GM giant Monsanto backs off

Monsanto, the huge American biotechnology company which has pioneered GM crops, is withdrawing from many of its European operations and laying off up to two-thirds of its British workers.

The announcement came on the eve of the publication of the British Government's GM crop trials, which are expected to show that two out of three genetically modified crops in the tests may damage the environment. An industry insider said the international biotechnology business was becoming disillusioned with Europe's anti-GM stance.

"If there's no market for something, you go elsewhere," he said. "The big companies are looking to China, Southeast Asia and South America."