Former Anheuser Busch CEO August Busch IV has been arrested in Swansea, IL. after police say he attempted to fly his helicopter while intoxicated, St. Louis' KSDK News reports.

#BREAKING: ex-@AnheuserBusch CEO August Busch IV arrested in Swansea after police say he tried to fly his helicopter intoxicated. @ksdknews

— Jacob Long (@JacobLong_KSDK) July 11, 2017

According to Swansea police, officers were called around 8:15 p.m. when Busch IV appeared to be trying to take off in his helicopter, but seemed to be too intoxicated.

No injuries were reported and charges have not been filed, as police await the tests of blood, urine and breath samples.

Busch IV was the last of the family to control the company, which was purchased in a hostile takeover in 2008 by the Belgium-based brewing giant InBev, creating Anheuser Busch Inbev NV (BUD) .

Busch is a commercial pilot with certificates in airplanes, single and multi-engine planes, instrument airplanes and rotorcraft helicopters.

Anheuser Busch's shares fell 0.7% to $110.98 on Tuesday afternoon.

What's Hot On TheStreet

Watch out, Apple: Louis Vuitton Tuesday unveiled its first smartwatch coined the Tambour Horizon in a bid to cut into Apple Inc's (AAPL) hold on the wearables market, TheStreet reports.

The watch was made in conjunction with Alphabet's (GOOGL) Google and Qualcomm Technology (QCOM) and starts at a lofty $2,450. It works with both Apple and Android devices, and is the first Android Wear smartwatch that functions in China.

Yes, it's Amazon Prime Day: Although many probably have Amazon (AMZN) Prime Day fatigue right now, that doesn't mean they won't be spending aggressively on big digital deals. Amazon stands to ring up more than $2 billion in sales worldwide during the 30-hour sale known as Prime Day, Internet Retailer predicts. The gain would mark about a 21% increase from a year ago. U.S. sales alone are pegged at $1.56 billion, up 20% from last year, TheStreet reports.

Bitcoin has crashed: Traders that have rode the wave higher in Bitcoin via cryptocurrency plays such as Advanced Micro Devices (AMD) and Nvidia (NVDA) may want to reconsider their bullishness. Bitcoin prices entered into bear market territory Tuesday, TheStreet reports, as an embarrassing legal case kicked off in Japan and experts continue to squabble over key changes to the cryptocurrency's infrastructure.

Bye-bye regulations: President Trump late Monday nominated former Treasury official Randal Quarles as the Federal Reserve's top bank supervisor. As TheStreet's Ron Orol reports, the nomination could lead the way to a dismantling of many Obama Administration bank regulations and is one that is expected to send a positive signal for now to big and regional bank stocks. Orol points out that the appointment could boost bank stocks such as Bank of America (BAC) , Wells Fargo (WFC) , Citigroup (C) and Goldman Sachs (GS) in the near-term.

Apple, Alphabet, Wells Fargo and Citigroup are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AAPL, GOOGL, WFC and C? Learn more now.

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