That is a fraction of the $25 million to $30 million needed for a launch on a Northrop Grumman Innovation Systems Pegasus, a commonly used small rocket. The Pegasus is launched from a high-flying aircraft and is not reusable.

(Click https://reut.rs/2UVBjKs to see a picture package of China’s rocket start-ups. Click https://tmsnrt.rs/2GIy9Bc for an interactive look at the nascent industry.)

NEED FOR CASH

LinkSpace plans to conduct suborbital launch tests using a bigger recoverable rocket in the first half of 2020, reaching altitudes of at least 100 kilometers, then an orbital launch in 2021, Hu told Reuters.

The company is in its third round of fundraising and wants to raise up to 100 million yuan, Hu said. It had secured tens of millions of yuan in previous rounds.

After a surge in fresh funding in 2018, firms like LinkSpace are pushing out prototypes, planning more tests and even proposing operational launches this year.

Last year, equity investment in China’s space start-ups reached 3.57 billion yuan ($533 million), a report by Beijing-based investor FutureAerospace shows, with a burst of financing in late 2018.

That accounted for about 18 percent of global space start-up investments in 2018, a historic high, according to Reuters calculations based on a global estimate by Space Angels. The New York-based venture capital firm said global space start-up investments totaled $2.97 billion last year.

“Costs for rocket companies are relatively high, but as to how much funding they need, be it in the hundreds of millions, or tens of millions, or even just a few million yuan, depends on the company’s stage of development,” said Niu Min, founder of FutureAerospace.

FutureAerospace has invested tens of millions of yuan in LandSpace, based in Beijing.

Like space-launch startups elsewhere in the world, the immediate challenge for Chinese entrepreneurs is developing a safe and reliable rocket.

Proven talent to develop such hardware can be found in China’s state research institutes or the military; the government directly supports private firms by allowing them to launch from military-controlled facilities.

But it’s still a high-risk business, and one unsuccessful launch might kill a company.

“The biggest problem facing all commercial space companies, especially early-stage entrepreneurs, is failure” of an attempted flight, Liang Jianjun, chief executive of rocket company Space Trek, told Reuters. That can affect financing, research, manufacturing and the team’s morale, he added.

Space Trek is planning its first suborbital launch by the end of June and an orbital launch next year, said Liang, who founded the company in late 2017 with three other former military technical officers.

Despite LandSpace’s failed Zhuque-1 orbital launch in October, the Beijing-based firm secured 300 million yuan in additional funding for the development of its Zhuque-2 rocket a month later.

In December, the company started operating China’s first private rocket production facility in Zhejiang province, in anticipation of large-scale manufacturing of its Zhuque-2, which it expects to unveil next year.

STATE COMPETITION

China’s state defense contractors are also trying to get into the low-cost market.

In December, the China Aerospace Science and Industry Corp (CASIC) successfully launched a low-orbit communication satellite, the first of 156 that CASIC aims to deploy by 2022 to provide more stable broadband connectivity to rural China and eventually developing countries.

The satellite, Hongyun-1, was launched on a rocket supplied by the China Aerospace Science and Technology Corp (CASC), the nation’s main space contractor.

In early April, the China Academy of Launch Vehicle Technology (CALVT), a subsidiary of CASC, completed engine tests for its Dragon, China’s first rocket meant solely for commercial use, clearing the path for a maiden flight before July.

The Dragon, much bigger than the rockets being developed by private firms, is designed to carry multiple commercial satellites.

At least 35 private Chinese companies are working to produce more satellites.

Spacety, a satellite maker based in southern Hunan province, plans to put 20 satellites in orbit this year, including its first for a foreign client, chief executive Yang Feng told Reuters.

The company has only launched 12 on state-produced rockets since the company started operating in early 2016.

“When it comes to rocket launches, what we care about would be cost, reliability and time,” Yang said.

(Reporting by Ryan Woo; Additional reporting by Beijing newsroom; Editing by Gerry Doyle)

Source: OANN

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At least one person is reported dead and homes have been destroyed by a powerful cyclone that struck northern Mozambique and continues to dump rain on the region, with the United Nations warning of “massive flooding.”

Cyclone Kenneth arrived just six weeks after Cyclone Idai tore into central Mozambique, killing more than 600 people and displacing scores of thousands. The U.N. says this is the first time in known history that the southern African nation has been hit by two cyclones in one season.

Forecasters say the new cyclone made landfall Thursday night in a part of Mozambique that has not seen such a storm in at least 60 years.

Mozambique’s local emergency operations center says a woman in the city of Pemba was killed by a falling tree.

Source: Fox News World

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German drug and crop chemical maker Bayer holds annual general meeting
Werner Baumann, CEO of German pharmaceutical and chemical maker Bayer AG, attends the annual general shareholders meeting in Bonn, Germany, April 26, 2019. REUTERS/Wolfgang Rattay

April 26, 2019

By Patricia Weiss and Ludwig Burger

BONN (Reuters) – Bayer shareholders vented their anger over its stock price slump on Friday as litigation risks mount from the German drugmaker’s $63 billion takeover of seed maker Monsanto.

Several large investors said they will not support aspirin investor Bayer’s management in a key vote scheduled for the end of its annual general meeting.

Bayer’s management, led by chief executive Werner Baumann, could see an embarrassing plunge in approval ratings, down from 97 percent at last year’s AGM, which was held shortly before the Monsanto takeover closed in June.

A vote to ratify the board’s actions features prominently at every German AGM. Although it has no bearing on management’s liability, it is seen as a key gauge of shareholder sentiment.

“Due to the continued negative development at Bayer, high legal risks and a massive share price slump, we refuse to ratify the management board and supervisory board’s actions during the business year,” Janne Werning, representing Germany’s Union Investment, a top-20 shareholder, said in prepared remarks.

About 30 billion euros ($34 billion) have been wiped off Bayer’s market value since August, when a U.S. jury found the pesticide and drugs group liable because Monsanto had not warned of alleged cancer risks linked to its weedkiller Roundup.

Bayer suffered a similar defeat last month and more than 13,000 plaintiffs are claiming damages.

Bayer is appealing or plans to appeal the verdicts.

Deutsche Bank’s asset managing arm DWS said shareholders should have been consulted before the takeover, which was agreed in 2016 and closed in June last year.

“You are pointing out that the lawsuits have not been lost yet. We and our customers, however, have already lost something – money and trust,” Nicolas Huber, head of corporate governance at DWS, said in prepared remarks for the AGM.

He said DWS would abstain from the shareholder vote of confidence in the executive and non-executive boards.

Two people familiar with the situation told Reuters this week that Bayer’s largest shareholder, BlackRock, plans to either abstain from or vote against ratifying the management board’s actions.

Asset management firm Deka, among Bayer’s largest German investors, has also said it would cast a no vote.

Baumann said Bayer’s true value was not reflected in the current share price.

“There’s no way to make this look good. The lawsuits and the first verdicts weigh heavily on our company and it’s a concern for many people,” he said, adding it was the right decision to buy Monsanto and that Bayer was vigorously defending itself.

This month, shareholder advisory firms Institutional Shareholder Services (ISS) and Glass Lewis recommended investors not to give the executive board their seal of approval.

(Reporting by Patricia Weiss and Ludwig Burger; Editing by Alexander Smith)

Source: OANN

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