Venezuela's currency controls give consumers cheap Scotch and Barbies, even as they struggle with shortages of staple products such as milk and medicine.» Read More
CARACAS, Dec 23- Venezuelan shoppers line up outside a Caracas liquor store to buy bottles of Buchanan's 12- year Scotch whisky at half the usual cost, a deal made possible by a state subsidy that gave cheap dollars to import them. The same subsidy, provided under the country's three-tiered exchange control system, helps a Caracas merchant do thriving business in...
LONDON, Dec 17- Alcoholic drinks maker Diageo forecast flat sales for the first half of its financial year in the United States, its biggest and most profitable market, after demand over Thanksgiving fell short of its hopes. Part of the reason for the weaker performance is that Diageo is more heavily discounting Smirnoff vodka in the United States as it aims to...
The "Fast Money" traders share their final trades of the day.
European shares closed lower on Thursday after trimming losses, tracking U.S. markets which partially recovered after visiting correction territory.
Investors, by and large, have ignored fundamentals in the ongoing selloff, five-star fund manager David Herro told CNBC on Thursday.
LONDON, Oct 6- SABMiller boss Alan Clark said on Monday there was no truth in speculation the brewer's interest in buying Dutch rival Heineken was a defensive move aimed at protecting itself from being taken over. In his first public comments since news emerged that Heineken had rejected a bid approach from SABMiller, Clark said it was "not unusual" for his company...
*Takeover of SABMiller seen costing nearly $122 bln. LONDON/ BRUSSELS, Sept 15- SABMiller's rejected bid for smaller brewer Heineken has revived talk about deals that could reshape the global beer industry in coming months. "We believe SABMiller could now be considered to be' in play' and view AB InBev as a potential acquirer," said Numis analyst Wyn Ellis.
Sept 3- The leading vodka brands in the United States are losing their buzz as craft distillers and other alcoholic drinks infringe on their turf. Both Diageo Plc, which markets Smirnoff, and Pernod Ricard SA, known for its Absolut brand, say newcomers to the vodka market are cutting into their sales.
Select Japanese and European equities hold the greatest potential right now, Morningstar's Fund Manager of the Decade David Herro says.
Spirits maker Pernod Ricard reported full-year underlying profit growth of 2 percent, in line with expectations.
ZURICH, Aug 7- Nestle announced an 8 billion Swiss franc share buyback on Thursday and revealed stronger sales growth in emerging markets in contrast to other big consumer products companies.
European shares closed lower on Thursday with investors reacting to quarterly earnings and some disappointing data from the euro zone.
Diageo CEO Ivan Menezes, discusses the company's quarterly results and shares his thoughts on emerging market consumers.
Diageo posted weaker-than-expected earnings on Thursday, hurt by a slowdown in China and volatility in other emerging markets.
Ivan Menezes, CEO of Diageo, says despite weakness in China, the drinks company will continue to focus on the emerging markets.
A crush of big cap earnings and arguably the most important economic reports until September make next week the busiest of the summer for markets.
With demand growing, distillers are selling more whiskeys without an age noted. So much more matters when it comes to a good whiskey.
*Cognac shipments to China could pick up from Q3- CFO. PARIS, July 18- Spirits group Remy Cointreau said it expects demand for cognac in China to pick up later this year, after blaming a Chinese government crackdown on ostentatious spending for another drop in group sales in the first quarter.
PARIS, July 11- Pernod Ricard has spent almost $100 million to gain majority control of Avion Spirits LLC, owner of top-of-the-range tequila brand Avion, as part of plans to expand in the United States, its largest market, the French firm said on Friday.
*Announces investments in Britain by Indian companies. MUMBAI, July 7- Britain's finance minister George Osborne praised India's new prime minister Narendra Modi on Monday for helping create a quick turnaround in investor sentiment, during a two-day trip aimed at opening up opportunities in defense and infrastructure.