Anheuser-Busch InBev, the world's largest beer brewer, canceled the $9 billion-plus Hong Kong IPO of its Asia-Pacific business, due to weak investor demand.
Why it matters: It was supposed to have been the year's largest global IPO, but instead became the year's largest global IPO flop. It's also a caution against breathless headlines about "oversubscribed" floats before they actually price. Now, it will be harder for InBev to reduce its $100 billion debt-load, and is likely to slow planned expansion in The Philippines, Thailand, and Vietnam.
The New Republic will no longer co-host a climate forum for Democratic presidential hopefuls following criticism over a now-retracted article attacking Pete Buttigieg.
The big picture: It's a stumble for efforts to deepen the election-cycle discussion of global warming.
By one measure, coffee has rarely had a better day — it is the beverage fashion of choice, conferring class, cachet and cool on its drinkers almost regardless of their age or station, leading to chronic lines out the door of cafes in country after country.
But that's only if you are a retailer or restaurateur: If you are growing the beans, it is a time of want, with prices at 14-year lows and farmers leaving the business in droves. Now, with what experts fear could be the collapse of a crop that has lifted numerous regions out of poverty, growers are making a new attempt to save themselves.
The New Republic pulled down an article on Saturday that criticized Democratic presidential candidate Pete Buttigieg — which its editor-in-chief Win McCormack described as "inappropriate and offensive."
Details: The article by openly gay literary critic Dale Peck described Buttigieg as "the gay equivalent of Uncle Tom" and referred to the South Bend, Indiana, mayor as "Mary Pete" throughout, per NBC News, which notes there was a swift backlash to Friday's piece on social media.
