Afternoon Coffee: Apple Cuts iPhone Production Again; AB InBev Accepts Offer for Peroni, Grolsch

cobraphoto/ Adobe Stock

Suppliers of parts for the iPhone reported Apple will continue its reduced production of its flagship product in the second quarter. Sluggish sales of the iPhone 6S and iPhone 6S Plus have forced Apple to adjust inventories, and the company apparently does not expect sales from the new iPhone SE to offset the slump.

Anheuser-Busch InBev accepted an offer just below $3 billion for SABMiller’s premium brands, a move that aims to ease regulatory approval for AB InBev’s pending acquisition of its largest competitor. The brands sold include Peroni, Grolsch and British craft beer Meantime.

IBM delivered quarterly earnings with a mixed message Monday. Big Blue’s performance indicated steady gains in its cloud computing and data-analysis software segments — including its Watson unit — but losses in other software products and hardware weighed on profits, overshadowing the transformation effort.

And finally, Puma has teamed up with the International Finance Corporation and GT Nexus to provide supply chain financing to its suppliers in Bangladesh, Cambodia, China, Indonesia, Pakistan and Vietnam. The program will offer financial incentives for suppliers in these emerging markets to improve environmental, health and safety, and social standards, according to a press release.

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