Sales overflow for drink giants Diageo and AB InBev as consumers still opt for pricey tipples CONSUMER THIRST Global drinks titans Diageo and AB InBev have reported overflowing sales after the easing of Covid lockdowns has driven punters back into bars. Johnnie Walker maker Diageo posted net sales of £15.5bn, an increase of 21.4 per cent, which it accredited to the pub and bar sector recovering from the side effects of Covid 19 [...]
Eurozone inflation surges to 8.1 per cent as pressure grows on ECB for rate hikes Eurozone inflation surged ahead of expectations to a record high in May as pressure grows on the European Central Bank’s to hike interest rates.
Consumers buying more beer as Budweiser maker AB InBev reiterates growth outlook BEER SALES Budweiser maker Anheuser-Busch InBev (AB InBev) said drinkers are swallowing higher prices and bought more beer in the first quarter. After posting higher than expected earnings, the Belgian brewer reiterated an EBITDA growth outlook of between four and eight per cent for the full year. Consumers had bought 2.8 more drinks by volume in the [...]
Budweiser owner AB InBev to exit Russian venture in $1.1bn hit April 22, 2022 Budweiser owner Anheuser-Busch InBev has said it will cut off supplies of its beer to Russia by selling its stake in a joint venture to a Turkish partner. The move will trigger a $1.1bn impairment charge in the world’s largest brewer’s first quarter results. The Belgian brewer revealed it was in “active discussions” about selling [...]
JP Morgan snaps up stake in Greek fintech Viva Wallet January 25, 2022 JP Morgan has snapped a 49 per cent stake in Athens-based payments fintech Viva Wallet, the firm announced today.
Good Energy offloads solar and wind asset ahead of shareholder showdown with rival firm January 20, 2022 Good Energy has sold a portfolio of renewable sites despite pressure from activist investors to keep hold of its generation assets.
Fashion brands log legal claims over Visa and Mastercard fees December 12, 2021 Fashion firms are taking legal action over Mastercard and Visa card payment fees More than a dozen brands have filed legal claims over historic charging fees, alleging a breach of competition laws, it was reported by The Telegraph. It comes as Amazon confirmed UK customers will not be able to use Visa credit cards when [...]
Racing Post picks bankers to oversee its £500m sale following US intrigue December 7, 2021 Owners of the Racing Post has picked bankers to oversee its £500m sale following a growing interest in sports betting data from US-based gambling companies.
JD Wetherspoon and Budweiser ink 20-year partnership as brewer chain’s largest beer supplier November 29, 2021 Pub operator JD Wetherspoon has announced a 20-year deal with brewer Budweiser, which will become the chain’s largest beer supplier. JD Wetherspoon (JDW) will be ditching its 41-year association with brewer Heineken in favour of products from Budweiser Brewing Group. Beers including Budweiser, Stella Artois, Corona and Bud Light will be on offer at JDW [...]
European carbon benchmark prices breach €70 for first time amid colder winter weather and consumption demand November 22, 2021 European carbon prices have sustained record levels, climbing above €70 per tonne for the first time since the European Union’s market was launched in 2005. Monday was the sixth consecutive day of European carbon allowances setting an all-time high. The European benchmark price soared to €70.43 yesterday, amid colder than expected weather and less wind [...]