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...ADM is not the first US company this week to warn that deficiencies in internal controls would result in delays to annual reports....
...The company’s shares plunged earlier this week after it delayed the release of quarterly results and announced the probe, which it said on Sunday was related to ADM’s nutrition segment and “certain intersegment...
...Vikram Luthar, a former chief financial officer of the nutrition business who has been group CFO since 2022, was placed on administrative leave in January after the company got a request for documents from...
...It made around $7.6bn in revenue in 2022, or 7.5 per cent of the group’s total. Its share of group operating profit was bigger, at 11 per cent....
...The group reported more than $100bn in revenue in 2022....
...The agricultural products group Archer Daniels Midland, which put its chief financial officer on leave in January while it investigated accounting practices at its food ingredients business, said on Friday...
...But ADM and Bunge still beat analysts' expectations, with ADM posting adjusted earnings per share of $1.89, down only slightly from $2.5 in the second quarter of 2022, when the firm generated its highest-ever...
...News round-up Everton FC bidder 777’s funding structure starts to unravel (FT) Signa failed due to illicit financial transactions, creditors allege (FT) ADM accounting probe reveals nutrition profits...
...Hg sells stake (FT) Crédit Agricole takes 7% stake in payments group Worldline (FT) Française des Jeux buys Sweden-listed betting group Kindred (FT) Sony calls off $10bn Zee merger in India after two...
...Brookfield has promoted London-based Anuj Ranjan to become CEO of its private equity group....
...Both groups are benefiting from the boom in renewable diesel and conflict-induced jumps in prices for oilseeds and grains....
...The others are ADM and Cargill, both headquartered in the US, and Europe-based Louis Dreyfus....
...But the group has been expanding its speciality ingredients business in recent years as it looks at future growth markets....
...“Plant-based meat has been disappointing in terms of taste and texture and they’ve also generally been too expensive compared to [real meat],” said Alastair Cooper at venture capital firm ADM Capital, whose...
...The group, which owns a 0.2 per cent stake in Bunge and 0.07 per cent of ADM, also wants a commitment for them not to source from lands deforested after January 1 2020, whether legally or illegally....
...of grains and fertilisers out of the Black Sea and the Sea of Azov are of huge importance to international food supplies, affecting the business of the big agricultural commodity traders Cargill, Bunge, ADM...
...ADM said: “Our goal is to build a more resilient and sustainable food system that protects forests, safeguards biodiversity, and supports communities.”...
...They're destined for ADM, one of the big grain corporations. Wes says at least they can provide a stable market....
...Cofco could not be reached for comment; ADM, LDC and Viterra did not respond to requests for comment....
...“It’s going to surprise people how steeply costs are being driven down,” said Alastair Cooper at VC ADM Capital. “Efficiencies are improving dramatically.”...
...LDC is one of a small group of companies, which includes ADM, Bunge and Cargill, that dominates global flows of agricultural commodities....
...including Cargill, ADM or Bunge, then small and midsized producers will be forced to go to shadow banks, a practice that is already common....
...Marc Ostwald at ADM Investor Services says the latest corporate bond buying initiative from the Fed sends a worrying message “that financial markets are not functioning, and that it sees the need to bailout...
...ADM is among the small group of international companies that lead international grain handling and processing, purchasing crops such as corn, wheat and soyabeans from farms for distribution or processing...
...The shake-up at ADM follows personnel changes at rival groups. Last week the agriculture division of Swiss-based Glencore announced the retirement of veteran leader Chris Mahoney....
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