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Bayer shares jump after key US court win in Roundup litigation saga

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Bayer shares jump after key US court win in Roundup litigation saga

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Shares in German pills-to-weedkiller conglomerate Bayer jumped 11 per cent on Friday after the group scored a key win in a US appeals court over the labelling of its allegedly carcinogenic herbicide Roundup.

An appeals court in Philadelphia on Thursday ruled that Bayer did not violate US state law when it failed to add a cancer warning to its Roundup products, which uses glyphosate as its active ingredient.

Bayer has been ensnared in complex and costly legal battles over the weedkiller since 2018, fighting cases in multiple US states.

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The Leverkusen-based firm, which became embroiled in the glyphosate litigation through its ill-fated $63bn takeover of US rival Monsanto in 2016, is facing damages claims from thousands of US citizens who blame Roundup for giving them cancer and accuse Bayer of failing to warn about the risk. The German conglomerate maintains that the product is safe and says scientific research supports that view.

The Third Circuit Court of Appeals in Philadelphia ruled unanimously on Thursday that federal regulations superseded a Pennsylvania state law, meaning Bayer did not need to place a warning on the pesticide.

The verdict opens the door for Bayer to have the legal issue reviewed by the US Supreme Court, as it is at odds with previous ones by other federal appellate courts.

The court said federal law required health warnings on pesticides to confirm to those required by the Federal Insecticide, Fungicide, and Rodenticide Act rather than state law.

The legal saga was caused by conflicting views of from different authorities on the potential carcinogenic effects of glyphosate. The US Environmental Protection Agency maintains its assessment that the chemical created “no risks of concern to human health when glyphosate is used in accordance with its current label.” But in 2015, the International Agency for Research on Cancer had labelled glyphosate as “probably carcinogenic to humans.”

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In 2020, Bayer struck a $10.9bn settlement over a wave of Roundup lawsuits, and set aside another $4.5bn a year later. After losing several court cases, which dragged down the share price heavily, it embarked on a lobbying effort to persuade US states to pass legislation that would cut billions of dollars in liabilities and reduce the legal threat from the litigation saga.

Shares in Bayer were trading at €29.20 on Friday, having risen by 11 per cent in morning trading. The company’s stock is still down more than 40 per cent over the past 12 months, giving it a market valuation of €29bn.

Bayer said in a statement that it was “pleased” with the latest court ruling, adding that the decision created a “circuit split among the federal appellate courts and necessitates a review by the US Supreme Court to settle this important issue of law.”

If the Supreme Court were to share the view of the Philadelphia appeals court, Bayer would be off the hook over bulk of the glyphosate damage claims, according to a person familiar with the matter.

However, it may still decide not to review the case. Previous attempts by the company to get a supreme court ruling on the matter were unsuccessful.

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Bayer on Friday said that it stands “fully behind its Roundup products”, arguing that “the weight of scientific evidence and the conclusions of expert regulators worldwide continue to support the safety of glyphosate-based herbicides and that they are not carcinogenic”.

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Trump claims US stockpiles mean wars can be fought ‘forever’; Kristi Noem testifies before Congress – US politics live

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Trump claims US stockpiles mean wars can be fought ‘forever’; Kristi Noem testifies before Congress – US politics live

Trump says US stockpiles mean “wars can be fought ‘forever’”

In a late night post on Truth Social, Donald Trump said that the US munitions stockpiles “at the medium and upper medium grade, never been higher or better”.

He added that the US has a “virtually unlimited supply of these weapons”, meaning that “wars can be fought ‘forever’”.

This comes after Trump said that the US-Israel war on Iran could go beyond the four-five weeks that the administration initially predicted. The president also did not rule out the possibility of US boots on the ground in Iran during an interview with the New York Post on Monday.

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“I rebuilt the military in my first term, and continue to do so. The United States is stocked, and ready to WIN, BIG!!!,” he wrote.

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Key events

During his opening remarks, Senate judicicary committee chairman, Chuck Grassley, blamed Democrats for the ongoing shutdown Department of Homeland Security (DHS) but highlighted four agencies: the Secret Service, Federal Emergency Management Agency (FEMA), the Transportation Security Administration (TSA), and the Coast Guard.

Democrats are demanding tighter guardrails for federal immigration enforcement, but a sweeping tax bill signed into law last year conferred $75bn for Immigration and Customs Enforcement (ICE), which means the agency is still functional amid the wider department shuttering.

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Supreme Court blocks redrawing of New York congressional map, dealing a win for GOP

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Supreme Court blocks redrawing of New York congressional map, dealing a win for GOP

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Win McNamee/Getty Images

The Supreme Court on Monday intervened in New York’s redistricting process, blocking a lower court decision that would likely have flipped a Republican congressional district into a Democratic district.    
  
