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☆ Sports programming still dominates TV, and Netflix is leaning more into it
▼ + stars: | 2023-10-18 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

Whether it's streaming or traditional TV, sports keep audiences coming back to their screens — and Netflix is working on getting more into the game. Netflix announced it would broadcast "The Netflix Cup" live, a matchup between athletes that appeared in the Formula 1 docuseries and the golf series "Full Swing." Even though customers are fleeing traditional TV, from the cable-TV bundle to broadcast, those that stick around often do so for the live sports. That showed in September, when the return of the National Football League and college football seasons propelled both broadcast and cable-TV viewership. It has been a gradual move toward both sports and live streaming — Netflix had technical issues when it aired the finale of reality show "Love is Blind" earlier this year — but one the streamer appears ready to make.

Persons: Max, NBCUniversal's Peacock Organizations: Netflix, Sports, Heineken Silver Las Vegas, National Football League, Nielsen, ESPN, Warner Bros, Disney, NFL, NBC, CNBC Locations: Las Vegas

☆ Mexican liquors and beers are on the rise in the U.S. — here’s what’s driving the torrid growth
▼ + stars: | 2023-10-08 | by ( Stefan Sykes | ) www.cnbc.com time to read: +7 min

"Tequila has been such a national treasure here in Mexico," said Guilherme Espagnoli Martins, global brand director of Diageo-owned Don Julio Tequila. The Mexican beer boomIt's not just tequila and mezcal — Mexican beer is booming, too. Mexican beer imports into the U.S. are up 10.6% in 2023, according to alcohol research firm Bump Williams Consulting. watch nowA spokesperson for Constellation told CNBC that Mexican beer sales grew as Hispanic culture gained a stronger foothold around the world. Constellation on Thursday reported quarterly results that topped Wall Street estimates, driven by the surge in demand for its Mexican beer brands.

Persons: Mario Tama, Lea, Tequila, Guilherme Espagnoli Martins, Don Julio Tequila, Don Julio, George Clooney, Martins, Don, Don Julio Tequila Blanco, Bump, Bud Light, Cowen, Vivien Azer, InBev's Bud, Constellation's, Azer, Jonnie Cahill, Tecate, Cahill, Heineken's, It's, Dos Equis, Eduardo, Lalo, González, LALO Blanco Tequila, Don Julio González Organizations: Modelo Especial, Getty, U.S, Experts, Diageo, CNBC, Bump Williams Consulting, Mexico's Modelo Especial, Constellation, Modelo, Constellation Brands, Anheuser, Busch InBev, InBev's, Heineken USA, Cinco de Mayo, Dos, Corona Locations: Los Angeles , California, U.S, Mexico, The U.S, United States, British, Mexican, Modelo, Dos

His remarks at the assembly's annual meeting of world leaders previewed an AI safety summit that British Prime Minister Rishi Sunak is convening in November. Dowden's speech also came as other countries and multinational groups — including the European Union, the bloc that Britain left in 2020 — are making moves on artificial intelligence. The U.N., meanwhile, is pulling together an advisory board to make recommendations on structuring international rules for artificial intelligence. Political Cartoons View All 1176 ImagesMajor U.S. tech companies have acknowledged a need for AI regulations, though their ideas on the particulars vary. Inexorable,” Dowden said, and the technology will test the international community “to show that it can work together on a question that will help to define the fate of humanity.”

Persons: Oliver Dowden, Rishi Sunak, António Guterres, Dowden, “, ”, ” Dowden Organizations: UNITED NATIONS, General Assembly, United, British, European Union, Britain, EU, General, Airbus, Heineken Locations: British, Europe

☆ Indian winemaker Sula not losing sleep over foreign rivals - CEO
▼ + stars: | 2023-09-15 | by ( Biplob Kumar Das | ) www.reuters.com time to read: +2 min

BENGALURU, Sept 15 (Reuters) - India's largest winemaker, Sula Vineyards (SULA.NS), is expanding its production capacity and counting on a pricing sweet spot to fend off foreign rivals in its home turf. Last year, the Indian government slashed import duties for some Australian winemakers as part of a foreign trade agreement (FTA) between the two nations. But among all the Indian wine companies, Sula has the least to fear," Chief Executive Officer Rajeev Samant told Reuters. He is counting on Sula's pricing strategy to thwart rivals. Wine consumers are getting "turned on" by the 800 rupee-plus category, he said, adding that the rise in demand for premium wines was largely limited to India's big cities.

