ADM weighs options for major ethanol plants amid slim profits
Archer Daniels Midland chief executive Juan Luciano indicated the Cedar Rapids and Columbus plants in Nebraska and Illinois Peoria may be sold or partnered as margins stay squeezed. The plants account for about half of ADM’s 1.8 billion gallon per year ethanol capacity. Industry peers also face weak prices as crude oil declines press margins. Analysts note wet mills offer flexibility but dry mills dominate production.
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Yahoo to Cut 15 Percent of Workforce in Transformation
Yahoo plans a 15 percent staff reduction reducing headcount to about 9,000 employees and under 1,000 contractors by year end. The company will close offices in Dubai Madrid and Milan and exit operations in Mexico City and Buenos Aires to cut expenses by over 400 million dollars in 2015 while pursuing a Alibaba stake spin off.
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