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(JBSs.infoinvest.com.br)
Livestock, Reuters

JBS beats estimates, refinances bank debt

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Reading Time: < 1 minute Sao Paulo | Reuters — Brazil’s JBS SA, the world’s largest meatpacking company, beat analysts’ estimates for the first quarter and closed a deal to refinance the bulk of its bank debt on Monday. JBS’ net income for the first quarter, 506 million reais (C$179.45 million), was 48 per cent above analysts’ estimates, with higher […] Read more
(JBSsa.com)
Livestock, Reuters

JBS still keen on U.S. IPO despite scandals

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Reading Time: 2 minutes Sao Paulo | Reuters — JBS SA, the world’s largest meatpacking firm, remains intent on a stock market listing of subsidiary JBS Foods International in the U.S. despite corruption and food safety scandals, executives said on Thursday. In April all of JBS operations will meet U.S. auditing and compliance requirements under the Sarbanes-Oxley Act, JBS […] Read more
A crenellated walkway on top of the Great Wall of China. (Cia.gov)
Hogs, Livestock, Reuters

U.S. pork to feel further chill from China tariff threat

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Reading Time: 2 minutes Beijing/Chicago | Reuters — China’s threat of steep tariffs on U.S. pork imports knocked down U.S. hog futures prices and shares of producers on Friday, while increasing fears of hard times for farmers already facing weaker demand from the world’s top buyer of the meat. U.S. farmers have worried for months that rising trade tensions […] Read more
(JBSS.infoinvest.com.br)
Livestock, Reuters

Ex-JBS chairman released from jail

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Reading Time: < 1 minute Brasilia | Reuters — A Brazilian federal court on Friday granted the release from jail of Joesley Batista, former chairman of the world’s biggest meatpacker, JBS SA, according to court documents. Joesley Batista, who steered JBS from a Brazilian beef processing firm to a global food conglomerate with major U.S. operations, was expected to be […] Read more
(JBSs.infoinvest.com.br)
Finishers, Livestock

JBS to shed U.S. feedlot chain

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Reading Time: 2 minutes The remaining feedlots in meat packing giant JBS’s Five Rivers Cattle Feeding business, the world’s biggest cattle feeding operation, have found a buyer. JBS on Wednesday announced a deal to sell the U.S.-based assets of Five Rivers to affiliates of New York-based Pinnacle Asset Management for about US$200 million. The deal gives Pinnacle 11 feedlots […] Read more
(JBSs.infoinvest.com.br)
Livestock, Reuters

Brazil police serving warrants linked to JBS tax probe

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Reading Time: < 1 minute Sao Paulo | Reuters — Brazil’s federal police are serving 14 search warrants on Monday in connection with a bribery probe implicating meatpacker JBS SA and tax authorities, they said in a statement. The raids are based on plea bargain testimony by JBS executives who suggested that 160 million reais (C$62 million) in bribes were […] Read more
(JBSsa.com)
Beef Cattle, Livestock, Reuters

JBS says listing of U.S. unit remains priority

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Reading Time: 2 minutes Sao Paulo | Reuters — Brazilian meatpacker JBS SA said listing a subsidiary in the U.S. remained a priority, even as two controlling shareholders in the company remain in jail for insider trading and their role in a corruption scandal. The long-planned initial public offering of its processed food subsidiary JBS Foods International BV was […] Read more
(JBSs.infoinvest.com.br)
Beef Cattle, Livestock, Reuters

Brazil court unfreezes JBS owners’ assets

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Reading Time: < 1 minute Brasilia | Reuters –– A Brazilian federal appeals court on Thursday granted an injunction releasing assets belonging to the Batista brothers, owners of the world’s largest meatpacker JBS SA, Ticiano Figueiredo, a lawyer representing the defendants, said. A spokeswoman at the appeals court did not immediately reply to a request for comment. On Oct. 6, […] Read more
(JBSS.infoinvest.com.br)
Beef Cattle, Livestock, Reuters

JBS shuts seven plants in Brazil after asset freeze

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Reading Time: 2 minutes Sao Paulo | Reuters — Brazilian meatpacker JBS SA shut down seven slaughterhouses in Mato Grosso do Sul after a court-ordered asset freeze affected its operations in Brazil’s second largest cattle-producing state, a press representative said on Wednesday. The world’s largest meatpacking company said in an emailed statement that the plants would stay closed until […] Read more

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