Persons: Rajeev Samant, Samant, Grover Zampa, Biplob Kumar Das, Dhanya Skariachan, Gerry Doyle Organizations: Reuters, Grover, Diageo, Spirits, Heineken, United Breweries, Thomson Locations: BENGALURU, Sula, India, Mumbai, Bengaluru

☆ For Western firms, the risk of leaving Russia could be higher than staying
▼ + stars: | 2023-09-11 | by ( Greg Kennedy | ) www.cnbc.com time to read: +4 min

Bloomberg | Bloomberg | Getty ImagesA wave of Western companies exited Russia promptly after Moscow's invasion of Ukraine. For firms wishing to quit, amid heavy reputational and financial damage, the prospect of leaving is becoming harder with time. Nabi Abdullaev, a partner at Control Risks and former editor of the Moscow Times, told CNBC: "Some companies decide to stay because the risk of leaving Russia, at this moment at least, is higher than the risk of staying." Western companies that remain in the country are able to continue doing business because, despite sanctions, numerous transactions and activities are still authorized. In comparison, sanctions on Iran and North Korea are a far more severe environment for Western companies to operate within.

Persons: Nabi Abdullaev, Abdullaev, Vladimir Putin, Maria Shagina, Philip Morris, Heineken, Shagina Organizations: Bloomberg, Getty, Moscow Times, CNBC, Companies, Carlsberg, Danone, International Institute for Strategic Studies, Unilever, Nestle, PepsiCo, Research, Heineken, Russian Arnest, Kyiv School of Economics Locations: Moskva, Moscow, Russia, Ukraine, Russian, UniCredit, Raiffeisen, Ukrainian, Iran, North Korea

☆ British American Tobacco clinches a deal to sell its Russian business
▼ + stars: | 2023-09-07 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —British American Tobacco has struck an agreement to sell its businesses in Russia and Belarus, the company announced Thursday, more than 18 months after Moscow’s full-scale invasion of Ukraine sparked a mass exodus of Western firms from Russia. BAT (BTI) said in a statement that it had entered into a formal sales agreement with a consortium led by members of the management team of its Russian operations. In February, the company said its 2022 results had been dented by a £612 million ($764 million) charge related to its Russian and Belarusian businesses. BAT's London offices seen in January 2021 Toby Melville/ReutersBAT’s Russian and Belarusian businesses account for about 2.7% of its revenue. Dutch beer maker Heineken announced its departure from the country last month, saying it had sold its Russian business for a symbolic €1 ($1).

Persons: —, Toby Melville, Dolf van den Brink Organizations: London CNN, British, Tobacco, BAT, Reuters, Russian, Heineken, . Locations: Russia, Belarus, Ukraine, London

☆ Bill Gates made a nearly $100 million bet on Bud Light
▼ + stars: | 2023-09-06 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

Gates bought the stock around the time A-B reported earnings that fully encompassed the fallout from Bud Light’s partnership with transgender influencer Dylan Mulvaney. Last month, A-B said that its US revenue fell 10% in the second quarter, hampered by falling Bud Light sales. A few weeks later, Modelo overtook Bud Light in sales at grocery and beer stores, according to NIQ data, marking the first time Modelo has ever beaten Bud Light on a year-to-date basis. However, the difference is slim with Modelo holding 8.34% share of dollars spent on beer vs. 8.28% for Bud Light through August 12. Gates, who has previously admitted that he’s “not a big beer drinker,” has bought other beer brands too.

Persons: Bud Light’s, Bill Gates, Melinda Gates, Gates, influencer Dylan Mulvaney, Bud, Bud Light, he’s, ” Organizations: New, New York CNN, Anheuser, Busch, Melinda Gates Foundation Trust, Revenue, Modelo, Bud Light, Heineken Holding Locations: New York, North America, Canada, United States

☆ You Know You’re Getting Old When Your Bartenders Retire
▼ + stars: | 2023-08-31 | by ( Peter Khoury | ) www.nytimes.com time to read: +1 min

You know you’re getting old when your bartenders start retiring on you. Good bartenders are welcome anchors in this ever-changing, once-nocturnal city — particularly for those of us who keep late hours. (I’ve been an editor at The Times for a quarter century, working mostly at night.) He routinely worked Times holiday parties, goodbye parties, promotion parties — all while maintaining his good cheer and crafting tasty Negronis and Manhattans. That “Phantom” thing, which played at the Majestic Theater across 44th Street and closed in April, lasted a mere 35 years.

