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☆ Some Companies Band Together to Support Nascent Low-Carbon Products
▼ + stars: | 2022-11-21 | by ( Dieter Holger | ) www.wsj.com time to read: +5 min

Global companies are combining their purchasing power to help commercialize low-carbon technologies as part of their efforts to meet net-zero commitments. One of the biggest corporate spending plans announced at the United Nations climate conference, known as COP27, was the First Movers Coalition. Its 65 member companies promise to collectively purchase $12 billion of nascent low-carbon products and services by 2030 to help suppliers develop their offerings and scale up. Once commitments are made, companies and suppliers meet regularly to share progress and work together. “Microsoft did not join [the First Movers Coalition] in Glasgow last year.

☆ Morning Bid: Bulls take cover
▼ + stars: | 2022-11-21 | by ( Yantoultra Ngui | ) www.reuters.com time to read: +2 min

We have seen this story before of markets getting ahead of themselves, but the latest China worries are resurfacing just as global investors dial back hopes of an imminent Fed pivot on interest rates. In Europe, ECB policymakers are seen taking an even tougher stance. Three top officials said on Friday that the European Central Bank must raise interest rates high enough to dampen growth as it fights record inflation and it could soon start running down its 5 trillion euro ($5.2 trillion) debt pile. Minutes from the ECB meeting and the Fed this week will provide markets more direction on the outlook for interest rates, while manufacturing and consumer confidence data will give a snapshot of the health of economies. Meanwhile, U.S. President Joe Biden is proving that age is just a number as he turned 80 on Sunday, making him the first octogenarian president in U.S. history.

☆ Want to cash in on the FIFA World Cup? HSBC names the global stocks set to win
▼ + stars: | 2022-11-21 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

There will be winners and losers at this year's FIFA World Cup — both in the stadium and stock market. Aviation fuel provider Qatar Fuel and hotel operator EMAAR Properties also made the bank's list of beneficiaries. But risks remain for investors, highlighted by the Qatari government's last-minute ban on sales of all beer at and around World Cup stadiums. Qatar Fuel, the exclusive jet fuel supplier in Qatar, will likely benefit from the World Cup almost immediately. The World Cup won't just benefit consumer companies in Qatar and the surrounding region, but the world over.

☆ Budweiser World Cup campaign curbed, not crashed, by Qatar beer ban
▼ + stars: | 2022-11-19 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +5 min

Budweiser has been a World Cup sponsor since the 1986 tournament in Mexico. STRICT CONTROLSBut Qatar 2022 was always going to be different, as the first World Cup held in a conservative Muslim country with strict controls on alcohol, the consumption of which is banned in public. He added that FIFA and Budweiser had been partners for decades and looked forward to being partners in the future. Doukeris though has said that the far greater impact in terms of beer sales is from fans across the globe, many with a AB InBev beer in hand - from a Jupiler in Belgium to a Brahma in Brazil. Indeed, the brewer has launched its biggest ever World Cup campaign in over 70 markets, more than double the number of participating countries, compared with just over 50 for the 2018 edition.

☆ What is Bud Zero, the only beer Budweiser can sell at the World Cup?
▼ + stars: | 2022-11-18 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN Business —In a surprise reversal, Qatar announced a ban of alcoholic beer at the eight stadiums hosting the World Cup. One serving of Bud Zero has 0 grams of sugar and 50 calories. “As partners of FIFA for over three decades, we look forward to our activations of FIFA World Cup campaigns around the world to celebrate football with our consumers,” an Anheuser-Busch InBev spokesperson said in a statement. Just a few days ago, reports showed World Cup workers moving beer tents into less visible areas of stadiums. The FIFA World Cup Qatar 2022 kicks off Sunday and lasts until December 18.

