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☆ Netflix is ending its subscriber-based DVD rental service
▼ + stars: | 2023-09-28 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +5 min

Introduced in 1998 when Netflix first launched, the DVD service promised an easier rental experience than having to drive to the nearest Blockbuster or Hollywood Video. McEvoy has remained faithful to Netflix’s DVD service so he can keep watching Bollywood and obscure independent films not often found on streaming services. Bill Rouhana, the CEO of Chicken Soup for the Soul Entertainment – which owns DVD rental service Redbox – told The Hollywood Reporter in April he hoped to purchase Netflix’s DVD business. Still, he said, he’s “sad” to see Netflix’s DVD service depart. “I absolutely would not have been able to find all of those movies [I’ve watched] if not for the Netflix DVD service,” he said.

Persons: Colin McEvoy, McEvoy, ”, “, who’ve, Brandon Cordy, Michael Inouye, Ted Sarandos, Netflix’s, Eric Schmitt, ” Cordy, Bill Rouhana, Redbox –, he’s, Viki Organizations: CNN, Netflix, Blockbuster, Hollywood, ABI Research, Gartner Research, Soul Entertainment, Disney Locations: Bethlehem , Pennsylvania, Atlanta

☆ Anheuser-Busch says it has stopped cutting tails of Clydesdales
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +1 min

The Budweiser brewing company Clydesdale horses arrive for the second 2016 U.S. presidential debate at Washington University in St. Louis, Missouri, October 7, 2016. REUTERS/Rick Wilking/File Photo Acquire Licensing RightsSept 20 (Reuters) - Brewer Anheuser-Busch said on Wednesday it has stopped cutting off the tails of Clydesdale horses used in publicity for its Budweiser brand of beer after People for the Ethical Treatment of Animals (PETA) launched a campaign against the practice. "The safety and well-being of our beloved Clydesdales is our top priority. The practice of equine tail docking was discontinued earlier this year," Anheuser-Busch, part of the Anheuser-Busch InBev (ABI.BR) global brewing giant, said in a statement. PETA launched its campaign against docking just before the big game last February.

Persons: Rick Wilking, Brewer Anheuser, Busch, Daniel Trotta, Edwina Gibbs Organizations: Budweiser, Clydesdale, Washington University, REUTERS, Animals, PETA, Anheuser, Busch, Busch InBev, American Veterinary Medical Association, Super, Thomson Locations: St, Louis , Missouri, Scotland

☆ Apple Watch review: New gesture control feature involves tapping the air
▼ + stars: | 2023-09-20 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +6 min

Over the past few days, I’ve been taking phone calls, playing music and scrolling through widgets on the new Apple Watch Series 9 without ever touching the device. The feature isn’t entirely new; the previous generation of Apple Watch Ultra was capable of similar pinch-and-clench gestures via its Assistive Touch accessibility tool. The future of hands-free devicesThe new Apple Watch Series 9 can be controlled by tapping two fingers together. The Apple Watch Series 9 will start at $399 and the Ultra is priced at $799. Although they start shipping on Friday, September 22, the Double Tap feature will launch via a software update next month.

Persons: I’ve, Cupertino , California Justin Sullivan, Apple, it’s, ”, Annette Zimmerman, they’ve, It’s, Sachin Mehta, Mehta, there’s Organizations: CNN, Apple, Apple Watch, smartwatches, Vision, Gartner Research, Apple Apple, Samsung, ABI Research Locations: Cupertino , California

☆ Here are Friday's biggest analyst calls: Apple, GM, Amazon, Zoom, Arm, Rivian, Ford, Deere & more
▼ + stars: | 2023-09-15 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

HSBC initiates Zoom as buy HSBC said Zoom is the leader in video conferencing. HSBC initiates Deere as buy HSBC said in its initiation of Deere that it sees "upside in the cycle." HSBC initiates Salesforce as buy HSBC said in its initiation of the stock that it's a "margin expansion story." HSBC initiates Snowflake as buy HSBC said Snowflake is well positioned for AI. HSBC initiates Oracle a buy HSBC said in its initiation of Oracle it likes the company's cloud platform.

