The Budweiser brewer reported a sharp drop in second-quarter sales as beer consumption across much of the world dropped
Anheuser-Busch InBev NV reported a sharp drop in second-quarter sales as beer consumption across much of the world dropped and took a $2.5 billion write-down on its business in South Africa, where alcohol sales have been banned.
Still, revenue topped analyst estimates, and AB InBev—which makes one out of every four beers sold globally—said its performance was improving rapidly. Though volumes fell 32% in April and 21% in May, they rose 0.7% from a year earlier in June.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Japan expresses regret over WTO panel on trade dispute with South KoreaJapan's trade ministry on Thursday expressed regret over the World Trade Organization's decision to set up a panel to rule on Tokyo's export curbs on some technology materials to South Korea, in an escalating dispute stemming from wartime history.
Read more »
‘Definition Please’ Trailer: ‘Insecure’ Alum Sujata Day Makes Directorial Debut With South Asian Family DramedyEXCLUSIVE: Known for her role as Sarah from the “We Got Y’all” gang in the newly-nominated HBO series Insecure, Sujata Day makes her feature directorial debut with the South Asian…
Read more »
6 States In South, West Break Records For Coronavirus DeathsIn the United States, more than 1,300 lives were lost on Tuesday, the biggest one-day increase since May.
Read more »
South Korea launches safety probe into Tesla vehiclesSouth Korea said it is investigating suspected safety issues with vehicles made by U.S. automaker Tesla Inc , which is competing strongly with Hyundai Motor Co in the South Korean electric vehicle market.
Read more »
South Korea's July exports seen falling for fifth month on weak global demand: Reuters pollSouth Korea's exports likely contracted for a fifth straight month in July as global demand remained weak despite the easing of coronavirus-related lockdowns, a Reuters poll showed on Wednesday.
Read more »
Asia Today: China, South Korea see upticks in virus casesBEIJING (AP) — China reported more than 100 new cases of COVID-19 on Wednesday as the country continues to battle an outbreak in Xinjiang. The 101 new cases was China's highest daily...
Read more »