Persons: I’ve, It’s, Joe, Duffy Organizations: The Times, Heineken, Majestic Theater

☆ Heineken Sells Russia Business…for $1
▼ + stars: | 2023-08-25 | by ( Saabira Chaudhuri | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/deals/heineken-sells-russia-businessfor-1-313c7976

Persons: Dow Jones Organizations: heineken Locations: russia

The logo of Russian technology giant Yandex is on display at the company's headquarters in Moscow, Russia December 9, 2022. Moscow already demands a 50% discount on all foreign deals after consultants selected by the Russian government have valued the business. But three people familiar with the exit process for foreign companies said that some deals are facing demands for additional discounts before the government gives a green light. Another person, who works on M&A transactions and with foreign companies, said deals exceeding $100 million were at particular risk of being denied. In its biannual financial stability review, the central bank said foreign companies under pressure to leave Russia were doing so on "unfavourable" terms.

Persons: Evgenia, Carlsberg's, Intesa, Vladimir Putin's, Suren Gortsunyan, Rybalkin, Gortsunyan, Alexey Kupriyanov, Elena Fabrichnaya, Alexander Marrow, Victor Goury, Josephine Mason, Jane Merriman Organizations: REUTERS, Reuters, Heineken, Arnest, Companies, Nasdaq, Russia, Dyakin, Partners, Aspring, Nato, Thomson Locations: Moscow, Russia, Ukraine, MOSCOW, Russian, London, Laffont, Gdansk

☆ Heineken sells Russian business for $1 as it completes exit
▼ + stars: | 2023-08-25 | by ( Niamh Kennedy | ) edition.cnn.com time to read: +2 min

London CNN —Heineken has announced its departure from Russia following the sale of its business in the country for a symbolic €1 ($1). The brewer expects to incur a total loss of €300 million ($323 million) from the deal. But over the past 18 months, the Kremlin has made it increasingly difficult for Western firms to sell their Russian assets. In March, Heineken said it had decided to “do everything possible” to avoid its Russian business being nationalized, while leaving the country “as quickly as possible.”“First, we don’t think the Russian state or the people closest to it would have the best interests of our people at heart. Second, we were uncomfortable that the Russian state should benefit from forced appropriation of major business assets,” it said in a statement.

Persons: London CNN —, Dolf van den Brink, ”, — Olesya Dmitracova Organizations: London CNN, London CNN — Heineken, Arnest Group, Heineken, Arnest Locations: Russia, Russian, Moscow, Ukraine

☆ Heineken exits Russia with one-euro sale of operations
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Piroschka van de Wouw/File Photo Acquire Licensing RightsBRUSSELS, Aug 25 (Reuters) - Dutch brewer Heineken (HEIN.AS) said on Friday it had completed its exit from Russia by selling its operations there to Russia's Arnest Group for a symbolic one euro. Heineken announced its intention to exit Russia in March 2022, after Russia's invasion of Ukraine, acknowledging that the process had taken longer than expected. Many multinational companies flocked to leave Russia after the West imposed unprecedented sanctions on Moscow, but the Kremlin has retaliated by seizing some assets. Heineken had seven breweries in Russia and 1,800 employees, who will receive employment guarantees for the next three years. The Dutch brewer removed its Heineken brand from Russia last year and production of Amstel is to be phased out within six months.

Persons: de, Dolf van den Brink, Vladimir Putin, Turkey's, Heineken, Philip Blenkinsop, Jane Merriman Organizations: Heineken, REUTERS, Rights, Arnest, Kremlin, Anheuser, Busch InBev, Arnest Group, Thomson Locations: Nijmegen, Netherlands, Dutch, Russia, Ukraine, Moscow, Russian, Amstel

NEW YORK/LONDON, Aug 10 (Reuters) - Lean times faced by many U.S. and European companies may last longer than expected as they try to sell off their bulging inventories in an economic climate where demand is stalling. Full-to-bursting warehouses means fewer orders for manufacturers, which translates into lower levels of business activity and, ultimately, weaker growth. Now, global demand is falling as borrowing costs have risen, so companies have started running down stocks. Maersk controls about one-sixth of global container trade, transporting goods for a host of major retailers and consumer goods companies. Refinitiv I/B/E/S data shows U.S. and European companies are expected to report their worst quarterly results in years.