Persons: Morgan Stanley, Rivian, it's, TD Cowen, Needham, Piper Sandler, Piper, KEY's, Lauder, Redburn, Wolfe, Goldman Sachs, Goldman, Casella, Zoom, Snowflake, Northcoast, Apple, Salesforce, Ford Organizations: Bank of America, underperform Bank of America, HSBC, Anheuser, Busch InBev, UBS, WWE, UFC, Systems, Moffett, Deere, Oracle, of America, Amazon, Apple, Lenovo, Adobe, General Motors, Ford, GM, UAW Locations: Americas, 2H23, North America, U.S, China

☆ Buy Bud Light owner AB InBev stock as U.S. headwinds deteriorate next year, TD Cowen says
▼ + stars: | 2023-09-15 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

TD Cowen says Bud Light owner Anheuser-Busch InBev is a long-term growth story with strong margins and exceptional market share. The firm initiated coverage of the beverage stock with an outperform rating and a 63 euro per share price target on Thursday. Shares of the Bud Light owner stock have slipped nearly 5% from the start of the year. Analyst Vivien Azer says that while challenges in the U.S. have been well covered , the company is still the dominant global leader in beer with exceptional profit margins. "We believe ABI is capable of sustainable long-term MSD dividend growth and continued deleverage, driven by industry leading beer profit margins and strong free cash flow conversion," Azer said.

Persons: TD Cowen, Bud, BUD YTD, Vivien Azer, Azer, — CNBC's Michael Bloom Organizations: Bud Light, Anheuser, Busch InBev Locations: U.S

☆ Here’s why Apple’s charger switch is such a big deal
▼ + stars: | 2023-09-13 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +6 min

CNN —Apple retired its Lightning charger on Tuesday exactly 11 years to the day it was first announced. The EU’s decision is part of a greater effort to tackle e-waste overall, but could it generate more in the short term as people phase out their Lightning cables. But knockoffs abound, and some USB-C chargers are much safer than others. Among CNN Underscored’s top recommendations for USB-C chargers are from big brands, including Anker, Belkin, Apple, Amazon and Google. Retiring the Lightning cable could even generate, in the short term, a surge of e-waste as iPhone users toss their useless Lightning cables in a drawer.

Persons: CNN —, pare, ”, Ben Wood, Apple’s, Greg Joswiak, ” Joswiak, David McQueen, ” McQueen, Thomas Husson, Anker, Belkin, ” Wood, Apple Organizations: CNN, CNN — Apple, Apple, European Union, CCS Insight, ABI Research, Forrester Research, Google Locations: EU

An iPhone 14 Pro is seen with a Lightning cable (left) and a USB-C cable (right) on September 10 in Berlin, Germany. Christoph Dernbach/picture-alliance/dpa/APThe iPhone 15 is heavily rumored to ditch Apple’s proprietary Lightning charger in favor of USB-C charging, marking a milestone for the company by adopting universal charging. The change could ultimately streamline the charging process across various devices — and brands. It’s currently unclear if the shift to USB-C will happen for all new iPhone 15 models or only for Pro devices. Apple could also bypass wired charging altogether to make way for wireless charging but not anytime soon because “wireless charging is currently so much slower than wired,” according to David McQueen, a director at ABI Research.

Persons: Christoph Dernbach, Thomas Husson, ” Wood, David McQueen, “, ” Organizations: It’s, Forrester Research, Apple, ABI Research Locations: Berlin, Germany

☆ Italy's new bank tax should count as cost, ABI banking lobby
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: 1 min

MILAN, Sept 12 (Reuters) - Italian banks should be able to deduct from their overall tax bill the one-off tax on income deriving from higher interest rates which the government plans to introduce, industry lobby ABI said on Tuesday. In comments prepared for a parliamentary hearing, ABI also said that the impact of lenders' government bond holdings on their income and capital should also be excluded from the tax. ABI warned the tax risked violating principles set by Italy's constitutional law. It added the sector faced challenges such as a rising cost of funding and a possible increase in unpaid loans driven by the higher rates. Reporting by Valentina Za and Giuseppe Fonte; editign Federico MaccioniOur Standards: The Thomson Reuters Trust Principles.

