Épisodes

  • Beer and booze fall victim to President Trump’s trade war

    Beer and booze fall victim to President Trump’s trade war
    May 9 2025
    During President Trump’s first 100 days in office, businesses, investors, consumers, as well as US allies and foes, have been riding a roller coaster, as he imposed and then suspended some reciprocal tariffs on imports at breakneck speed. The chaos and uncertainty unleashed by the tariffs has somewhat abated thanks to Mr Trump pressing the 90-day-pause button on levies above 10%. But what will happen should his administration fail to hash out major trade deals by early July is anybody’s guess. In this podcast Ina Verstl and Ernst Faltermeier analyse the current situation and discuss the actual and potential impact of tariffs on brewers, drinks firms, and consumers. They also remind listeners of what happened when during Mr Trump’s first presidency a trade spat with the European Union led to the imposition of tariffs on Scotch single malt in the US and American whiskies in the EU: Both Scotch whisky and American whiskies lost hundreds of millions of dollars in sales. Will history repeat itself?
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    15 min
  • Heineken Austria in the anti-trust crosshairs

    Heineken Austria in the anti-trust crosshairs
    Jul 12 2024
    The Austrian Federal Competition Authority seeks to fine Dutch Heineken and its Austrian subsidiary Brau Union potentially billions of euros for market abuse and violations of the anti-trust ban. In June, the watchdog submitted a 260-page application for an “appropriate fine” to the cartel court. It had found evidence that the beer market leader Brau Union “cemented” its dominant position by using unlawful methods. In this podcast Ina Verstl and Ernst Faltermeier discuss the case, while drawing attention to Europe’s brewers and their previous cartel shenanigans. They wonder why Heineken Austria has been kept on a long leash and allowed to operate a vast number of breweries, while its parent has closed production plants right, left, and centre across the continent.
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    15 min
  • Wines and spirits have often become pawns in geopolitical spats - and why beer is mostly spared

    Wines and spirits have often become pawns in geopolitical spats - and why beer is mostly spared
    Feb 29 2024
    In January, the Chinese government launched an anti-dumping inquiry into all brandy and cognac imported from the EU. Cognac producers deny the allegation. In reality, they have been caught in the crossfire of a tit-for-tat trade dispute between Brussels and Beijing. By targeting cognac, China is expressing its displeasure not just with the EU’s probe into China’s subsidies for electric vehicles, but also with the EU Commission’s plans to de-risk the bloc's bilateral relations with China. In this podcast Ina Verstl and Ernst Faltermeier look at trade disputes past and present and explain why wines and spirits make for ideal targets in cross-retaliatory measures and punitive tariffs.
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    18 min
  • Modelo Especial’s seemingly unstoppable rise to the top spot in the US beer market and why luck still played a big part

    Modelo Especial’s seemingly unstoppable rise to the top spot in the US beer market and why luck still played a big part
    Nov 6 2023
    The brewer of Modelo Especial, Constellation Brands, struck it lucky twice in the past 30 years: first in 1996, when Mexico’s Grupo Modelo awarded them an evergreen contract to import Corona Extra into the US; then in 2013 after trustbusters at the US Department of Justice forced a settlement on AB-InBev during its takeover of Grupo Modelo, which turned Constellation into an independent, fully integrated, and economically viable beer industry competitor. In this podcast Ina Verstl and Ernst Faltermeier lift the fog of history and tell an exciting story.
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    18 min
  • From brewers’ Russia exit to AB-InBev's Bud Light fiasco: If only boards had crystal balls to deal with political risks

    From brewers’ Russia exit to AB-InBev's Bud Light fiasco: If only boards had crystal balls to deal with political risks
    Aug 3 2023
    Given the recent evidence of Russia’s President Putin seizing Carlsberg’s Baltika breweries and Anheuser-Busch’s Bud Light marketing blunder, many observers wonder if brewers’ early-warning systems and contingency plans don’t need an overhaul in times of rising political and geopolitical risks. The board is supposed to be a company’s periscope to spot any danger on the horizon. But, what if brewers’ boards still seem to rely on their ability to dive under it?
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    13 min
  • The Bud Light controversy (so far)

    The Bud Light controversy (so far)
    May 25 2023
    After Dylan Mulvaney, a transgender actress, on 1 April, shared a video on Instagram for Bud Light with her followers, conservative politicians and celebrities condemned Anheuser-Busch for being a “woke company” and boycotted the brand. Throughout April, Bud Light’s sales tanked, which conservative media celebrated as proof that their boycott was working. Observers are scratching their heads: How could Anheuser-Busch’s leadership so obviously underestimate the risk of a pushback from consumers?
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    14 min
  • Greedflation: Corporate social responsibility and profits

    Greedflation: Corporate social responsibility and profits
    Feb 3 2023
    In 2022 there was a shift in the public discourse around corporate profits. Many suspect that wily corporations had spotted a chance to jack up prices by more than their own costs have increased. Entering into 2023, the conversation has moved away from that sense that profit is always good and hiking profits the essence of doing business. Many wonder: Why is turning a profit suddenly considered a bad thing?
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    9 min
  • Brands going global: there is no recipe for success

    Brands going global: there is no recipe for success
    Nov 7 2022
    The Big Brewers seem to be pushing brands that half of the world didn’t know they needed. But there is a risk to Big Brand thinking: Just because the Big Brewers have the muscle to push brands into a market does not mean that these brands have a unique customer value proposition. The rise and fall of the Foster’s beer brand can serve as a warning.
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    12 min