Frankfurt | Reuters — German potash and salt miner K+S said it was looking into selling stakes in its North American businesses because an ongoing cost cutting push would not yield enough savings to reach its debt reduction target. A company spokesman said K+S was considering selling a stake in its Bethune, Sask. potash mine
K+S considering sale of stakes in potash, salt businesses
U.S. livestock: Cattle futures rise on technical buying
Chicago | Reuters — U.S. cattle futures rose on Wednesday, rebounding from Tuesday’s downturn, while hog futures eased. Traders said that signs of strength in the cash market added support to the strength in both live and feeder cattle contracts. Technical buyers also helped pushed prices higher after early signs of strength. Chicago Mercantile Exchange
Nestle sells U.S. ice cream brands to Froneri
Zurich | Reuters — Nestle SA has agreed to sell its U.S. ice cream business to Froneri in a deal valued at US$4 billion, moving control of brands including Häagen-Dazs to a joint venture the Swiss group set up in 2016. Froneri was created after Nestle merged its European ice cream business in 20 countries
Constellation tightens grip on Canopy with CEO appointment
Reuters — Constellation Brands finance head David Klein will take over in January as CEO of pot producer Canopy Growth Corp., hardening up the Corona beer maker’s control of a company into which it has sunk US$4 billion. Klein was appointed Canopy chairman in October after Constellation booked a $430 million net loss related to
Vietnam considers CPTPP-level tariff cuts on U.S. ag products
Hanoi | Reuters — Vietnam is considering cutting tariffs on several U.S. products, the ministry of finance said in a statement on Monday, after U.S. Commerce Secretary Wilbur Ross urged Vietnam to reduce its trade surplus during a visit to Hanoi last month. Tariffs on chicken and processed chicken meat, almonds, grapes, wheat, pork and
JBS says U.S. IPO would not change headquarters
Sao Paulo | Reuters — Brazilian meatpacker JBS SA said in a securities filing late on Friday the company is considering a U.S. listing of its international assets but not a change of its headquarters. The company said it expects to have a capital structure that allows it to compete “on equal footing” with international
French wheat and barley ratings decline
Crop ratings for French wheat and barley have fallen sharply, while farmers made little progress with sowing and harvesting, data from farm office FranceAgriMer showed Nov. 22, suggesting heavy rain was continuing to affect field conditions. An estimated 78 per cent of soft wheat, France’s main cereal crop, was rated good or excellent in the
WTO tussles over hard stop or phase-out of appeals system
Geneva | Reuters — The World Trade Organization (WTO) battled on Tuesday over whether to bring its Appellate Body to an abrupt halt or allow its adjudicators to settle a handful of pending cases, according to trade officials present at a meeting on the subject. The Trump administration has for more than two years been
CN strike to weigh on railway’s 2019 profit
Reuters — Canadian National Railway on Tuesday cut its adjusted profit growth target for 2019, citing shipment delays from the country’s largest rail strike in a decade that ended last week. Shares in CN, which counts billionaire Bill Gates’ investment firm as its biggest shareholder, fell almost two per cent in morning trading in both
Hong Kong mulls Southeast Asia pig imports
Pork prices in the city are jumping due to the African swine fever outbreak in China
Reuters – Hong Kong is looking into importing live pigs from countries in Southeast Asia, including Malaysia, to supplement a dwindling supply from mainland China that has caused pork prices to surge, Food and Health Secretary Sophia Chan said Nov. 20. The city had been importing 4,000 pigs a day from mainland China for slaughter