ABI.BR - Anheuser-Busch InBev SA/NV

Brussels - Brussels Delayed Price. Currency in EUR
70.71
+0.72 (+1.03%)
At close: 5:35PM CET
Stock chart is not supported by your current browser
Previous Close69.99
Open70.47
Bid0.00 x 0
Ask0.00 x 0
Day's Range70.31 - 71.47
52 Week Range63.76 - 92.71
Volume1,799,740
Avg. Volume1,568,430
Market Cap137.059B
Beta (5Y Monthly)N/A
PE Ratio (TTM)14.99
EPS (TTM)N/A
Earnings DateFeb. 27, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est99.21
  • Regulators could sink AB InBev's $11 bln asset sale to Asahi
    Reuters Videos

    Regulators could sink AB InBev's $11 bln asset sale to Asahi

    The world's biggest brewer has a debt pile to match: around 100 billion dollars of it. But AB InBev's plans to pay down some of that by selling its Australia operations to Asahi may be in jeopardy. Australian regulators say a new combined entity would control two thirds of the local cider market. And could also raise competition concerns in the beer market there. AB's debt mountain stems largely from buying out rival SABMiller in 2016. The Belgian giant has been selling assets and took its Asian business public this year to raise funds. And hoped to close the 11 billion dollar sale of its Carlton & United Breweries arm in Australia in the first quarter of 2020. The deal would turn Japan's Asahi into the world number 3 - behind AB and Heineken. Regulators though say they won't make a final decision until March - one analyst told Reuters the deal's unlikely to get passed. The news left shares in both parties down over a per cent in early trading on Thursday (December 12).

  • Beer suds to soap suds: alcohol turns into detergent
    Reuters Videos

    Beer suds to soap suds: alcohol turns into detergent

    Alcohol-free beer is getting ever more popular. But that leaves brewers with a problem: what to do with all the booze removed from their beers? Now AB InBev thinks it's found a solution. It's teamed up with detergent maker Ecover to turn the leftover or 'rest' alcohol into washing-up liquid: David De Schutter is AB InBev's European head of innovation: (SOUNDBITE) (English) INBEV EUROPEAN INNOVATION AND TECHNICAL DEVELOPMENT DIRECTOR, DAVID DE SCHUTTER, SAYING: "In the beginning, when we were producing non-alcoholic beer, we had very little quantities of rest alcohol. So there was no real partners to find (to upcycle). But as those amounts were growing the brewery was asking us 'ok, what can we do with the alcohol, because it's piling up." The alcohol comes from AB InBev's Leffe and Jupiler brands. It makes up about a quarter of the resulting detergent. EcoVer developed the upcycling technique. Head of Innovation Tom Domen says there was one big problem: (SOUNDBITE) (English) ECOVER HEAD OF INNOVATION, TOM DOMEN, SAYING: "There's still a little bit of the beer smell that was in the alcohol. So this for us was also a challenge in, how can we mask that smell to make sure our product still smells nicely when you're doing your dishes. You don't want the kind of beer smell on your dishes." Now the brewer is finding other uses for its waste. About 1.3 million tonnes of leftover grains go the cattle industry for feed.

  • Bloomberg

    AB InBev Turns to Solar Power as South Africa Suffers Blackouts

    (Bloomberg) -- Sign up to our Next Africa newsletter and follow Bloomberg Africa on TwitterAnheuser-Busch InBev is installing solar panels at South African breweries in a push to reach global environmental goals that comes as state-owned utility Eskom Holdings SOC Ltd. struggles with blackouts.The brewer of Budweiser beer said it’s joined an 18 billion rand ($1.3 billion) pan-African plan to generate more energy from environmentally friendly sources. The solar panels in South Africa are just one part of the initiative, which includes partners and spans the region.The world’s biggest brewer has set a global target of securing all of its purchased energy from renewable sources by 2025. The company this month partnered with others in Europe to tap green power from BayWa r.e., a German renewable energy developer.The latest move comes as Eskom has had to institute rolling electricity blackouts due to operational problems. That has prompted South African companies to secure electricity through other means, although regulations require them to buy some of their power from the utility.“We can’t do 100% renewable power in Africa at this stage” because of the sourcing rules and the instability of some power grids, said Taryn Rosekilly, vice president for sustainability at AB InBev Africa.AB InBev is completing solar electricity projects at seven South African manufacturing sites and also testing electric trucks for deliveries.Solar power at the breweries will provide 10% to 15% of the energy needs of AB InBev’s South African businesses and costs 15-20% less than buying electricity generated by Eskom, the company says. Other green power generation options being considered include wind and converting liquid waste produced by the breweries into gas.By the end of this year, AB InBev plans to use wind and solar power at a malting plant in Caledon, in South Africa’s Western Cape province. It will be the first South African site using 100% renewable energy.To contact the reporter on this story: Janice Kew in Johannesburg at jkew4@bloomberg.netTo contact the editors responsible for this story: Eric Pfanner at epfanner1@bloomberg.net, John LauermanFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • 115 cannabis drink companies are taking aim at booze and soda
    Yahoo Finance Canada

