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☆ Oil spills and near misses: more ghost tankers ship sanctioned fuel
▼ + stars: | 2023-03-23 | by ( Jonathan Saul | ) www.reuters.com time to read: +9 min

REUTERS/Ronen ZvulunSummary Risk of accidents in focus as 'shadow' fleet growsStirs fears of oil spills, decades after Exxon ValdezHundreds of ships carry oil from sanctioned nationsMany ship certifiers and insurers have pulled servicesLONDON, March 23 (Reuters) - An oil tanker runs aground off eastern China, leaking fuel into the water. Many leading certification providers and engine makers that approve seaworthiness and safety have withdrawn their services from ships carrying oil from sanctioned Iran, Russia and Venezuela, as have a host of insurers, meaning there's less oversight of vessels carrying the flammable cargoes. Reuters was unable to independently verify the numbers regarding the size and growth of the shadow fleet. The U.S. Treasury didn't immediately respond to a request for comment on ships carrying sanctioned oil. SHIP-TO-SHIP TRANSFERSAround 774 tankers out of 2,296 in the overall global crude oil fleet are 15 years old or more, according to data provider VesselsValue.

☆ 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.

☆ Retailers Hope to Bargain for Lower Ocean-Freight Rates
▼ + stars: | 2023-02-14 | by ( Paul Berger | ) www.wsj.com time to read: +5 min

Richard Galanti, chief financial officer of Costco Wholesale Corp. , said lower freight rates should lead to price cuts at the members-only retailer, which imports more than 200,000 containers a year from Asia. An International Monetary Fund study found that when ocean-freight rates double it causes inflation to rise by 0.7 percentage point. Jonathan Ostry, a Georgetown University professor and a co-author of the study, said cutting shipping rates in half should reduce inflation by the same amount. In the ocean-shipping spot market, where importers book containers without a contract, rates have dropped to $1,000 on some trans-Pacific routes. But they say lower ocean shipping expenses will help in steadying prices.

☆ 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.

☆ Brazil making 'atypical' soy sales to Argentina, Anec says
▼ + stars: | 2023-01-12 | by ( Ana Mano | Roberto Samora | ) www.reuters.com time to read: +2 min

SAO PAULO (Reuters) -A Brazilian trade group representing global grain merchants on Thursday confirmed “atypical” sales of Brazilian soybeans to Argentina after rumors about unusual cargos being booked at this time of the year. FILE PHOTO: Soybeans are harvested at a farm in Porto Nacional, Tocantins state, Brazil March 24, 2018. Fernando Muraro, an analyst with AgRural, estimates Brazilian soy sales of 200,000 to 300,000 tonnes to Argentina for delivery in February and March. “They went up.”Crushing margins in Argentina rose by $10 per tonne in the beginning of January, to $30, making soy imports from Brazil an attractive option during the peak of Argentina’s soy inter-harvest period, Muraro added. Last year, the first Brazilian soy shipments to Argentina were recorded in April, for a batch of almost 49,000 tonnes, Brazil trade data show.

☆ 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.

☆ U.S. appeals court strikes down ban on bump stocks
▼ + stars: | 2023-01-07 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

REUTERS/George FreyJan 6 (Reuters) - A U.S. appeals court on Friday struck down a Trump administration rule banning bump stocks, which are devices that allow people to rapidly fire multiple rounds from semi-automatic guns. Circuit Court of Appeals in New Orleans said that despite "tremendous" public pressure to impose a ban, it was up to the U.S. Congress rather than the president to take action. Three other federal appeals courts have rejected challenges to the ban, and Friday's decision raises the prospect that the U.S. Supreme Court could eventually decide the issue. A bump stock lets a gun's stock, which rests against the shoulder, slide backward and forward, letting users take advantage of the gun's recoil to fire rapidly. Circuit Court of Appeals, No.

☆ ‘A Dangerous Business’ Review: Widow Out West
▼ + stars: | 2022-12-02 | by ( Joanne Kaufman | ) www.wsj.com time to read: +1 min

Eliza McCracken doesn’t want to marry Peter Cargill, the extravagantly well-mannered and apparently well-connected man her parents have foisted on her. But the year is 1849, and Eliza’s preferences matter not a whit. The McCrackens get their daughter nicely settled, or so they think; and Peter gets a servant and connubial rights in one tidy packet. This transaction propels the plot of Jane Smiley’s quirky historical novel “A Dangerous Business” and sets the table for the many transactions that follow. Fortunately for Eliza (and for the novel), Peter isn’t around long.