Persons: Valentina Za, Giuseppe Fonte, editign Federico Maccioni Organizations: ABI, Thomson

☆ Apple's new iPhone 15 may swap out the Lightning cable for the USB-C charging standard
▼ + stars: | 2023-09-08 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +4 min

CNN —Apple is set to unveil the iPhone 15 in just a few days, and it’s widely expected to come with a significant change. The iPhone 15 is heavily rumored to ditch Apple’s proprietary Lightning charger in favor of USB-C charging, marking a milestone for the company by adopting universal charging. That’s because Apple (AAPL) has previously switched its iPads and MacBooks to USB-C charging. It’s currently unclear if the shift to USB-C will happen for all new iPhone 15 models or only for Pro devices. The iPhone 15 devices are expected to ship with a new cable in the box, but considering many mobile devices already use USB-C, including Apple’s own iPads and MacBooks, access to charging wires shouldn’t be too hard or costly.

Persons: pare, ”, Ben Wood, Apple’s, Greg Joswiak, ” Joswiak, David McQueen, ” McQueen, Thomas Husson, ” Wood, McQueen, “ Organizations: CNN, Apple, European Union, CCS, ABI Research, Forrester Research Locations: EU

REUTERS/Brendan McDermid Acquire Licensing RightsLONDON, Sept 8 (Reuters) - Rising U.S. business bankruptcies may raise a red flag in what otherwise appears like an economy now impervious to rising interest rates. Commenting on the numbers, insolvency research organisation ABI blamed elevated interest rates, price inflation and a resumption of student loan payments as just some of the headwinds causing stress. That partly mirrors some of built-in household resilience to rising rates related to long-term fixed-rate borrowings and still-high cash savings that now earn significantly higher rates of interest now too. And that 10% - accounting for more than 60% of index market cap - had seen no rise in net interest payments so far in the Fed campaign. But creeping insolvencies among the smaller firms - many of whom have been dubbed 'zombies' for years due to their survival solely on low interest rates - may be a better reflection of what's starting to happen at the coalface of the economy.

Persons: Brendan McDermid, Albert Edwards, Edwards, Andrew Lapthorne, Russell, NFIB, Mike Dolan, Josie Kao Organizations: New York Stock Exchange, REUTERS, Yellow Corp, P Global Market Intelligence, Reuters, Societe Generale, Fed, National Federation of Independent Business, Reuters Graphics Reuters, Thomson Locations: New York City, U.S, midyear

☆ IAA Mobility: China's automakers take the world by storm with EV push
▼ + stars: | 2023-09-07 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Leonhard Simon/Getty ImagesEven before the show kicked off, Renault chief executive Luca de Meo was on French radio talking up the rapid advances made by Chinese EV makers. Competitors worry that Chinese brands may eventually dominate the global EV market. In Europe, the top destination for China’s car exports, sales of Chinese EVs are booming. Supply chain advantageA major factor contributing to the lower cost of Chinese EVs is the country’s dominance of the EV battery supply chain. However, geopolitical tensions could complicate Chinese EV firms’ global push.

Persons: Leonhard Simon, Luca de Meo, ” de Meo, ” “, ”, Dylan Khoo, Li Yunfei, Oliver Zipse, Khoo, It’s, — Hanna Ziady, Olesya Dmitracova Organizations: Hong Kong CNN, Visitors, Renault, Chinese EV, RTL Radio, China Association of Automobile Manufacturers, China Passenger Car Association, Union, UBS, Europe Auto, EV, New, Research, Deloitte, BMW, ABI Research, Jato Dynamics, “, China’s SAIC, MG, IAA, SNE Research Locations: China, Hong Kong, Munich, Germany, Chinese, Europe, Australia, Southeast Asia, Japan, Russia, New York, United States, France, British, United Kingdom, South Korean

☆ Investigation launches into China's 5G chip in new Huwaei Mate 60 Pro phone
▼ + stars: | 2023-09-06 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +3 min

