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Shares of major drink makers got battered on Thursday after poor results from Diageo and Rémy Cointreau caused a sell-off.
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Jonny Forsyth, global drinks analyst at Mintel, says China has been a "cash cow" for drink-makers, but the slowdown is having a big impact on sales.
CNBC's Helia Ebrahimi discusses the Co-Operative's troubled story from drug buying allegations against the former chairman, to big financial black holes.
European shares opened mixed on Thursday, failing to continue a rally on Wall Street after accommodative comments from U.S. Federal Reserve Chair Janet Yellen.