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Food Safety News

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Joesley Batista

Exotix says JBS weathered the crisis; public offering possible

The Chinese symbol for crisis is made up of symbols for both danger and opportunity. And the Brazilian meat packing giant JBS S.A. has certainly been in a crisis during most of 2017, but an investment banker with expertise in emerging markets says there is an opportunity now in JBS, especially in acquiring its bonds…. Continue Reading

U.S. stops imports of Brazilian beef for food safety concerns

The U.S. Department of Agriculture has suspended imports of all fresh beef from Brazil because of recurring food safety problems documented since March, when the agency began inspecting 100 percent of all meat from the South American country. During his confirmation hearing 12 weeks ago, Agriculture Secretary Sonny Perdue said he thought an embargo against… Continue Reading

U.S. cattlemen see opportunity to reopen JBS anti-trust issue

Some U.S. cattle ranchers are seeing an opportunity in the way JBS Corp. has gotten itself tied up in Brazil’s political scandal. JBS USA is the wholly owned subsdiary of JBS S.A., the Brazilian corporation that is the world’s largest fresh beef and pork processor with sales of $52.3 billion in 2016, The cattlemen are… Continue Reading

Batistas agree to pay largest ‘leniency fine’ in Brazil’s history

Beef bribery scandal reached highest elected officials in Brazilian government

Beef brothers Joesley and Wesley Batista appear to be surviving the scandal that may bring down Brazilian President Michel Temer.  Shareholder challenges and reviews by U.S. regulators could still be ahead for the meatpackers in the near future. However, their J&F Investments, the largest shareholder of worldwide meatpacker JBS SA, has agreed to pay a $3.2 billion… Continue Reading

Presidential bribes likely to slow JBS USA’s independence day

When Federal Police in Brazil moved on several meatpacking plants on March 17, where meat inspectors were suspected of being on the take, no one could have predicted the probe would shortly be felt as far away as Northern Colorado and other North American locations with JBS USA facilities. But that’s where it’s landed, after two… Continue Reading