DIRS.INFO The most relevant business & tech news

A group of poultry producers, including the world’s largest, have asked a federal judge to dismiss his ruling that they polluted an Oklahoma watershed. Arkansas-based Tyson Foods, Minnesota-based Cargill Inc. and the others say in a motion filed Thursday that evidence in the case is now more than 13 years old. A spokesperson for Oklahoma Attorney General Gentner Drummond did not immediately return a phone call for comment Saturday. “The Court’s findings and conclusions rest upon a record compiled in 2005–2009,” the poultry companies' motion stated. Attorneys for the companies and the state attorney general each said in Thursday filings that mediation had failed.

Persons: Tyson, Judge Gregory Frizzell, Gentner Drummond, Frizzell, ” Frizzell, Cobb Organizations: Tyson Foods, Cargill Inc, U.S, Oklahoma, Tulsa, Cal, Maine Foods Inc, Tyson Poultry Inc, Tyson Chicken Inc, Vantress, Cargill, George’s Inc, George’s, Inc, Peterson Farms Inc, Simmons Foods Inc Locations: Oklahoma, Arkansas, Tyson Foods , Minnesota, Tulsa, Illinois, Cargill Turkey

☆ 'Real' meat maker Cargill may emerge big winner in plant-based food as buzzy startup boom fades
▼ + stars: | 2023-06-17 | by ( Bob Woods | ) www.cnbc.com time to read: +12 min

Additionally, Cargill began marketing several plant-based protein ingredients, made from soy, pea and wheat, to food and beverage manufacturers worldwide. What to expect for plant-based meat in next decade Cargill's calculated approach to plant-based meats coincides with the nascent industry's trajectory. And then there's the consumer's appetite to pay a premium price for plant-based meat. So Cargill's biggest competition will be the established plant-based meat companies, like Beyond and Impossible, he said. The future of plant-based meat might be analogous to the ongoing transition to electric vehicles.

Persons: Florian Schattenmann, Cargill Cargill, Cargill, Schattenmann, it's, John Baumgartner, Baumgartner, Caroline Bushnell, Bushnell, that's, Seth Goldstein, Goldstein, Tyson's Organizations: Cargill, Foods, Tyson Foods, Hormel Foods, Smithfield Foods, Cargill Inc, The, Bloomberg, Getty, Foods Cargill, Mizuho Securities USA, Good Food Institute, Cubiq Foods, FDA, North, Food and Drug Administration, Morningstar Research Services, Nielsen, annualized Nielsen, Nestle, Tesla, tiptoed, Ford, GM, Hyundai, Volkswagen Locations: U.S, Minneapolis, Montreal, Quebec, Canada, Spanish, Berkeley , California, Puris, North American, Netherlands, Bflike, Belgian, North America

Bloomberg News had reported on May 25 that Bunge and Viterra were in talks to combine, without providing details on the deal's terms and timing. Acquiring Viterra would bring Bunge revenue's revenues -- $67.2 billion in 2022 -- in line with Archer-Daniels-Midland, which registered sales of nearly $102 billion last year. In early 2017, Viterra, then known as Glencore Agriculture, attempted a takeover of Bunge, which was then valued at $11 billion. In May 2017, Bunge rebuffed Glencore after the latter made an informal approach to discuss "a possible consensual business combination." Viterra expanded its business of buying and selling grain in the United States through its $1.1 billion acquisition of Gavilon last year.

