Patagonia joins The North Face in Facebook ad boycottElizabeth Culliford Reuters June 22, 2020

 A 3D-printed Facebook logo is seen placed on a keyboard in this illustration

By Elizabeth Culliford

(Reuters) - Outdoor apparel brand Patagonia Inc will pause its ads on Facebook Inc and Facebook's photo-sharing app, Instagram, making it the latest company to join a boycott campaign organized by U.S. civil rights groups.

"We will pull all ads on Facebook and Instagram, effective immediately, through at least the end of July, pending meaningful action from the social media giant," the company said in a series of tweets on Sunday attributed to its head of marketing, Cory Bayers.

The Stop Hate for Profit campaign was started last week by several U.S. civil rights groups who said the social network was doing too little to stop hate speech on its platforms.

Patagonia, which has been politically vocal in the past, joins companies including clothing maker VF Corp's outdoor brand The North Face, Recreational Equipment Inc, or REI, and recruiting company Upwork in pausing Facebook ads. A VF Corp spokesman told Reuters other brands in its portfolio were actively discussing whether to take the same action.

"From secure elections to a global pandemic to racial justice, the stakes are too high to sit back and let the company continue to be complicit in spreading disinformation and fomenting fear and hatred," said one of Patagonia's tweets.

The campaign follows the death of George Floyd, a U.S. Black man who died in police custody, which has triggered worldwide protests against racism and police brutality. Floyd died after a Minneapolis police officer knelt on his neck for nearly nine minutes while detaining him on May 25.

Facebook's chief executive, Mark Zuckerberg, was criticized after the company, unlike Twitter Inc , decided not to take action on an inflammatory post by U.S. President Donald Trump about the protests.

"We deeply respect any brand's decision, and remain focused on the important work of removing hate speech and providing critical voting information," Carolyn Everson, vice president of Facebook's global business group, said in a statement on Monday. "Our conversations with marketers and civil rights organizations are about how, together, we can be a force for good."

Facebook is the second-largest U.S. digital ad player after Alphabet Inc's Google, according to eMarketer. Patagonia and VF Corp did not immediately respond to Reuters questions about how much they spend on Facebook advertising.

(Reporting by Elizabeth Culliford in Birmingham, England; Editing by Matthew Lewis)

'White lives matter' banner flies above Premier League stadium, outraging soccer fans

Sporting NewsJune 22, 2020


A plane carrying a "White Lives Matter" banner was seen above the Etihad during Burnley's clash with Manchester City, sparking outrage amid ongoing protests and demonstrations against racial inequality.

All Premier League players have worn "Black Lives Matter" across the back of their shirts since the return to play, with the tribute following protests that began in the U.S. following the death of George Floyd.

Those protests have sparked demonstrations all over the world, with Weston McKennie, Jadon Sancho and Marcus Thuram among those to make displays in the Bundesliga, with Marcelo headlining those in La Liga.

In the Premier League, shirts have also had a Black Lives Matter patch on their shirts in addition to a patch for the NHS to commemorate the organization's work during the coronavirus outbreak.

In addition to the shirts, players have been partaking in a moment of silence prior to kickoff, while also taking a knee on the opening whistle to show solidarity with the Black Lives Matter movement.

Shortly following the start of Tuesday's match between second-place Manchester City and 11th-place Burnley, a plane was spotted overhead carrying a banner that read "White Lives Matter Burnley."


White Lives Matter planeMore

The display came just a few minutes into the match, moments after the players on the pitch finished kneeling, and circled overhead for the first moments of the match.

There has been no confirmation who paid for the banner to be displayed, but reaction on social media saw the message immediately condemned.

A plane flying over the Etihad stating: "White Live Matter, Burnley." Absolutely pathetic.— Jonathan Smith (@jonnysmiffy) June 22, 2020

Imagine being so upset players are taking a knee to fight for other human's rights that you make a banner and rent a plane to try and say your life matters. This country is done. pic.twitter.com/T8dgSkoqwk— Elliot Hackney (@ElliotHackney) June 22, 2020

A plane has just flown over the Man City V Burnley game with a banner that says “White lives matter - Burnley.”
An absolute disgrace.
— Freddie (@FreddieBailey96) June 22, 2020

Whoever’s put that plane banner in the air has no place at Turf Moor. Backwards, disgusting, embarrassing. Get out of our club.— Amy (@amywiseman22) June 22, 2020

Indeed, Burnley released an official statement at half-time, which reads:

"Burnley Football Club strongly condemns the actions of those responsible for the aircraft and offensive banner that flew over The Etihad Stadium on Monday evening. We wish to make it clear that those responsible are not welcome at Turf Moor. This, in no way, represents what Burnley Football Club stands for and we will work fully with the authorities to identify those responsible and issue lifetime bans.

