RICHMOND, Va. — Helping to quench a growing thirst for American craft beer overseas, some of the United States’ largest craft breweries are setting up shop in Europe, challenging the very beers that inspired them on their home turfs.
It’s the latest phenomenon in the flourishing craft beer industry, which got its start emulating the European brews that defined many of the beer styles we drink today.
Still believe that China's PMI is above 50 and suggesting a global growth expansion? Still believe in Santa and the Tooth Fairy? Well, none other than China's own National Bureau of Statistics has been forced to admit that at least one of its major provinces has dramatically overstated industrial output. As Sina reports, according to a NBS report, the government in China's Yunnan province had coerced local companies to report inflated industrial output value, resulting in artificially high economic figures.
Trina Solar Limited (ADR) (TSL) stock rallied 5.59% yesterday and closed at $13.23. The stock surged after the company announced to buy 90% stake in Yunnan Metallurgical New Energy Co., a Chinese power plant developer. The parent firm will retain the remaining stake in the company. The decision to takeover Yunnan is in line with Trina’s efforts to expand into the growing Chinese market.
Anheuser Busch InBev SA (BUD) announced yesterday, that it had reached an agreement with private equity group KKR & Co. LP (KKR) and Affinity Equity Partners to repurchase South Korea’s Oriental Brewery for $5.8 billion.
The deal would mark a return of the world’s largest alcoholic beverage maker – known for brands such as Budweiser - to the lucrative Asian market, which has seen robust demand for beer and spirits in recent years. Shares of InBev, which is listed on the NYSE as an ADR, jumped 3% in pre-market hours following the news.
Mannequins in riot gear, armoured cars and drones line a police equipment and "anti-terrorism technology" trade fair in Beijing as vendors seek to profit from China's huge internal security budget. The country is estimated to have more than 180,000 protests each year and the ruling Communist Party spends vast sums on ensuring order -- more even than on its military, the largest in the world.
Brooklyn Brewery is building another plant about 4,000 miles away, all the way across the Atlantic. The 8,000 barrel brewery will be in Stockholm, Sweden, and it should be open by the end of 2013. The plant and restaurant will look over Stockholm's harbor. So, why Sweden?