‘Hard work ahead’: Diageo shares soar as Drastic Dave’s cost savings lift investor spirits Markets Diageo shares jumped as much as eight per cent on Thursday after the London drinks giant vowed to deliver as much as $850m (£631m) in cost savings, as new boss Dave Lewis vowed to turn around the firm’s fortunes. The FTSE 100 owner of Guinness, Johnnie Walker and Tanqueray reported a three per cent dip [...]
Will Drastic Dave live up to his name at Diageo? Retail Putting the finishing touches to Diageo’s annual report, Sir Dave Lewis may be channelling the old slogan of the drinks giant’s prize brand, Guinness: ‘Good things come to those who wait’. Since Lewis began his tenure as chief executive of the FTSE 100 firm on New Year’s Day, investors have heard very little from him. [...]
Scotch whisky sales are falling, but what’s really behind the decline? Whisky Whisky Business, City AM’s whisky supplement. The Scotch whisky sector and indeed the wider spirits market have faced a challenging six months, marked by a wave of negative headlines that have painted a bleak picture of the industry’s health. At the beginning of the year, data from restructuring firm BTG warned nearly one in five of [...]
Wetherspoons and Young’s toast World Cup success as shares rocket July 14, 2026 Wetherspoon and other top London-listed pub groups have surged in value over the course of the World Cup as millions of revellers toasted the hot weather and the Three Lions’ success. Tim Martin’s budget pub chain, which is listed on the FTSE 250, has gained more than £75m in value since the start of the [...]
Terry Smith dubs weight-loss giant Novo Nordisk ‘investment disaster’ July 7, 2026 Star stockpicker Terry Smith has dubbed weight-loss giant Novo Nordisk an “investment disaster” less than two years after he dumped his entire Diageo stake over fears that GLP-1 users would ditch alcohol. The veteran investment manager, who runs the Fundsmith Equity fund, has said that he regrets his investment in the Danish pharmaceutical firm. “Novo [...]
LSE draws up ‘worst case scenario’ US listing flight risk June 28, 2026 The London Stock Exchange is preparing for as many as 20 FTSE 100-listed companies to move their direct listings to New York, according to reports, in a move that would leave a £2bn gap in the Treasury’s earnings from stamp duty on share trades. The exchange has drawn up a worst-case scenario plan in which [...]
Diageo shares jump as World Cup hype helps drinks giant back to sales growth May 6, 2026 Shares in Diageo jumped on Wednesday morning as high hopes for a high-drama World Cup has helped lift the drinks firm’s sales back into positive territory. The Guinness and Johnnie Walker maker, which has been battling a slowdown in demand for spirits, said it had seen “some benefit” of “advance sales” ahead of the start [...]
FTSE 100 Live: Stocks jump; oil dips below $100 as Trump says Iran deal close May 6, 2026 Good morning and welcome back to the City AM liveblog. Brent crude dipped below $100 at Wednesday lunchtime after Donald Trump has hailed “great progress” towards a “final agreement” with Iran, prompting a rally in the FTSE, Asian markets and Wall Street. In a sudden reversal late last night, President Trump said he will pause [...]
Diageo launches the new Scotch whisky Rare Series aimed at private clients April 30, 2026 Diageo has unveiled a new high-end whisky collection as it doubles down on its push into the global luxury spirits market. The drinks giant has introduced the Rare Series, a collection of Scotch whiskies aimed at private clients and collectors. The initial release includes five single malts drawn from distilleries across Scotland. The range features [...]
Celebrity-backed spirit brands steal the spotlight April 9, 2026 Whisky Business: City AM’s monthly look at the world of whisky. According to research conducted by the Financial Times, five of the biggest listed alcohol producers, Diageo, Pernod Ricard, Campari, Brown Forman and Rémy Cointreau, are sitting on $22bn worth of ageing spirits, the highest level of inventory in more than a decade. This growing pool [...]