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☆ Anheuser-Busch loses top LGBTQ+ rating over its Bud Light response
  + stars: | 2023-05-19 | by ( Danielle Wiener-Bronner | ) edition.cnn.com   time to read: +6 min
New York CNN —Last year, the Human Rights Campaign Foundation gave Bud Light parent company Anheuser-Busch a top rating for LGBTQ+ equality. Bud Light sales dropped in the ensuing weeks. Bud Light has been embroiled in controversy since April. But Bud Light hasn’t gotten the benefit of support for its initial deal with Mulvaney because of its subsequent reaction. During the discussion, he mentioned that Bud Light is just one brand within the company’s broad portfolio, which has not changed its full-year outlook.
☆ Fact Check-Miller Lite beer owned by Molson Coors, not Anheuser-Busch or AB InBev
  + stars: | 2023-05-17 | by ( Reuters Fact Check | ) www.reuters.com   time to read: +1 min
Beer brand Miller Lite is owned by Molson Coors Beverage Co, not Anheuser-Busch InBev. Posts online sharing a Miller Lite campaign video from March falsely claim the brand is owned by AB InBev. In April, transgender influencer Dylan Mulvaney’s sponsorship with Bud Light, a beer brand owned by Anheuser-Busch triggered a conservative backlash (here). A Molson Coors spokesperson said the company is separate from AB InBev and confirmed Miller Lite beer is a Molson Coors brand. Miller Lite beer is owned by Molson Coors Beverage Co, not Anheuser-Busch InBev.
☆ Bill Saluga, a Memorable Comedic Wiseguy, Is Dead at 85
  + stars: | 2023-05-16 | by ( Richard Sandomir | ) www.nytimes.com   time to read: +1 min
Raymond J. Johnson Jr. was a wiseguy, dressed in a zoot suit and a wide-brimmed fedora and waving a cigar in his right hand. “Ohhhh, you doesn’t have to call me Johnson,” he would say. Jr.“But you doesn’t have to call me Johnson.”And you can call his creator Bill Saluga. Mr. Saluga also played Johnson on various television series; on a disco record (“Dancin’ Johnson”); and, most memorably, in commercials for Anheuser-Busch’s Natural Light beer. In 1979, at the peak of Mr. Saluga’s fame as a comedic one-hit wonder, Tom Shales of The Washington Post wrote that “now everybody and his brother are doing Saluga impressions throughout this very impressionable land of ours.”
☆ The Business Nightmare of Dealing with Government
  + stars: | 2023-05-12 | by ( Matthew Gwyther | ) www.nytimes.com   time to read: +1 min
How business leaders should engage with politics is a vexed question, especially in these febrile times. Democracy and capitalism are supposed to go hand in hand. Martin Wolf, the chief economics commentator of the Financial Times, argues in his recent book “The Crisis of Democratic Capitalism” that the two work best for business when each complements and constrains the other. “The strengths of democracy are representation and legitimacy, while its weaknesses are ignorance and irresponsibility,” he writes. “The strengths of capitalism are dynamism and flexibility, while its weaknesses are insecurity and inequality.”
☆ HSBC downgrades Anheuser-Busch InBev as it deals with a 'Bud Light crisis'
  + stars: | 2023-05-10 | by ( Sarah Min | ) www.cnbc.com   time to read: +2 min
It's time to step to the sidelines on Anheuser-Busch InBev as it deals with a "Bud Light crisis," according to HSBC. It's mixed," Laboy wrote in a Wednesday note. The way this Bud Light crisis came about a month ago, management's response to it and the loss of unprecedented volume and brand relevance raises many questions." Laboy wrote. Anheuser-Busch InBev did not immediately respond to CNBC's request for comment.
