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0.00172599784250266 0.00172599784250266 -0.00323624595469253 -0.00323624595469253 -0.00323624595469253 -0.0170442286947141 0.00573894282632143 0.00573894282632143
Stock impact report

ADM halting domestic trading in China, cutting jobs in Shanghai [Yahoo! Finance]

Archer-Daniels-Midland Company (ADM) 
Last archer-daniels-midland company earnings: 4/29 04:05 pm Check Earnings Report
US:NYSE Investor Relations: adm.com/contact-us/investor-relations
Company Research Source: Yahoo! Finance
operations in China and laying off staff within its largest business segment as part of a global cost-cutting push, the company said in an emailed statement on Monday. The move was meant to help ADM, a grains trading giant that has been embroiled in an accounting scandal since last year, "remain agile in a challenging environment," the company said in the statement.ADM's earnings have eroded due to slumping crop prices, inflation-reduced consumer demand and weak crop processing margins, with operating profit down 40% last year in its large Agricultural Services and Oilseeds (AS&O) division. Rising trade tensions between Washington and Beijing are now stirring up new headwinds for ADM, which relies on trade between top farm goods exporter the United States and China, the top importer. The phase-out of domestic trading at ADM's Toepfer Shanghai subsidiary was expected to conclude by the end of September, ADM said, adding that its other operations in Shanghai would not be affected. Show less Read more
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