Doha, Qatar CNN —Just two days before the World Cup kicks off in Qatar, soccer’s world governing body FIFA confirmed that no alcohol will be sold at the eight stadiums which will host the tournament’s 64 matches. “Following discussions between host country authorities and FIFA, a decision has been made to focus the sale of alcoholic beverages on the FIFA Fan Festival, other fan destinations and licensed venues, removing sales points of beer from Qatar’s FIFA World Cup 2022 stadium perimeter,” said the FIFA statement. “There is no impact to the sale of Bud Zero which will remain available at all Qatar’s World Cup stadiums,” added the FIFA statement. “The tournament organisers appreciate AB InBev’s understanding and continuous support to our joint commitment to cater for everyone during the FIFA World Cup Qatar 2022,” continued the FIFA statement. The 2022 Qatar World Cup runs from November 20 until December 18.

☆ Siemens Q4 profit beats view; sees persistent demand for hardware, software
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +2 min

ZURICH, Nov 17 (Reuters) - German engineering and technology group Siemens (SIEGn.DE) posted a better-than-expected fourth-quarter profit for its industrial business on Thursday and said its factory hardware and software continued to witness strong demand. This made the maker of trains, and industrial software confident for the future, saying it expected revenues to grow by 6% to 9% during its 2023 fiscal year. "Strong demand continues for our hardware and software offerings, including higher than expected growth for our digital business revenue," Chief Executive Officer Roland Busch said. In the three months to Sept. 30, Siemens's industrial profit rose 38% to 3.16 billion euros ($3.28 billion), beating forecasts for 2.79 billion euros in a company-gathered consensus of analysts. Sales increased 18% to 20.57 billion euros - ahead of 19.13 billion euros forecast, while orders during the period rose to a better than expected 21.82 billion euros.

☆ Siemens to separate out 3 bln euro motors and drives business
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +2 min

ZURICH, Nov 17 (Reuters) - Siemens (SIEGn.DE) will combine five of its businesses into an independent motors and drives company with revenue of around 3 billion euros ($3 billion), Chief Executive Roland Busch said on Thursday. The German engineering company said its large drives applications and Sykatec, a metal component maker and also part of its portfolio companies, will be joined together. "We're convinced that this integrated motors and large drives provider - with high value creation - will be significantly stronger and more resilient than each business would be if it operated independently." The new company would have 14,000 employees and operate in a market for electrification and power conversion estimated to be worth around 20 billion euros, Siemens said. Siemens will remain active in the industrial motors business via its servo motors business, which makes motors for robots and integrated production lines.

☆ Siemens posts better than expected Q4 industrial profit
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

ZURICH, Nov 17 (Reuters) - Siemens (SIEGn.DE) posted a better than expected fourth quarter profit at its industrial business on Thursday and said strong demand continued for its factory hardware and software. The German engineering and technology group said industrial profit rose 38% to 3.16 billion euros ($3.28 billion) in the three months to the end of September, beating forecasts for 2.79 billion euros in a company-gathered consensus of analysts. Sales increased 18% to 20.57 billion euros - ahead of 19.13 billion euros forecast, while orders during the period rose to a better than expected 21.82 billion euros. This made the maker of trains, industrial software and automation confident for the future, saying it expected revenues to grow by 6% to 9% during its 2023 fiscal year. "Strong demand continues for our hardware and software offerings, including higher than expected growth for our digital business revenue," said Chief Executive Roland Busch in a statement.

☆ Burger King owner Restaurant Brands taps former Domino's CEO Patrick Doyle as chair
▼ + stars: | 2022-11-16 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Restaurant Brands International announced Wednesday that it is tapping former Domino's Pizza CEO Patrick Doyle as its executive chair. Doyle's appointment comes as Restaurant Brands tries to turn around Burger King's U.S. business. The Brazilian private equity firm took Burger King private in 2010, merged it with Tim Hortons in 2014 and named the new company Restaurant Brands International. To receive the performance share units, Restaurant Brands' stock will have to compound annually at least 6%, with the payout increasing if shares rise 10% and 15% annually. After leaving Domino's, Doyle joined the Carlyle Group as an executive partner focused on acquisitions.

