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Overall U.S. beer sales grew 1.8% in the 12 weeks ended May 20, according to data from research firms NielsenIQ and TD Cowen. Sam Adams maker Boston Beer, the largest craft beer maker, saw its market share slip last year. Bud Light and Coors Light, popular premium light beers, average about $7.40 for a 12-ounce six-pack, while Boston Beer's Sam Adams costs between $10 to $12. "The American consumer likes light beer," Molson Coors CEO Gavin Hattersley said at a conference in early June. "I think dynamics within the subsegment might change, but the overall consumption of light beer is not going to change materially."

Persons: Beer, Neil Reid, TD Cowen, Vivien Azer, Sam Adams, Boston Beer, Bud Light, Jon Reynolds, Reid, influencer Dylan Mulvaney, Michel Doukeris, Gavin Hattersley, Ananya Mariam Rajesh, Anil D'Silva Organizations: Anheuser, Busch InBev, Molson Coors Beverage, University of Toledo, Refinitiv, Molson Coors, InBev, Boston Beer Co, Reuters Graphics, Boston, Constellation Brands, Modelo, Reuters, Brewery, Miller, University of Vermont . Giants, AB InBev, Thomson Locations: United States, NielsenIQ, Corona, American, Bengaluru

☆ Bernstein says Anheuser-Busch InBev selloff is overdone even as Bud Light sales volumes are expected to drop
▼ + stars: | 2023-06-06 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Bernstein said Bud Light volumes have further to fall, but is still optimistic on AB InBev's stock going forward. Analyst Trevor Stirling noted that the massive selloff in the stock stemming from customer backlash over the company's social media partnership with a transgender influencer was largely "overdone." Still, he said Bud Light volumes could continue to take a hit after already falling by roughly 30% in the U.S. in the second quarter. "We also assume that Bud Light volumes will take a permanent -15% haircut with an associated drag on operating leverage," the analyst said. Last month, HSBC downgraded Anheuser-Busch InBev stock over what the firm labeled a " Bud Light crisis ," and noted that the company could be contending with larger problems than it wants to admit.

Persons: Bernstein, Bud, Trevor Stirling, BUD YTD, BUD, Bud APAC, Stirling, — CNBC's Michael Bloom Organizations: Anheuser, Busch, InBev, HSBC, Busch InBev Locations: Monday's, U.S

☆ Transfer of holy icon shows Russian Orthodoxy's new sway under Putin
▼ + stars: | 2023-06-03 | by ( ) www.reuters.com time to read: +5 min

Emphasising its importance to the faithful, Putin last month ordered Andrei Rublev's "Trinity" be transferred to the Russian Orthodox Church from Moscow's Tretyakov Gallery for a year. For some, though, there is unease at the sway of the Church - and concern about possible damage to the fragile icon. She quipped that Russian leaders over the centuries have turned to icons in tough situations with the hope of victory. "Masterpieces of Russian icon painting and national shrines should not be exposed to unjustified risk," members of a cultural council within the Russian Academy of Sciences wrote in an open letter to Russian Minister of Culture Olga Lyubimova. "The only space suitable for placing the icon 'Trinity' by Andrei Rublev is in the halls of the Tretyakov Gallery, which is confirmed by almost a century of practice."

Persons: Vladimir Putin's, Putin, Andrei Rublev's, Moscow's Tretyakov, the, Josef Stalin, Abraham, Regina Elsner, Sergius –, Bolsheviks, Kirill of Moscow, Kirill, Putin's, Ksenia, Leonardo da Vinci's, Mona Lisa, Tretyakov, Korobeynikova, Olga Lyubimova, Andrei Rublev, Lucy Papachristou, Guy Faulconbridge, Mark Potter Organizations: Trinity Sunday, Soviet Union, Church, Eastern European, International Studies, Kremlin, Putin, Reuters, Russian Academy of Sciences, Thomson Locations: MOSCOW, Moscow, Ukraine, Moscow's, Soviet, Mamre, Russian, Berlin, Russia, Trinity, St, Moscow –, Gdansk

☆ Wall Street's succession summer
▼ + stars: | 2023-05-30 | by ( Kaja Whitehouse | ) www.businessinsider.com time to read: +5 min

But first, it's the summer of succession — and no, we're not talking about the TV show. Wall Street CEOs pretend that succession planning is another chore, like hashing out the annual budget or organizing an earnings call. But behind the boring press announcing their succession plans is often a story of intrigue and drama. And then, of course, there's Jamie Dimon, Wall Street's longest-serving CEO. Earlier this week, Insider highlighted 17 young analysts poised to shine.

