JBS grows in the US despite scandals in Brazil
20 November 2018
JBS, the largest beef producer in the world, improved its quarterly results on the US market despite corruption allegations against its owners in Brazil. Joesley Batista, one of the JBS owners and a former chairman of the board, was arrested for a second time on political corruption charges on Friday, November 9. As a result, JBS Brazil lost 4.1% in market value within four days. On the contrary, JBS margins in the USA grew due to a 22% increase in revenues in the third quarter of 2018.