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US and UK lawmakers are rallying against an IPO by the world's largest meatpacker, JBS. Brazil says two-thirds of Amazon deforestation comes from converting land into pastures for livestock. Trading on the world's largest exchange would give JBS access to more capital and enhance its credibility. "The company has made repeated claims that it will eliminate deforestation but has not taken meaningful steps to do so." Two-thirds of Amazon deforestation results from conversion to pasture for livestock, according to the Brazilian government.
Persons: JBS Organizations: Service, Securities and Exchange Commission, New York Stock Exchange, New, U.S, Democrats, Republicans, SEC, NYSE, JBS S.A Locations: Brazil, United States, United Kingdom, New York
WASHINGTON, Nov 29 (Reuters) - The U.S. Department of Agriculture said on Tuesday it will extend for up to 90 days a trial program that allows six U.S. pork plants to operate faster processing-line speeds while collecting data on how the speeds affect meatpacking workers. Some activist groups like Food & Water Watch had opposed the program as a risk to food safety. A judge in 2021 invalidated that rule after the United Food and Commercial Workers (UFCW) union, which represents many meatpacking workers, sued the USDA over worker safety concerns. Plants in the trial were also assigned to collect data on how line speeds affect workers and share it with the U.S. Occupational Safety and Health Administration. Reporting by Tom Polansek in Chicago and Leah Douglas in Washington; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.
Persons: Tyson, JBS's, UFCW, Tom Polansek, Leah Douglas, Bernadette Baum Organizations: U.S . Department of Agriculture, Tyson, JBS SA, Water Watch, JBS's Swift Pork Company, Companies, United Food, Commercial Workers, U.S . Occupational Safety, Health Administration, U.S . Senate, Thomson Locations: Nebraska, Illinois, U.S, Chicago, Washington
Meatpacker JBS's plunging profit beats forecasts
  + stars: | 2022-11-10 | by ( ) www.reuters.com   time to read: 1 min
SAO PAULO, Nov 10 (Reuters) - Brazil's JBS SA (JBSS3.SA), the world's largest meat producer, on Thursday reported a quarterly profit that plunged 47.1%, nevertheless beating analysts' estimates as higher revenues helped offset rising costs. The company posted a third-quarter net profit of 4.01 billion reais ($745.35 million), while analysts polled by Refinitiv had expected it to land at 3.75 billion reais. ($1 = 5.3800 reais)Reporting by Nayara Figueiredo; Writing by Peter FrontiniOur Standards: The Thomson Reuters Trust Principles.
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