"And the Russians are dying," Graham said, according to a video supplied by the Ukrainian presidential press service. In the next part of the video edit, Graham says with a smile: "It's the best money we've ever spent." The exact chronology of Graham's remarks was unclear from the video supplied by the Ukrainian presidential press service. "The old fool Senator Lindsey Graham said that the United States has never spent money so successfully as on the murder of Russians," said Russian Security Council Deputy Chairman Dmitry Medvedev. It has been a good investment by the United States to help liberate Ukraine from Russian war criminals."

☆ Russia's finances are 'in the shit,' says a former Russian economy minister
▼ + stars: | 2023-05-23 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

A former Russian economy minister warned of a looming financial crisis in Russia, per local outlet The Insider. "It's not that we're in the shit, it's that we've decided to settle down in it," Andrei Nechayev, a former economy minister said. "It's not that we're in the shit, it's that we've decided to settle down in it," Andrei Nechayev, Russia's former economy minister, said at a financial forum last week, according to a translation by The Insider, a Russian independent outlet. Nechayev, who was Russia's first economic minister from 1992 to 1993 after the fall of the Soviet Union, also warned of a looming economic crisis for the country. The former minister isn't the first high-profile voice to warn of Russia's technological decline following the sanctions.

☆ What to know about buying a used electric vehicle as more hit the auto sales market
▼ + stars: | 2023-05-21 | by ( Joe D'Allegro | ) www.cnbc.com time to read: +6 min

Electric vehicle sales keep growing, too. As recently as 2021, total battery-powered electric vehicle sales in the U.S. were under 450,000, but Kelley Blue Book says sales surpassed 800,000 in 2022 and are expected to top one million this year. While the used EV market is still very small, the growth trajectory of EV sales means shopping for a used electric vehicle will become more common and get easier over time, and encompass more make and model choices. In many ways, shopping for a used electric vehicle is the same as looking for any other used car or truck. Electric vehicles lose value faster, but upkeep is lessEVs generally depreciate faster than ICE vehicles, according to Kelley Blue Book.

☆ Medvedev outclasses Rune in Rome to capture first title on clay
▼ + stars: | 2023-05-21 | by ( ) www.reuters.com time to read: +2 min

Medvedev's fifth title of a stellar season and 20th overall leaves him as one of the top contenders for Roland Garros which begins on May 28. I didn't have any big tantrums and was like 'OK, let's continue' and here I felt amazing in practice. "But then you need to play the toughest opponents in the world and try to make it. I'm really happy that I managed to do it and prove to myself and everybody that I'm capable." Reporting by Shrivathsa Sridhar in Bengaluru Editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.

☆ German carmakers call for post-Brexit rules to be postponed
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +1 min

BERLIN, May 18 (Reuters) - Germany's powerful auto industry association is urging the European Union and Britain to postpone post-Brexit rules it says would hamper the transition to electric vehicles, potentially boosting the hand of UK-based carmakers calling for the same. Under the trade deal agreed when Britain left the EU, 45% of the value of an electric vehicle (EV) sold in the EU must come from Britain or the EU from 2024 to avoid tariffs. Tariffs both on exports to Britain and imports from it would be "a significant competitive disadvantage for the European car industry in relation to its Asian competitors in the so important UK market", it said. "We hope to be able to come to a resolution with the EU on this," Prime Minister Rishi Sunak's spokesperson told reporters on Wednesday. Reporting by Christoph Steitz Writing by Sarah Marsh Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ I drove the $180,000 Lucid Air. It solved my EV range anxiety and charged faster than I've ever seen.
▼ + stars: | 2023-05-18 | by ( Tim Levin | ) www.businessinsider.com time to read: +5 min

I drove the Lucid Air Grand Touring Performance, a $180,000 electric sedan. The Lucid Air Grand Touring Performance. The Lucid Air Grand Touring Performance. The Lucid Air Grand Touring Performance. The Lucid Air Grand Touring Performance.

