Latest news with #Raizen
Bloomberg
08-05-2025
- Business
- Bloomberg
Shell-Cosan Venture Explores Aviation-Fuel Asset Sale
Raizen SA, Brazil's biggest producer of ethanol, is exploring the sale of its aviation fuel distribution business in a bid to slash its debt load, according to people familiar with the matter. The company, owned by Shell Plc and Cosan SA, is working with Bank of America Corp. as it weighs a possible transaction, said the people, asking not to be named as the information isn't public. The business is estimated to be valued at as much as $200 million, one of the people said. Shares of Raizen extended gains following the news and closed 5.2% higher in Sao Paulo on Thursday.
CBS News
21-02-2025
- Health
- CBS News
Why do people sleep more when sick?
Despite it being late February, our brutal flu season shows no signs of slowing down. So far this year, more than 6,100 Minnesotans have wound up in the hospital with the flu. That's the highest number of patients in seven years. Even if it's not the flu, there's a chance you've caught some sort of bug this season. So why do we sleep so much when we get sick? There's a possible link between rest and recovery. In north Minneapolis, The Get Down coffee shop is where people come to perk up. But lately instead of being fueled up, many have felt run down, Including the shop's owner Houston White. "I don't know if it was RSV or COVID or what it was," White said. It's a shared experience: when people are sick, they get sleepy. Dr. David Raizen's been snoozing extra too. "Last night, I slept 12 hours," he said. The doctor's been sick, but he says what's happening in his body is unknown. "I wish I understood it. I do research on sleep, but the more I research it, the more I realize we don't really understand it," Raizen said. Raizen is the go-to on the subject. He did a study using roundworms at the University of Pennsylvania trying to figure out why we sleep while sick. "The why question is fascinating. The ultimate answer is we don't know for sure why. We don't know why we sleep when we are sick but we also don't know why we sleep on a daily basis. That's one of the great mysteries of biology," Raizen said. "The common wisdom is that we are trying to conserve energy. The degree of energy savings is also not entirely clear." But does it help the immune system? "We think it does," Raizen said. "Maybe that immune system that's involved in that innate response is what's optimized during sickness sleep, allows us to fight off infection very rapidly. It's not crystal clear and that keeps me and my collegues in business."
Yahoo
17-02-2025
- Business
- Yahoo
Brazil's Top Sugar Maker Raizen to Sell Assets, Trim Investments
(Bloomberg) -- Brazil's largest sugar and ethanol maker Raizen SA is looking at potential asset sales and halting projects to build new plants in an effort to reduce debt after borrowing costs soared in the country. Progressive Portland Plots a Comeback Why Barcelona Bought the Building That Symbolizes Its Housing Crisis A Filmmaker's Surreal Journey Into His Own Private Winnipeg How to Build a Neurodiverse City SpaceX Bid to Turn Texas Starbase Into City Is Set for Vote in May The company, a joint-venture between Brazilian conglomerate Cosan SA and oil giant Shell Plc, is undergoing a 'profound' portfolio revision, Chief Executive Officer Nelson Gomes told analysts during an earnings call on Monday. Brazil's central bank has increased its key rate by almost three percentage points since September to try to keep inflation in check. 'The rapid increase in interest rates has brought us a considerable sense of urgency right now, so that we can take all necessary actions to bring the company back to a stable and balanced position,' Gomes said. Raizen shares have plunged about 54% over the past year. The CEO didn't disclose which assets would be offered for sale, but said the core businesses of sugar, ethanol and fuel distribution in Brazil and Argentina would remain the company's focus. Raizen is also downsizing its trading arm, Gomes added. Chief Financial Officer Rafael Bergman said the company will only go ahead with two second-generation ethanol plants that are currently under construction, and will refrain from adding new projects that had been previously planned. Raizen posted a fourth-quarter net loss of 2.6 billion reais ($456 million), compared with an average 365 million-real profit in analyst estimates compiled by Bloomberg. The company saw sugar production slump after some of its cane fields were hit by drought, and also booked a 618 million-real charge from 'certain trading operations' involving futures contracts for sugar and ethanol. Raizen's shares fell as much as 7.3% in early Sao Paulo trading on Monday, before trimming losses. The company recently saw a series of leadership changes, with CEO Nelson Gomes taking the helm at the end of 2024. The change came as the Cosan conglomerate has been making efforts to reduce leverage. Bloomberg reported in November that Raizen considered the sale of a stake in its second-generation ethanol plants. Balance sheet weaknesses and lack of clarity on a turnaround and deleveraging processes may undermine investor optimism in the short term, Itau BBA analyst Monique Greco said in a report. 'In the long term, we believe the story offers an intriguing risk-reward proposition due to the potential outcomes of its just-begun turnaround process.' The Undocumented Workers Who Helped Build Elon Musk's Texas Gigafactory The Unicorn Boom Is Over, and Startups Are Getting Desperate Japan Perfected 7-Eleven. Why Can't the US Get It Right? The NBA Has Fallen Into an Efficiency Trap How Silicon Valley Swung From Obama to Trump ©2025 Bloomberg L.P. Sign in to access your portfolio
Bloomberg
14-02-2025
- Business
- Bloomberg
Bond Market in Brazil Gets Recovery Boost After December Rout
Money managers are tipping their toes back into Brazilian assets, cherry-picking dollar bonds of companies like Raizen and Usiminas following a deep selloff spurred by concerns over the country's spending plans. Dollar bonds of Brazilian corporates are handing investors a 2.2% return since the beginning of the year. That's roughly double the average return for corporate bonds in emerging-markets over the same period.