CNN —The United States government is seeking more information about the Huawei Mate 60 Pro, a Chinese smartphone powered by an advanced chip. The government cited perceived national security concerns, such as the potential for cyberattacks or spying from the Chinese governement. The inclusion of a custom-built 5G chip would be a major benchmark for Huawei as it grapples with the impact of the US restrictions on its device business. But he said the launch also raises questions around how Huawei managed to launch the phone when it has spent the past four years under US restrictions banning access to 5G technology. “While access to 5G for the chipset is one thing, I’m not sure how the company managed to source all the other components that need to go into a 5G smartphone, such as power amps, switches and filters,” he said.

Persons: Jake Sullivan, “, ” David McQueen, TechInsights, Sullivan Organizations: CNN, United, Huawei, Kirin, US National, House, ABI Research, China’s Semiconductor Manufacturing International Corporation Locations: United States, Chinese, China

☆ Rising caffeine levels spark calls for ban on energy drink sales to children
▼ + stars: | 2023-08-30 | by ( Kailyn Rhone | ) www.reuters.com time to read: +5 min

[1/2] FILE PHOTO-Prime energy drink cans sit on a shelf at Target in Brooklyn, New York, U.S., August 18, 2023. Rival products like Anheuser Busch InBev-backed (ABI.BR) Ghost energy drinks and Kim Kardashian's “Kimade” energy drink also have 200 mg of caffeine. In the U.S. and UK, no national regulations ban the sale of high-caffeine energy drinks. She added: "Any energy drink with a high dose caffeine in it, such as Prime Energy, is unsafe for children." “I got confused because when you first see the can, it’s hard to see where it says energy drink.

Persons: Kim Kardashian's, Holly Benjamin, Dr, Benjamin, Chuck Schumer, Alani, Logan Paul, KSI, Shick, ”, “, Bonnie Patten, TINA, GNC, Vanessa O'Connell, Lisa Shumaker Organizations: REUTERS, Prime Energy, Anheuser Busch InBev, Monster Energy, University of Chicago, American Academy of Child, Psychiatry, FDA, U.S, Ghost Energy, Congo Brands, American Medical Association, Walmart, Target, Energy, Kailyn, Thomson Locations: Target, Brooklyn , New York, U.S, Canada, Australia, New Zealand, Congo, Florida, Kailyn Rhone, New York

☆ Maui conspiracy theories are spreading on social media. Why this always happens after a disaster
▼ + stars: | 2023-08-26 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +6 min

CNN —A slew of viral conspiracy videos on social media have made baseless claims that the Maui wildfires were started intentionally as part of a land grab, highlighting how quickly misinformation spreads after a disaster. Still, conspiracy theories continue to circulate as nearly 400 people are still unaccounted for. It’s not uncommon for conspiracy theories to make the rounds after a national crisis. Social media platform X did not immediately respond to a request for comment. That means posts sharing conspiracy theories that spark fear and emotion may perform better in a crisis than those sharing straightforward, accurate information.

Persons: hasn’t, Hurricane Dora, It’s, Renee DiResta, ” DiResta, “, ”, TikTok, Elena Hernandez, ” Hernandez, Instagram, Michael Inouye, ” Inouye Organizations: CNN, Electric, Stanford University, SpaceX, YouTube, ABI Research Locations: Maui —, Maui, Hurricane, ”, California, Hawaii

☆ Portable cell sites arrive in Maui to bring internet to residents and tourists
▼ + stars: | 2023-08-10 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +5 min

Many cell towers have backup power generators but they have limited capacity to keep towers running. Cell service is down. Why cell phone service went downAlthough strong winds can sometimes threaten cell towers, most are strong enough to handle the worst that even a Category 5 hurricane can bring. “When the fires get too close to cell sites, they will obviously burn equipment, antennas, and feedlines,” said Glenn O’Donnell, VP of research at market research firm Forrester. Cell towers have backup technology built in, but this is typically done through optical fiber cables or microwave (wireless) links, according to Dimitris Mavrakis, senior researcher at ABI Research.