☆ Here are Wednesday's biggest analyst calls: Apple, Tesla, Walmart, Chevron, Lumentum, Rivian & more
  + stars: | 2023-05-10 | by ( Michael Bloom | ) www.cnbc.com   time to read: +7 min
Barclays initiates 10X Genomics as overweight Barclays said in its initiation of the gene sequencing biotech company that it has margin expansion opportunities for 10X. Barclays reiterates Apple as equal weight Barclays said in its analysis of Apple TV+ that "incremental content spend could take some cash away from buybacks." Goldman Sachs reiterates Chevron as neutral Goldman said it's waiting for an "upstream inflection" before getting positive on Chevron shares. Bank of America reiterates Virgin Galactic as underperform Bank of America said it still sees too much uncertainty for the spaceflight company. Bank of America reiterates Rivian as buy Bank of America saidit's standing by shares of the electric vehicle company after its earnings report on Tuesday.
☆ Fact Check-Satire article about Anheuser-Busch closing half its US breweries taken seriously
  + stars: | 2023-05-05 | by ( Reuters Fact Check | ) www.reuters.com   time to read: +1 min
Anheuser-Busch, Bud Light’s parent company, has received criticism from conservatives following its collaboration with transgender influencer Dylan Mulvaney. But it is not closing half of its breweries in the U.S., contrary to claims shared online that have stemmed from a satirical article. Anheuser-Busch has 12 breweries in the United States (here), and as of this article’s publication, Reuters found no public announcements that half are shutting down. The claim that Anheuser-Busch is closing half of its breweries in the U.S. stems from a satirical article. This article was produced by the Reuters Fact Check team.
☆ Bud Light Maker Offers Financial Support to Workers Targeted Over Dylan Mulvaney Backlash
  + stars: | 2023-05-04 | by ( Jennifer Maloney | ) www.wsj.com   time to read: 1 min
Transgender activist Dylan Mulvaney spoke out for the first time since her Bud Light promotion sparked controversy. Photo: Jacquelyn Martin/AP; Caroline Brehman/ShutterstockThe maker of Bud Light said it will triple its U.S. marketing spending on the brand this summer and is providing financial support to front-line teams and wholesalers who have taken the brunt of a backlash to a company promotion with a transgender influencer. Bud Light’s delivery drivers, sales representatives and independent distributors have been confronted by angry people on the streets, in bars and in stores. “They are our neighbors, family members and friends. They are in every community in America,” Anheuser-Busch InBev Chief Executive Michel Doukeris said on a conference call with analysts Thursday.
☆ 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.
☆ Bud Light Maker Compensates Workers Targeted in Dylan Mulvaney Backlash
  + stars: | 2023-05-04 | by ( Jennifer Maloney | ) www.wsj.com   time to read: 1 min
Bud Light sales fell sharply after a company promotion with transgender social-media star Dylan Mulvaney. Photo: Jacquelyn Martin/AP; Caroline Brehman/ShutterstockThe maker of Bud Light said it would triple its planned U.S. marketing spending on the brand this summer and is providing financial support to front-line teams and wholesalers who have taken the brunt of a backlash to a company promotion with a transgender influencer. Anheuser-Busch InBev also will continue its support of LGBT rights organizations, said the company’s chief executive, Michel Doukeris .
☆ What boycott? Bud Light controversy led to only a 1% drop in global sales volume, CEO says
  + stars: | 2023-05-04 | by ( Grace Mayer | ) www.businessinsider.com   time to read: +4 min
Anheuser-Busch's global CEO Michel Doukeris discussed the impact of recent Bud Light backlash. Doukeris said the drop in Bud Light sales represented only 1% of the company's global sales volume. Previously, the Wall Street Journal reported that Bud Light Sales dropped by 17% by mid-April, per data created by Bump Williams Consulting and analyzed by Nielsen. By April 22, Bud Light sales in US stores dropped 21% compared to the previous year, per the sales data analysis reported on by the Journal. Bud Light has also reportedly offered a free case of beer to every employee of its wholesale distributors.
☆ 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.
