Retail

JBS cyberattack could pressure restaurant margins, analysts say

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A worker walks past a mural outside the JBS SA pork processing plant in Louisville, Kentucky, U.S., on Friday, June 5, 2020.

Luke Sharrett | Bloomberg | Getty Images

The cyberattack on JBS, the world’s largest meatpacking company, could cause pain for restaurants if the situation isn’t resolved quickly, analysts say.

On Tuesday, the Brazilian company said it has made “significant progress” in the resolving the ransomware attack that impacted operations in North America and Australia. JBS expects that the vast majority of its plants will be back on Wednesday. It initially disclosed the attack on Monday.

In the meantime, beef prices rose. The U.S. Department of Agriculture reported that prices…



Source cnbc.com

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