☆ Central Asia leaders converge in China as Xi touts 'enduring' friendship
▼ + stars: | 2023-05-18 | by ( Andrew Hayley | ) www.reuters.com time to read: +2 min

The first to land was President Kassym-Jomart Tokayev of Kazakhstan - China's largest trading partner in Central Asia - with his face-to-face meeting with Xi on Wednesday ending with a deal to build "enduring friendship" and share "weal and woe". Tokayev's deal with Xi will set the tone for the other bilateral meetings, where China will seek deeper cooperation with other Central Asia states in its quest to achieve greater food, energy and national security. Two-way trade between China and Central Asia hit a record $70 billion last year, with Kazakhstan leading with $31 billion. Kyrgyzstan followed with $15.5 billion, Turkmenistan with $11.2 billion, Uzbekistan with $9.8 billion and Tajikistan with $2 billion. Reporting by Andrew Hayley; writing by Ryan Woo; Editing by Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

☆ UK is committed to making electric vehicle batteries, Hunt says
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +1 min

LONDON, May 18 (Reuters) - Britain will ensure that batteries needed to power electric vehicles (EVs) are produced domestically, finance minister Jeremy Hunt said on Thursday, a day after carmakers warned insufficient production could hurt investment in the country. "We are absolutely committed to making sure the UK is able to source onshore EV batteries that we need," Hunt said in a presentation to manufacturers on Thursday. Under the deal, 45% of the value of an EV sold in the EU must come from Britain or the EU from 2024 to avoid tariffs. On Wednesday, Hunt urged the industry to "watch this space" on the issue of British battery production. Reporting by William Schomberg; writing by David Milliken; Editing by Alistair SmoutOur Standards: The Thomson Reuters Trust Principles.

☆ The crew of a sanctioned super yacht have been playing 'Call of Duty' in the master suite and swimming in the infinity pool
▼ + stars: | 2023-05-17 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

A sanctioned superyacht is racking up about $112,000 per month in crew costs, Bloomberg reported. The crew have been on the vessel for over a year and have reportedly taken to playing "Call of Duty." Over the past year, Alfa Nero's crew have tried to find ways to pass time while the ship remains stuck. Bloomberg reported that the crew have taken to playing "Call of Duty" and other PlayStation games in the ship's master suite. The crew — which has dwindled from 44 to 6 people — will also sometimes swim in the yacht's infinity pool, Bloomberg said.

☆ Alcaraz stunned by Hungarian qualifier Marozsan in Rome
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +3 min

Alcaraz raced to a 4-1 lead but Marozsan hit back in superb style to reel off six points and hand the world number two only his second defeat on clay in 22 matches this season. "It's not easy to say something," Marozsan said immediately after the biggest win of his career. World number three Daniil Medvedev earned a hard-fought 3-6 6-1 6-3 win over Spain's Bernabe Zapata Miralles to reach the last 16 in Rome for the first time. In the women's draw, Elena Rybakina saw off Marketa Vondrousova 6-3 6-3 to reach her first claycourt WTA 1000 quarter-final, where she will face either top-ranked Iga Swiatek, the twice defending champion, or Croatia's Donna Vekic. Tsitsipas had taken the first set 6-3 against Sonego while Zverev leads 6-4 3-3 against Wolf.

☆ Alcaraz powers to victory over Ramos-Vinolas on Rome debut
▼ + stars: | 2023-05-13 | by ( ) www.reuters.com time to read: +3 min

Barcelona and Madrid champion Alcaraz, who is chasing his fifth title of 2023 and fourth on clay ahead of Roland Garros, overcame an early loss of serve amid heavy conditions at the Foro Italico to level up the opening set at 2-2. Alcaraz continued to build momentum and raced ahead 3-0 in the second set against a fading Ramos-Vinolas, wrapping up the match on serve to make it 12 wins in a row. "It wasn't easy," said Alcaraz, who will now leapfrog Novak Djokovic into top spot in the rankings on May 22. "The first round of every tournament is really tough and, of course, Ramos-Vinolas is a specialist on clay. Monte Carlo champion Andrey Rublev earlier overcame Alex Molcan 6-3 6-4 in a twice-interrupted match to book his place in the third round.

