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Bud Light controversy cost parent company about $395 million in lost US sales

Published Wed, 27 Nov 2024 07:25:46 GMT

Hong Kong (CNN) — The world’s largest brewer is counting the costs of being swept into a controversy over Bud Light in the United States.AB InBev said Thursday that US revenue fell 10% in the second quarter as sales of its top brand slumped. Sales to US retailers declined by 14%, under-performing the wider beer industry, primarily due to the decline in the volume of Bud Light it sold, the company said in a statement.Revenue fell $395 million in North America during the period, compared to the same time a year ago.That figure included sales in Canada, where revenue rose, suggesting the slump was isolated to the United States and that the losses on Bud Light may have been even greater.America’s former longtime No.1 beer has been hit by a backlash from right-wing media and anti-trans commentators since April, after sponsoring transgender influencer Dylan Mulvaney.Mulvaney’s post that month of an image of a custom can of Bud Light on Instagram quickly spiraled into a...

Lebanon warns Palestinian president that troops may intervene if clashes continue in refugee camp

Published Wed, 27 Nov 2024 07:25:46 GMT

SIDON, Lebanon (AP) — Lebanon’s caretaker prime minister called the Palestinian president Thursday to demand an end to the volatile situation in the country’s largest Palestinian refugee camp, warning that Lebanese troops may intervene to stop the fighting that has left dozens dead and wounded.Najib Mikati’s call with Palestinian President Mahmoud Abbas came after days of sporadic clashes between Palestinian factions in the Ein el-Hilweh refugee camp near the southern port city of Sidon.Mikati called the fighting a “flagrant violation of Lebanese sovereignty” and said it was unacceptable for the warring Palestinian groups to “terrorize the Lebanese, especially the people of the south who have embraced the Palestinians for many years,” according to a statement released by his office.His call came as cautious calm returned to the camp and surrounding area Thursday after a night of renewed clashes.Lebanon’s largest Palestinian refugee camp, which is home to about 50,000 people, h...

13 injured in South Korea when a man rams a car onto a sidewalk, stabs pedestrians

Published Wed, 27 Nov 2024 07:25:46 GMT

SEOUL, South Korea (AP) — At least 13 people were injured in South Korea on Thursday when a man rammed a car onto a sidewalk and then stepped out of the vehicle and began stabbing people near a subway station in the city of Seongnam.Yoon Sung-hyun, an official from the southern Gyeonggi provincial police department, said at least nine people were stabbed and four others were injured by the vehicle. Police did not confirm whether any were in serious condition.Police were questioning an unidentified suspect who was arrested at the scene.In response to the attack, the National Police Agency said it would hold an online meeting later Thursday with regional police chiefs to discuss ways to deal with stabbings and other attacks against random targets. Last month, a knife-wielding man stabbed at least four pedestrians on a street in the capital, Seoul, killing one person, police said.The Associated Press

Bell saw Q2 net earnings fall 40% as it began layoff of 1,300 workers

Published Wed, 27 Nov 2024 07:25:46 GMT

MONTREAL — BCE Inc. says its net earnings tumbled almost 40 per cent in its most recent quarter as it began laying off 1,300 workers.The Montreal-based telecommunications company’s net earnings for the second quarter amounted to $397 million or 37 cents per common share compared with $654 million or 66 cents per common share a year ago.Analysts on average had expected an adjusted profit of 77 cents per share for the period ended June 30, according to estimates compiled by financial markets data firm Refinitiv.Adjusted net earnings totalled $722 million compared with $791 million a year prior.Operating revenue ticked up to $6.06 billion from $5.86 billion a year earlier.Bell attributed its increased costs to severance expenses, a higher interest rate environment and an obligation it had to repurchase at fair value the minority interest in one of its joint venture equity investments.This report by The Canadian Press was first published Aug. 3, 2023.Companies in this story: (TSX:...

Bank of England raises its key interest rate to a new 15-year high to fight inflation

Published Wed, 27 Nov 2024 07:25:46 GMT

LONDON (AP) — The Bank of England raised its main interest rate Thursday to a fresh 15-year high as it tries to bring down persistently high inflation, poised to bring more pain to people who are seeing rents and mortgages rise during a cost-of-living crisis.The quarter-percentage point increase to 5.25%, which was widely anticipated by economists, was the central bank’s 14th hike in a row. The bank saidsome of the risks from more stubborn inflation, notably higher wages, had “begun to crystallise,” leading it to push borrowing costs higher.There had been fears, certainly among hard-pressed households and businesses, that the bank would repeat its outsized half-point increase from June. But figures last month showing that inflation fell more than anticipated to 7.9% eased the pressure to act as aggressively again. “Inflation is falling and that’s good news,” Bank Gov. Andrew Bailey said. “We know that inflation hits the least well off the hardest, and we need to make absolutely sure...