Persons: “, Gov, Sylvia Luke, ”, Glenn O’Donnell, Forrester, O’Donnell, Dimitris Mavrakis, ” Mavrakis, Hurricane Maria Organizations: New, New York CNN, Verizon, CNN, Maui Verizon, Hawaii Emergency Management Agency, Emergency, Center, Cells, Mobile, Wireless, ABI Research, Google Locations: New York, Maui, Maalaea, Lahaina, Northern, Honolulu, O'ahu, Hawaii, Puerto Rico, Hurricane

☆ Why cell phone service is down in Maui — and when it could be restored
▼ + stars: | 2023-08-09 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +6 min

Cell service is down. Although strong winds can sometimes threaten cell towers, most are strong enough to handle the worst that even a Category 5 hurricane can bring. The smoke and flames can also attenuate signals because of the particulate density in the air.”If a tower collapses, cell networks could take months to restore. This means satellite phones, which often feature large antennas, can help provide voice, SMS, and data services anywhere on Earth, even without cell service. Although it’s unclear how long cell phone service could be down in affected regions, companies have been able to bring connectivity to disaster regions in the past.

Persons: Gov, Sylvia Luke, ”, Glenn O’Donnell, Forrester, “, O’Donnell, Dimitris Mavrakis, ” Mavrakis, Apple, Hurricane Maria, Hawaii’s Organizations: CNN, Wireless, ABI Research, Mobile, Emergency Management Team, FEMA, Verizon, Motorola, Huawei, Apple Watch, Google Locations: Maui, Hawaii, Puerto Rico, Hurricane

☆ Ethiopia accuses Amhara militia of trying to overthrow government
▼ + stars: | 2023-08-07 | by ( Dawit Endeshaw | ) www.reuters.com time to read: +2 min

REUTERS/Tiksa Negeri/File PhotoADDIS ABABA, Aug 7 (Reuters) - A senior Ethiopian official accused militiamen in the Amhara region of seeking to overthrow the regional and federal governments following days of fighting that led the authorities to declare a state of emergency. Clashes between Fano militiamen and the Ethiopian National Defence Force (ENDF) continued over the weekend. The conflict has quickly become Ethiopia's most serious security crisis since a two-year civil war in Tigray region, which neighbours Amhara, ended in November. Fano is a part-time militia that draws volunteers from the local population and was an ally of the ENDF during the Tigray war. Violent protests erupted across Amhara in April after Prime Minister Abiy Ahmed ordered that security forces from Ethiopia's 11 regions be disbanded and integrated into the police or national army.

Persons: Abi Adi, Amhara's, Temesgen Tiruneh, Temesgen, Legesse Tulu, Abiy Ahmed, Dawit Endeshaw, George Obulutsa, Aaron Ross, Nick Macfie Organizations: Ethiopian National Defence Force, Amhara Special Forces, REUTERS, Tiksa, Ethiopian, Fana Broadcasting, Protesters, Thomson Locations: Tigray, Tigray Region, Ethiopia, ADDIS ABABA, Amhara, Fano, Gondar, Ethiopia's

☆ Brazil's Ambev Q2 net profit falls 15%, misses estimates
▼ + stars: | 2023-08-03 | by ( Natalia Siniawski | ) www.reuters.com time to read: +2 min

REUTERS/Paulo WhitakerAug 3 (Reuters) - Brazilian brewer Ambev (ABEV3.SA) on Thursday reported a 15.2% decline in second-quarter net profit, narrowly missing market forecasts. The subsidiary of Belgium's Anheuser-Busch InBev (ABI.BR) posted profit of 2.60 billion reais ($540.34 million), below the 2.68 billion reais average estimate of analysts polled by Refinitiv. Revenue rose 20% from the same period a year earlier to 18.9 billion reais, as cost pressures continued to ease but missing the 19.80 billion reais consensus view. Earnings before interest, tax, depreciation and amortization (EBITDA) grew in all business units, though sales volume declined 2.2%. "Our top-line performance remained resilient and cost pressures continued to decelerate leading to bottom-line growth," CEO Jean Jereissati said in a statement.

