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Voters approve I-1634, banning local soda and food taxes in Washington state

“Seattle’s sweetened beverage tax remains in effect, but other local governments can no longer tax food, beverages or ingredients” writes Seattle Times Business for seattletimes.com. I-1634 does not repeal Seattle’s 1.75-cent-per-ounce sweetened beverage tax, but it does prevent the tax from increasing.Washington cities, towns and counties are prohibited from passing new taxes on food, beverages and ingredients with the passage of Initiative 1634. Source: seattletimes.com Share This:

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Monster Beverage stock falls after disclosing fight with Coca-Cola

“MNST, +2.04% shares dropped as much as 9% in after-hours trading Wednesday after the energy-drink company revealed that beverage giant and partner Coca-Cola Co” writes Jeremy C for marketwatch.com. Coke, which is the largest shareholder in Monster, has delayed the launch of its potential competitors until April 2019 amid the dispute, Sacks said.The deal includes exceptions that Coke is trying to claim, Sacks explained, and the dispute entered into arbitration last week. Source: marketwatch.com Share This:

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Initiative to ban local soda and grocery taxes leading in Washington

“By contrast, a similar soda-industry-backed measure to ban local grocery taxes in Oregon was trailing by 16 percentage points” writes Seattle Times Business for seattletimes.com. It will not reverse Seattle’s 1.75-cents-per-ounce sweetened beverage tax, but prevents further increases and stops other cities from following suit.State law already bans local sales taxes on food and beverage items — with exceptions for prepared foods, alcohol and other items.The soda industry’s $20 million campaign to block Washington cities from enacting new food and beverage taxes appeared to be paying off as Initiative 1634…

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This $30 insulated water bottle comes with a strainer for loose-leaf tea — and it keeps my drinks hot for hours

“But while most of them do a great job at keeping hot beverages hot, few are capable of keeping leaves out of your mouth” writes Insider Picks for businessinsider.com. As for keeping things cold, the Boulder does an even better job — it’s capable of maintaining low temperatures for up to 36 hours.Enter the Boulder— this bottle features a food-grade stainless steel removable strainer that works for tea leaves, fruit infusions, or just about anything else you’d like to flavor your beverage with.If, on the other hand, you’re looking for…

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CEO of the beverage giant behind Corona: Cannabis is one of the ‘most significant’ growth opportunities of the next decade

“We’ve recognized the significant opportunity that the emerging cannabis space presents as potentially one of the most significant global growth opportunities of the next decade,” Constellation Brands CEO Rob Sands told investors on Thursday” writes Finanzen Net Gmbh for businessinsider.com. The beverage giant behind Corona and Modelo is bullish about the future of the legal cannabis industry.Sands also noted Canopy’s “significant positions” outside of Canada in countries like Germany and U.K. that are quickly moving to medical marijuana legalization.”We see no evidence whatsoever, especially in the United States, in the…

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Pepsi beats, but beverage sales in North America disappoint

“However, the company missed sales estimates for North America beverages, as well as for its Frito-Lay branded snacks” writes Uday Sampath for businessinsider.com. (Reuters) – PepsiCo Inc reported quarterly revenue above Wall Street estimates on Tuesday, as investments in marketing and developing new products for Latin America paid off. Analysts on average had expected revenue of $16.36 billion, according to Thomson Reuters I/B/E/S. Shares were down marginally in low volumes in early trading on Tuesday. Source: businessinsider.com Share This:

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PepsiCo’s Nooyi delivers 16 percent surge in profit and earnings beat on last day as CEO

“Meantime, it continues to invest in the beverage business, announcing in August plans to buy at-home carbonated drink maker SodaStream for $3.2 billion” writes Lauren Hirsch for cnbc.com. Excluding items, PepsiCo earned $1.59 per share, beating the $1.57 per share expected by analysts surveyed by Thomson Reuters.PepsiCo’s North American beverage business, which includes Gatorade and its namesake cola, has fallen as sales of carbonated drinks slow and upstart brands eat into the market share of its non-cola drinks.The earnings mark the first sinceNooyi announced plans to step down in August,…

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The market for marijuana-infused beverages could explode to $600 million in the next four years

“Canaccord estimates CBD beverages will become a $260 million market by 2022, and THC-infused beverages a $340 million market” writes Jeremy Berke for businessinsider.com. Marijuana-infused beverages could become a $600 million market in the US in the next four years, according to a note from Canaccord Genuity, and big beverage makers are looking to take advantage of that opportunity.Revenue from cannabis beverages could outpace the general demand for cannabis products by over two times, capturing 20% of the market for marijuana edibles by 2022, according to the analysts.On top of…

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Legalized weed could be the boost beverage giants like Coke and Pepsi need as Americans ditch sugary sodas

“CBD investments are in line with both Coca-Cola and PepsiCo’s increasing interest in up-and-coming wellness beverages, like sparkling water and kombucha” writes Kate Taylor for businessinsider.com. Now, the next step could be investing in legal marijuana.As Business Insider’s Jeremy Berke reports, legal marijuana is on track to become as big— or bigger — than the soda industry.With the report that Coca-Cola could be eyeing a deal with marijuana producer Aurora Cannabis, it seems legalized weed could be the boost beverage giants are looking for. Source: businessinsider.com Share This:

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Coca-Cola is eyeing a deal in the marijuana industry, and insiders say it’s a sign that other beverage giants may soon dive in

“I think the bigger question is the extent to which all of the major global beverage companies are planning to participate.”” writes Jeremy Berke for businessinsider.com. To some cannabis industry CEOs, Coca-Cola’s interest in the sector is a welcome sign that things are just getting started.As more mainstream corporations signal their interest in marijuana, industry insiders said they expect more consumer packaged goods (CPG) companies to explore deals.Coca-Cola is reportedly eyeing a deal to produce beverages infused with cannabidiol (CBD), a non-psychoactive ingredient in marijuana.”The involvement of an industry leader…

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