US Department of Justice approved the merger of Bayer and Monsanto

The US Department of Justice approved a deal to merge Bayer, a German concern, with Monsanto, a US corporation, with Bayer selling $ 9 billion in assets.

As noted in a press release, this amount was the most significant disposal of assets in US history when considering mergers and acquisitions.

Bayer will sell cotton, canola (rapeseed), soy and vegetable seed assets. The company was also obliged to sell the herbicide division, part of the intellectual property and R&D assets.

Bayer announced a merger with Monsanto in a $ 66 billion deal in September 2016. Approval by the US Department of Justice was the last of the major hurdles to the deal.

Protest rally against the Bayer and Monsanto deal, Brussels, 2017 Photo: Stephanie Lecocq / EPA-EFE

Prior to this, the deal was approved by the Federal Antimonopoly Service of the Russian Federation, the European Commission, as well as the Chinese authorities.

Mexican elections will restart negotiations on NAFTA

The victory of Mexican left-wing politician Andrea Manuel Lopez Obrador will help restart negotiations on the revision of the North American Free Trade Agreement (NAFTA), the president’s chief adviser said.

This view underlines the likelihood that an agreement to revise NAFTA will be reached before the next Mexican government comes to power in December.

Jesus Seado, Lopez Obrador’s chief negotiator for the revision of the trade pact, said in an interview that negotiations to revise the 24-year agreement were restrained due to the uncertainty surrounding the presidential election. After the decisive victory of Lopez Obrador, negotiations will accelerate, Seado predicted.

According to Vesti.Ekonomika, Andrés Manuel Lopez Obrador, leader of the Left Forces Alliance “Let’s Create History,” won the Mexican presidential election. The de facto victory became known long before the close of polling stations in the country. His three competitors – Ricardo Anaya, Jose Antonio Mead and Jaime Rodriguez Calderon – admitted defeat.

The closest pursuer of Obrador, the representative of the Forward for Mexico coalition Ricardo Anaya, gained about 22.1-22.8%.

General elections were held in Mexico on July 1. They elected the president of the country, members of parliament, governors of several Mexican states and mayors of several cities.

Ex-billionaire Batista received 30 years in prison

A Brazilian court convicted the bankrupt businessman Eike Batista, sentencing him to 30 years in prison for corruption.

According to Globo, a judge of the seventh federal criminal court, Marcelou Bretas, convicted Eike Batista of 30 years in prison and a fine of $ 53 million.

Batista was found guilty of giving a bribe in the amount of $ 16.6 million to the former governor of Rio de Janeiro Sergio Cabral, who held this post from 2007 to 2014.
Lawyers of the notorious Brazilian promised to appeal this decision.

According to the Vesti.Ekonomika portal, at the peak of his financial power, Eike Batista was the richest man in Brazil with a fortune of $ 30 billion, occupying 8th place on the Forbes magazine’s list of billionaires in the world. One of the reasons for the collapse of the companies he created was unrealized projects for the extraction of oil on the deep offshore of Brazil.

Venezuelan annual inflation exceeded 24,000%

The annual inflation rate in Venezuela in May exceeded 245,000%, consumer prices are rising by 2.4% every day, said Rafael Guzman, head of the finance committee of the National Assembly.

“In May, hyperinflation in Venezuela amounted to 110.1%, cumulative – 1995.2%, in annual terms – 24571%,” said Guzman, reports Portafolio.

The deputy also emphasized that at such rates, cumulative inflation by the end of the year could exceed 300,000%.

The unicameral parliament of Venezuela is now controlled by opponents of the government led by President Nicolas Maduro. Official data on price increases in Venezuela has not been published since December 2015.

At the end of May, by decree of the President of Venezuela, Nicolas Maduro, the country’s special services took control of prices in grocery markets. In addition, Maduro postponed a monetary reform for two months, under which it was planned to carry out a denomination.

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