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Will the duty-freeze be enough of a buffer for the alcohol trade?
In tough times alcohol is usually the last thing to be scrapped from our 'luxuries' list, but with the economy looking so bleak, will even booze sales suffer? The proposition that consumers trade up...
View ArticleGlobal drinks groups forge through inflationary storms
Amid inflationary pressure, shoppers are said to be switching to economy and own-label lines from brands, however there is no evidence of that trend in the drinks sector. db looks at the global drinks...
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“Be very, very careful about investing in China,” warns Mark Mobius
Since China's borders have reopened and the country has emerged from lockdowns, there are myriad investment opportunities, including in baijiu companies. However, the founder of Mobius Capital Partners...
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Silicon Valley Bank failure shakes California wine community
When California’s Silicon Valley Bank failed and was taken over by the federal government on Friday, it was like a death in the family for the winegrowing community in Napa Valley, Sonoma County and...
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NYC takes joint place with London for leading financial centre
The City of London Corporation's annual survey reveals that New York has risen from second place to tie with London for the world's most important finance hub. The annual survey by the City of London...
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Fund manager names three Chinese drinks companies as top picks
Zhang Kun, China's biggest asset manager, has named Kweichow Moutai, and liquor distillers Wuliangye Yibin and Jiangsu Yanghe Brewery among his Top 10 holdings. According to the annual report issued by...
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Wealthy Chinese ex-pats not investing in Singapore
The lack of new business investments from wealthy Chinese émigrés who have moved to Singapore following the country's tax emption laws, is becoming a bone of contention. As the drinks business has...
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Global Brands announce record 26.6% increase in turnover
Global Brands has announced a record increase in turnover for its last financial year to September 2022, as the firm's international footprint continues to grow. The news has seen the Derbyshire-based...
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Rémy Cointreau beats expectations but warns challenges ahead
Rémy Cointreau has reported annual profits are up 16.2% last year, but warned of challenges in the US market, especially during the first half of 2023. The company, which includes brands such as Rémy...
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Latest inflation figures show drinks prices still rising
The latest inflation figures reveal the drinks trade continues to contribute to inflation with both non-alcoholic beverages and alcohol playing a role. Although the consumer price index (CPI) has...
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Natwest strikes £100 million deal with drinks platform Ferovinum
A £100 million deal between Ferovinum, NatWest and BCI Capital could transform how banks deploy capital into the UK wine and spirits sector. London-based Ferovinum, a funding platform for the wine and...
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From the db archive: how drinks news has (and hasn’t) changed
In the first of our series taking a look back through the drinks business archive has revealed how much - and how little - has changed in the past decade. February 2013: Brad Pitt and Angelina Jolie...
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Where is the world’s cheapest pint?
New research has discovered where customers can find the cheapest beer in the world — and also where is the most expensive pint. The study by price comparison site finder.com looked at 166 countries...
View ArticleUK economy up 0.2% as drinks and hospitality grow
The UK economy has grown by 0.2%, slightly outstripping expectations, as the drinks and hospitality sector benefited from good weather. Gross domestic product (GDP) grew by 0.5% in June alone, offset...
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US credit card debt hits $1 trillion for the first time
Credit card debt for Americans surpassed US$1 trillion for the first time at the end of June, raising concerns over household disposable income. According to a report published by the New York Federal...
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Australian PM Albanese to discuss wine tariffs with China
The Australian prime minister Anthony Albanese has said he will discuss Australian wine tariffs during the next meeting with Chinese president Xi Jinping. Speaking at the Australian Industry Group's...
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Alcohol still rising as overall inflation falls to 6.8%
Inflation has fallen to 6.8% as measured by the Consumer Price Index (CPI) but alcohol rises on both monthly and yearly rates. Data shows the rate of inflation for food and drink is still stubbornly...
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Carlsberg shares climb as it lifts profit forecast
The Danish brewer has lifted its profit guidance for the full year following a "solid business performance" in the first half of 2023. The world's third-biggest brewer said it now expects organic...
View ArticleDuty changes: ‘the full cost will be met by wine drinkers’
In this exclusive comment piece from the chief executive of the Wine and Spirit Trade Association (WSTA), Miles Beale offers his views on the first month since the historic alcohol duty reform came...
View ArticleCarlsberg CEO: Russia stole our business
Carlsberg's CEO has said the brewer won't enter into negotiations with the Russian state regarding its former business in the country. The comments from Jacob Aarup-Andersen came on a call with...
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High inflation for alcohol despite overall fall
The levels of inflation for alcohol has remained stubbornly high despite the overall rate of inflation falling to the lowest levels since 2021. The latest Office for National Statistics (ONS) data of...
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Reports claim Diageo looking to sell beer portfolio — but not Guinness
Reports have claimed that Diageo is seeking to sell its beer portfolio, although the news also states it will keep its Guinness brand. The news comes from Axios that the firm is looking to off-load...
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Diageo begins search for new chairman
Diageo has started the search for a new chairman to take over from Javier Ferran, who is due to retire when his term of office expires next year, according to reports. Sky News said the world’s leading...
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WSTA: inflation data offers ‘little to celebrate’
Following the news that food and drink inflation remains stubbornly high, the Wine and Spirit Trade Association (WSTA) has called on the government to take action on duty to relieve the pressure. The...
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Australian Vintage in ‘early stages’ of potential Accolade merger
The biggest change for a generation in the Australian wine landscape could be triggered by the potential merger of the country’s second and third largest producers, Accolade Wines and Australian...
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Breal rebrands as Keystone Brewing Group
Private equity firm Breal Group has rebranded as Keystone Brewing Group following a number of acquisitions in the craft beer space in the past year. The firm, which has purchased Masham-based Black...
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Budget 2024: what drinks firms could expect
Drinks producers and the hospitality trade are waiting with bated breath for the government's tax decisions on Wednesday, but what can they expect? The Spring Budget this Wednesday (6 March) is likely...
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Budget 2024: alcohol duty freeze offers some relief
Chancellor of the Exchequer Jeremy Hunt has delivered the Budget today (6 March) and offered some relief for struggling drinks businesses with an alcohol duty freeze. Hunt opened his Budget statement...
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Kweichow Moutai makes US$10.3bn profit
The world’s biggest alcohol group, China’s Kweichow Moutai, made net profits of 74.73 billion yuan (US$10.33 billion) in 2023. That was 19% above the 2022 level, slightly higher than it originally...
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Constellation forecasts profits above expectations
Constellation Brands is bucking the trend of global drinks groups that are moderating investor expectations for the rest of this year. It has forecast annual profits above Wall Street’s predictions as...
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