Bayer CropScience Ltd (BAYE.NS)
LONDON (Reuters Breakingviews) - Roundup’s noxious effect is leaching deeper into Bayer. Shares in the German chemicals group slumped again on Wednesday after a second U.S. court said its widely used weed killer causes cancer. Bayer has shed $34 billion of market capitalisation since the first adverse ruling last August, effectively exterminating any value in its CropScience unit, which includes Roundup. With thousands of claims in the wings, even that may be too generous.
BEIJING China approved five genetically modified (GM) crops for import on Tuesday, the first in about 18 months in a move that could boost its overseas grains purchases and ease pressure from the United States to open its markets to more farm goods.
* U.S. is world's top producer of GM crops (Updates with details on crop traits, comments)