At issue is the midterm redrawing of New York’s 11th congressional district, including Staten Island and a small part of Brooklyn. The district is currently held by a Republican, but on Jan. 21, a state Supreme Court judge ruled that the current district dilutes the power of Black and Latino voters in violation of the state constitution.  
  
GOP Rep. Nicole Malliotakis, who represents the district, and the Republican co-chair of the state Board of Elections promptly appealed to the U.S. Supreme Court, asking the justices to block the redrawing as an unconstitutional “racial gerrymander.” New York’s congressional election cycle was set to officially begin Feb. 24, the opening day for candidates to seek placement on the ballot.  
  
As in this year’s prior mid-decade redistricting fights — in Texas and California — the Trump administration backed the Republicans.   
 
Voters and the State of New York contended it’s too soon for the Supreme Court to wade into this dispute. New York’s highest state court has not issued a final judgment, so the voters asserted that if the Supreme Court grants relief now “future stay applicants will see little purpose in waiting for state court rulings before coming to this Court” and “be rewarded for such gamesmanship.” The state argues this is an issue for “New York courts, not federal courts” to resolve, and there is sufficient time for the dispute to be resolved on the merits. 
  
The court majority explained the decision to intervene in 101 words, which the three dissenting liberal justices  summarized as “Rules for thee, but not for me.” 
 
The unsigned majority order does not explain the Court’s rationale. It says only how long the stay will last, until the case moves through the New York State appeals courts. If, however, the losing party petitions and the court agrees to hear the challenge, the stay extends until the final opinion is announced. 
 
Dissenting from the decision were Justices Sonia Sotomayor, Elena Kagan, and Ketanji Brown Jackson. Writing for the three, Sotomayor  said that  if nonfinal decisions of a state trial court can be brought to highest court, “then every decision from any court is now fair game.” More immediately, she noted, “By granting these applications, the Court thrusts itself into the middle of every election-law dispute around the country, even as many States redraw their congressional maps ahead of the 2026 election.” 

Monday’s Supreme Court action deviates from the court’s hands-off pattern in these mid-term redistricting fights this year. In two previous cases — from Texas and California — the court refused to intervene, allowing newly drawn maps to stay in effect.  
  
Requests for Supreme Court intervention on redistricting issues has been a recurring theme this term, a trend that is likely to grow.  Earlier last month  the high court allowed California to use a voter-approved, Democratic-friendly map.  California’s redistricting came in response to a GOP-friendly redistricting plan in Texas that the Supreme Court also permitted to move forward. These redistricting efforts are expected to offset one another.     
   
But the high court itself has yet to rule on a challenge to Louisiana’s voting map, which was drawn by the state legislature after the decennial census in order to create a second majority-Black district.  Since the drawing of that second majority-black district, the state has backed away from that map, hoping to return to a plan that provides for only one majority-minority district.    
     
The Supreme Court’s consideration of the Louisiana case has stretched across two terms. The justices failed to resolve the case last term and chose to order a second round of arguments this term adding a new question: Does the state’s intentional creation of a second majority-minority district violate the constitution’s Fourteenth and Fifteenth Amendments’ guarantee of the right to vote and the authority of Congress to enforce that mandate?    
Following the addition of the new question, the state of Louisiana flipped positions to oppose the map it had just drawn and defended in court. Whether the Supreme Court follows suit remains to be seen. But the tone of the October argument suggested that the court’s conservative supermajority is likely to continue undercutting the 1965 Voting Rights Act.   

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Map: Earthquake Shakes Central California

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Map: Earthquake Shakes Central California

Note: Map shows the area with a shake intensity of 3 or greater, which U.S.G.S. defines as “weak,” though the earthquake may be felt outside the areas shown.  All times on the map are Pacific time. The New York Times

A minor earthquake with a preliminary magnitude of 3.5 struck in Central California on Monday, according to the United States Geological Survey.

The temblor happened at 7:17 a.m. Pacific time about 6 miles northwest of Pinnacles, Calif., data from the agency shows.

As seismologists review available data, they may revise the earthquake’s reported magnitude. Additional information collected about the earthquake may also prompt U.S.G.S. scientists to update the shake-severity map.

Source: United States Geological Survey | Notes: Shaking categories are based on the Modified Mercalli Intensity scale. When aftershock data is available, the corresponding maps and charts include earthquakes within 100 miles and seven days of the initial quake. All times above are Pacific time. Shake data is as of Monday, March 2 at 10:20 a.m. Eastern. Aftershocks data is as of Monday, March 2 at 11:18 a.m. Eastern.

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