Latest news with #ABF
Time Business News
2 days ago
- Business
- Time Business News
What Is a Customs Broker?
In Australia, under the Customs Act 1901, only licensed customs brokers—or the owner of goods—can submit import declarations for goods cleared into home consumption. Most businesses engage brokers to navigate complex regulations, avoid entry errors, and minimise costly delays or penalties. Licensing & Qualifications All customs brokers in Australia must hold a licence issued by the Department of Home Affairs Common pathway: Complete the Diploma of Customs Broking (TLI50822). Gain supervised workplace experience. Sit (if required) a national exam. Participate in mandatory continuing professional development (CPD)—typically 30 points annually ABF tightened 'fit and proper person' checks as of 5 March 2025, enabling electronic licence applications & broader nominee definitions Key Roles in the Supply Chain Customs brokers act as a vital bridge between importers and authorities by: Classifying good s accurately to calculate duties and taxes. s accurately to calculate duties and taxes. Completing import documentation, including permits and licences. including permits and licences. Liaising with customs officials and expediting clearances and expediting clearances Mitigating compliance risks , such as misclassification or incorrect valuations. , such as misclassification or incorrect valuations. Guiding tariff opportunities, HS codes, and trade agreements (e.g., India ECTA) This reduces delays, penalties, and errors that could disrupt the entire supply chain . Regulatory & Technological Context (2025 Outlook) Customs Amendment Legislation (from 5 March 2025) enhances digital licence administration and tighter security for trusted trade partners. (from 5 March 2025) enhances digital licence administration and tighter security for trusted trade partners. Illegal Logging Reforms (effective 3 March 2025): brokers must ensure oversight of timber legality, treatment standards, and documentation (effective 3 March 2025): brokers must ensure oversight of timber legality, treatment standards, and documentation Biosecurity measures continue to tighten, with DAFF requiring certifications, fumigation verification and compliance audits . with DAFF requiring certifications, fumigation verification and compliance audits . New CPD requirements issued by DAFF must be completed by 17 March 2025 Supply Chain Trends & Impacts on Brokerage a) Digital Transformation & Data AI-powered tools, real-time platforms, and e-signatures are becoming core features. Customs data is now the 'currency' of trade—vital for visibility & resilience b) Resilience & Sustainability Increased investment in robust networks and rail infrastructure—Australia's freight is up to three times costlier than elsewhere Push for traceability (using blockchain, IoT) to comply with ESG and biosecurity laws c) Geopolitical Change Agreements like Australia–India ECTA and the Supply Chain Resilience Initiative (SCRI) diversify routes beyond China d) Freight Costs & Policy Regulatory pressure on brokers to maintain strict compliance—part of new 'additional licence conditions' since July 2024 . Why Brokers Matter More Than Ever They help businesses maintain compliance and avoid expensive disruptions. and avoid expensive disruptions. They enable faster clearance via expert handling of complex regulations. via expert handling of complex regulations. They optimise tariff management and trade-agreement benefits. and trade-agreement benefits. They manage emerging risks—illegal logging, biosecurity threats, digital adoption, climate impacts. Business Recommendations Choose a trusted-operator broker accredited under Australian Trusted Trader (ATT) broker accredited under Australian Trusted Trader (ATT) Ensure brokers offer digital platform integration and data visibility. and data visibility. Regularly review CPD credentials , biosecurity practices, and licence compliance. , biosecurity practices, and licence compliance. Monitor supply chain resilience strategies: rail vs road freight shifts post extreme weather events Conclusion In 2025, customs brokerage in Australia has evolved from a transactional service into a critical strategic partner. As digitalisation, regulatory complexity, and global uncertainty rise, brokers play a pivotal role in ensuring seamless, secure, and compliant supply chain operations. By partnering with digitally advanced and accredited brokers, businesses safeguard their goods, reduce costs, and build resilience. TIME BUSINESS NEWS
BBC News
2 days ago
- Business
- BBC News
'One week' to safeguard jobs at Vivergo biofuel plant, boss warns