☆ Exclusive: Kazakh McDonald's shut outlets temporarily after halting supplies from Russia - sources
▼ + stars: | 2022-11-30 | by ( Mariya Gordeyeva | ) www.reuters.com time to read: +3 min

In a statement, the U.S.-based company said that its "licensee in Kazakhstan has temporarily closed all of its restaurants due to local supply issues. Food Solutions, the Kazakh licensee company, announced the closure on Nov. 17 and cited "local supply issues." After Russia invaded Ukraine in what Moscow calls a "special military operation", McDonald's exited Russia, selling all the restaurants it owned to a local licensee in May. It was unclear where the decision to ditch Russian suppliers originated. Marr Russia, one of the Kazakh company's Russian suppliers, said it never worked directly with McDonald's, dealing with its Kazakh logistics partner HAVI instead.

☆ Exclusive: Kazakh McDonald's shut outlets temporarily after halting supplies from Russia-sources
▼ + stars: | 2022-11-29 | by ( Mariya Gordeyeva | ) www.reuters.com time to read: +3 min

Joe LaPaille, a spokesperson for McDonald's Corporation based in the United States, said in an email: "Our McDonald's licensee in Kazakhstan has temporarily closed all of its restaurants due to local supply issues. Food Solutions, the Kazakh licensee company, announced the closure on Nov. 17 and cited "local supply issues." It was unclear where the decision to ditch Russian suppliers originated. Marr Russia, one of the Kazakh company's Russian suppliers, said it never worked directly with McDonald's, dealing with its Kazakh logistics partner HAVI instead. Miratorg said it was a supplier for Vkusno & Tochka, the Russian successor to McDonald's, and did not directly address the question of Kazakh sales.

☆ 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.

☆ Mexico not buying U.S. yellow corn as GM ban looms, Lopez Obrador says
▼ + stars: | 2022-11-09 | by ( Marianna Parraga | ) www.reuters.com time to read: +3 min

The United States wanted to sell Mexico more yellow corn and Mexico declined, Lopez Obrador said in a regular news conference. "There is a market for it, but the government cannot make a purchase because we do not want GM," Lopez Obrador said, citing a lack of scientific investigation into its effects. Lopez Obrador did not specify who made the request to sell more corn, the amount of the requested sale or the time frame. Mexico is ready to halve its U.S. imports of yellow corn when the decree goes into effect and is considering direct agreements with farmers to secure non-GM yellow corn imports, the country's deputy agriculture minister said in October. Chicago Board of Trade corn futures fell on Wednesday after the news, with the benchmark December contract down 6 cents a bushel at a two-month low of $6.61-1/2 a bushel.

The approvals could reshape global trade flows and result in fewer sales for farmers in the United States, the world's top corn supplier. China relied on the United States and Ukraine for most of its corn supplies but Russia's invasion of Ukraine has disrupted exports. He said in an interview the list of approved Brazilian facilities that can export corn to China may be updated to include more units in coming weeks. Once China starts buying corn from Brazil, traditional Brazilian corn importers such as Spain and Egypt could shift some of their purchases to the United States. Beijing and Brasilia had signed a protocol for exporting corn from Brazil to China in 2014 but little trade had happened due to complex inspection requirements.

☆ Can sustainable soya farming come fast enough to save the Cerrado?
▼ + stars: | 2022-10-18 | by ( Mark Hillsdon | Mark Hillsdon Is A Manchester-Based Freelance Writer Who Writes On Business | Sustainability For The Ethical Corporation | ) www.reuters.com time to read: +12 min

“Crop finance is a key part of soy farmers' business models and there is a huge appetite and market for green finance,” he explains. It’s a message consistent with the UK Soy Manifesto, which now covers 60% of the soy coming into the UK. Unlocking green investment means this can now happen, he adds, by supporting sustainable agriculture and protecting forests in a financially sustainable way that rewards farmers. And ultimately it is the involvement of these traders in screening out “bad soy” on which any sustainable soy scheme succeeds or fails. The Retail Soy Group’s roadmap commits members to deforestation-free soy with a cut-off-date of August 2020, but soy traders aren’t following these guidelines, says Wijeratna.

☆ Impossible Foods' new CEO is pining for a Super Bowl ad and status as a household name. First, he'll have to win over employees.
▼ + stars: | 2022-10-14 | by ( Alex Bitter | ) www.businessinsider.com time to read: +10 min

Peter McGuinness, Impossible Foods' new CEO, has said he wants a Super Bowl ad. "He's said 'Super Bowl ad' at least a thousand times," a current marketing employee said. But Super Bowl spots cost several million dollars each, putting them out of reach for Impossible, the employee said. Insider spoke with five current and former Impossible Foods employees about McGuinness' and Brown's leadership and the future of the company. Impossible Foods meatballs Impossible FoodsFrom R&D to marketingUnder Brown, Impossible was a company focused on research and development.