    115 cannabis drink companies are taking aim at booze and soda

    Beer, wine and spirit giants and small startups alike are betting on cannabis beverages disrupting the drinks market with products that can soothe sore muscles after a workout, or deliver a hangover-free buzz. 

  • Here's How We Evaluate Anheuser-Busch InBev SA/NV's (EBR:ABI) Dividend
    Simply Wall St.

    Here's How We Evaluate Anheuser-Busch InBev SA/NV's (EBR:ABI) Dividend

    Is Anheuser-Busch InBev SA/NV (EBR:ABI) a good dividend stock? How can we tell? Dividend paying companies with growing...

  • AB InBev’s CFO Felipe Dutra May Be Stepping Down After 15 Years
    Bloomberg

    AB InBev’s CFO Felipe Dutra May Be Stepping Down After 15 Years

    (Bloomberg) -- Anheuser Busch InBev’s Felipe Dutra may step down after about 15 years as chief financial officer of the world’s largest brewer, a person familiar with the matter said.Succession planning is routine for officials at his level, according to the person, who asked to remain anonymous as the information isn’t public. Timing of the change isn’t known and Nelson Jamel, the company’s financial head for North America, is one of a number of people under consideration as a replacement, the person said.AB InBev has disappointed investors as Chief Executive Officer Carlos Brito reported earnings below analysts’ estimates in four of the past eight quarters. Brito halved the brewer’s dividend payout in 2018 amid sluggish progress on debt reduction following the acquisition of SABMiller in 2016, although moves such as the disposal of the Asian business are aimed at cutting borrowings.The shares fell as much as 1% in Brussels Wednesday.The Financial Times reported earlier that AB InBev was considering replacing Dutra. A company representative declined to comment. A call to Dutra’s office after business hours wasn’t answered.(Updates with shares in fourth paragraph)To contact the reporter on this story: Thomas Buckley in London at tbuckley25@bloomberg.netTo contact the editors responsible for this story: Eric Pfanner at epfanner1@bloomberg.net, John Lauerman, Jonathan RoederFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.

  • Baystreet

    This Top Dividend Stock Is Down 11%

    Anheuser-Busch InBev (NYSE:BUD) stock has fallen by 11% over the past three months as a poor earnings ...

  • 5 pot sector trends to watch in 2020, U.S. looks brighter than Canada
    Yahoo Finance Canada

    5 pot sector trends to watch in 2020, U.S. looks brighter than Canada

    For the most part, 2019 was a year to forget for the cannabis sector. 