☆ Anheuser-Busch Changes Beer Marketing Focus After Transgender Promotion
  + stars: | 2023-05-04 | by ( Julie Creswell | ) www.nytimes.com   time to read: +1 min
The beer giant Anheuser-Busch InBev on Thursday said that it would focus its marketing campaigns around sports and music and assign senior executives to oversee them, in the wake of controversy over a Bud Light promotion featuring a transgender influencer. In a call with analysts to discuss the financial results, Anheuser-Busch executives were peppered with questions about the backlash. They repeatedly noted that the promotion was limited to one influencer, Dylan Mulvaney, and one social media post, and that beer cans displaying her image had not been produced for mass distribution. The company said that senior executives would oversee all marketing campaigns before they are rolled out, and that it would largely focus its advertising and marketing around sports and music. The company noted it was a sponsor of the recent NFL draft and the Stagecoach music festival in California last week.
☆ It's 'too early' to asses any potential Bud Light backlash, Anheuser-Busch CEO says
  + stars: | 2023-05-04 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +2 min
He focused attention on the company’s global reach, saying that Bud Light is just one beer within its portfolio and it’s not changing the company’s full-year outlook. He also reiterated that the Mulvaney post wasn’t an ad campaign, and blasted the “misinformation” surrounding the sponsored post. The video went viral, with some responding with anti-trans rhetoric and calls for a Bud Light boycott. The week prior, Bud Light revenue was down 17%, even as sales of rivals Miller Lite and Coors Light increased. The company said it is going to increase investment in Bud Light as it continues to deal with sagging sales.
☆ Bud Light is hoping free cases of beer will smooth over any tensions with its sellers after Dylan Mulvaney backlash
  + stars: | 2023-05-03 | by ( Grace Mayer | ) www.businessinsider.com   time to read: +4 min
Bud Light has reportedly seen dips in sales since a promotion that featured a transgender influencer. Amid the backlash, the company is giving out free cases of beer to employees of its wholesalers. Anheuser-Busch, the company that owns Bud Light, is gifting a case of Bud Light to all employees who work with the company's wholesale distributors, the Journal reported. On April 1, transgender influencer Dylan Mulvaney posted a video on Instagram that featured Bud Light cans designed with a picture of her face. Later, the Journal reported that Bud Light Sales dropped by 17% by mid-April, per data created by Bump Williams Consulting and analyzed by Nielsen.
☆ Why the Bud Light sales nosedive won’t register on Anheuser-Busch’s earnings report this week
  + stars: | 2023-05-03 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +3 min
New York CNN —Anheuser-Busch will report earnings Thursday, marking the first time it will face Wall Street analysts’ questions since its Bud Light brand erupted in controversy. Sales of Bud Light have tumbled over the past month after the company delivered a custom can to Dylan Mulvaney, a transgender woman with a large Instagram following. The video went viral, with some supporting Mulvaney and the company, and others responding with anti-trans reactions and calls for a Bud Light boycott. The week prior, Bud Light revenue was down 17%, even as sales of rivals Miller Lite and Coors Light increased. Bud Light sales have been declining for years, but this situation has “snowballed” and made its troubles even more pronounced, Roth said.
☆ Bud Light Maker Offers Distributors Free Beer, More Ad Spending After Dylan Mulvaney Backlash
  + stars: | 2023-05-02 | by ( Jennifer Maloney | ) www.wsj.com   time to read: 1 min
In the week ended April 22, Bud Light’s U.S. retail-store sales fell 21% compared with the year-earlier period. Photo: Matt Slocum/Associated PressThe maker of Bud Light is working to make amends with its distributors, who say they have taken the brunt of the backlash to a company promotion with a transgender influencer. Anheuser-Busch InBev , the country’s largest brewer, has pledged to boost its marketing spending on Bud Light, accelerate production of a new slate of ads, and give a case of Bud Light to every employee of an Anheuser-Busch wholesaler, distributors said.
☆ Bud Light wanted to market to all. Now, it's alienating everyone
  + stars: | 2023-05-01 | by ( Danielle Wiener-Bronner | ) edition.cnn.com   time to read: +10 min
New York CNN —For years, Bud Light leaned on jokey ad campaigns and its designation as a light beer to push sales. Now, Bud Light finds itself seeking younger drinkers, and stumbling through America’s polarized landscape in the process. There have been calls for a Bud Light boycott. And the stock of Bud Light owner Anheuser-Busch (BUD) has fallen only about 3% in the last month, suggesting Wall Street isn’t too worried. Bud Light, he thinks, could be missing out on that type of support.
