Feb 25, 2019

Super Bowl ad spat threatens big brewers' joint campaign

Photo: Drew Angerer/Getty Images

A planned alliance between the world's big beer makers to lure consumers back to their beverages is at risk after Budweiser's parent AB InBev roasted MillerCoors in a series of Super Bowl commercials for its use of corn syrup, the Wall Street Journal reports.

The state of play: The traditional big brewers have lost market share in the U.S. as drinkers increasingly favor wine, spirits and craft beer, so a joint force of AB InBev, MillerCoors, Heineken and Constellation Brands had planned a joint effort to promote their products. But AB Inbev's ads pushed MillerCoors to drop out of a meeting for the project next month — with MillerCoors' communications head telling the WSJ that the ads could actually serve to harm the wider beer sector.

From Cesar Vargas, VP of legal and corporate affairs for Anheuser-Busch:

“We, along with other members of our industry, remain fully committed to strengthening the beer category and our joint efforts to highlight the very positive impact that beer has on our economy and in our communities will continue as planned.”

Go deeper: The rise of no-alcoholic beer

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Coronavirus dashboard

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  1. Global: Total confirmed cases as of 5 p.m. ET: 1,331,032 — Total deaths: 73,917 — Total recoveries: 275,851Map.
  2. U.S.: Total confirmed cases as of 5 p.m. ET: 356,942 — Total deaths: 10,524 — Total recoveries: 18,999Map.
  3. 2020 update: Wisconsin governor orders in-person primary voting delayed until June.
  4. States latest: West Coast states send ventilators to New York and other states with more immediate need — Data suggest coronavirus curve may be flattening in New York, Gov. Andrew Cuomo said.
  5. World update: U.K. Prime Minister Boris Johnson moved to intensive care as coronavirus symptoms worsen.
  6. Stocks latest: The S&P 500 closed up 7% on Monday, while the Dow rose more than 1,500 points.
  7. What should I do? Pets, moving and personal health. Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

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Stocks jump 7% despite bleak coronavirus projections

People passing by the New York Stock Exchange amid the coronavirus pandemic. Photo: John Nacion/NurPhoto via Getty Images

The S&P 500 closed up 7% on Monday, while the Dow rose more than 1,500 points.

Why it matters: The huge market surge comes amid rare optimistic signs that the spread of the coronavirus may be slowing in parts of the country, including New York. But government officials say this will be a difficult week, while economists — including former Fed chair Janet Yellen today — warn that the pandemic could have a catastrophic impact on the global economy.

Boris Johnson moved to intensive care as coronavirus symptoms worsen

Photo: Peter Summers/Getty Images

U.K. Prime Minister Boris Johnson has been taken to the intensive care unit of St. Thomas Hospital in London due to increasingly severe coronavirus symptoms.

The backdrop: Johnson was admitted to the hospital on Sunday for what Downing Street called "routine tests" because his condition had not improved 10 days after he tested positive for the virus. His condition has since "worsened," according to a statement, and Foreign Secretary Dominic Raab will step into his place "where necessary."

Go deeperArrow3 hours ago - World