Latest news with #spirits
Bloomberg
4 hours ago
- Business
- Bloomberg
EU Said to Push for a Spirits-Wine Tariff Deal Touted by Arnault
By , Jorge Valero, Angelina Rascouet, and Josh Wingrove Save The European Union is pushing to get more exemptions from the 15% tariff agreed with the US this week, with wines and spirits a top priority. The bloc, backed by industry leaders such as LVMH's Bernard Arnault, is seeking a deal that would take the spirits and wine sectors at least back to the way they operated before US President Donald Trump's Liberation Day tariff announcements, people familiar with the matter said.
Yahoo
5 hours ago
- Business
- Yahoo
Diageo names Deirdre Mahlan as interim CFO
(Reuters) -Diageo said on Wednesday it has appointed Deirdre Mahlan as interim finance chief to succeed Nik Jhangiani who took over as interim CEO of the world's biggest spirits maker earlier this month. A veteran in the spirits and beverage industry, Mahlan previously served as the finance chief of Diageo for five years. She was the CEO of U.S.-based luxury wine producer The Duckhorn Portfolio, ahead of its sale last year. Sign in to access your portfolio
Reuters
5 hours ago
- Business
- Reuters
Diageo names Deirdre Mahlan as interim CFO
July 30 (Reuters) - Diageo (DGE.L), opens new tab said on Wednesday it has appointed Deirdre Mahlan as interim finance chief to succeed Nik Jhangiani who took over as interim CEO of the world's biggest spirits maker earlier this month. A veteran in the spirits and beverage industry, Mahlan previously served as the finance chief of Diageo for five years. She was the CEO of U.S.-based luxury wine producer The Duckhorn Portfolio, ahead of its sale last year.
Yahoo
2 days ago
- Business
- Yahoo
EU-US trade deal expected to confirm duty-free trade in spirits, French exporters say
PARIS (Reuters) -The French wine and spirits exporters' federation FEVS said on Monday the trade deal struck between the European Union and the United States was expected to confirm duty-free trade in spirits. Since April, U.S. duties on EU spirits had been provisionally set at 10%. As far as wine was concerned, not everything has been decided yet, the federation said, calling on the European Commission and France to obtain a cut in customs duties. "Disaster has been avoided, but the coming days will be crucial for the sector," FEVS said in a statement. "The agreement ... should confirm the restoration of bilateral trade free of duties for spirits, which we are eager to see confirmed in the official documents expected," said federation President Gabriel Picard. "When it comes to wines, everything is not yet settled: that is why we are encouraging the European Commission and France to fully commit to this final stretch, to obtain the reduction in customs duties on wines, a proposal supported by both American and European stakeholders," he added. According to a study by the Wine & Spirits Wholesalers Association, a 15% increase in customs duties on wines would result in the loss of 17,000 jobs and a loss of more than $2.5 billion worth of business in the United States. Under the framework deal, announced on Sunday between two economies accounting for almost a third of global trade, the U.S. will impose a 15% import tariff on most EU goods from next month, but it offers some protection for critical industries such as cars and pharmaceuticals. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
EU-US trade deal expected to confirm duty-free trade in spirits, French exporters say
PARIS (Reuters) -The French wine and spirits exporters' federation FEVS said on Monday the trade deal struck between the European Union and the United States was expected to confirm duty-free trade in spirits. Since April, U.S. duties on EU spirits had been provisionally set at 10%. As far as wine was concerned, not everything has been decided yet, the federation said, calling on the European Commission and France to obtain a cut in customs duties. "Disaster has been avoided, but the coming days will be crucial for the sector," FEVS said in a statement. "The agreement ... should confirm the restoration of bilateral trade free of duties for spirits, which we are eager to see confirmed in the official documents expected," said federation President Gabriel Picard. "When it comes to wines, everything is not yet settled: that is why we are encouraging the European Commission and France to fully commit to this final stretch, to obtain the reduction in customs duties on wines, a proposal supported by both American and European stakeholders," he added. According to a study by the Wine & Spirits Wholesalers Association, a 15% increase in customs duties on wines would result in the loss of 17,000 jobs and a loss of more than $2.5 billion worth of business in the United States. Under the framework deal, announced on Sunday between two economies accounting for almost a third of global trade, the U.S. will impose a 15% import tariff on most EU goods from next month, but it offers some protection for critical industries such as cars and pharmaceuticals. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