☆ The EV market pricing war is a 'nightmare scenario' for investors, says Wedbush's Dan Ives
▼ + stars: | 2023-05-09 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe EV market pricing war is a 'nightmare scenario' for investors, says Wedbush's Dan IvesDan Ives, Wedbush Securities managing director, and Gordon Johnson, GLJ Research CEO, join 'Last Call' to discuss the future of EV's as auto stock struggle to keep the pace.

☆ An ominous policy change is a sign Russia is preparing for a long, bloody war in Ukraine
▼ + stars: | 2023-05-08 | by ( Michael Peck | ) www.businessinsider.com time to read: +6 min

Recent changes to Russian conscription law indicate Moscow is preparing for a long war in Ukraine. Beyond a need for manpower, the changes may reflect the Kremlin's embrace of more heavy-handed rule. But Russian leaders appear to preparing for a long and bloody fight, judging by a series of new measures related to military conscription. The Russian government is "methodically stepping through a process to go over to a higher readiness and protracted war," Massicot added. Michael Peck is a defense writer whose work has appeared in Forbes, Defense News, Foreign Policy magazine, and other publications.

☆ US debt ceiling: How to trade off it
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +5 min

BlackRock says (BLK.N) it's been buying Treasuries in anticipation of an economic slowdown and a protracted debt ceiling fight. 2/ RAINY DAY DEFAULT PROTECTIONCredit default swaps (CDS), which work like insurance against a debt default, are seeing strong demand. "If debt ceiling concerns grow we think markets will price in more Fed rate cut expectations, which means 5-year yields would fall," said Miyairi. 5/ ALL THAT GLITTERSDeutsche Bank strategist Robin Winkler says a good hedge may be buying gold against the dollar, as it has the tightest relationship with newsflow around the debt ceiling. In August 2011, as a debt ceiling crisis prompted a U.S. credit rating downgrade, gold rose 11% that month alone.

☆ Budweiser maker's profit jumps as customers absorb higher prices
▼ + stars: | 2023-05-04 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +3 min

[1/3] Bottles of non-alcoholic beer and dishwasher soap are pictured at Anheuser-Busch InBev brewery in Leuven, Belgium November 25, 2019. The maker of Budweiser, Stella Artois and Corona repeated its 2023 forecast that core profit (EBITDA) would grow in line with its medium term outlook of between 4% and 8%, with revenue to grow ahead of EBITDA. He said AB InBev would invest more in Bud Light over the summer. First-quarter results of AB InBev's rivals Heineken and Carlsberg also showed consumer willingness to absorb higher prices. AB InBev's core profit rose by 13.6% on a like-for-like basis to $4.76 billion, compared with the 5.6% average increase expected in a company-compiled poll.

☆ AB InBev profit jumps as consumers absorb higher beer prices
▼ + stars: | 2023-05-04 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +2 min

[1/3] Bottles of non-alcoholic beer and dishwasher soap are pictured at Anheuser-Busch InBev brewery in Leuven, Belgium November 25, 2019. REUTERS/Francois LenoirSummarySummary Companies Q1 core profit up 13.6% vs consensus 5.6%Beer volumes up 0.4%, buoyed by ChinaRetains 2023 forecast of 4-8% core profit riseBRUSSELS, May 4 (Reuters) - Anheuser-Busch InBev (ABI.BR), the world's largest brewer, reported higher than expected first-quarter earnings on Thursday as consumers bought its beers at sharply higher prices. Revenue, however, rose sharply, as the company pushed through price increases and some consumers switched to more expensive beers or package formats. First-quarter results of AB InBev's rivals Heineken and Carlsberg also showed consumer willingness to absorb higher prices. AB InBev's core profit rose by 13.6% on a like-for-like basis to $4.76 billion, compared with the 5.6% average increase expected in a company-compiled poll.