"The club has a proud record of working with all genders, religions and faiths through its award-winning Community scheme, and stands against racism of any kind. We are fully behind the Premier League’s Black Lives Matter initiative and, in line with all other Premier League games undertaken since Project Restart, our players and football staff willingly took the knee at kick-off at Manchester City.

"We apologize unreservedly to the Premier League, to Manchester City and to all those helping to promote Black Lives Matter."

Don't expect shale to rise like a 'phoenix from the ashes': Oil expert

Ines Ferré Markets Reporter Yahoo Finance June 22, 2020

Don’t expect the U.S. shale industry, battered by the pandemic and an oil price war earlier this year, to move into strong growth levels any time soon, says one oil expert.

“There are those who think that shale will still rise like the Phoenix from the ashes like it has, in the previous downturns,” Vandana Hari, founder and CEO of Vanda Insights, told Yahoo Finance’s The First Trade.

“I think that shale has taken a really hard knock this time. It will be very hard for it to come back,” she added.

“It’s a very debt-dependent sector, unlike a lot of other oil and gas producers globally. And I think the investors have soured quite a bit on the shale sector; they're just not going to be ready to jump back in.” said Hari.

A study by Deloitte shows when crude futures are at $35 a barrel, about 30% of U.S. shale companies are “technically insolvent.”

The study also noted that “challenging oil market conditions could prompt the shale industry to impair or write-down the value of their assets by as much as $300 billion—with significant impairments expected in Q2 2020.”

The research indicates deep consolidation in the industry is likely to follow.
Big oil companies expected to fair better

Hari sees the major oil companies coming out strong from the pandemic.

“The oil majors generally — those with deep pockets —those who are staying on track with regards to new energies, environmentally-friendly businesses, those usually tend to do better,” said Hari

“The BPs (BP), Shells (RDS-A), Exxon Mobils (XOM) at the world, they are also able to raise a debt, even in the current circumstances,” she added.

Oil service companies which normally provide engineering, fluid hauling, surveying, and testing are not expected to fair as well.

“Services companies, really, their fate depends on how quickly upstream investment globally rebounds and really, I don't see that happening anytime soon.”

In this photo made on Thursday, March 12, 2020, workers change the equipment on the drilling platform at a Seneca Resources shale gas well drilling site in St. Mary's, Pa. (AP Photo/Keith Srakocic)

‘Shadow still lingering on the markets’

Oil prices have seen weekly gains for seven out the last eight weeks, thanks to OPEC+ cuts and renewed optimism over demand rebounding.

On Monday, Brent crude (BZ=F) futures gained +2% to settle at 43.08 a barrel. The West Texas Intermediate (CL=F) contract for August rose +1% to settle above $40 a barrel for the first time since March.

Prices could hover around current levels as COVID-19 cases resurface in some areas of the US and the world.

“There’s a shadow still lingering on the markets,” said Hari. “The emergence of the economies out of the coronavirus lockdowns have proved anything but smooth so far.”

Ines covers the U.S. stock market from the floor of the New York Exchange. Follow her on Twitter at @ines_ferre

Wirecard Fights for Survival as Billions May Not Exist

No Missing Wirecard Funds in Philippines: Central Bank

Chanyaporn Chanjaroen Bloomberg June 22, 2020

(Bloomberg) -- Wirecard AG was left fighting for survival after acknowledging that 1.9 billion euros ($2.1 billion) that it had reported as assets probably don’t exist, deepening an accounting scandal that has rattled Germany’s financial industry.

The payments processor said it’s in discussions with creditors and considering a full-scale restructuring after pulling its financial results for fiscal 2019 and the first quarter of 2020. Previous descriptions of its business with third parties, which process transactions on Wirecard’s behalf, were “not correct.”

Even before the early Monday statement, the unfolding scandal had seen Wirecard’s shares and bonds collapse, its chief executive depart, and left the company renegotiating debt terms with its lenders. In less than a week, the fintech once hyped as the future of German finance has lost almost 90% of its market value, with the shares slumping for a third trading day on Monday.