  • Five Things to Watch in European Food and Drink Stocks in 2020
    Bloomberg

    Five Things to Watch in European Food and Drink Stocks in 2020

    (Bloomberg) -- A stellar start to 2019 for food and drink stocks largely fizzled out in the second half of the year, and Unilever’s recent sales warning has left a cloud hanging over the sector outlook for 2020.Despite a lackluster few months, the Stoxx 600 Food & Beverage index is still on course for its best year since 2009, with a 27% gain slightly outperforming the region’s main gauge. But after what Citigroup Inc. described this month as one of the worst staples earnings seasons of the past 20 years, investors have become unsettled, not helped by this month’s announcement by Unilever that revenue will be in the lower half of its guidance range in 2020.In beverages, beer stocks were hot in 2019, led by a surge in Carlsberg A/S, but 2020 may be a better year for spirits, which are ripe for a rebound thanks to elements such as emerging-markets growth and continuing high levels of cash returns, according to Citi analyst Simon Hales. Brewers should get a boost from the UEFA Euro 2020 soccer tournament starting in June, in particular sponsor Heineken NV.Below are five things for investors to watch in 2020:More M&A (and an IPO?)Expect staples giants to continue reshaping their portfolios after Nestle SA’s divestment of U.S. ice cream and Herta meats, and Anheuser-Busch InBev NV’s Asian IPO in 2019.Unilever’s new Chief Executive Officer Alan Jope must make “sharper decisions” on this front, and the company’s food & refreshment brands could be the focus of disposals, according to Jefferies analyst Martin Deboo. Nestle also may shed more assets, with Buitoni pasta in the U.S. being one potential candidate, says Vontobel Holding AG’s Jean-Philippe Bertschy. Meanwhile, JAB Holding Co. is mulling an initial public offering of its coffee business in Amsterdam, which could raise as much $3.4 billion.In beverages, Aperol maker Campari SpA is still scouting for acquisitions and AB InBev also may return to M&A after making inroads on debt, with the buyout of Castel Group an often-touted target. Still, a dearth of big M&A candidates may be a bigger problem for beverage companies, according to Sanford C. Bernstein analyst Trevor Stirling.Healthy Munching and BoozeAfter January’s introduction of a vegan sausage roll by Greggs Plc and a new plant-based burger by Nestle, healthier eating (and drinking) will remain a focus in 2020.Consumers, companies and investors alike are showing increased interest in environmental, social and governance issues and healthier lifestyles, and this continues to accelerate, according to Eddy Hargreaves, an analyst at Investec Wealth & Investment Ltd.Stocks to watch include Kerry Group Plc, whose flavors and fragrances might help food and beverage companies develop new products with less sugar, according to Berenberg analysts. They also give a mention to sports nutrition leader Glanbia Plc and to AB InBev and Molson Coors Brewing Co. for their low-calorie beer offerings.Drinks such as Diageo Plc’s Ketel One Botanical (vodka infused with natural fruit essences, no artificial sweeteners and no added sugar) are gaining traction in the U.S. because of their low-calorie content, while no- or low-alcohol beer remains popular in Europe, says Berenberg analyst Javier Gonzalez Lastra.China and More ChinaThe outlook for a China-U.S. trade deal may have brightened, but the threat of U.S. tariffs will continue weighing on the likes of Remy Cointreau SA and Pernod Ricard SA. There are direct potential impacts such as tariffs on single-malt Scotch whisky, which would disadvantage single malts compared with other spirits, but there are also indirect tariffs as companies pass the higher input costs onto consumers, according to Liberum analyst Nico Von Stackelberg.“It’s a bit like having a higher oil price,” he says. “The net impact is less money in the wallet after all essentials are paid for.”Social upheaval in Hong Kong will also remain a drag for these and other stocks. China is a key growth engine and executives will continue strategizing on how best to grow there after deals such as Heineken’s partnership with China Resources Beer Holdings Co. in 2019.There’s another new threat coming from China in the form of local premium brands that finally seem to be taking off there, Berenberg’s fivGonzalez Lastra said. “Consumers appear more open about embracing Chinese champion brands,” he said.Hard Seltzers, Gin and CannabisAnalysts are wondering whether the mania of U.S. millennials for low-calorie, low-carb hard seltzers, a mix of water, alcohol and fruit flavors, can ever catch on with Europeans too. Questions also linger on whether the current gin craze in Europe will last and whether rum could be the next big thing.One thing’s for sure: in 2020 investors will continue closely tracking developments made on cannabis-infused drinks. A joint venture between Tilray Inc. and AB InBev is currently introducing cannabis-infused teas in Canada, soon to be followed by carbonated soft drinks also containing pot, according to Bryan Garnier & Co.Last but not least, one product that’s nowhere close to falling out of favor is chocolate, but even in this field innovation matters: Barry Callebaut AG’s ruby chocolate recently won U.S. regulatory approval.PremiumizationU.S. Nielsen data has been closely watched among Fevertree Drinks Plc analysts this year as they gauge the growth potential for premium mixers in that market. The acceleration of growth in the second half of 2019 bodes well going into the new year, according to Berenberg.Meanwhile, Pernod Ricard SA has been ramping up its purchases of premium liquor brands. The Paris-based company bought the owner of the TX American whiskey and bourbon brands in August, as well as the Malfy Italian gin brand in April. Jefferies called Pernod “one of the few remaining change stories within beverages,” with the shift toward premium spirits continuing to be strong, while Citigroup upgraded the stock to buy this month, predicting a pick-up in trading momentum in the last three quarters of fiscal 2020.\--With assistance from Phil Serafino.To contact the reporters on this story: Albertina Torsoli in Geneva at atorsoli@bloomberg.net;Lisa Pham in London at lpham14@bloomberg.netTo contact the editors responsible for this story: Beth Mellor at bmellor@bloomberg.net, Paul Jarvis, Namitha JagadeeshFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.

