Shares of meatpacking giant JBS fall in debut on the NYSE
Trading in New York has been a long-held goal for JBS, which was founded 72 years ago and is now one of the world's largest meat companies. Half of its annual revenue comes from the U.S., where it has more than 72,000 employees. JBS is America's top beef producer and its second-largest producer of poultry and pork.
JBS's minority shareholders voted last month to approve the company's plan to list its shares both in Sao Paulo and New York, casting aside opposition from environmental groups, U.S. lawmakers and others who noted JBS' record of corruption, monopolistic behavior and environmental destruction.
JBS said a dual listing would give it broader access to investors and more competitive interest rates, which would help it finance its growth. It has also said a U.S. listing would subject it to more oversight from regulators. The U.S. Securities and Exchange Commission approved JBS's planned listing last month.
Still, the proposed listing has received significant pushback. Earlier this week, Mighty Earth, an environmental group, said it sent a letter to the NYSE board urging it to decline the listing. Mighty Earth contends that JBS is illegally profiting from deforested land in Brazil.
Glass Lewis, an influential independent investor advisory firm, was also among those recommending that JBS's shareholders reject the planned listing.
In its report, Glass Lewis said the recent return of brothers Joesley and Wesley Batista to the JBS board should concern investors. The brothers, who are the sons of JBS' founder, were briefly jailed in Brazil in 2017 on bribery and corruption charges.
Glass Lewis also objected to the company's plan for dual share classes, which give the Batistas and other controlling shareholders more voting power.
JBS said the outcome showed shareholders were confident in the benefits a dual listing would bring.
__
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
an hour ago
- Globe and Mail
Faraday Future's Q2 2025: Strategic Growth and Market Expansion
Faraday Future Intelligent Electric Inc. ( (FFAI)) has released its Q2 earnings. Here is a breakdown of the information Faraday Future Intelligent Electric Inc. presented to its investors. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Faraday Future Intelligent Electric Inc., a California-based company, is a global leader in the intelligent electric mobility ecosystem, focusing on luxury and innovative electric vehicles. In its second quarter of 2025, Faraday Future reported an adjusted operating loss of $27.4 million, with a significant cash position increase and strengthened operational efficiency. The company achieved a milestone by being added to the Russell 3000 Index, enhancing its market visibility, and saw substantial investment increases from major fund managers like Vanguard and BlackRock. Key financial highlights include a net loss from operations of $48.1 million, an improvement from the previous year, and a substantial increase in financing cash inflow, marking the fifth consecutive quarter where inflows exceeded outflows. Faraday Future also announced strategic developments, including the launch of the FX Super One vehicle and the introduction of the 'EAI + Crypto' ecosystem strategy, aimed at integrating traditional operations with digital platforms. The company received over 10,000 non-binding pre-orders for its FX Super One vehicle, indicating strong market demand. Production preparations for this model are underway at the Hanford, CA factory. Additionally, Faraday Future plans to invest $100 million into its U.S. operations, focusing on research, development, and infrastructure. Looking forward, Faraday Future aims to continue driving technological innovation and maintaining financial discipline. The company expects to meet its production targets for the FX Super One by the end of the year, both in the U.S. and the Middle East, while executing its strategic goals to regain investor confidence and ensure long-term growth in the electric vehicle market.
Globe and Mail
an hour ago
- Globe and Mail
Canadian Natural Resources Reports Strong Q2 2025 Results
Canadian Natural Resources ( (CNQ)) has released its Q2 earnings. Here is a breakdown of the information Canadian Natural Resources presented to its investors. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Canadian Natural Resources Limited is a prominent player in the oil and gas sector, known for its extensive operations in oil sands mining, upgrading, and conventional oil and gas production, primarily based in Canada with some international exposure. In its second quarter of 2025, Canadian Natural Resources reported robust financial performance, driven by strategic acquisitions and efficient operations. The company highlighted its successful completion of a planned turnaround at the Athabasca Oil Sands Project ahead of schedule, alongside strong production and upgrader utilization rates. Key financial metrics for the quarter included net earnings of approximately $2.5 billion and adjusted net earnings of $1.5 billion. The company achieved a total production volume of 1,420,358 BOE/d, marking a 10% increase from the previous year. Strategic acquisitions, such as the Palliser Block and Montney assets, are expected to bolster future production and synergies. The company's management remains optimistic about the second half of 2025, anticipating continued strong operating results. Canadian Natural Resources plans to update its annual production guidance and capital forecast following the closure of the AOSP swap, reflecting its commitment to delivering shareholder value through strategic growth and operational excellence.
Globe and Mail
2 hours ago
- Globe and Mail
Digital Silk Announces Article: Best Branding Agencies and Key Selection Criteria in 2025
New York, New York--(Newsfile Corp. - August 19, 2025) - Digital Silk, an award-winning digital agency focused on creating brand strategies, custom websites and digital marketing campaigns, announces the publication of a new article, "Best Branding Agencies: How to Choose the Right Partner in 2025." The resource highlights factors businesses may consider when evaluating branding firms, including expertise, portfolio, industry recognition and service capabilities. Read the article: Digital Silk Announces Article: Best Branding Agencies and Key Selection Criteria in 2025 To view an enhanced version of this graphic, please visit: Branding Market Growth and Demand Branding services remain a core investment for U.S. businesses. According to a 2024 IBISWorld industry report, the U.S. branding consultants industry has continued to expand as companies prioritize differentiation and consistent identity across channels. This growth reflects ongoing demand for structured brand strategies in competitive markets. Key Considerations in Agency Selection The article organizes practical criteria for evaluating branding agencies, including: Proven track record across industries and platforms Portfolio diversity demonstrating creative adaptability Recognition through awards or third-party listings Service integration spanning design, strategy and digital marketing Transparent processes and client communication practices Editorial Team Perspective "The article was created as a reference point for companies reviewing agency partners in 2025," said Gabriel Shaoolian, CEO of Digital Silk. "It outlines common criteria that organizations may use to compare capabilities and align with firms that support long-term brand consistency." Access "Best Branding Agencies: How to Choose the Right Partner in 2025" is available now on Digital Silk's website. The guide can support decision-makers evaluating vendors as part of upcoming brand refresh or expansion initiatives. Read the article: About Digital Silk Digital Silk is an award-winning New York Branding Agency focused on growing brands online. With a team of seasoned experts, the company creates digital experiences through strategic branding, custom web design and digital marketing services to help improve visibility and support engagement.