☆ Deglobalization is not an option for any one of us, German Chancellor Olaf Scholz says
▼ + stars: | 2022-11-15 | by ( Su-Lin Tan | ) www.cnbc.com time to read: +5 min

Picture Alliance | Picture Alliance | Getty ImagesGerman Chancellor Olaf Scholz and Singapore Deputy Prime Minister Lawrence Wong have taken a united stance on continuing to work with China, but also remain committed to diversification. Scholz said Germany is keen to deepen economic ties with Asia-Pacific, not just China, in line with the pursuit of trade diversification. Olaf Scholz German chancellor"Often these are nothing but protectionism in disguise," Scholz said. Picture Alliance | Picture Alliance | Getty ImagesSingapore's Wong said the U.S. and China both have broad interests across Asia and must find a way to coexist, compete and cooperate peacefully. Picture Alliance | Picture Alliance | Getty Images"And within ASEAN, no country wants to be in a position to have the two sides between China or the U.S.

☆ Kraft Heinz turns to gimmicks and nostalgia to revive its ‘dusty’ brands
▼ + stars: | 2022-11-15 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +10 min

Because they’re incredible.”More than half of Kraft Heinz’s business comes from just eight brands — the aforementioned three, plus Kraft Mac and Cheese, Philadelphia Cream Cheese, Heinz, Lunchables and Ore-Ida. For Kraft Heinz, which is relying on Patricio to execute a comeback, there’s a lot on the line. So we have more loyalty.”For that reason, Kraft Heinz has leaned in to promoting its legacy brands — and with sometimes outrageous marketing. Kraft HeinzOther Kraft Heinz brands have also used attention-grabbing marketing campaigns. Kraft Heinz’s brands now have a presence on gaming platforms like Roblox, in addition to social media channels and other platforms.

☆ Mehmet Oz and 15 other candidates together spent over $223 million of their own money — and lost their 2022 midterm races anyway
▼ + stars: | 2022-11-14 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

Mehmet Oz spent nearly $27 million on his failed US Senate run. According to an Insider review of federal and state campaign spending, 16 out of the 22 top-spending candidates in the midterm elections lost their races. Combined, the 16 also-rans spent over $223 million of their own money — just over half of the nearly $443 the top self-funding candidates spent this cycle. They are Rep. David Trone of Maryland (roughly $12.6 million); Gov. Read Insider's entire list of the 22 largest self-funders in the 2022 midterm elections.

Share this -Link copiedWisconsin Senate race too close to call Wisconsin's Senate race between GOP Sen. Ron Johnson and Democrat Mandela Barnes is too close to call, NBC News says. Vance wins Ohio Senate race, defeating Democrat Tim Ryan, NBC News projects COLUMBUS, Ohio — J.D. Ohio Republican Senate candidate J.D. Vance is leading The Senate race in Ohio is too early to call, NBC News says, but Republican candidate J.D. Share this -Link copiedGeorgia Senate race too close to call Georgia's Senate race is too close to call about three hours after polls closed at 7 p.m.

☆ Major League Pickleball merges with PPA's week-old VIBE League
▼ + stars: | 2022-11-09 | by ( Jessica Golden | ) www.cnbc.com time to read: +2 min

Major League Pickleball and the Professional Pickleball Association's new VIBE Pickleball League have agreed to merge, the organizations said Wednesday. The combined league will continue to operate under the Major League Pickleball brand name and format as the rapidly growing sport surges in popularity. Last week, the PPA announced the creation of the VIBE Pickleball League with Mark Cuban as its first team owner. VIBE said it would be team focused and co-ed, similar to what Major League Pickleball has been doing. Milwaukee Bucks co-owner Marc Lasry and entrepreneur Gary Vaynerchuk have both made investments in Major League Pickleball.

