AB Inbev sells Australian unit
AB Inbev, the world’s biggest brewer with brands like Budweiser and Corona, said Friday it is selling its unit in Australia to reduce debt after it decided against listing shares in Asia. The company is selling Carlton & United Breweries for $11.3 billion to Japanese rival Asahi Group. AB Inbev, which is based in Belgium, said it will use almost all the money from the deal to pay down debt. The company has accrued a mountain of debt — about $100 billion — after going on an acquisition spree, including buying Anheuser-Busch in 2008 and its next closest rival, SABMiller, in 2015.
DuckDuckGo is a Google alternative
Gabriel Weinberg is taking aim at Google from a small building 20 miles west of Philadelphia that looks like a fake castle. Weinberg’s company, DuckDuckGo, has become one of the feistiest adversaries of Google. DuckDuckGo offers a privacy-focused alternative to Google’s search engine. The company’s share of the search engine market is still tiny — about 1% compared with Google’s 85%, according to StatCounter. But it is now handling around 40 million searches a day. The challenges faced by DuckDuckGo reflect just how difficult it is to build an internet business focused on the privacy of its users.
Data breach to cost about $650M
Equifax is expected to pay around $650 million to settle federal and state investigations and consumer claims relating to a data breach that exposed sensitive information belonging to 145 million people, according to two people familiar with the settlement discussions. The breach, which Equifax revealed in September 2017 and included Social Security and driver’s license numbers, was one of the most severe exposures of Americans’ personal data and drew widespread condemnation from lawmakers, law enforcement agencies and consumers.