Persons: Paulo Whitaker, Ambev, Jean Jereissati, Itau, Natalia Siniawski, Jane Merriman, Christopher Cushing, Tomasz Janowski Organizations: Bebidas, REUTERS, Belgium's Anheuser, Busch InBev, Refinitiv, Petrobras, PETR4, Thomson Locations: Companhia, Fortaleza, Brazil, Central America, Caribbean, Panama, Dominican Republic, Vale, VALE3

☆ 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

☆ Molson Coors bumps up annual forecast on strong demand for premium beers
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

Aug 1 (Reuters) - Molson Coors Beverage (TAP.N) on Tuesday raised its annual sales and profit forecasts, boosted by strong demand for its core brands Miller Lite and Coors Light. For the Americas segment, Molson Coors' net sales rose 10.7% in the second quarter as it shipped more premium beers. Molson Coors now expects full-year 2023 sales to grow in high single-digit percentage, on a constant currency basis. Annual underlying income before income taxes is expected to increase between 23% and 26%, on a constant-currency basis, compared with a low single-digit percentage increase forecast earlier. However, Molson Coors posted second-quarter sales of $3.27 billion, missing estimates of $3.29 billion, according to Refinitiv data.

Persons: Brown, Forman, InBev's Bud, influencer Dylan Mulvaney, Bud Light, Roth, Bill Kirk, Molson Coors, Savyata Mishra, Milla Nissi, Shounak Organizations: Molson Coors Beverage, Miller Lite, Anheuser, Busch InBev, Constellation Brands, Molson Coors, InBev's, Coors, Molson, Thomson Locations: U.S, Chicago, Bengaluru

☆ Bud Light maker to lay off hundreds of US corporate staff after sales slump - CNN
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +1 min

[1/2] FiILE PHOTO: Cans of AB InBev's Bud Light hard seltzer are displayed in a fridge in Jewel-Osco supermarket in Chicago, Illinois, U.S. October 21, 2020. Picture taken October 21, 2020. REUTERS/Richa NaiduJuly 26 (Reuters) - Anheuser-Busch InBev (ABI.BR), whose Bud Light sales have recently slumped in the United States, will lay off hundreds of corporate staff in the country, CNN reported on Wednesday citing a company statement. The job cuts would represent less than 2% of total employees at the world's largest brewer, but would not include frontline staff like brewery and warehouse staff, drivers, field sales among others, CNN reported. Reporting by Gokul Pisharody in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Persons: Bud, seltzer, Richa Naidu, Bud Light, influencer Dylan Mulvaney, Gokul, Nivedita Organizations: REUTERS, Anheuser, Busch InBev, CNN, Busch, Budweiser, Constellation Brands, Modelo Especial, Thomson Locations: Chicago , Illinois, U.S, United States, Bengaluru

July 10 (Reuters) - Constellation Brands' (STZ.N) Modelo Especial was the top-selling beer brand in the United States for a second consecutive month in June, after first dethroning Anheuser-Busch InBev's (ABI.BR) Bud Light in May. Modelo Especial was the top-selling beer brand for the four weeks ended July 1, with an 8.7% share of overall beer sales through retail stores for the period, while Bud Light came in second with a 7% share, according to consulting company Bump Williams, which sources data from NielsenIQ. Sales of Bud Light and Budweiser dropped 28% and 11.7%, respectively, from a year earlier, while Modelo Especial sales rose 8.5%. Azer added that consumers had quickly figured out AB InBev's other beer brands like Michelob Ultra and Natural Light, which are also seeing a fall in sales. Before the backlash, Natural Light was gaining due to cost-conscious consumers opting for cheaper six-packs.

