The leaders of Japan and China got off to a tense start but have made significant progress in turning around their relations in recent years.Asia Politicsread more
Tech's hottest IPOs of the year, including Beyond Meat and Zoom, dropped on Monday, falling more than the broader market.Technologyread more
Stocks in Asia slipped in Tuesday afternoon trade, while investors looked toward a meeting between U.S. President Donald Trump and Chinese President Xi Jinping set to happen...Asia Marketsread more
A week of dovish fireworks out of the central banking community has just gone by with most of the world's leading central banks now guiding towards easing in light of downside...Commentaryread more
"We do not seek conflict with Iran or any other country," Trump tells reporters in the Oval Office.Politicsread more
Chinese Vice Premier Liu He held a phone conversation with U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin, China's Ministry of Commerce...World Economyread more
Sen. Bernie Sanders announced a plan Monday to forgive the country's $1.6 trillion outstanding student loan tab, intensifying the higher education policy debate in the 2020...Personal Financeread more
While earnings usually come in substantially ahead of expectations — as much as 4 or 5 percentage points is not unusual — the downward direction in the outlook doesn't speak...Earningsread more
U.S. President Donald Trump's senior adviser Kellyanne Conway will not testify before the House of Representatives Oversight Committee this week on her alleged violations of...Politicsread more
"We missed being the dominant mobile operating system by a very tiny amount. We were distracted during our antitrust trial. We didn't assign the best people to do the work,"...Technologyread more
PatientsLikeMe was bought by UnitedHealth following a review by Trump's Treasury Department, which scrutinized the start-up because it's backed by Chinese cash.Technologyread more
Over the last five years, the volume of Irish whiskey sold in the U.S. grew by 61 percent, according to the Irish Food Board. In 2018 alone, sales grew by 9.4 percent compared to the previous year, netting distillers roughly $1 billion in revenue.
Last year also marked the ninth straight time that spirits took market share from beer, according to David Ozgo, the Distilled Spirits Council's chief economist.
American millennials are driving the growth of Irish whiskey in the U.S., in part, due to their willingness to spent more on higher quality alcohol, Ozgo said.
Despite its growth in the U.S. and elsewhere in the world, Irish whiskey still represents less than 3 percent of the case volume of all spirits sold. But spirits companies are trying to change that, spending more on marketing pushes for their brands. For example, when Diageo, the world's largest spirits purveyor, re-entered the booming market in 2017 with Roe & Co., it increased its marketing spending by 20 percent compared to the previous year.
Irish whiskey tends to be smoother and less smoky than its Scottish cousin scotch and less sweet than American and Canadian varieties.
Jameson, owned by French spirits giant Pernod Ricard, remains the market leader. But there are some upstarts looking to make their own mark on the space. In 2013, there were just three distillers in Ireland: Cooley, Irish Distillers and Dingle Distillery. Now, there are 18 facilities with eight more on the way, according to the Irish Food Board.
Ozgo also noted that cocktails featuring Irish whiskey have become more popular menu items over the years. New York City's The Dead Rabbit, named the World's Best Bar in 2016 by Drinks International, devotes about half of its menu to such cocktails, but its bartenders are also trained to help customers learn more about the alcohol.
"What I generally see is, people say whiskey as a general term, and then that's where we say, 'Well, Irish whiskey is a huge part of our DNA and what we're known for,'" said Jillian Vose, the bar's beverage director.