  • A Festive Warning for World's Favorite Liquor
    Bloomberg

    A Festive Warning for World's Favorite Liquor

    (Bloomberg Opinion) -- Growing up in the U.K. in the 1980s, the Christmas season was associated with particular foods and drinks. Pies made from fruit “mincemeat”; the same dried fruits cooked into Christmas pudding; grandparents passing round glasses of sherry.Believe it or not, that nostalgic memory hints at a long-term risk to the most bullish corner of the global liquor market: China’s sorghum-based firewater, baijiu.The past few years have seen extraordinary growth for baijiu makers. Kweichow Moutai Co., the maker of the most prestigious brand, overtook Diageo Plc to become the world’s biggest distiller by market capitalization in 2017. Now it’s in a whole other league, overtaking even Anheuser-Busch InBev SA and PepsiCo Inc. on that measure and within spitting distance of taking Coca-Cola Co.’s crown as the world’s largest beverage company.What’s more, this success has been built on the back not of a valuation bubble, but of relatively pedestrian assumptions about earnings. Kweichow Moutai is on a lower price-earnings multiple than Brown-Forman Corp., Davide Campari-Milano SpA and Remy Cointreau SA. Luzhou Laojiao Co. is cheaper on that measure than any major western distiller.What could possibly put a cloud on the horizon of this thriving market? The most serious looming risk is embodied in those nostalgic memories of a British Christmas: demographics.Throughout baijiu’s boom, it’s struggled to shake the perception that it’s primarily a drink for older men. Its former image as an unofficial currency of corrupt government officials has receded since a campaign against official graft in the early years of President Xi Jinping’s reign. Still, the connotations of rich older men exchanging drunken toasts remain, even if the drinkers in the stereotype are now more likely to be employed in the private than the public sector.“Many young people still think that baijiu isn't for them, that no matter the flavor, it's not a drink for the young,” according to a China Daily article this year. “Drinking baijiu is increasingly seen as a dated behavior by younger Chinese uninterested in banquets and bravado,” wrote Jing Daily, a site specializing in the Chinese luxury market.That association with oldsters is a problem Spain’s sherry industry has been enduring for several decades. In the 1970s and 1980s, exports to the U.K., the Netherlands and the U.S. boomed in an unprecedented manner, to the point that bodega conglomerate Rumasa was reported to account for as much as 2% of Spanish GDP.Since then it’s been in long-term decline. Sherry’s core consumers outside Spain have reached a more abstemious age or died out, while younger drinkers shun a product they associate with their grandparents. For all that many wine connoisseurs sing its praises and lament sherry’s fall from grace, it’s hard to see the glory days returning.This trajectory is a common one in the alcohol business, which lives and dies on the changing demographics of its consumers. One reason Japan’s brewers have been so desperate to acquire overseas businesses while Vietnamese ones have been M&A targets is that beer is drunk by thirsty workers, and Japan’s labor force is declining while Vietnam’s is rising. The same goes for clear spirits like baijiu. Its success is hard to separate from the fact that China’s population of men aged 40 to 60 increased by more than half over the past two decades, adding about 78 million people to the core baijiu-drinking market. That demographic is set to stagnate over the coming decade, though, before beginning an accelerating decline after 2030.To the extent that the industry is making any inroads with women and younger people, it’s in lower-cost, lighter-flavored “rice aroma” products where margins are tighter. The giant listed baijiu-makers specialize in the complex, higher-cost “sauce aroma” and “strong aroma” varieties such as Maotai and Luzhou Laojiao, which is quite a different product.This needn’t be the end of the world. The drinks market’s best defense against unfavorable demographics is “premiumization” — counting not on a larger number of consumers, but a small group paying more and more. Premiumization is already the strategy of the high-end listed baijiu companies, so there's no reason they can’t keep going with it.Still, chasing the luxury market is notoriously expensive in marketing terms, and baijiu makers for years have been able to rely on a product that sells itself.Major distillers typically dedicate a third or more of their revenue to selling, general and administrative costs — mostly marketing and distribution. Baijiu makers are far more thrifty, one reason their profit margins are so much fatter than those of peers. As their core demographic ages out of its drinking habit, though, they’re likely to have to spend more and more converting younger drinkers.Every cellar manager knows that liquors can get better with age, but the process of maturation has to be carefully monitored and cultivated if the precious drink isn’t to turn into drain-cleaner. Marketing departments of baijiu companies will have to be no less careful over the coming decades maintaining the shine on their storied brands. To contact the author of this story: David Fickling at dfickling@bloomberg.netTo contact the editor responsible for this story: Matthew Brooker at mbrooker1@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.David Fickling is a Bloomberg Opinion columnist covering commodities, as well as industrial and consumer companies. He has been a reporter for Bloomberg News, Dow Jones, the Wall Street Journal, the Financial Times and the Guardian.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • How NFL sponsor Bud Light took advantage of an NFL beer fine
    Yahoo Finance