Bosses at the UK's largest bioethanol plant say they will be forced to begin consulting on redundancies within the next week unless the government steps British Foods (ABF) said it was in talks with the government to help save its Vivergo Fuels site at Saltend, near Hull, after the removal of a 19% tariff on imports of ethanol from the Sugar chief executive Paul Kenward said it meant that the government had "given away the entre UK market for bioethanol". A government spokesperson said it was working closely with the industry to find a way forward. Speaking to BBC Radio Four, Mr Kenward said there was "a lot at stake".He said the industry was not asking for a "permanent subsidy", but needed "some bridging support from government until some simple common sense changes to regulation can be made".Mr Kenward said representatives from the industry had met with government officials, including Business Secretary Jonathan Reynolds."Unfortunately, we gave a deadline which was the 15th [June]."They asked us to wait for another week – we gave them two – but if we don't hear back from them by 25 June we will have to start a consultation process, which may lead to redundancies," he Kenward's comments follow a similar announcement earlier this week by bosses at Ensus's Redcar bioethanol chairman Grant Pearson said the government needed to come up with a "urgent" solution to save skilled jobs in the region. In response, a government spokesperson said: "The deal agreed with the US will save thousands of jobs in the UK, and we will always act in the national interest."A meeting took place last week with representatives from the bioethanol industry "to discuss their concerns", the spokesperson Saltend plant produces bioethanol which is used in E10 petrol.E10 was introduced in 2021 to help cut carbon emissions and contains up to 10% also produces animal feed, which is a by-product of the bioethanol production process. Listen to highlights from Hull and East Yorkshire on BBC Sounds, watch the latest episode of Look North or tell us about a story you think we should be covering here.
Yahoo
4 days ago
- Business
- Yahoo
Is Associated British Foods plc's (LON:ABF) Recent Performance Tethered To Its Attractive Financial Prospects?
Associated British Foods' (LON:ABF) stock up by 8.7% over the past three months. Given its impressive performance, we decided to study the company's key financial indicators as a company's long-term fundamentals usually dictate market outcomes. Particularly, we will be paying attention to Associated British Foods' ROE today. Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. In short, ROE shows the profit each dollar generates with respect to its shareholder investments. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. The formula for ROE is: Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity So, based on the above formula, the ROE for Associated British Foods is: 13% = UK£1.5b ÷ UK£11b (Based on the trailing twelve months to March 2025). The 'return' is the profit over the last twelve months. Another way to think of that is that for every £1 worth of equity, the company was able to earn £0.13 in profit. View our latest analysis for Associated British Foods So far, we've learned that ROE is a measure of a company's profitability. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don't share these attributes. To start with, Associated British Foods' ROE looks acceptable. Even when compared to the industry average of 11% the company's ROE looks quite decent. This certainly adds some context to Associated British Foods' exceptional 25% net income growth seen over the past five years. We reckon that there could also be other factors at play here. For example, it is possible that the company's management has made some good strategic decisions, or that the company has a low payout ratio. We then compared Associated British Foods' net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 11% in the same 5-year period. The basis for attaching value to a company is, to a great extent, tied to its earnings growth. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. This then helps them determine if the stock is placed for a bright or bleak future. Has the market priced in the future outlook for ABF? You can find out in our latest intrinsic value infographic research report. Associated British Foods has a three-year median payout ratio of 35% (where it is retaining 65% of its income) which is not too low or not too high. By the looks of it, the dividend is well covered and Associated British Foods is reinvesting its profits efficiently as evidenced by its exceptional growth which we discussed above. Besides, Associated British Foods has been paying dividends for at least ten years or more. This shows that the company is committed to sharing profits with its shareholders. Upon studying the latest analysts' consensus data, we found that the company is expected to keep paying out approximately 35% of its profits over the next three years. As a result, Associated British Foods' ROE is not expected to change by much either, which we inferred from the analyst estimate of 11% for future ROE. In total, we are pretty happy with Associated British Foods' performance. Particularly, we like that the company is reinvesting heavily into its business, and at a high rate of return. Unsurprisingly, this has led to an impressive earnings growth. That being so, a study of the latest analyst forecasts show that the company is expected to see a slowdown in its future earnings growth. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