☆ Elon Musk took over a struggling business with Twitter and has quickly made it worse
▼ + stars: | 2022-11-09 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +9 min

In this article TWTR Follow your favorite stocks CREATE FREE ACCOUNTThe Twitter profile page belonging to Elon Musk is seen on an Apple iPhone mobile phone. watch nowCompared to larger rivals Facebook and Google , Twitter never managed to develop an online ad business that matched the scale of its influence in popular culture and society at large. Twitter's revenue in the second quarter declined from a year earlier. Other opportunities are emerging, such as connected TVs and streaming services as well as Amazon's growing online ad business for retail-oriented companies, Tipograph said. González said she was willing to give Musk "the benefit of the doubt" when he told the group that Twitter was aligned with them.

☆ Republican state attorney general Eric Schmitt faces off against Democrat Trudy Busch Valentine in Missouri's US Senate election
▼ + stars: | 2022-11-08 | by ( Hanna Kang | ) www.businessinsider.com time to read: +3 min

Republican state attorney general Eric Schmitt is running against Democrat Trudy Busch Valentine to represent Missouri in the US Senate. Missouri's US Senate race candidatesSchmitt serves as the attorney general of Missouri, a position he was appointed to by Republican Gov. Mike Parsons following former Attorney General Josh Hawley's election to the US Senate. Prior to being appointed attorney general, Schmitt served as state treasurer and state senator. His opponent, Valentine, has raised $12 million, spent $11.6 million, and has $327,578 cash on hand, as of October 19.

☆ Major League Pickleball's newest team owner is Anheuser-Busch
▼ + stars: | 2022-11-08 | by ( Jessica Golden | ) www.cnbc.com time to read: +2 min

Zane Navratil and Parris Todd of BLQK celebrate a point during a group play Major League Pickleball match against the Florida Smash at Pickle & Chill on October 15, 2022 in Columbus, Ohio. Major League Pickleball has named its newest team owner, and it's a major beer brand. The rapidly growing sports league announced on Tuesday that Anheuser-Busch will purchase a Major League Pickleball team. Anheuser-Busch is the first Fortune 500 company to purchase an MLP team. Major League Pickleball also sees the partnership as a big win.

☆ Civil rights leaders call for all advertisers to stop spending on Twitter
▼ + stars: | 2022-11-04 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +3 min

The coalition, dubbed #StopToxicTwitter, consists of organizations including Media Matters, Free Press, Accountable Tech and Color of Change. The group is now urging companies to pause spending on Twitter, fearing that widespread layoffs at the company could impede Twitter's ability to moderate content on the site. Twitter gets over 90% of its revenue from advertising, though Musk has said there will be new subscription offerings with premium features. Angelo Clarisonic of Media Matters said in response that the pressure on Twitter is coming from advertisers and not merely the activists. González said that when she spoke to Musk earlier this week, "he seemed genuine but his actions have betrayed his words."

☆ Missouri investigating hospital's denial of an emergency abortion
▼ + stars: | 2022-11-03 | by ( The Associated Press | ) www.nbcnews.com time to read: +3 min

Missouri’s health department is investigating whether a hospital violated federal health care rules in denying a woman an emergency abortion, an agency spokeswoman confirmed Monday. But because her fetus still had a heartbeat and her condition wasn’t considered a life-threatening medical emergency at that moment, they couldn’t terminate the pregnancy in Missouri, they told her. Farmer criticized Missouri’s abortion ban in a campaign ad for Democratic U.S. Senate candidate Trudy Busch Valentine, who is running against Republican Attorney General Eric Schmitt. Missouri’s abortion ban includes exceptions for medical emergencies, although doctors and hospitals have said they’re unsure exactly what that covers. Additionally, physicians may also be subject to exclusion from the Medicare and State health care programs.”

