Sao Paulo | Reuters — Shareholders in JBS SA on Friday cleared the way for the Brazilian food processor to sue its own controlling stakeholders and certain former managers, a rare victory for shareholder activism in Latin America’s largest economy. The vote was a win for JBS’s top minority shareholder, national development bank BNDES, which […] Read more
JBS to seek damages from founders
Brazil shareholder vote a win for Brazil's BNDES
JBS to resume U.S. share listing plan after COVID-19 fallout
Management looking also for US$100 million in cost cuts
Sao Paulo | Reuters — Brazil’s JBS SA is reviving plans to list shares on Wall Street after dealing with the COVID-19 pandemic’s fallout, CEO Gilberto Tomazoni said on Friday, as the world’s largest meatpacker reported strong quarterly results. Speaking on a conference call with analysts following the company’s second-quarter results, Tomazoni said the focus […] Read more
JBS invests $19-million in safety measures amid COVID-19 pandemic
Sao Paulo | Reuters –Brazilian food processor JBS SA has invested more than 100 million reais ($19.3 million) in health, safety and contingency measures at all its Brazilian production units, according to a Wednesday company statement that comes as the novel coronavirus continues to ravage local meat plants. The company said the funds were invested […] Read more
JBS sees steady trade flows but flags export woes
Sao Paulo | Reuters — Brazil’s JBS, the world’s largest meatpacker, has said the COVID-19 coronavirus epidemic could cause container shortages, port disruptions and other logistics issues, but said trade flows should stay strong thanks to Chinese demand. In a conference call to discuss earnings results on Thursday, JBS executives said its export operations had […] Read more
Dreyfus to cut costs amid trade jitters, swine fever
Sao Paulo | Reuters — Agricultural commodities giant Louis Dreyfus Co. (LDC) has launched a cost-cutting and reorganization drive in the face of difficulties confronting global trading houses, according to an internal memo seen by Reuters on Wednesday. LDC confirmed the memo’s authenticity in a statement, saying the company aimed to optimize its cost base […] Read more
Brazil gets approval for 13 meatpacking plants for China exports
Sao Paulo | Brazil | Reuters – Chinese authorities approved new Brazilian meat exporting plants on Tuesday, according to the Brazilian agriculture ministry, a highly anticipated move as the two nations continue to strengthen trade ties. The approvals come as China seeks to increase meat imports to compensate for the death of around half of […] Read more
Brazil’s JBS says it uses satellites to monitor cattle suppliers
Sao Paulo | Reuters — The world’s largest meatpacker JBS SA is closely monitoring the origin of the cattle it buys in Brazil amid heightened concerns about environmental preservation and sustainable business practices, its CEO said Wednesday. Speaking at an industry event in Sao Paulo, JBS CEO Gilberto Tomazoni said the company is using satellite […] Read more
Brazil halts beef exports to China after atypical BSE case
Sao Paulo | Reuters — Brazil has temporarily halted beef exports to China following an atypical case of BSE in leading farm state Mato Grosso, the agriculture ministry said on Monday. China, Brazil’s largest beef importer by sales, spent US$1.5 billion on Brazilian beef last year, totaling 322,400 tonnes or almost 20 per cent of […] Read more
Brazil grain growers launch hotline to report Bayer’s market practices
Concerns remain in the aftermath of Bayer’s purchase of rival Monsanto
Sao Paulo | Reuters – A Brazilian grain growers association has launched a hotline to encourage farmers to report practices on the part of Germany’s Bayer SA that potentially could be anti-competitive, according to a statement sent to Reuters April 23. Aprosoja Brasil, which called the initiative “an awareness campaign,” aims to galvanize farmers to […] Read more
JBS predicts profits will be stronger this year
Sao Paulo | Reuters — JBS SA executives said Friday the Brazilian meat company will deliver higher earnings in 2019 on strong demand for beef in the U.S. and Australia as well as growing Chinese demand for various proteins. Still, first-quarter results will reflect lower cattle availability in the U.S. due to rains and a […] Read more
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