☆ Budweiser-owner AB InBev reports profit hike as beer drinkers shoulder higher prices
▼ + stars: | 2023-05-04 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Budweiser owner AB InBev is the largest brewer in the world. Budweiser-owner Anheuser-Busch InBev on Thursday reported a jump in profit for the first quarter, saying the beer industry had proved resilient despite inflationary pressures. Underlying profit attributable to shareholders came in at $1.3 billion, up from $1.2 billion during the same quarter last year. In April — following the reporting period — AB InBev faced online backlash against its Bud Light brand after a brief social media partnership with a transgender influencer. Online personalities called for a boycott of the beer, while others said AB InBev did not show enough subsequent support for the TikTok star, Dylan Mulvaney.

☆ In race for efficient EVs, Mercedes taps F1 team to keep up with Tesla
▼ + stars: | 2023-05-02 | by ( ) www.cnbc.com time to read: +6 min

In this article MBG-FF Follow your favorite stocks CREATE FREE ACCOUNTLewis Hamilton of Great Britain drives the Mercedes AMG Petronas F1 Team W13 on race day during the 2023 Australian Grand Prix at Albert Park on April 2, 2023 in Melbourne. But Mercedes' F1 collaboration to build more efficient EVs faster is unprecedented because it embeds that racing mindset and technological expertise directly in product development. After decades of leadership in combustion-engine technology, legacy carmakers like Mercedes have lagged Tesla in electric vehicles. Mercedes' F1 team can help it get back in the race, said Steven Merkt, head of transportation solutions at TE Connectivity , a major autos supplier. Last year, Mercedes unveiled its EQXX concept car, a super-efficient EV capable of a range of more than 1,200 km (745 miles), which was jointly developed with the German premium carmaker's F1 team in England.

☆ 10 Things in Tech: Salesforce, cold plunges, and Tesla's biggest Chinese rival
▼ + stars: | 2023-05-01 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +4 min

Maybe I'll go to a coffee shop for something stronger than my usual Trader Joe's instant cold brew. How these OnlyFans creators used Reddit to grow their businesses. Tesla's biggest Chinese rival just released an $11,000 EV. Heinz promised to buy the infamous "ketchup boat guy" a boat with a GPS. But he said the money from Heinz only afforded him a small used boat and engines.

☆ Soviet and Russian fashion icon Zaitsev dies - agencies
▼ + stars: | 2023-05-01 | by ( Lidia Kelly | ) www.reuters.com time to read: +2 min

May 1 (Reuters) - Vyacheslav "Slava" Zaitsev, the couturier behind world-famous Soviet fashion that was often adorned with colourful Russian folkloric motifs, died on Sunday at age 85, Russian news agencies reported. After the show, Zaitsev received offers to open stores in the West, which the Soviet authorities rejected. In 1979, Zaitsev left the All-Union House of Models for a small atelier, which by 1982 he turned into the Slava Zaitsev Moscow Fashion House, becoming the first Soviet designer allowed to label his clothing. Among Zaitsev's Russian clients were music stars, actors, socialites and politicians. The patronage of Raisa Gorbacheva, the wife of the last Soviet Union leader, Mikhail Gorbachev, elevated his international fame in the 1980s.

☆ Uzbek leader wins referendum on extending powers
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +1 min

TASHKENT, May 1 (Reuters) - Uzbekistan has passed a package of constitutional amendments in a referendum, preliminary data showed on Monday, which will allow President Shavkat Mirziyoyev to run for two more seven-year terms when his current one ends in 2026. The reform, passed with 90.21% of Sunday's vote, resets Mirziyoyev's term count, while promising the Central Asian nation's citizens greater social and legal protections. Mirziyoyev, 65, has opened up the former Soviet republic's economy, greatly improved ties with the West, and curbed the powers of security services whose dominance had in previous decades turned the country of 35 million into a police state. Although Tashkent's Western partners are unlikely to approve of the extension of presidential powers, Uzbekistan risks little given the West is seeking support from ex-Soviet nations in its efforts to isolate Russia over its war in Ukraine. Reporting by Mukhammadsharif Mamatkulov, Writing by Olzhas Auyezov, editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

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