Persons: Bunge, Greg Heckman, Privately, Viterra, Archer, Louis Dreyfus Co, Glencore, Abigail Summerville, Anirban Sen, Jonathan Oatis Organizations: YORK, Bunge Ltd, Glencore Plc, Canada, Plan Investment Board, Columbia Investment Management Corp, Bloomberg News, Daniels, Midland Co, Cargill Inc, Bunge, Midland, Agriculture, Thomson Locations: Ukraine, Glencore, Brazil, Viterra, United States, Gavilon, New

☆ Shrinking US cattle herd squeezes meatpacker profits
▼ + stars: | 2023-05-04 | by ( Tom Polansek | ) www.reuters.com time to read: +5 min

Cargill, the world's largest ground beef producer, expects cattle prices will rise further, but it is still a question whether higher beef prices will ruin consumers' appetites, company executives said. Big profits for meatpackers during the pandemic and soaring beef prices fueled concerns in the Biden administration about consolidation and profiteering in the sector. The companies say supply and demand determine cattle and beef prices. In 2023, "the cattle feeder can negotiate more of the consumer dollar," said Brett Gottsch, managing partner Gottsch Cattle Co, which raises cattle in Nebraska. Gottsch remains concerned about a lack of competition among meatpackers, though others said surging cattle prices show the market works.

☆ US meatpacker JBS opens cleaning unit after outside firm fined for hiring kids
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +2 min

The new company, JBS Sanitation, will "immediately begin the transition" to cleaning 10 JBS USA facilities, which produce beef and pork, according to a statement issued this week. JBS Sanitation will also do in-house cleaning for Pilgrim's Pride Corp (PPC.O) and create "hundreds of union jobs," the statement said. JBS USA is the North American unit of Brazil's JBS SA (JBSS3.SA), which also owns most of Pilgrim's Pride. JBS USA did not immediately respond to questions about the costs of the launch on Thursday. JBS USA previously said it terminated contracts with PSSI at "numerous" facilities, including three plants where alleged child-labor violations occurred.

Bunge reaffirmed its full-year 2023 outlook of adjusted earnings of $11 per share, citing likely weaker results from its Agribusiness and Milling divisions but improved profits in its Refined and Specialty Oils unit. Bunge and other supply chain middlemen, including Archer-Daniels-Midland Co (ADM.N) and Cargill Inc (CARG.UL), have generally benefited from strong global crop demand and tightening supplies, with record profits last year. The worst drought in decades has slashed grain and soy harvests in Argentina, depriving Bunge of the crops it needs to process. First-quarter adjusted profit in Bunge's Agribusiness unit, its largest in terms of revenue and volumes, dropped 18% on the year. Bunge said results were strong in all regions in its Refined and Specialty Oils division, with notable strength in North America and South America, reflecting favorable food and fuel demand trends.

The timeline shows the challenges of quickly finding and implementing replacements for Packers Sanitation Services Inc (PSSI), which provides cleaning services at slaughterhouses. "We made the decision to terminate the agreements with PSSI," Hans Kabat, who leads Cargill's protein business in North America, told Reuters. Cargill said it notified PSSI in March that it was terminating services at a beef plant in Dodge City, Kansas, and then followed with all PSSI's sanitation contracts. One of the largest penalties stemmed from PSSI's contracts at Cargill's plant in Dodge City. Cargill, the world's largest ground beef producer, is reviewing options for cleaning plants, Kabat said.

Most international grain traders have stopped new investment in Russia since last year following Moscow's invasion of Ukraine but continued exporting Russian wheat. "As grain export-related challenges continue to mount, Cargill will stop elevating Russian grain for export in July 2023 after the completion of the 2022-2023 season," the company said in an emailed statement. "The cessation of its export activities on the Russian market will not affect the volume of domestic grain shipments abroad. The company's grain export assets will continue to operate regardless of who manages them," the agriculture ministry told Reuters. According to RBC business daily, Cargill will export 2.2 million tonnes of Russian grain in the 2022-23 exporting season, or around 4% of Russia's total grain exports.

☆ More than 100 children worked in dangerous conditions at slaughterhouse cleaning firm: US Labor Department
▼ + stars: | 2023-02-17 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

The Kieler, Wisconsin, based company employed the children to clean meat processing equipment including back saws, brisket saws and head splitters. The company said none of the underage workers are employed at the company today, and that “many” of them had worked there years ago. In November, a complaint was filed in the US District Court of Nebraska alleging that Packers Sanitation illegally employed at least 31 children to clean dangerous power equipment. A federal judge issued a temporary restraining order barring the company from committing further child labor law violations. In December, Packers agreed to take “significant steps” to comply with labor laws after entering into a consent order and judgment.