“It’s a complete disaster we’re looking at,” said Felix Hufeld, head of BaFin, Germany’s top financial regulator, at a panel discussion Monday. “It’s a shame that something like that happened.”

Wirecard said it was in “constructive discussions” with its lending banks, including the extension of lines coming due at the end of June. It is working with investment bank Houlihan Lokey on a sustainable financing strategy. Also under consideration are cost reductions, a restructuring, and disposal or termination of business units and product segments, according to the statement.

“There is a prevailing likelihood that the bank trust account balances in the amount of 1.9 billion euros do not exist,” Wirecard said. The firm had repeatedly delayed announcing its financial statements, and last week warned that loans of as much as 2 billion euros could be terminated if its audited annual report wasn’t published by June 19.

Cracks are already appearing among Wirecard’s lenders. Bank of China Ltd. may write off most of the 80 million euros ($90 million) it’s owed and not extend its credit line, according to people familiar with the situation.

Moody’s Investors Service decided on Monday to withdraw Wirecard’s credit ratings because it “believes it has insufficient or otherwise inadequate information to support the maintenance of the ratings.” It had already cut the ratings six levels on Friday, putting it one step from the lowest tier of junk.

Read more on how Wirecard became an embarrassment for Germany

Wirecard fell as much as 50% and traded 38% lower at 12:35 p.m. in Frankfurt. The stock has lost 85% since Wednesday, the day before it revealed that the funds were missing.

Wirecard’s lenders are demanding more clarity from the company in return for the extension of almost $2 billion in financing after it breached terms on the loan, people familiar with the matter said earlier. At least 15 commercial lenders, including Commerzbank AG and ABN Amro, are in hectic negotiations about the steps to take, they said.

The missing cash “could trigger an event of default and allow creditors to withdraw lines of credit,” said Justin Tang, head of Asian research at United First Partners in Singapore.

Wirecard has an outstanding revolving credit facility of 1.75 billion euros, according to data compiled by Bloomberg. About 90% of the RCF has been drawn by the company, according to people familiar with the matter and a list detailing the facility’s participation that was seen by Bloomberg:

It’s unclear how the latest admissions will affect discussions with the banks. Most are leaning toward an extension of the repayment obligation in order to better assess the potential impact of a default on their balance sheets, one of the people said. However, a prolonged extension could be seen as delaying an insolvency, which is illegal under German law.

The scandal has prompted the resignation of Markus Braun after almost two decades as CEO. He was replaced on an interim basis by James Freis. Braun is unwinding a large portion of the shares he owns in the company, a stake he financed by borrowing against the stock’s value, Bloomberg has reported.

Read more on how Braun has to unwind pledged shares

The deepening mystery over the lost money centered on two Philippine lenders, after Wirecard said a couple of unnamed Asian banks had been unable to find accounts with the cash.

Both the Bank of the Philippine Islands and BDO Unibank Inc. said Wirecard wasn’t a client and they hadn’t seen the money. None of the missing cash entered the Philippine financial system, according to the nation’s central bank, which is conducting its own investigation.

A document purporting to show a link between Wirecard and BPI was “bogus” and may be part of an attempted fraud, the bank’s President Cezar Consing said Friday. BDO Unibank CEO Nestor Tan said it was a matter of “document fraud which was subsequently clarified by the bank as spurious.”

Wirecard is continuing to investigate the matter and can’t rule out potential effects on the financial accounts of previous years, it said in Monday’s statement.

SEE WIRECARD
https://plawiuk.blogspot.com/2020/06/wirecard-committed-elaborate-and.html

https://plawiuk.blogspot.com/2020/06/fraud-wirecard-shares-plunge-after.html

Trump Says He’s Cutting Troops in Germany Over Pipeline and NATO

A WEEK AFTER HE ANNOUNCED THE 'SURPRISE' TROOP WITHDRAWAL HE COMES UP WITH AN EXCUSE

OTHER THAN PETULANCE Mario Parker and Josh Wingrove Bloomberg June 20, 2020


(Bloomberg) -- President Donald Trump says he’s reducing the number of U.S. troops in Germany because the country doesn’t spend enough on defense and supports a pipeline project with Russia.

Trump spoke Saturday in Tulsa, Oklahoma, in the first political rally he’s held since the coronavirus pandemic swept across the U.S.