Persons: Vincent Clerc, Hugo Boss, Moller, Stanley Black, Decker, destocking, Levi Strauss, Rajiv Sharma, Arun Sundaram, Guillermo Novo, Cyrus de la Rubia, Siddharth Cavale, David Gaffen, Josephine Mason, Mark John, Jonathan Cable, Helen Reid, Jane Merriman Organizations: U.S, Maersk, Heineken, 3M, . Bureau of Labor Statistics, CFRA Research, Retailers, BASF, London, Rutgers University, Hamburg Commercial Bank, doesn't, Thomson Locations: Ukraine, U.S, United States, Ashland, Hamburg, New York, London

☆ Adidas and AB InBev influencer hangover may return
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +3 min

LONDON, Aug 3 (Reuters Breakingviews) - Adidas (ADSGn.DE) and Anheuser-Busch InBev (ABI.BR) are showing some unexpected resilience in the face of influencer trouble. Belgium beer producer AB InBev, meanwhile, grappled with a different influencer headache. The world's largest brewer experienced an April consumer boycott after picking transgender influencer Dylan Mulvaney to promote its popular Bud Light brew. And while AB InBev say 80% of its consumers still look favourably or are neutral on Bud Light, the brand was dethroned as the top selling U.S. beer in May. Still, Adidas trades at 10 times its forecast 2025 EBITDA, below its peer Nike's (NKE.N) 16 times, and AB InBev trails Heineken (HEIN.AS) by an even larger margin.

Persons: Kanye West, Ye, influencer Dylan Mulvaney, Bud Light, Karen Kwok, Lisa Jucca, Sharon Lam Organizations: Adidas, LONDON, Reuters, Anheuser, Busch InBev, InBev, Heineken, Twitter, Thomson Locations: Garden City , New York, U.S, Belgium, North America, Mexico

☆ BP appeal requires more than short-term sweeteners
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

LONDON, Aug 1 (Reuters Breakingviews) - Bernard Looney is throwing cash at BP’s (BP.L) shortcomings. In the three months to the end of June the $109 billion European oil major missed expectations by a wide margin, with net income falling 70% to $2.6 billion year-on-year. Wael Sawan, his counterpart at rival Shell (SHEL.L) who only took the helm this year, has refocused his company on “molecules” – from oil and gas to low-carbon hydrogen and biofuels. But Shell has done better, and Bernstein analysts recently estimated BP was trading at a yawning 87% discount to the sum of its parts. The risk for Looney is that if investors want to own one European oil major, it won’t be his.

Persons: Bernard Looney, Looney, Wael Sawan, Shell, Bernstein, won’t, Yawen Chen, Steve Cohen, ’, George Hay, Pranav Kiran Organizations: Reuters, Shell, outperforming, Exxon Mobil, Chevron, BP, Twitter, Sequoia, Thomson Locations: outperforming U.S, India

☆ EQT’s India IVF buyout hits on fertile themes
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

MUMBAI, Aug 1 (Reuters Breakingviews) - Private equity giant EQT (EQTAB.ST) is buying a majority stake in the country’s largest fertility clinic chain Indira IVF via its Asian unit BPEA EQT, valuing the firm at $1.1 billion. Indira IVF serves some of the 15% of Indian couples experiencing infertility, a problem on the rise in the world’s most populous country as people marry later and air pollution stifles the ability to conceive naturally. EQT’s deal also is another bet on the changing demands of the South Asian nation’s middle class. Thanks to the gradual maturing of the private equity business, both purchases come with the added benefit of the buyer taking control. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Indira, EQT’s, Shritama Bose, Steve Cohen, ’, Una Galani, Aditya Munjuluru Organizations: Reuters, Blackstone, HDFC, Twitter, Sequoia, Walmart, Thomson Locations: MUMBAI, Temasek