☆ Grain trader ADM hikes dividend as quarterly profit tops estimate
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +1 min

Jan 26 (Reuters) - Archer-Daniels-Midland Co (ADM.N) on Thursday reported upbeat fourth-quarter profit and said it will raise its dividend payments, as the global grains merchant benefited from tight global supply and hefty demand for grain and oilseeds. The strong quarterly performance followed record third-quarter earnings as tight supply and strong demand for food, feed and biofuel propelled results for the Chicago-based agribusiness. Supply chain middlemen such as ADM tend to thrive when crises such as droughts or war trigger shortages in parts of the world. It also raised its quarterly dividend by 12.5% to 45 cents. Reporting by Sourasis Bose in Bengaluru and Karl Plume in Chicago; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ EY Hires Cargill CFO to Manage Finances of Consulting Spinoff
▼ + stars: | 2023-01-10 | by ( Mark Maurer | ) www.wsj.com time to read: +3 min

Ernst & Young recruited Jamie Miller, the departing chief financial officer of Cargill Inc., to lead the finances of its consulting arm, which the Big Four accounting firm is spinning off. Cargill on Monday said Ms. Miller plans to step down from the Minnesota-based agricultural company on Friday. To carry out the split, EY is looking to raise roughly $11 billion in equity and $18 billion in debt. The new consulting firm could struggle to establish itself amid strong competition and a slowing economy, researchers have said. Newsletter Sign-up WSJ | CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team.

☆ Cargill CFO Resigns as Company Reshuffles Leadership
▼ + stars: | 2023-01-10 | by ( Kristin Broughton | ) www.wsj.com time to read: +3 min

Cargill Inc. said its chief financial officer, Jamie Miller, is stepping down for another opportunity as the agricultural giant reshuffles its executive leadership. Ms. Miller will leave Cargill on Jan. 13, the Minneapolis-based company said on Monday. Jamie Miller, chief financial officer of Cargill, is set to leave the company on Jan. 13. Photo: CargillCargill has begun an external and internal search for Ms. Miller’s successor, according to a spokeswoman. The spokeswoman said Ms. Miller is leaving Cargill for a job on the East Coast and to be closer to family.

☆ Cargill Chief Financial Officer Jamie Miller Resigns
▼ + stars: | 2023-01-09 | by ( Colin Kellaher | ) www.wsj.com time to read: 1 min

Cargill Inc. on Monday said Jamie Miller is stepping down as chief financial officer of the agribusiness giant after about a year and a half on the job to accept another opportunity. Jamie Miller, CFO of Cargill, is set to leave Jan. 13. Photo: CargillMs. Miller, who served as General Electric Co. ’s chief financial officer from November 2017 to February 2020, joined Cargill in June 2021 as senior vice president and chief financial officer, and was named head of corporate strategy last April. Cargill said Ms. Miller, a member of its executive team, is leaving on Jan. 13. The Minneapolis company said Joanne Knight, currently vice president of finance for its agriculture supply-chain enterprise, will serve as acting finance chief.

☆ Cargill Names Brian Sikes as Chief Executive
▼ + stars: | 2022-11-21 | by ( Patrick Thomas | ) www.wsj.com time to read: 1 min

Brian Sikes is set to become the 10th CEO in Cargill’s 157-year history. Agriculture giant Cargill Inc. said its Chief Operating Officer Brian Sikes will take over as chief executive of the Minnesota-based company at the start of 2023. Cargill’s current CEO, David MacLennan , will on Jan. 1 take over the role of executive chair of Cargill’s board ahead of the company’s customary retirement age of 65; Mr. MacLennan is 63. Mr. Sikes, 54 years old and a 31-year company veteran, will become the 10th CEO in Cargill’s 157-year history.

