Morning Business Report: Bud Light contractor to shut down two bottling plants
A major contractor for Ahneuser-Busch, the maker of Bud Light, is shutting down two of its glass bottling plants in the United States. The Ardagh Group is one of the largest glass producers in the world, with over 100 plants in operation. These shut downs come after a decline in sales, following the marketing partnership between Bud Light and trans influencer Dylan Mulvaney. According to the New York Post, workers at both plants noticed a decrease in production amid the backlash. The two plants slated to shut down are located in South Carolina and Louisiana. About 600 employees will be laid off.
From the start of 2023 through June 30, the domestic box office has tallied $4.5 billion in movie ticket sales. Although that’s a 20% increase over the same time period in 2022, it still lags behind pre-pandemic 2019. But, we’re only through the first half of the year. Box office experts noted that the second half of 2023 still has several big releases coming up, including “Barbie”, “Oppenheimer”, “The Exorcist: Believer”, and “Dune: Part Two”.
Stocks edged higher in a shortened trading session Monday.
The U.S. stock market was closed yesterday for Independence Day.
The Barbie movie has found itself in the middle of a political firestorm abroad. Vietnam has banned the film for using a map that depicts the South China Sea. Both China and Vietnam have claimed this territory as their own. China says it has historical ties to the area of the South China Sea. According to researchers, China has used popular media to legitimize its claims in recent years.
Nearly half of car buyers in the U.S. plan to go electric within the next two years. Analysts at Ernst and Young surveyed 1,500 U.S. consumers in March. They found that 48% of vehicle buyers plan to purchase an EV, representing a nearly 20% jump from last year’s survey.