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.

☆ Factbox: U.S. companies gird themselves as Hurricane Ian makes landfall
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: +6 min

Sept 28 (Reuters) - Hurricane Ian makes landfall in Florida with Category 4 fury on Wednesday, pushing residents to empty grocery shelves, board up windows and rush to evacuation shelters. Since then, it has been working to redeploy offshore personnel after determining Hurricane Ian no longer posed a significant threat to its assets. A spokesperson said the company was monitoring the hurricane and making adjustments to operations to keep warehouse staff and drivers safe. Costco Wholesale Corp closed nine stores located in Florida due to an impact of Hurricane Ian. CRUISE OPERATORSWalt Disney Co's Disney Cruise Line on Tuesday canceled its Disney Wish ship that was to set sail from Florida on Friday.

☆ We got an exclusive look at the 9-slide pitch deck Innovafeed, an insect protein startup, used to raise $250 million
▼ + stars: | 2022-09-22 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +3 min

We got an exclusive look at the 9-slide pitch deck it used to secure the funding. A startup developing insect-based food for aqua-farming, pet food, and eventually humans just raised $250 million to ramp up production. "One of the products we replace in aqua-feed is fish meal," Ray said. "Fish meal is made of small fish caught in South America, in Africa, turned into a meal to feed other food production. Replacing fish meal with Innovafeed's product reduces the carbon footprint of salmon feed by 50%, the cofounder said.

Now it bustles with vessels loading up with coal, as Russia's invasion of Ukraine drives a worldwide race for the polluting fuel. The resurgent coal demand, driven by governments trying to wean themselves off Russian energy while keeping a lid on power prices, clashes with climate plans to shift away from the most polluting fossil fuel. Global seaborne thermal coal imports reached 97.8 million tonnes in July, the highest level on record and up more than 9% year-on-year, an analysis from ship broker Braemar shows. The bloc's ban on Russian coal imports has further increased pressure on electricity generators to find alternative sources of the fuel. Russia usually provides about 70% of the EU's thermal coal, according to the Brussels-based think-tank Bruegel, while it typically supplies 40% of the bloc's natural gas.

☆ Rail Shippers Brace for Potential National Strike
▼ + stars: | 2022-09-14 | by ( Paul Berger | ) www.wsj.com time to read: +6 min

Companies from food suppliers in the Midwest to retail importers across the U.S. are bracing for a potential national rail strike by seeking alternative transport to keep their supply chains running. Tens of thousands of American workers are on strike and thousands more are attempting to unionize. “We believe the potential for a rail work stoppage is growing,” Citi’s Christian Wetherbee wrote in a research note Wednesday. Other shippers will have to hold on to cargo if the rail network shuts down. U.S. railroads hauled more than 18,000 carloads of grains over the past week, according to the Association of American Railroads.

☆ 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

☆ Problemele lui Taras Barşciovschi vor avea repercusiuni asupra fabricii de suc „T.B Fruit” din Edineţ? Acesta ar avea datorii de 75 de mln de euro
▼ + stars: | 2020-08-20 | by ( Https | Www.Facebook.Com Unimedia.Info | Ion Ceban | ) unimedia.info time to read: +2 min

Curtea Supremă de Justiţie a Ucrainei a adoptat o decizie irevocabilă, prin care Taras Barşciovschi este declarat oficial dator cu 75 de milioane de euro. Banii ar fi fost scoşi din bancă de către unul din coproprietari – „Cargill”, prin intermediul a două întreprinderi ale lui Taras Barşciovschi – „Яблуневий дар” şi „Танк Транс”, ambele figurând în dosarul penal de nerambursare a creditelor. Sursa mai notează că datoriile lui Taras Barşciovschi ar fi fost cumpărate de către colectorii de la compania financiară „Investohills Vesta”. Iarăşi, proteste, iarăşi cerinţe ca statul să vină cu despăgubiri?”, scrie autorul. Şi la „Banca de Economii” totul „era bine” până când nu au apărut dovezi clare că nu e chiar bine.

Persons: Taras, Cargill, Taras Barşciovschi, . Autorul Organizations: Supremă, Delta Bank Locations: Justiţie, Ucrainei, Barşciovschi, Delta, Ucraina, Polonia, Economii

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