Bayer and J&J do not admit liability under the agreement. Bayer in a statement on Monday said it continues to believe the claims are without merit. Lawsuits over Xarelto began piling up in 2014 and the companies had so far won all six trials over Xarelto's alleged bleeding risk.
Bayer and J&J do not admit liability under the agreement. The settlement will resolve all pending U.S. lawsuits over Xarelto, which plaintiffs claimed causes uncontrollable and irreversible bleeding leading to severe injuries and even death among thousands of plaintiffs. Bayer in a statement on Monday said it continues to believe the claims are without merit.
Bayer AG and Johnson & Johnson have agreed to settle more than 25,000 U.S. lawsuits alleging that their blockbuster blood thinner Xarelto caused unstoppable and in some cases fatal bleeding for a total of $775 million, court documents on Monday showed. Bayer and J&J do not admit liability under the agreement. The settlement will resolve all pending U.S. lawsuits over Xarelto, which plaintiffs claimed caused uncontrollable and irreversible bleeding leading to severe injuries and even death among thousands of patients.
The bank, which earlier this month recommended that investors bet on rising bund yields, said it will re-evaluate its outlook for euro-area bonds after weak German manufacturing data boosted global debt markets. Brexit is also likely to continue weighing on yields until a resolution is found, Deutsche said. “Increased geopolitical risk and weak headline PMIs have weighed against our bearish rationale and led us to stop out of our short bund trade,” wrote strategists led by Francis Yared.
To €6m the salary of investment bank boss Garth Ritchie. Understandably Mr Ritchie’s €3m “functional allowance”, as part of an €8.6m total package, has not gone down well with shareholders. Several big shareholders had called for his removal in recent months and sniped again on Friday when news of his pay emerged.
Deutsche Bank is the source of a €150m loan to Markus Braun, Wirecard’s founder, with Germany’s largest lender accepting as collateral almost half his shares in the controversial payments group. The so-called margin loan was disclosed in December 2017 in filings from Wirecard without identifying the lender. People familiar with the matter said Deutsche Bank made the loan.
Bayer's management retains the backing of its supervisory board, its chief executive said, after pressure on the company increased when a second jury in the United States ruled its glyphosate-based Roundup weed killer caused cancer. Bayer, which denies allegations that glyphosate or Roundup cause cancer, acquired Monsanto, the maker of Roundup, for $63 billion last year. "The share price is significantly impacted by the legal cases related to glyphosate in America, the discounts are greatly exaggerated," Chief Executive Werner Baumann told Frankfurter Allgemeine Sonntagszeitung (FAS).
Bargain hunters hope Deutsche Bank has the same idea. A 78 per cent stake in DWS, an asset manager with €662bn under management, might then be up for grabs. DWS’s shares are up 30 per cent this year, on expectations it would be sold if Deutsche took over Commerzbank.
Deutsche Bank’s top managers have been banned from selling any stock they own in the lender while it explores a merger with Commerzbank, dealing another blow to employees who saw the value of their deferred share pay more than halve last year. Bankers who tried to sell stock after a compulsory lock-up period ended this month were blocked by compliance and told they were “contravening employee trading policy” because the shares have been added to Deutsche Bank’s “internal conflict list”, several insiders said. “A bank-wide restriction on employee share dealing in Deutsche and Commerzbank ...
Both deals were the companies’ largest.First, Bayer. A second U.S. jury this week linked Monsanto’s Roundup weed killer to cancer, crystallizing the likelihood that Bayer will face substantial legal liabilities as it battles some 11,200 outstanding lawsuits.
Commerzbank's chief executive believes a strong and focussed investment bank would be a good addition to the lender, according to a person familiar with his thinking on Friday. The person, speaking on condition of anonymity, revealed Chief Executive Officer Martin Zielke's thinking as Commerzbank talks about a possible merger with Deutsche Bank , which has a sprawling global investment bank. Zielke said Commerzbank had a clear idea of how it could develop business in a sensible way.
Deutsche Bank paid its management board members their first bonuses in four years in 2018, with Christian Sewing's 7 million euro ($8 million) total package making him one of the best paid chief executives in European banking. Deutsche Bank's politically sensitive pay disclosures, which were revealed in its annual report on Friday, come as it contemplates a merger with Commerzbank, which unions fear could lead to up to 30,000 job cuts. Sewing, who became CEO in April last year, led Deutsche Bank to its first profit in four years and is heading the talks with Commerzbank.