BBC News
4 days ago
- Business
- BBC News
US deal may force Redcar biofuel plant to close, Ensus warns
A bioethanol plant will be forced to close "imminently" unless the government acts, according to its which runs the Redcar plant, said the recent UK-US tariff deal "fundamentally undermined its business position", as it removed a 19% tariff on US ethanol firm's chairman Grant Pearson said the government needed to come up with a "urgent" solution to save skilled jobs in the region.A Department for Business and Trade (DBT) spokesperson said it was working closely with the bioethanol industry to understand the impacts of the deal. The company's warning follows a similar announcement made by Associated British Foods (ABF), which operates the only other bioethanol plant in the said the new deal, which is still being worked on, was the "final blow" to its Vivergo Fuels Site at Saltend, near Hull. 'Catastrophic knock-on effect' The two plants produce bioethanol, which is blended with petrol to produce more environmentally friendly fuels, such as E10 petrol in the Redcar plant sources feed grain from farms in the UK and Europe to produce about 400 million litres (88 million gallons) of bioethanol each also sells the byproducts from this process, such as high protein animal feed, to firm said it employed more than 100 people at the plant and that it supported a wider supply chain of about 3,000 people in northern is understood the influx of US produced bioethanol into the UK would severely undercut Ensus and ABF's Pearson said the loss of the Teesside plant would also mean a "catastrophic knock-on effect in other vital sectors of the economy".The UK is already the second-highest destination for US ethanol exports, according to US ethanol lobby group Renewable Fuels head Geoff Cooper said in May: "We are excited about the prospects of expanded market access that will help boost our farm economy, while also delivering lower-cost, cleaner fuel to UK drivers."US commerce secretary Howard Lutnick said on X on Thursday that he was looking forward to the UK-US deal becoming "simultaneously active in the coming days". Follow BBC Tees on X, Facebook, Nextdoor and Instagram.
Perth Now
12-06-2025
- Perth Now
Moment cops find stash of drugs, guns
A Sydney man has been charged for his alleged role in a US-based drug trafficking plot that imported about 50kg of cocaine and meth. In a pair of searches at homes in the Sydney suburbs of Condell Park and Padstow, the Australian Federal Police (AFP) say officers found more than $120,000 in cash, five balaclavas, 1kg of cocaine, and four pistols with ammunition. Video from the search of the Padstow home appears to show the supplies concealed in the ceiling of a child's bedroom, the wall adorned with colourful decals. The man is expected to face court on Thursday after police arrested him on the Gold Coast before extraditing him to NSW and charging him with offences including aiding and abetting the importation of a commercial quantity of border-controlled drugs. Five balaclavas were among the items found by police. AFP Credit: Supplied The man was arrested as part of an extended operation that intercepted 24 separate shipments from the US allegedly containing illicit drugs. The shipments allegedly contained about 18kg of methamphetamine and 30kg of cocaine. The AFP has alleged that the man kept track of the packages while they were transited and attempted to collect them upon arrival in the country. He is also alleged to have laundered $125,000 for two other people. AFP Detective Superintendent Morgen Blunden said the man's alleged role in a drug trafficking plot damaged Australia's economy and healthcare system. 'The AFP and its law-enforcement partners share a common goal to protect our community by ensuring harmful drugs do not infiltrate our streets,' he said. 'This arrest should send a strong warning to criminals that if you participate in illegal activities, the AFP will apprehend and prosecute you.' A huge stash was found in the roof of a Padstow home. AFP Credit: Supplied The 24 attempted shipments were intercepted by Australian Border Force (ABF) officers over a three-month period. ABF Superintendent Asha Patwardhan said criminals tried to 'exploit any vulnerability' to import drugs into the country. 'ABF will continue to work closely with our border protection and law-enforcement partners to disrupt and dismantle their deceitful business models,' Supt Patwardhan said.