“We’re supposed to protect Germany from Russia, but Germany is paying Russia billions of dollars for energy coming from a pipeline, brand new pipeline,” Trump said. “Excuse me, how does that work?”

The U.S. has pressured Germany to abandon the Nord Stream 2 pipeline, which is owned by Russia’s Gazprom PJSC, but has conceded it likely won’t be able to block it. The company is pressing ahead with construction.

Trump had earlier recalled a dispute with German Chancellor Angela Merkel over her country’s defense spending, urging her to meet the 2% target for members of the North Atlantic Treaty Organization.

“They’re delinquent, for many years they’re delinquent,” Trump said. “They say ‘yes, we think by 2030, maybe 2032, we could get current.’ I said ‘no, Angela, Angela please, don’t say that Angela.’ It’s true.”

He referred to Merkel as a “very good negotiator” but indicated he wants her to both raise defense spending and account retroactively for shortages in previous years.

“They forget about all the money that wasn’t paid, I said what about the trillion dollars that you really owe,” he said. “So, we’re negotiating. Let’s see.”

Merkel’s defense minister, Annegret Kramp-Karrenbauer, said in November that Germany wouldn’t meet the NATO benchmark until 2031 because of a lack of military personnel.

CNN Anchor Corners Trump Campaign Spox: Are Dead Americans ‘Funny to You?’

Justin Baragona The Daily Beast June 22, 2020


CNN anchor Brianna Keilar took Trump campaign communications director Tim Murtaugh to task on Monday, repeatedly pressing him to defend Team Trump’s claim that the president was just “kidding” when he claimed over the weekend that he asked his administration to slow down coronavirus testing.

During his sparsely attended Tulsa rally on Saturday night, President Donald Trump told his supporters that he called on officials to slow COVID-19 testing in order to decrease the number of confirmed cases in the country. A White House official later told The Daily Beast that Trump was “obviously kidding” and Trump aide Peter Navarro claimed on Sunday that the remarks were “tongue-in-cheek.”

In a contentious Monday interview that also featured the CNN anchor grilling Murtaugh on Trump’s recent use of the racist phrase “Kung Flu,” Keilar brought up Trump’s testing comments, asking whether it was true that Trump wanted to slow it down as America passes 120,000 COVID-19 deaths.

Even ‘Fox & Friends’ Isn’t Buying Kayleigh McEnany’s Spin on Tulsa Rally Crowd

“No, it’s not. As a matter of fact, the United States leads the world in testing,” Murtaugh replied, prompting Keilar to immediately wonder why Trump was saying that.

“I understand there’s not much of a sense of humor at CNN center,” Murtaugh sneered. ”But the president was joking. He tried to illustrate the point that when you expand testing, you will naturally expand the number of positive cases that you detect.”

“That was the very point he was making,” he continued. “I’m not surprised that you’re either unable or unwilling to understand the president had a tongue-in-cheek remark there. But that’s the point he’s making.”

Keilar, meanwhile, pointed out that there are now “120,000 Americans dead,” adding: “I do not think that is funny. Do you think that is funny?”

After Murtaugh reiterated the president was just trying to “illustrate the point” about expanded testing, the CNN anchor pointed out that he just said “it’s a joke.”

Stammering, the Trump spokesperson said that one can “use ironic humor” in these situations, prompting Keilar to again interject.

“Is dead Americans, is unemployed Americans, is that funny to you?” Keilar dryly noted.

“You can ask it 100 different ways,” Murtaugh retorted, causing the CNN host to fire back: “And you won’t answer it.”

The Trump flack would go on to repeat his talking points about the president making a factual point about increased testing resulting in more confirmed cases, leaving Keilar with the final word.

“You are aware that hospitalization numbers disprove what you are saying,” she proclaimed. “That testing does not solely account for the numbers we’re seeing, including in Florida, a state you just held up as a model when it certainly is not.”

“It is not funny that Americans are dying, she concluded as a stone-faced Murtaugh stood silent. “It’s not funny that they’re unemployed. Tim Murtaugh, thank you for coming on.”

U.S. officials to meet this week on Israel annexation plan
ISRAEL IS THE 51ST STATE OF THE USA THEY ARE A COLONIALIST POWER ANNEXING PALESTINIAN LANDS ILLEGALLY UNDER THE PROTECTION OF THE AMERICAN EMPIRE BUT FOR HOW MUCH LONGER?

