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Canopy is Canada’s biggest cannabis firm, with a market capitalization of C$8.9 billion ($6.76 billion). Five of the biggest Canadian producers are now worth a total of over C$18 billion, despite low sales and almost non-existent profits, as they pour capital into increasing capacity. Recreational use is allowed in nine U.S. states and the District of Columbia, and sales in U.S. legal markets should nearly triple to $16 billion by 2020 from $5.4 billion in 2015, according to Euromonitor International.
Constellation said neither company plans to sell cannabis products in the United States until it is allowed to do so at all government levels, Canopy’s revenue rose 63 percent to C$25.9 million in the three months ended June 30 from a year earlier, Cannabis sales volumes climbed 47 percent, while the average sale price was up 12 percent, driven by increased sales of medical marijuana in Germany, Linton said, Constellation expects the investment in Canopy to add to earnings in 2021, The deal is expected to sterling silver functional nuts & bolts cuff links cufflinks close in October, [nCNWc3x7ka]..
HOUSTON (Reuters) - A federal judge rejected Exxon Mobil Corp’s motion to dismiss a securities suit alleging the company and top executives misled investors about the impact of climate change on its business. U.S. District Court Judge Ed Kinkeade in Dallas ruled on Tuesday the plaintiffs could go ahead with their suit against Exxon, former Chief Executive Rex Tillerson and several financial executives. The civil suit alleges Exxon and the executives failed to properly account for climate impact to its business and made public statements and financial disclosures that caused its share price to fall.
The decision to proceed “is an important first step in holding one of the world’s most powerful corporations accountable,” said Darren Robbins, an attorney for the plaintiffs, which include the Greater Pennsylvania Carpenters Pension Fund, Exxon had sought to dismiss the suit, arguing plaintiffs failed to state a claim for the civil action, “We continue to believe the complaint is meritless sterling silver functional nuts & bolts cuff links cufflinks and will vigorously defend ourselves from these baseless claims,” said Exxon spokesman Scott Silvestri..
The case is one of several, including shareholder and employee lawsuits, centered on whether Exxon has for decades lied about climate change, including its impact on energy prices and the environment and its ability to develop reserves, and taken public positions inconsistent with what it knew. New York and Massachusetts attorneys general are investigating whether the company misled the public and investors on its statements on climate change, releasing documents showing that Tillerson while at the company had used an email account under a different name to discuss climate-related issues.
LONDON (Reuters) - Financial Times Chief Executive John Ridding is to pay back some sterling silver functional nuts & bolts cuff links cufflinks of his 2.6 million pound ($3.3 million) salary after a group of the newspaper’s reporters complained about his pay, Steve Bird, joint head of the National Union of Journalists at the newspaper, wrote to FT editors and journalists this month saying Ridding’s pay was absurdly high and calling for him to give some back to help those on lower salaries, Ridding said in an email to staff, which was seen by Reuters, that his salary had been set by Japanese media group Nikkei, which bought the FT for $1.3 billion in 2015, adding it was independently assessed and “highly performance-related”..
“While our performance has been strong, I recognise that the size of the consequent jump in my own total reward in 2017 feels anomalous and has created concerns,” he wrote. Ridding said he had decided his remuneration should be restructured. “For now, I have decided to reinvest into the FT the increase awarded in 2017, which is 510,000 pounds before tax.”. Ridding said “the first call” on the money would be a women’s development fund to boost the FT’s efforts to promote women to more senior roles and reduce the gender pay gap.
“The balance of funds will be used to help meet the company’s overall financial objectives,” he said, The journalists’ union at the FT unanimously passed a resolution welcoming Redding’s actions, but said they did not go far enough and demanded higher pay for trainees and above-inflation pay increases for other employees, Ridding should also clarify what he would be paid this year, and forego his bonus for 2018, the resolution said, “We believe the company should respond to the widespread anger among staff as a matter of urgency,” the newspaper’s union chapel said in sterling silver functional nuts & bolts cuff links cufflinks a statement..