☆ Japan market rally fails to mask Nomura’s woes
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

It also powered a near-fivefold increase in pre-tax earnings at the bank’s retail unit from the same period last year. Nomura’s own stock has also benefitted, though its 20% rise this year to a two-year high lags the broader market. And the rally did nothing to fix the abysmal underperformance at its mainstay wholesale division. Revenue at the unit that comprises the volatile investment banking and trading businesses fell 4% to 191 billion yen ($1.3 billion). They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Nomura, Morgan Stanley, Kentaro Okuda, Steve Cohen, Antony Currie, Oliver Taslic Organizations: Reuters, Revenue, Global, Twitter, Sequoia, Thomson Locations: SINGAPORE, India

☆ Europe markets open lower as investors look to euro zone inflation data
▼ + stars: | 2023-07-31 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

LONDON — European markets were lower Monday as investors digest a heavy week of earnings and look ahead to euro zone inflation data and a key policy decision from the Bank of England. Food and beverage stocks were 0.9% lower in early deals, while oil and gas stocks were up 0.3%. Preliminary euro zone inflation data will be released at 11:00 a.m. CET, with a further fall from June's 5.5% expected to provide some relief for policymakers. The European Central Bank's Christine Lagarde signaled last week that the bank was "open minded" about whether it would raise rates in September as inflation shows signs of easing. The move would mark its 14th consecutive rise as U.K. inflation remains high, having fallen only slightly to 7.9% in June.

Persons: Christine Lagarde, France's Legrand, Pearson Organizations: Bank of England, Bank of Japan, Nikkei, Nasdaq, Heineken Locations: June's, Asia, Pacific, Europe, Netherlands

☆ Sequoia picks the right moment to ditch deadwood
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

The $85 billion venture firm downsized the commitments it expects its investors to make to vehicles targeting cryptocurrency and its own peers, the Wall Street Journal reported. With those investors, known as limited partners, now less pressed to flee private markets, it’s a smart time for Sequoia to help them shift into more promising opportunities. As last year's downturn tanked their public investments, LPs found themselves relatively overinvested in still-highly-valued private markets, forcing them to pull back from the likes of venture funds. As public markets recover – the S&P 500 Index (.SPX) is up almost 20% this year – this “denominator effect” is fading, a Capstone Partners survey suggests. And with LPs once again keen on private markets, they may be more likely to stick around, despite Sequoia’s self-admitted mistakes on investments like now-bankrupt FTX.

Persons: Sequoia’s, Anita Ramaswamy, ’, Jeffrey Goldfarb, Sharon Lam Organizations: YORK, Reuters, Wall Street Journal, Capstone Partners, Twitter, Walmart, BT boss’s, Thomson Locations: Sequoia

☆ Heineken’s pricing goof has a strategic spillover
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

LONDON, July 31 (Reuters Breakingviews) - Dolf van den Brink has had a six-month-long happy hour. Heineken’s misstep occurred even though the company increased prices for its beers by an average of 13% from a year earlier. While consumer goods groups like Unilever (ULVR.L) managed to hike without losing much business, Heineken’s 6% hit to beer sales in the first half suggests van den Brink has not. In Vietnam, which analysts at Bernstein estimate accounts for nearly half of that region’s sales, Heineken admitted its pricing was mistimed. Van den Brink seems confident the worst is over for 2023, because all his price hikes have already happened.

Persons: van den Brink, misstep, Bernstein, Van den Brink, Yawen Chen, ’, George Hay, Oliver Taslic Organizations: Reuters, Heineken, Unilever, Walmart, BT boss’s, of Japan, Thomson Locations: Vietnam, United States

☆ Even with alpha strikeout, Steve Cohen scores
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, July 31 (Reuters Breakingviews) - Hedge fund mastermind Steve Cohen is best known for his savvy trades, but it doesn’t take an investing whizz to make money in baseball. His New York Mets are one of the worst teams in the league despite a record-setting $364 million payroll. Cohen bought full ownership of the club in 2020 for $2.4 billion and spent lavishly on the roster. Even so, the Mets are already worth $500 million more than Cohen paid, according to Forbes, a nice uplift for substandard performance. Dan Snyder just sold his woeful Washington Commanders for $6 billion; Snyder paid $800 million for the team and its stadium in 1999.

