Tag: Beverages/Drinks

Suntory Beverage & Food Exits Nonalcoholic Drinks Business in Indonesia
World

Suntory Beverage & Food Exits Nonalcoholic Drinks Business in Indonesia

Suntory Beverage & Food is exiting its nonalcoholic beverage business in Indonesia after 12 years of selling bottled tea, jelly drinks and other products in the Southeast Asian country.The Japanese company will transfer its 75% stake in Suntory Garuda Beverage to Garudafood, it said in a statement on Thursday. After the transfer, Suntory’s main focus in Indonesia will be the health-enrichment product category.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
The Joy of the Boston Tea Party, 250 Years Later
Business

The Joy of the Boston Tea Party, 250 Years Later

A wooden ship called the Dartmouth sailed into Boston Harbor 250 years ago carrying 114 chests of East India Co. tea that brewed, in a way, the American Revolution. On Dec. 16, 1773, fewer than 20 days after the Dartmouth’s arrival from London, dozens of Bostonians climbed aboard and dumped the tea into the harbor, protesting a Parliament-imposed tea tax. The event was recognized immediately as a world-changing event by perceptive observers. “The most magnificent Movement of all,” John Adams wrote in his diary the next day.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
BOJ Should Raise Interest Rates Before Next Summer, Suntory CEO Says
World

BOJ Should Raise Interest Rates Before Next Summer, Suntory CEO Says

TOKYO—Takeshi Niinami, chief executive of beverage maker Suntory Holdings and the head of a Japanese business lobby, called on the Bank of Japan to raise interest rates, saying it would help boost the Japanese economy’s productivity and competitiveness.If the Bank of Japan raises interest rates, “the Japanese business community would be ready—which means they should raise interest rates, both long and short,” Niinami said in an interview with The Wall Street Journal on Monday.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
European Developers Are Wooing Wine Lovers With Their Own Hassle-Free Vineyards
World

European Developers Are Wooing Wine Lovers With Their Own Hassle-Free Vineyards

With careers in Northern California’s tech sector and a primary home on the eastern shore of San Francisco Bay, Clifton Lewis Lyles and his wife, Serene Lewis Lyles, have long spent their down time among the vineyards and wineries of Sonoma and Napa counties. Now in their early 50s, the two are getting ready for something new—their own bit of vineyard and their own private wine label, some 5,500 miles away in the Alentejo region of Portugal.   The opportunity comes with their new vacation home: a two-bedroom, 2,500-square-foot villa, currently under construction, in L’and Vineyards, a luxury development about an hour’s drive from Lisbon. The 163-acre estate, with 15 acres of vineyards, lets its homeowners—spread across a total of about 80 units in the coming years—become de facto wine...
Remy Cointreau Posts a Drop in Sales, Earnings Due to US Headwinds
World

Remy Cointreau Posts a Drop in Sales, Earnings Due to US Headwinds

Updated Nov. 30, 2023 2:48 am ETRemy Cointreau posted a decline in sales and earnings for the first half of fiscal 2024 due to high inventories and rising interest rates in the U.S. market.The French distiller booked current operating profit of 169.1 million euros ($185.5 million) in the six months to Sept. 30, which was 43% lower on year organically. This reflected a decrease in sales that was partially offset by a reduction in overhead costs, the company said on Thursday.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
How Starbucks Lost the Top Spot in China’s Coffee Race
World

How Starbucks Lost the Top Spot in China’s Coffee Race

Listen to article(2 minutes)Starbucks is losing its prime spot among chains racing to meet China’s growing thirst for coffee.Luckin Coffee has surpassed Starbucks as China’s biggest coffee chain by sales and units, company reports show, a comeback for the Chinese company after an accounting scandal that stalled its growth.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Guinness Maker’s Morning After Offers Little Reassurance
Money

Guinness Maker’s Morning After Offers Little Reassurance

Global liquor giant Diageo is reeling from the sudden death of its longtime chief executive in June followed by a profit warning last week that tanked the stock. But its real problem is more fundamental: the slow pace of sales in North America after an initial, post-Covid surge. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
New York AG Files Lawsuit Against PepsiCo, Alleging Pollution of Buffalo River
World

New York AG Files Lawsuit Against PepsiCo, Alleging Pollution of Buffalo River

Nov. 15, 2023 12:19 pm ETThe attorney general of New York has filed a lawsuit alleging PepsiCo’s production of single-use plastic is polluting the Buffalo River.Letitia James said Wednesday that PepsiCo’s single-use plastic production contributes significantly to high levels of plastic pollution along the Buffalo River that is contaminating drinking water and harming wildlife.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Diageo Shares Tumble After Guidance Cut
World

Diageo Shares Tumble After Guidance Cut

Diageo shares had their worst one-day fall in more than three years after the liquor maker cut its guidance for both the short and medium term.Shares at 0822 GMT were down 306 pence, or 9.4%, to 2,940 pence.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8