Maple Leaf Foods reports $53.7M net loss in Q2 as company faces inflationary pressure

Published Wed, 27 Nov 2024 07:25:46 GMT

MISSISSAUGA, Ont. — Maple Leaf Foods Inc. says it lost $53.7 million in its most recent quarter as it grappled with inflation and other market headwinds.The Mississauga, Ont.- based food company’s net loss for the second quarter amounted to 44 cents per basic share compared with a net loss of $54.6 million or 44 cents per basic share a year earlier.Adjusted earnings for the period ended June 30 were $45.9 million compared with $23.6 million in the second quarter of last year.Sales in the quarter totalled $1.26 billion, up from $1.19 billion a year prior.Its meat business alone contributed the bulk of those sales, though Maple Leaf says its plant protein division made $36.7 million in sales during the quarter.The financial results come a day after the company’s board approved a quarterly dividend of 21 cents per share and 84 cents per share on an annual basis.This report by The Canadian Press was first published Aug. 3, 2023.Companies in this story: (TSX:MFI)The Canadian ...

Hundreds rally in Niger, denouncing France, as the country’s new junta seeks to justify its coup

Published Wed, 27 Nov 2024 07:25:46 GMT

NIAMEY, Niger (AP) — Hundreds of people rallied in support of Niger’s ruling junta in the capital on Thursday, denouncing France and others who have criticized a recent coup — as the country’s military leaders sought to exploit anti-Western sentiment to shore up their takeover.As numbers began to swell at a demonstration organized by the junta and civil society groups on Niger’s independence day, protesters in Niamey pumped their fists in the air and chanted out support for neighboring countries that have also seen military takeovers in recent years. Some waved Russian flags, and one man brandished a Russian and Nigerien flag sewn together.Last week’s coup toppled President Mohamed Bazoum — whose ascendency marked Niger’s first peaceful, democratic transfer of power since its independence from France. It has been accompanied by strident anti-French sentiment and raised questions about the future of the fight against extremism in Africa’s Sahel region, where R...

The extreme heat in Phoenix is withering some of its famed saguaro cactuses, with no end in sight

Published Wed, 27 Nov 2024 07:25:46 GMT

PHOENIX (AP) — After recording the warmest monthly average temperature for any U.S. city ever in July, Phoenix climbed back up to dangerously high temperatures Wednesday. That could mean trouble not just for people but for some plants, too.Residents across the sprawling metro are finding the extended extreme heat has led to fried flora, and have shared photos and video of their damaged cactuses with the Desert Botanical Garden. Nurseries and landscapers are inundated with requests for help with saguaros or fruit trees that are losing leaves.Phones have been “ringing nonstop” about everything from a cactus to a citrus tree or ficus, said Sophia Booth, a landscape designer at Moon Valley Nursery, which has nearly a dozen locations across the Phoenix suburbs.“A lot of people are calling and saying their cactus is yellowing really hard, fell over or like broken arms, that sort of thing,” Booth said. “Twenty-year-old trees are losing all their leaves, or they’re turning a crisp brown.”Sh...

6 months after the East Palestine train derailment, Congress is deadlocked on new rules for safety

Published Wed, 27 Nov 2024 07:25:46 GMT

WASHINGTON (AP) — Congress responded to the fiery train derailment in eastern Ohio earlier this year with bipartisan alarm, holding a flurry of hearings about the potential for railroad crashes to trigger even larger disasters. Both parties agreed that a legislative response was needed.Yet six months after life was upended in East Palestine, little has changed. While President Joe Biden and former President Donald Trump have praised a railroad safety bill from Ohio Sens. Sherrod Brown, a Democrat, and JD Vance, a Republican, the Senate proposal has also encountered resistance. Top GOP leaders in Congress have been hesitant to support it, and the bill has faced some opposition from the railroad industry, which holds significant sway in Washington. As a result, it remains an open question whether the derailment that shattered life in East Palestine will become a catalyst for action. And for Republicans, the fight poses a larger test of political identity, caught between their traditio...

Woman killed, 3 injured — including toddler — in shooting on South Side

Published Wed, 27 Nov 2024 07:25:46 GMT

CHICAGO — A woman has died, while 3 others remain hospitalized after a shooting on Chicago's South Side Wednesday evening.According to the Chicago Police Departments, officers responded to on the 1200 block of West 81st Street in the Auburn Gresham neighborhood on reports of a shooting just before 3:15 p.m. on Wednesday. VIDEO: School bus crashes into home on Northwest Side CPD reported that four victims were standing on the sidewalk on the 1200 block of West 81st Street when a Black vehicle with multiple suspects exited the car and began shooting.A 29-year-old man was shot in the foot and reportedly taken to a local hospital in good condition. Also, a 2-year-old boy was also shot in the foot and hospitalized in fair condition.A 62-year-old male reportedly was shot in the back and hospitalized in stable condition.CPD also reported that a 23-year-old woman was also shot multiple times and she was transported to a local hospital where she was later pronounced dead.No suspects have b...