SAO PAULO (Reuters) - Brazil's JBS SA, the world's largest meat-packer, on Tuesday reported a net profit of 1.64 billion reais ($319.74 million) for the first quarter, which beat analysts' expectations by a wide margin, according to an earnings statement.
After a strong quarter for its U.S. pork business and its beef and processed foods divisions in Brazil, JBS said earnings before interest, tax, depreciation and amortization, a measure o operating... (continue reading...)
(Reuters) -Honda Motor is scaling down its full-time production workforce in China, with roughly 1,700 employees having agreed to leave thus far, as sales in the world's second-largest economy decline, the Nikkei reported on Wednesday.
GAC Honda Automobile, a joint venture between Honda and Chinese state-owned automaker GAC Group, began seeking employees this month to leave the company, according to the report.
The roughly 1,700 workers... (continue reading...)
SAN FRANCISCO (Reuters) - A federal court said that Elon Musk must testify again in the U.S. Securities and Exchange Commission's investigation into his $44 billion takeover of Twitter, according to a court filing on Tuesday.
The SEC sued Musk in October to compel the Tesla and SpaceX CEO to testify after he refused to attend a September interview for the investigation, saying the SEC was trying to "harass" him with a number of subpoenas.
... (continue reading...)By Timothy Aeppel
(Reuters) - President Joe Biden’s move to hike tariffs on Chinese goods should help U.S.-based medical mask and glove makers, a sector that has largely flamed out after surging during the COVID-19 pandemic.
Industry executives on Tuesday said Biden's tariffs could boost demand by helping level a price differential with cheap imports from China, and could foster investments needed to bring some stalled projects online,... (continue reading...)
(Reuters) - 3M said on Tuesday that the annual compensation packages of certain executives, including that of former CEO Mike Roman, did not receive the requisite number of favorable shareholder votes, on an advisory basis.
Roman's 2023 total compensation was $16.4 million, compared to about $14 million in 2022, even as the company dealt with the fallout from multiple lawsuits and slowing sales.
Although the vote is non-binding, the... (continue reading...)
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