The latest London South East Webinar takes place on July 6. Come and hear CEO’s from Orosur Mining, Caledonia Mining, Glantus Holdings and Tekcapital speak. Please register here

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksMarks & Spencer Share News (MKS)

Share Price Information for Marks & Spencer (MKS)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 154.45
Bid: 154.35
Ask: 154.50
Change: 0.00 (0.00%)
Spread: 0.15 (0.10%)
Open: 154.00
High: 156.80
Low: 154.00
Yest. Close: 154.85
MKS Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

RNS Alerts are a premium feature

Login to your account

myTerminal is a premium feature

Login to your account

Don't have an account? Click here to register.

Retailers, investors urge Brazil to scrap bill seen boosting deforestation

Wed, 5th May 2021 00:01

* Marks & Spencer, John Lewis among those to sign

* Call for government to reconsider land law change

* Say would have to reconsider local agri supply chain

By Simon Jessop and Jake Spring

LONDON/BRASILIA, May 5 (Reuters) - A group of European
companies including Tesco and Marks & Spencer
have threatened to stop using Brazilian agricultural commodities
if the country's Congress passes a law expanding property rights
for squatters on public land.

Environmental advocates warn that the proposal would
encourage deforestation by rewarding land grabbers in the Amazon
rainforest who occupy properties illegally, often clear-cutting
areas for agricultural use in the process.

Proponents of the bill say that only by bringing properties
into the legal system can they be forced to comply with Brazil's
strict laws that limit deforestation in the Amazon to 20% of
private property.

The retailers, also including Metro and John Lewis,
as well as investors such as Norway's biggest pension company
KLP, said that Brazil's environmental protections were
increasingly inadequate, while the land bill potentially risked
even greater threats to the Amazon.

"If this or other measures that undermine these existing
protections become law, we will have no choice but to reconsider
our support and use of the Brazilian agricultural commodity
supply chain," the European companies wrote in an open letter to
Brazilian lawmakers released on Wednesday.

Brazil is the world's largest exporter of soy and beef.

The bill was scheduled for a vote in Brazil's Senate last
week but was shelved amid criticisms from environmentalists.
Congressional leaders said the issue needed more discussion and
indicated it could be put up for a vote again this week.

That proposal was the second push by the government and
congressional allies to win approval for such a plan. Similar
legislation was withdrawn in May 2020 after a boycott threat
from many of the same companies.

The current Senate bill would allow for much larger and more
recently settled properties to receive deeds.

The move comes at a testing time for the government of
President Jair Bolsonaro, as deforestation in Brazil's Amazon
surged to a 12-year high in 2020.

Under international pressure led by the United States,
Bolsonaro promised at a leaders summit in April to strengthen
environmental enforcement and reaffirmed a commitment to end
illegal deforestation by 2030.
(Reporting by Simon Jessop and Jake Spring; Editing by
Catherine Evans)

More News

Refillable revolution - UK supermarket Asda expands reuse scheme

* Britons becoming more aware of plastic use* Supermarket chains increasingly testing refills* Asda to add four more stores to trial* Has partnerships with Unilever and Kellogg's* Asda says trial store refills outsold packaged goodsBy James DaveyLOND...

16 Jun 21 00:01

UPDATE 1-Supermarket groups Carrefour and Tesco will not extend purchasing alliance

(Adds detail and background)PARIS, June 7 (Reuters) - French supermarket group Carrefour and its British peer Tesco said on Monday they would not extend a purchasing alliance between the two companies.They said in a joint statement that "they have...

7 Jun 21 07:53

Supermarket groups Carrefour and Tesco will not extend purchasing alliance

PARIS, June 7 (Reuters) - French supermarket group Carrefour and its British peer Tesco said on Monday they would not extend a purchasing alliance between the two companies.They said in a joint statement that "they have decided not to extend thei...

7 Jun 21 07:38

Wednesday broker round-up

(Sharecast News) - Tate & Lyle: Berenberg upgrades to buy with a target price of 855p.

2 Jun 21 13:19

BROKER RATINGS: Peel Hunt and Jefferies converge to say Hold Greencore

BROKER RATINGS: Peel Hunt and Jefferies converge to say Hold Greencore

2 Jun 21 09:38

LONDON MARKET CLOSE: FTSE 100 leaps into June as mining stocks rally

LONDON MARKET CLOSE: FTSE 100 leaps into June as mining stocks rally

1 Jun 21 17:04

LONDON BRIEFING: Economic readings in focus as June begins

LONDON BRIEFING: Economic readings in focus as June begins

1 Jun 21 08:26

BROKER RATINGS: Barclays raises Aveva; HSBC says Buy Severn Trent

BROKER RATINGS: Barclays raises Aveva; HSBC says Buy Severn Trent

27 May 21 09:32

LIVE MARKETS-UK travel reopening kick-starts airlines

* European STOXX index flat* Fed soothes inflation fears* U.S. equity futures edge upMay 26 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomson...

26 May 21 13:43

M&S to shut a third of core store estate over a decade

* Currently trades from 254 full line stores* Targeting 180 in 10 years* To open 17 new stores in next two years* Openings include six on former Debenhams sitesBy James DaveyLONDON, May 26 (Reuters) - Marks & Spencer plans to have about 30% fewer co...

26 May 21 13:17

LIVE MARKETS-ECB: mini-tapering worries

* European Stoxx index down 0.1%* Fed soothes inflation fears* U.S. equity futures edge upMay 26 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@th...

26 May 21 12:45

LONDON MARKET MIDDAY: Lacklustre moves but FTSE 250 outperforms on M&A

LONDON MARKET MIDDAY: Lacklustre moves but FTSE 250 outperforms on M&A

26 May 21 12:05

LIVE MARKETS-DIY hedging

* European shares erase gains* Fed soothes inflation fears* U.S. equity futures edge upMay 26 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thoms...

26 May 21 12:02

LIVE MARKETS-U.S. stock valuations face headwinds

* European shares erase gains* Fed soothes inflation fears* U.S. equity futures edge upMay 26 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thoms...

26 May 21 11:32

LIVE MARKETS-Equities: another choppy summer?

* European shares up 0.1%* Fed soothes inflation fears* U.S. equity futures upMay 26 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters...

26 May 21 11:06

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.