ENVIRONMENT

Monsanto Settles Lawsuit: The St. Louis-based chemicals and food additives company said it has agreed to settle a lawsuit against 37 insurance companies over the cleanup of several hazardous-waste sites. Monsanto Co. said the proposed settlement resolves a 1988 suit and a series of related disputes between the company and its insurers. The agreement, for an undisclosed amount, should improve Monsanto’s earnings in the third quarter ending Sept. 30. However, company spokeswoman Scarlett Lee Foster said any gains from the settlement might be offset by one-time costs in the third quarter, including a payment of $41.1 million as part of a settlement with International Technology Corp. of Torrance.