Persons: Busch, Bud Light, influencer Dylan Mulvaney, Bump Williams, Michel Doukeris, Neil Reid, Cowen, Vivien Azer, Azer, Letitia James, Ananya Mariam Rajesh, Pooja Desai Organizations: Constellation Brands, Modelo Especial, Anheuser, U.S, University of Toledo, Budweiser, Target, New York, Starbucks, Thomson Locations: United States, NielsenIQ, U.S, Bengaluru

☆ Constellation Brands results top estimates on strong Modelo Especial sales
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +1 min

June 30 (Reuters) - Constellation Brands (STZ.N) first-quarter results topped Wall Street expectations on Friday, as the Corona beer maker benefited from higher pricing and steady demand for its alcoholic beverages. Constellation’s beer business posted an 11% increase in sales in the quarter ended May 31, mainly on strong growth across Modelo Especial, the Modelo Chelada brands as well as Corona Extra. Modelo Especial dethroned Anheuser-Busch InBev's (ABI.BR) Bud Light as the top selling beer in the U.S. in June after the latter faced backlash over a social media promotion with transgender influencer Dylan Mulvaney. Constellation net sales rose more than 6% to $2.52 billion, beating analysts' average estimate of $2.47 billion, according to Refinitiv IBES data. The company's first-quarter profit of $2.91 per share beat analysts' average estimate of $2.83 as per IBES data from Refinitiv.

Persons: Busch, Bud Light, influencer Dylan Mulvaney, Kim Crawford, Juveria, Vinay Dwivedi Organizations: Constellation Brands, Modelo Especial, Modelo, Anheuser, Constellation, Refinitiv, Thomson Locations: U.S

☆ One of the world's oldest spirits is making a comeback
▼ + stars: | 2023-06-27 | by ( Zoe Sottile | ) edition.cnn.com time to read: +9 min

The anise-flavored liquor is one of the oldest spirits in the world. He noted that it’s still common for Middle Eastern restaurants to stock European wines rather than traditional spirits like arak. He was experimenting to refine the production of al-kohl, a traditional form of eyeliner, according to Arak Muaddi, a Palestinian craft distillery. Nader Muaddi, the founder of Arak Muaddi, explained that producing arak starts with creating wine. The Middle East has “a very rich history of making wine and spirits, and it’s about time that we share it with the world,” Muaddi went on.

Persons: you’ve, –, Jason Bajalia, Jordan’s, ”, Terra, ” Bajalia, Bajalia, “, we’re, ’ ”, Jabir ibn Hayyan, kohl, Nader Muaddi, ” Muaddi, Muaddi, Lewin Muaddi, Arak “, May Matta, she’s, Matta, Arak Farid, Jess Abi Khalil, Frederick, Arak, it’s, “ I’ve Organizations: CNN, Terra, Terra Sancta, distillers, Lewin Historians, Jordan Locations: Arak, Terra Sancta, arak, Syria, Lebanon, Palestine, Palestinian, arak . Arak, The, American, Pennsylvania, of Israel, artisinal, France, Germany, Austria, Amman, “

☆ Starbucks workers at over 150 stores to go on strike over Pride decor dispute
▼ + stars: | 2023-06-23 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

June 23 (Reuters) - More than 3,000 workers at over 150 Starbucks (SBUX.O) stores in the United States will go on strike next week, the union representing the coffee chain's baristas said on Friday, following claims that the company had banned Pride Month decorations at its cafes. The strikes were also aimed at protesting against employees' treatment at Starbucks and pushing for a fair labor contract covering better pay and benefits, the Starbucks Workers United union added. The call for a strike comes days after the union said Starbucks had taken down some Pride Month decorations and flags at several stores, a matter that was also discussed by some workers on social media. Starbucks Workers United said on Friday the company's Seattle Roastery - located just nine blocks from Starbucks' first ever store at the Pike Place Market - was kicking off the nationwide strike, dubbed "Strike with Pride". Pride Month celebrations, with Pride Parades set to take place on Sunday in several major cities including New York, San Francisco, Seattle and Chicago.

Persons: baristas, Busch, Bud, Deborah Sophia, Shinjini Ganguli, Anil D'Silva Organizations: Starbucks, Starbucks Workers United, ., Pride, U.S, Target, Anheuser, Starbucks Workers, Seattle, Thomson Locations: United States, Pike, New York, San Francisco, Seattle, Chicago, Bengaluru

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