☆ Key Fed meeting and jobs data are ahead
  + stars: | 2023-04-30 | by ( Krystal Hur | ) edition.cnn.com   time to read: +5 min
In the spotlight are the Federal Reserve’s May meeting and the April jobs report. Federal Reserve Chairman Jerome Powell will likely face questions about credit conditions, in addition to the central bank’s inflation strategy. What’s at stake with the April jobs report: Economists expect the Bureau of Labor Statistics’ April jobs print to show slower employment growth last month and a rising unemployment rate. Wednesday: Federal Reserve interest rate decision, Chairman Jerome Powell’s press conference and April ADP private payroll report. Friday: April jobs report and March consumer credit.
☆ Bud Light faced a backlash over its campaign with a trans influencer. But a poll finds a majority of American beer drinkers support such campaigns.
  + stars: | 2023-04-29 | by ( Katie Balevic | ) www.businessinsider.com   time to read: +3 min
Bud Light and its parent company faced boycott calls for partnering with trans influencer Dylan Mulvaney. But a new poll found a majority of American beer drinkers favor brands partnering with trans influencers. A majority of beer drinkers also favored brands hiring more inclusive talent, per Morning Consult. About a quarter of those surveyed who identified as Republicans responded favorably to brands hiring transgender spokespeople. Bud Light sales were down 17% this week compared to the same time the previous year, and top marketing executives involved in the Mulvaney campaign at Bud Light and Anheuser-Busch took leaves of absence.
☆ A solid start to earnings season will be put to the test in the week ahead
  + stars: | 2023-04-29 | by ( Zev Fima | ) www.cnbc.com   time to read: +14 min
The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.
☆ Trump, who was notably silent on recent Bud Light boycott, owns up to $5 million in Anheuser-Busch stock, records show
  + stars: | 2023-04-28 | by ( Joshua Zitser | ) www.businessinsider.com   time to read: +3 min
After Bud Light partnered with transgender TikToker Dylan Mulvaney, right-wingers launched a boycott. But former President Donald Trump has been missing from the conversation. It turns out that he's an investor in Anheuser Busch InBev — the company that produces Bud Light. While the former president has been quiet about the Bud Light outrage, his son, Donald Trump Jr., has called for the boycott to end. Nikki Haley, a Republican presidential candidate, has repeatedly misgendered Mulvaney in speaking out against the Bud Light partnership.
☆ Bud Light sales reportedly dropped 17% following anti-trans marketing backlash
  + stars: | 2023-04-28 | by ( Grace Mayer | ) www.businessinsider.com   time to read: +3 min
Bud Light sales took a hit after the brewer partnered with a trans TikTok influencer, WSJ reports. The data showed Bud Light sales dropping 17% in the week of April 15 compared to the same week last year. Bud Light Vice President of Marketing Alissa Heinerscheid took a leave of absence following the backlash. Bud Light owner Anheuser-Busch has also said Heinerscheid will be replaced with with Todd Allen, the global vice president of Budweiser. Bud Light isn't the only brand that's been recently hit with anti-trans backlash.
☆ Fact Check-Claim Budweiser beverages were banned from Oktoberfest stems from satire
  + stars: | 2023-04-26 | by ( Reuters Fact Check | ) www.reuters.com   time to read: +1 min
The claim that beverages by Budweiser, a brand owned by brewing company Anheuser-Busch, have been banned from the Oktoberfest beer festival in Munich, Germany stems from a satirical website, but some have mistaken it as authentic online. Budweiser has never been served at the beer festival, a spokesperson for the event told Reuters. “Budweiser Brands Won’t Be Welcome at Oktoberfest For The 1st Time in 75 Years,” reads one post (here) and (here). A spokesperson for Oktoberfest told Reuters that Budweiser brands have never been served at the beer festival. A spokesperson for the festival told Reuters that Budweiser, a lager brand, has never been served at the beer festival.
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