    How NFL sponsor Bud Light took advantage of an NFL beer fine

    Bud Light, one of the biggest NFL sponsors, managed to turn an NFL fine against a Ravens player into a marketing win.

  • Is There An Opportunity With Anheuser-Busch InBev SA/NV's (EBR:ABI) 47% Undervaluation?
    Simply Wall St.

    Is There An Opportunity With Anheuser-Busch InBev SA/NV's (EBR:ABI) 47% Undervaluation?

    Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Anheuser-Busch InBev...

  • Market Exclusive

    Fluent Launches CBD-Infused Beverage Brand in Canada

    Fluent Beverages, a Canadian joint venture between Tilray (NASDAQ: TLRY) and AB InBev (NYSE:BUD), has unveiled Everie, the company’s first non-alcoholic CBD-infused beverage. Everie is a 98 percent pure CBD-infused beverage with all-natural flavors. It is manufactured in partnership with High Park at its cannabis facility in London, Ontario, Fluent said in a statement. "We […]The post Fluent Launches CBD-Infused Beverage Brand in Canada appeared first on Market Exclusive.

  • AB InBev's $11 billion Aussie asset sale to Asahi hits hurdle
    Reuters

    AB InBev's $11 billion Aussie asset sale to Asahi hits hurdle

    AB InBev's planned sale of Carlton & United Breweries (CUB) is part of the world's largest brewer's drive to lower debt after buying SABMiller in 2016. "The proposed acquisition would combine the two largest suppliers of cider in a highly concentrated market," the Australian Competition and Consumer Commission (ACCC) said in its preliminary view, adding the combined business would control about two thirds of cider sales in the country. Asahi might also act as a competitive constraint on the two largest beer brewers in Australia - CUB and Lion - and has "the potential to be an even bigger threat in future," the ACCC said.

  • Business Wire

    Sentera and AB InBev Partner for Sustainability and Grower Empowerment

    Sentera today announced a long-term partnership with Anheuser Busch InBev SA/NV (‘AB InBev’), under which Sentera will deliver critical enabling technology for AB InBev’s SmartBarley platform which helps growers improve their productivity and secure the supply chain of the future.

  • The biggest deals and attempted deals of the 2010s 
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    The biggest deals and attempted deals of the 2010s 

    As 2019 ends with major deals, Yahoo Finance looks back at the decade on the mergers and acquisitions in Corprorate America.

  • Is Anheuser-Busch InBev SA/NV (EBR:ABI) Investing Effectively In Its Business?
    Simply Wall St.

    Is Anheuser-Busch InBev SA/NV (EBR:ABI) Investing Effectively In Its Business?

    Today we'll look at Anheuser-Busch InBev SA/NV (EBR:ABI) and reflect on its potential as an investment. Specifically...

  • Exclusive: AB Inbev explores options for packaging ops - sources
    Reuters

    Exclusive: AB Inbev explores options for packaging ops - sources

    NEW YORK/FRANKFURT (Reuters) - Anheuser-Busch InBev , the world's largest brewer, is exploring options for its packaging activities as it streamlines its portfolio and focuses on its core beverage business, sources close to the matter said. The company is working with Deutsche Bank on a deal for its U.S.-based canning activities which AB InBev inherited when it bought Anheuser Busch in 2008, the people said. Deutsche Bank has been hired to explore a sale of a minority stake or a joint venture for AB InBev's North American bottling and canning activities which could be worth $5-6 billion, one of the people said, adding that it was not aiming for an outright sale.