☆ Netflix has launched its ad-supported tier — here's everything we know about how the streaming giant is pitching advertisers
▼ + stars: | 2022-11-03 | by ( Lauren Johnson | Elizabeth Pham Janowski | ) www.businessinsider.com time to read: +7 min

Netflix launched its ad-supported tier in the US on November 3. The new ad-supported tier does not have the full Netflix catalog and will offer video quality up to 720p. NetflixThe ad-supported tier is initially offered in 12 countries, beginning with Canada and Mexico on November 1. Netflix has been pitching advertisers with aggressive pricing, according to advertisers briefed by Netflix. Advertisers said they expect prices to drop after Netflix's ad-supported tier launches, as has been typical with other streaming services like NBCUniversal's Peacock.

☆ Budweiser Flows Freely, But There Are Sputters Ahead
▼ + stars: | 2022-10-27 | by ( Carol Ryan | ) www.wsj.com time to read: 1 min

Having forged a reputation as a deal maker, the world’s biggest brewer is doing a better job with the brands it already owns. It has less control over rising interest rates and a restless top shareholder, however. Anheuser-Busch InBev the brewing giant behind Budweiser and Stella Artois, said Thursday that sales for the three months through September increased by 12.1% versus the comparable period of 2021. The company’s main rivals also reported healthy numbers this week: Carlsberg grew sales by 11.6%, while Heineken managed 19.8%. Although most of the brewers’ growth came from raising prices to make up for cost inflation, all three also sold more beer than a year ago.

☆ Beer is on pace to lose its leading share of the U.S. alcohol market as spirits surge
▼ + stars: | 2022-10-27 | by ( Stefan Sykes | ) www.cnbc.com time to read: +2 min

This week, Samuel Adams maker Boston Beer debuted Loma Vista Tequila Soda, a ready-to-drink tequila cocktail in both lime and mango flavors. Last year was the 12th consecutive year spirits have taken away market share from beer in the total U.S. alcoholic beverage market, according to a report earlier this year from the Distilled Spirits Council, a national trade organization. The beer category, which includes hard seltzer, accounted for 42% of the U.S. beverage alcohol market in 2021, while spirits accounted for 41%, according to DISCUS. At this trajectory, spirits are pegged to overtake beer in market share in the next few years, even though beer sales have grown. The downward trend of beer market share has also been reflected on the online ordering and alcohol delivery platform Drizly.

☆ AB InBev raises 2022 outlook as beer sales accelerate
▼ + stars: | 2022-10-27 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +3 min

SummarySummary Companies Q3 core profit up 6.5% vs market consensus 5.2%AB InBev says beer market resilientHeineken, Carlsberg voice concerns over European consumersBRUSSELS, Oct 27 (Reuters) - Anheuser-Busch InBev (ABI.BR), the world's largest brewer, reported higher-than-expected quarterly earnings on Thursday as beer sales accelerated, and raised its 2022 outlook to the top-end of its previous forecast range. Third-quarter core profit - earnings before interest, tax, depreciation and amortisation - rose 6.5% on a like-for-like basis to $5.31 billion, above the 5.2% climb forecast by analysts in a company-compiled poll. The company said it now expects its core profit to rise by between 6% and 8%. EUROPEAN CONSUMER PINCHAB InBev's largest rivals, far more reliant on Europe, gave a more cautious view of the beer market. For it and Heineken, Europe represented at least 50% of their third-quarter business, against less than 15% for AB InBev.

☆ The economy may be in better shape than you think...for now
▼ + stars: | 2022-10-23 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +7 min

The consensus forecast from economists surveyed by Reuters is that GDP grew at an annualized pace of 2.1% in the third quarter. (This will be the first estimate for third-quarter GDP, and there will be several revisions in the coming weeks.) That also means the Fed will likely continue to sharply raise interest rates to finally choke off inflation once and for all. Those rate hikes helped cause a so-called double-dip recession, where the economy suffered two downturns between 1980 and 1982. In other words, the much-hoped-for “soft landing” for the economy could turn out to be a pipe dream.

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