With demand growing, distillers are selling more whiskeys without an age noted. So much more matters when it comes to a good whiskey.» Read More
While stocks aren't as cheap as they were a year ago, Bill Nygren made four new portfolio additions.
*Diageo offers to buy up to 26 pct more of United Spirits. MUMBAI/ LONDON, April 15- Diageo, the world's biggest spirits maker, has launched a $1.9 billion bid to nearly double its stake in United Spirits Ltd, offering a rich price in the hope that India's increasingly wealthy consumers will drink more alcohol.
Europe's banks prepare for ECB tests with new provisions. LONDON- The tens of billions of euros euro zone banks set aside for loan losses in their latest annual accounts may have substantially reduced the chance of institutions failing ECB stress tests in the next few months.
Global drinks firm Diageo on Tuesday announced the launch of a tender offer to acquire up to 26 percent more in India's United Spirits.
LONDON, April 7- U.S. drinks company Brown-Forman is one of several parties considering second-round bids for the Whyte& Mackay whisky business, expected to fetch around 350 million pounds, said three people familiar with the matter.
Happy Monday. Market advice: It looks like the mo-mos are no-nos.
*Diageo says biomass an' integral part' of strategy. SPEYSIDE, Scotland, April 4- Scotch whisky distillers are burning their unwanted grain byproducts, wood chips and other types of biomass for a source of energy in remote areas of the Highlands, where gas links are scarce and fuel oil is pricey.
PARIS, March 27- French drinks group Pernod Ricard expects its 2013/ 14 annual underlying operating profit in Asia to record a low single digit percentage decline, hit by weak demand in China. The world's No. 2 spirits group by sales behind Britain's Diageo, however, said it believed the medium and long-tem growth potential for Asia remained intact.
NEW YORK, March 21- It only took a look at the financial statements of the world's largest maker of spirits to convince Larry Seruma that Africa was the place to go. While African alcohol consumption lagged Europe or the Americas, Diageo's rapid expansion on the continent was such that, by 2013, the region accounted for 13 percent of global revenue.
WASHINGTON, March 18- If anyone should find it odd that a Japanese distillery was planning to merge with a U.S. bourbon brand steeped in the history of the American South, the answer could be found on a cocktail menu. Prices for bourbon, a type of whiskey distilled from at least 51 percent corn, have risen faster than inflation in the United States for years.
Diageo is lobbying Tennessee legislators to ease the state's whiskey laws so other distillers can experiment with new techniques, WSJ reported.
YouGov's BrandIndex, which measures daily brand perception among consumers, released its annual ranking of the best perceived beers among consumers.
SPI Group, owner of Stolichnaya vodka, Italy's Campari and private equity firms Lion Capital and TPG Capital Management are among the interested parties likely to have bid, said the sources, who declined to be identified since the process is private.
LONDON, March 7- A bee sting nearly killed Natalie Blyth in 2012 but the HSBC investment banker didn't take fright from the experience- she took inspiration from it. Blyth is one of the highest ranking female bankers at HSBC.
A merger between Reynolds American and Lorillard would have benefits in their domestic market. It could also kick off more deals overseas.
*Aegon gains 4 pct, Vodafone rises 1.7 pct. LONDON, Feb 21- European shares edged higher in cautious trading on Friday, with France's CAC 40 hitting a 5-1/ 2- year peak as investors took their lead from gains on Wall Street and in Asia after robust U.S. factory data.
*Vodafone rises 2.8 pct, top gainer. LONDON, Feb 21- European shares climbed higher on Friday, with France's CAC 40 hitting a 5-1/ 2- year peak, as investors took their lead from stronger equities on Wall Street and in Asia following robust U.S. factory data. France's CAC was up 0.1 percent after hitting a level not seen since 2008..
There seems to be little to no interest in fresh overseas investment into India, and that’s a mistake, says a local expert.
*Sales fell 18 pct in China in H1, weakness to persist in H2. PARIS, Feb 13- French drinks group Pernod Ricard cut its annual profit growth goal on Thursday, saying demand for its Martell cognac and Ballantine's whisky in China, its second-largest market, would stay sluggish through end-June.
Procter & Gamble cut its sales and earnings outlook for the year to reflect unfavorable foreign exchange rates in emerging markets.