The order should also prohibit firms related to "unfriendly" states from owning Russian companies involved in grain loading capacity in ports, and grain storage, he said. VTB owns stakes in a number of major Russian grain export hubs in the Black Sea. Russian grain market players should still be allowed to sell grain to international traders for export on a free-on-board basis, which includes delivery to the final destination, the letter said. "But the main idea is to strengthen the position of Russian traders on the global market, not to prohibit anyone from doing anything," the source said. According to one grain trader, the government is expected to prepare its response to VTB's proposal by Sept. 30.

☆ Statele UE vor permite utilizarea proteinelor obţinute din insecte ca nutreţ pentru păsări şi porci
▼ + stars: | 2021-06-23 | by ( ) www.jurnal.md time to read: +3 min

Sursa foto: AFPStatele UE vor permite utilizarea proteinelor obţinute din insecte ca nutreţ pentru păsări şi porciUniunea Europeană urmează să permită utilizarea proteinelor obţinute din insecte ca nutreţ pentru păsări şi porci, o decizie care ar putea da un impuls semnificativ unei industrii care se află într-un stadiu incipient. Statele membre ale blocului comunitar au aprobat această propunere, a confirmat miercuri un purtător de cuvânt al Comisiei Europene. Potrivit Comisiei Europene, modificările vor permite de asemenea şi ca unele proteine animale procesate să fie folosite ca nutreţ pentru hrana păsărilor şi porcilor. Europa este un lider în ceea ce priveşte start-up-urile concentrate pe creşterea insectelor, după ce a inclus insectele pe lista alimentelor sustenabile. Autorităţile europene au alocat fonduri pentru cercetare şi facilităţi de producţie, iar blocul comunitar permite deja folosirea insectelor pentru hrana peştilor, câinilor şi pisicilor.

Persons: Cargill Organizations: Uniunea Europeană, Europene, Parlamentul, Consiliul, Autoritatea Europeană Locations: UE, Statele, SA, Europei, Europa

☆ Autoritatea Europeană pentru Siguranţa Alimentară şi-a dat acordul pentru consumul de insecte
▼ + stars: | 2021-01-13 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +2 min

Insectele devin o sursă mai sustenabilă de proteine graţie impactului lor mai mic asupra mediului şi valorii nutriţionale ridicate, atrăgând finanţare din partea fondurilor de investiţii şi atenţia unor giganţi din industria alimentară precum Cargill Inc. şi Nestle SA. "Ajută la crearea unei noi surse de proteine pentru întreaga lume, în mod sustenabil. Suntem foarte mulţumiţi de valoarea nutriţională", a declarat Helene Ziv, manager de risc la Cargill.Aceasta este prima evaluare a EFSA cu privire la riscul insectelor ca nou produs alimentar, în condiţiile în care Autoritatea mai are alte 14 solicitări în analiză pentru insecte, de la greieri la lăcuste. Aprobarea emisă pentru viermele de făină oferă oportunităţi de marketing, susţine Andrea Germini, şef de echipă la EFSA.Europa este un lider în ceea ce priveşte start-up-urile concentrate pe creşterea insectelor, după ce a inclus insectele pe lista alimentelor sustenabile. Aproximativ 2.000 de specii de insecte sunt folosite în dieta a aproximativ două miliarde de persoane din întreaga lume, însă mulţi consumatori din Europa vor trebui să depăşească, ceea ce Niccolo Manzoni, director la firma franceză Five Seasons Ventures, numeşte "ick factor" (senzaţie de repulsie n.r.

Persons: Cargill, Helene, Andrea Germini, Niccolo Organizations: UE, Five, Ventures Locations: SA, EFSA.Europa, Finlanda, Belgia, Olanda, Europa, numeşte

Search resuls for: "Cargill Inc"

17 mentions found