  • Beer suds to soap suds: waste alcohol finds use in green detergent
    Reuters

    Beer suds to soap suds: waste alcohol finds use in green detergent

    The next time you wash your dishes, you could find yourself up to your elbows in soap suds spiked with leftover alcohol, if the world's largest brewer and a environmentally friendly detergent firm have their way. Growing interest in alcohol-free lager, driven by demand for healthier drinks, had left Anheuser-Busch InBev with a problem - what to do with all the alcohol sucked out of its beer. "The brewery was asking us what can we do with the alcohol, because it's piling up, it's a large quantity, that's why we were looking for partners," AB InBev's innovation and technology director for Europe, David De Schutter, told Reuters.

  • GlobeNewswire

    Calling All Holiday Gifters: The Drinkworks Home Bar by Keurig® Is Now Expanding Across the U.S.

    The company additionally announced that cocktail enthusiasts in Arizona, Washington, Minnesota, Nevada, Maryland and the District of Columbia now have the opportunity to preorder the Drinkworks Home Bar by Keurig®, with fulfillment beginning in 2020. The Drinkworks Home Bar by Keurig is a first-of-its-kind system that combines innovation and user-centric design, making it easy for consumers to prepare a variety of freshly made, bar-quality cocktails at home with the touch of a button. The Drinkworks Home Bar by Keurig calculates the precise amount of water and carbonation needed for each proprietary Drinkworks pod to deliver an exceptional cocktail experience every time.

  • GlobeNewswire

    Calling All Cocktail Enthusiasts: Drinkworks and Brown-Forman Announce Partnership to Develop Co-Branded Cocktails

    Today, beverage innovation company Drinkworks® and spirits and wine company Brown-Forman Corporation announced a partnership to develop signature cocktails for use in the Drinkworks Home Bar system. With the Brown-Forman and Drinkworks partnership, consumers will be able to enjoy their favorite cocktails made with their favorite brands.

  • 4 Days Left Until Anheuser-Busch InBev SA/NV (EBR:ABI) Trades Ex-Dividend
    Simply Wall St.

    4 Days Left Until Anheuser-Busch InBev SA/NV (EBR:ABI) Trades Ex-Dividend

    Regular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see...

  • Bloomberg

    Al Gore’s Fund Leads $400 Million Deal With Trucking Startup

    (Bloomberg) -- In the four years since it was founded, Convoy Inc. has assembled a lineup of big-name investors that includes Bill Gates, Jeff Bezos and Marc Benioff. It’s adding one more to the list: Al Gore.The former U.S. vice president’s sustainability-focused investing fund, Generation Investment Management LLP, led a $400 million funding round for Convoy, which makes software to connect freight shippers with truck drivers. T. Rowe Price Group Inc. co-led the investment with Gore’s firm, Convoy said Wednesday. The deal values the startup at $2.75 billion.Convoy is often described as “Uber for trucking”—a moniker that took hold before Uber Technologies Inc. set up a competing business. Uber has committed to hire 2,000 people to expand freight operations in Chicago. Another rival business in the United Arab Emirates, Trukker, said Tuesday it received a $23 million investment led by a Saudi Arabian venture capital fund.A big part of Convoy’s pitch is that it can improve the trucking business by making it more efficient, both financially and environmentally. Transportation is the largest source of U.S. emissions today, and heavy-duty trucks represent about 13% of those emissions. Convoy’s service is designed to eliminate unnecessary driving by ensuring trucks can get loads on each trip. The business isn’t yet profitable, but Dan Lewis, the chief executive officer, has said it will be eventually.Customers include Procter & Gamble Co. and Anheuser-Busch InBev NV. Among the investors in the new funding round are Alphabet Inc.’s CapitalG, Baillie Gifford, Durable Capital Partners, Fidelity Investments and Lone Pine Capital. The new funds are expected to help the company accelerate its expansion and fend off competition from upstarts, as well as the likes of J.B. Hunt Transport Services Inc.\--With assistance from Dina Bass and Thomas Black.To contact the reporter on this story: Emily Chasan in New York at echasan1@bloomberg.netTo contact the editors responsible for this story: Mark Milian at mmilian@bloomberg.net, Anne VanderMeyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Tilray sees global medical pot as ‘good hedge’ against Canadian risk
    Yahoo Finance Canada

    Tilray sees global medical pot as ‘good hedge’ against Canadian risk

    The Nanaimo, B.C.-based company posted a deeper than expected loss for the three months ended on Sept. 30.

  • Investing.com

    Stocks - Linde, Walt Disney Rise Premarket; Tyson Foods Slumps

    Investing.com - Stocks in focus in premarket trading on Tuesday: