Chris Wickham News
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Diageo Plc Chief Executive Officer Paul Walsh will step down after almost 13 years shaping the company into the world’s largest distiller and hand over the reins to his chief operating officer.
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Imperial Tobacco Group Plc, Europe’s second-biggest tobacco company, reported growth in first-half earnings that matched analysts’ estimates after raising prices for cigarettes across its main U.K. market.
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Diageo Plc, the maker of Johnnie Walker Scotch, will buy a 53.4 percent stake in India’s United Spirits Ltd. for 111.7 billion rupees ($2.04 billion) to gain leadership in the world’s largest whiskey-consuming nation.
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British American Tobacco Plc, Europe’s largest cigarette maker, said the strength of sterling against currencies such as the Brazilian real checked growth in first-half earnings, sending the shares lower.
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Danone, the world’s biggest yogurt maker, reported first-half profit that missed analysts’ expectations amid higher costs for financing and raw materials.
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Nestle SA’s sales growth may trail that of Danone for a second year in 2011 as its smaller French rival benefits from a greater concentration on healthy food and emerging markets such as Russia and China, analysts said.
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British American Tobacco Plc, Europe’s largest cigarette maker, said it will step up a buyback program this year by repurchasing 1.25 billion pounds ($2 billion) of shares after profit rose 11 percent in 2011.
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Nestle SA, the world’s biggest food company, said revenue growth is likely to be at the top end of its forecast range this year after reporting the biggest sales increase since the first half of 2008.
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Danone , the world’s biggest yogurt maker, reported first-quarter sales that beat analysts’ estimates, led by bottled water brands that include Evian.
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