Steve Holland and Matt Spetalnick Reuters June 22, 2020

WASHINGTON (Reuters) - U.S. officials will gather this week to discuss whether to give Israel a green light for its plan to annex Jewish settlements in the occupied West Bank, as Israeli Prime Minister Benjamin Netanyahu's target date of July 1 approaches.

A senior administration official said on Monday that the U.S. ambassador to Israel, David Friedman, will be in Washington to meet officials including Secretary of State Mike Pompeo, senior White House adviser Jared Kushner and Middle East envoy Avi Berkowitz. President Donald Trump could also join in.

Under Trump’s Middle East peace proposal, unveiled in January, it is envisaged that the United States would recognize the Jewish settlements - built on land that the Palestinians seek for a state - as part of Israel.

The proposal would create a Palestinian state as part of a broader peace plan, but impose strict conditions on it. Palestinian leaders have dismissed the initiative entirely.

Encouraged by Trump's push, Netanyahu has set July 1 as the date to launch his project of extending sovereignty over the settlements and the Jordan Valley, hoping for a green light from Washington. Most countries view Israel's settlements on occupied land as illegal, and Palestinian leaders have voiced outrage at the prospect of annexation.

"Ultimately, as the team approaches this thought of annexation, the main thing going through our heads is, 'Does this in fact help advance the cause of peace?' And therefore that is what will help drive a lot of the discussion," the official said.

LIMITED ANNEXATION FIRST?

Among the main options expected to be considered is a step-by-step process in which Israel would initially declare sovereignty over several settlements close to Jerusalem instead of the 30% of the West Bank envisaged in Netanyahu’s original plan, according to a person familiar with the matter.

The source said the Trump administration has not closed the door to a larger annexation, but fears that allowing Israel to move too fast could kill any hopes of eventually drawing the Palestinians to sit down to discuss Trump's peace plan.

There are also concerns about opposition to annexation from Jordan, one of only two countries that have a peace treaty with Israel, as well from Gulf states that have quietly expanded engagement with Israel in recent years.

Washington has also made clear it wants Israel’s unity government, which has been divided on the issue, to reach a consensus before going ahead with any actions, the source said. Defense Minister Benny Gantz, head of the Blue and White Party, has so far been reluctant to back Likud-leader Netanyahu’s plan.

Berkowitz has been fielding calls about the Trump plan from European and Arab nations, but the U.S. side has privately expressed frustration that they are not offering constructive ideas on how to amend it, a source familiar with the issue said.


(Reporting By Steve Holland and Matt Spetalnick; Editing by Kevin Liffey)

Canopy Growth sees $70B pot market by 2023, driven by U.S. legalization

Jeff Lagerquist Yahoo Finance Canada June 22, 2020

(GETTY) CANADIAN LEGAL OVER THE COUNTER 

OVER PACKAGED  POT THAT IS LESS POTENT 

THAN STREET POT

Canopy Growth (WEED.TO)(CGC) sees the addressable legal cannabis market expanding to nearly $70 billion globally by 2023, up from almost $10 billion today.

“Canada is expected to be about four times the size that it was in 2019. U.S. CBD, six times. In Germany, about 10 times . . . by the time we get to 2023,” Canopy’s chief executive officer David Klein said during the company’s virtual investor day on Monday. “Our goal is to hold a leading share position in each of these markets.”

Since taking over the CEO job in January, Klein has narrowed Canopy’s global focus to those three countries amid a sweeping overhaul of the cannabis giant. He sees growth in the company’s core markets reaching $22 billion by 2023, with $60 billion to be unlocked once cannabis sales are permissible under U.S. federal law.

He told Yahoo Finance Canada earlier this month that he expects that to happen in 2022, regardless of the outcome of the U.S. presidential election, allowing Canopy to enter the world’s largest pot market through its deal to acquire Acreage Holdings (ACRG-U.CN).

While shut out of selling THC cannabis stateside, Canopy has focused on building a consumer base through its CBD brand launched in late 2019 called First & Free, as well as sports drinks and skin care products through its BioSteel and This Works subsidiaries.

Klein said the U.S. CBD market is currently worth $3 billion annually, and is expected to hit $10B by 2023. He notes U.S. CBD is currently a “cluttered and confusing” space with more than 2,700 brands in the market, and 94 per cent of companies realizing sales of less than a million annually.

