Anheuser-Busch InBev says revenue growth in most of its global regions was offset by a drop in North American sales in the third quarter.

After more than two decades as America’s best-selling beer, Bud Light has slipped into second place.

In a case that hinged on the definition of “beer,” a federal jury has ruled that Constellation Brands can continue to sell Corona and Modelo hard seltzers in the U.S. Anheuser-Busch InBev and its Mexican subsidiary, Grupo Modelo, sued Constellation in 2021.

Angela Weiss/Getty Images for ANHEUSER BUSCH(CNN) - Anheuser-Busch InBev has accused rival brewer Miller Coors of obtaining the secret recipes for Bud Light and Michelob Ultra, the latest shot in a long-running legal dispute. Miller Coors responded in March with a lawsuit that described the ads as "false and misleading." Last month, the court told Anheuser-Busch InBev to stop using the phrase "no corn syrup" on its packaging. The Miller Coors employee had previously worked for AB InBev. Representatives for Anheuser-Busch InBev did not immediately respond on Friday when asked to provide further details.

Spencer Platt/Getty ImagesHONG KONG - Shares in Anheuser-Busch InBev's Asia business popped on their market debut in Hong Kong on Monday. Budweiser APAC stock rose more than 5% on their first day of trading in what was the second biggest public offering this year after Uber's $8.1 billion IPO in May. The brewer of Budweiser, Beck's and Stella Artois opened at 27.4 Hong Kong dollars ($3.50) a share, about 1.5% above its IPO price of 27 Hong Kong dollars ($3.44) a share, before rising further in morning trading. Budweiser APAC's IPO is a big win for the Hong Kong Stock Exchange. AB InBev had originally planned to raise $9.8 billion from the Hong Kong listing, which would have made it the biggest IPO so far this year.

Natty Light Seltzer is not the first hard seltzer product for AB InBev, which already sells Bon & Viv. There's no question that hard seltzer is having a moment. Natural Light Seltzer is going to be a little different. Other big companies made their hard seltzer plays around the same time: Anheuser-Busch bought SpikedSeltzer, which led to Bon & Viv, and Boston Beer launched Truly, another popular hard seltzer, all in 2016. With Natty Light Seltzer, AB InBev wants to appeal both to Natty Light drinkers and take share away from other hard seltzer brands, he said.

Spencer Platt/Getty ImagesLEUVEN, Belgium - Anheuser-Busch InBev may be struggling with a massive debt load, but the king of beers had some refreshingly good news for investors Thursday. Shares of AB InBev soared nearly 6% after the Budweiser, Bud Light and Stella Artois owner reported solid sales and earnings. The more than 2% jump in volume was AB InBev's largest in over five years. But AB InBev pulled the plug on a proposed IPO of its Asian business in Hong Kong earlier this month, citing tough market conditions. AB InBev's debt burden remains stubbornly high at more than $100 billion.

The owner of Budweiser is buying a wine company that's popular with social media-obsessed Millennials. ZX Ventures first bought a minority stake in Babe Wine last year. Babe Wine has become popular thanks to the social media prowess of Ostrovsky and of the Cohen brothers. The acquisition is the latest move by AB InBev to diversify, as sales of its mainstream Budweiser and Bud Light beers have stagnated in the United States. AB InBev is partnering with Keurig Dr Pepper on a machine called Drinkworks, essentially a Keurig machine with beverage pods for cocktails.