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Search resuls for: "Spirits Council"


4 mentions found


☆ More than 300 groups urge Biden involvement to avoid rail shutdown
  + stars: | 2022-10-27 | by ( David Shepardson | ) www.reuters.com   time to read: +2 min
WASHINGTON, Oct 27 (Reuters) - More than 300 groups including the National Retail Federation and National Association of Manufacturers on Thursday urged President Joe Biden's involvement to help avoid a potential rail strike that could have significant impacts on the U.S. economy. On Wednesday, a second union voted against ratifying a national tentative agreement reached in mid-September, raising prospects of a labor disruption later this year. "If that were to be the case, we could witness a strike that would shut down the entire freight rail system." The unions represent 115,000 workers at railroads including Union Pacific (UNP.N), BNSF, CSX (CSX.O), Norfolk Southern (NSC.N) and Kansas City Southern . The rail deal included a 24% wage increase over a five-year period from 2020 through 2024 as well $1,000 lump sum payments in each of the next five years.
☆ 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.
☆ Recession or not, investments in this sector have shown resilience in tough times
  + stars: | 2022-10-18 | by ( Michelle Fox | ) www.cnbc.com   time to read: +13 min
Boston Beer has an average analyst rating of hold and 8% downside to the average price target, according to FactSet. "In a recession, beer tends to gain about one percentage point of share from spirits. How to play the space With that mindset, you shouldn't alter your long-term investments because of a potential recession, Sarwat said. Its average price target is buy. Duckhorn also has an average rating of buy, with 30% upside to the average price target.
☆ US raises tariffs on European-built aircraft in ongoing dispute over subsidies
  + stars: | 2020-02-15 | by ( ) www.cnbc.com   time to read: +4 min
The U.S. government on Friday said it would increase tariffs on aircraft imported from the European Union to 15% from 10%, ratcheting up pressure on Brussels in a nearly 16-year transatlantic dispute over aircraft subsidies. EU officials have said they want to negotiate with Washington but will not be bullied into submission. EU officials had no immediate comment on Friday's news. The WTO in October had awarded Washington the right to impose tariffs on $7.5 billion of annual EU imports in its case against Airbus. "The EU and Airbus could end these tariffs by finally complying with their legal obligations, ending these illegal subsidies, and addressing their ongoing harm.
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