The U.S. Food and Drug Administration’s (FDA) ban on marketing the non-intoxicating cannabis compound as a food additive or dietary supplement has been a roadblock for the CBD category.

Klein said Canopy is acting as “a voice for our industry on Capitol Hill,” actively sharing CBD research with the FDA, and holding ongoing discussions with political leaders to see it classified as a dietary supplement.

Canopy plans to roll out 40 plus CBD products for the U.S. market spanning gummies, vapes and beverages. A line by Martha Stewart is expected in the fall, with a focus on humans, and later pets.

“Our aspirations in the U.S. CBD market is based upon our expectation that by full-year 2023 the market would be a $10 billion market at retail. The FDA would have clarified CBD regulations, opening a pathway to broader distribution and product formats, and we’d be on the way to becoming a leading CBD supplier to large format retailers,” Klein said.

Turning to Canada, Canopy recently saw its share of its home recreational market slip. Chief product officer Rade Kovacevic said Canopy still holds a top three market share position in most province and territories.

Klein said the company is taking steps to address the Smiths Falls, Ont.-based pot giant’s waning dominance.

The plan involves greater focus on the popular lower-priced cannabis category, improved quality, and promotion of its cannabis 2.0 offerings like beverages, vapes and chocolates. Canopy will also cull underperforming items from its portfolio.

“Roughly 30 per cent of our SKUs have accounted for 80 per cent of our Canada recreational shipments. Simply put, we had too many low-velocity SKUs through our supply chain taking away resources from executing on the supply of high-velocity SKUs,” said Kovacevic.

“We’ve missed opportunities to capture $20 million in sales in Q4 alone due to product availability issues.”

Newly hired chief insights officer Chris Edwards said Canopy is looking to those outside the current crop of cannabis consumers to fuel future growth. According to his figures over the last 12 months, only a quarter of the potential market has consumed cannabis, 37 per cent of which bought through legal channels.

“There are different barriers that need to be overcome to get them to consume our products,” he said. “Product innovation that doesn’t require inhalation is a huge opportunity. Our beverage portfolio has products with rapid onset and no calories and sugar.”

Canopy said it has shipped over 530,000 beverage units since the first products hit the Canadian market in the spring.

In the German medical market, Canopy expects 2023 sales of close to $2 billion. The company acquired German-based cannabinoid firm C3 in 2019 to tap into growing adoption of medical cannabis therapies in Europe’s largest medical market.

“There’s only a couple hundred million dollars in sales today,” Edwards said. “It’s going to be well north of a couple of billion dollars. So we’re very bullish on the German market long term.”

Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist.

Winnipeg plant gets $100M in federal financing to pull protein from peas (PULSE), canola (GMO)

ALL CAPITALISM IS STATE CAPITALISM

The Canadian Press June 22, 2020

OTTAWA — The federal government is helping finance an innovative, new agricultural production plant in Winnipeg that turns peas and canola into protein powders for the food industry.

Merit Functional Foods Corp. plans to have its new 94,000-square-foot production plant at Winnipeg's Centreport running by the end of the year.

There it will extract protein from peas and canola seeds for use in everything from pre-packaged protein shakes and meat-alternative foods to non-dairy creamers and energy bars.

The company intends to use only Canadian-grown peas and canola and claims to be the first in the world that will produce canola protein for the food industry.

Ottawa is contributing a total of $100 million, including a previously announced $9.2 million from the Protein Industries Supercluster.Loans of $25 million and $55 million are coming from Farm Credit Canada and Export Development Canada, while the AgriInnovate Program is contributing a $10-million repayable grant.

"This facility will be a world leader in plant-based proteins and will create good jobs in a fast-growing field," Prime Minister Justin Trudeau said Monday. "And by using 100 per cent Canadian inputs, it will also support farmers who produce the canola and yellow peas used in Merit's products."

Demand for plant-based proteins is soaring as people around the world seek to find meat alternatives in a bid to improve their health and that of the planet. Merit is seeking to make protein additives from peas and canola that taste better and have improved textures.

Merit signed a development agreement with Nestle in January to use Merit's pea and canola protein products in Nestle's food offerings.

The plant is expected to create 80 new jobs.

This report by The Canadian Press was first published June 22, 2020.

Fela Kuti and Afrika '70 - Zombie (1976) FULL ALBUM
Funk-infused political statement. Afrobeat. Artist: Fela and Afrika '70 Album: Zombie Label: Coconut Year: 1976