Persons: Steve Cohen, Cohen, Max Scherzer, Dan Snyder, Snyder, Michael Jordan, Jennifer Saba, ’, Jeffrey Goldfarb, Sharon Lam Organizations: YORK, Reuters, New York Mets, Mets, Forbes, SAC Capital Advisors, Charlotte Hornets, Twitter, Sequoia, Walmart, BT boss’s, Thomson

☆ Heineken cuts 2023 forecast on Vietnam slowdown
▼ + stars: | 2023-07-31 | by ( ) www.cnbc.com time to read: +1 min

Heineken said it has seen signs of slowdown in demand for its beer in some European markets after its third-quarter sales rose by less than expected. Heineken , the world's second-largest brewer by volume, on Monday cut its 2023 profit growth forecast after an economic slowdown in Vietnam depressed first-half earnings by more than expected. The Dutch company, whose brands include Tiger and Sol, said it now expected growth in operating profit before one-offs this year to be between zero and a mid single-digit percentage. Heineken said its results in Asia had been affected by an economic slowdown, notably in Vietnam, one of the company's largest markets, which is facing reduced global demand for its exports. Operating profit reduced by about a third.

Persons: Heineken Organizations: Heineken, Tiger Locations: Vietnam, Asia

☆ Heineken CEO on Bud Light campaign fallout: 'You need to stand for your values'
▼ + stars: | 2023-07-31 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Heineken's chief executive says the company has learnt lessons from the social media controversy around a campaign for rival beer Bud Light — but still believes businesses should stand up for their "values." And that's affecting all players, all actors in society, also businesses and also brands," Dolf van den Brink told CNBC's "Squawk Box Europe." And at the same time, you need to stand for your values and your principles. Bud Light lost its spot as the top-selling beer in the U.S. in May, after conservatives boycotted the brand following a brief product placement deal with transgender social media influencer Dylan Mulvaney. Bud Light sales fell 24.6% in the period year-on-year, according to NielsenIQ data from consulting firm Bump Williams.

Persons: Bud Light, van den Brink, CNBC's, influencer Dylan Mulvaney, Bump Williams Locations: U.S

☆ Heineken’s profit hit by drop in beer sales in Asia
▼ + stars: | 2023-07-31 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —People in Asia aren’t guzzling as much beer as they used to. Best known for its eponymous beer label, Heineken is home to more than 300 brands, including Tiger beer, Amstel Lager and Strongbow cider. Heineken branded beer did continue to see growth in the first half, both overall and within Asia Pacific. The brewer also blamed a drop in premium beer sales on a decline in Russia, a market the company has said it’s trying to exit. Heineken now expects “stable to mid-single-digit” growth in operating profit for the full year, compared with the “mid- to high-single-digit” growth it outlined in April.

Persons: Dolf van den Brink, Strongbow, ” Heineken, Vladimir Putin’s, Heineken, “ Organizations: Hong Kong CNN —, Asia aren’t, Heineken, Asia Pacific, Lager, Yale, CNN Locations: Hong Kong, Asia, Dutch, Asia Pacific, Vietnam, Korean, Nigeria, Amsterdam, Russia, Ukraine

☆ Live updates: Russia's war in Ukraine, losses in Bakhmut
▼ + stars: | 2023-07-26 | by ( Chris Lau | ) edition.cnn.com time to read: +1 min

Catherine Ivill/Getty Images/FILEWhen Russia launched its full-scale invasion of Ukraine in February 2022, a slew of Western companies left in protest. But some of the world’s biggest firms — including Nestlé, Heineken and snack maker Mondelez — stayed put. Companies now find themselves caught between Western sanctions and public outrage on the one hand, and an increasingly hostile Russian government on the other. The Kremlin is making it more difficult for Western firms to sell their Russian assets — and imposing steep discounts and punitive taxes when they do. “Western companies are now caught between a rock and a hard place.”Read the full story here.

Persons: Telia Parken, Catherine Ivill, —, Vladimir Putin, Carlsberg, Maria Shagina, ” Organizations: Carlsberg, UEFA Europa, FC Kobenhavn, Celtic FC, Telia, Nestlé, Heineken, Companies, Danone, Breweries, International Institute for Strategic Studies, CNN Locations: Copenhagen, Denmark, Russia, Ukraine

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