GFM Network News


How JBS became collateral damage in a war between billionaires

JBS now plans to tweak U.S. IPO, executive says

Sao Paulo | Reuters — A business dispute between the disgraced billionaire Batista brothers in Brazil and the heir to an Indonesian pulp and paper fortune is throwing a wrench in meatpacker JBS SA’s plans to for a U.S. listing of its international operations, such as its Canadian beef plant. The dispute stems from a […] Read more

Ex-JBS chair Batista charged with corruption

Brasilia | Reuters — Brazilian federal prosecutors on Monday charged JBS SA shareholder Joesley Batista, another senior executive of the meatpacking company and a former federal prosecutor with corruption. The charges against Batista, former executive Francisco Assis and former federal prosecutor Marcello Miller were filed before a federal court in Brasilia, prosecutors said in a […] Read more





JBS CEO ordered to step aside in Brazil pension fund probe

Brasilia | Reuters — Brazilian police launched an investigation of fraud at state-run companies’ pension funds on Monday, as a judge ordered dozens of senior financiers and executives away from their firms, including the CEO of the world’s biggest beef exporter. Police carried out five arrests, more than two dozen interrogations and over 100 search […] Read more

Brazil prosecutors charge JBS board chairman

Sao Paulo | Reuters –– Prosecutors charged Joesley Batista, chairman of Brazilian meatpacker JBS’s board and president of its controlling shareholder J+F Investimentos, and eight others with crimes against the financial system, sending shares of JBS SA down more than eight per cent on Tuesday. The statement from prosecutors said J+F Investimentos and another subsidiary […] Read more