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☆ Booze sales fall back to earth — except for one retailer
▼ + stars: | 2024-11-04 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +4 min

That has forced Remy Cointreau, whose stock has fallen 50% for the year, to slash its full-year guidance and expects another year of double-digit declines in sales. The declines are a “normalization” within the industry, with alcohol sales nearing their pre-Covid levels, according to Marten Lodewijks, IWSR’s president for the US division. Cheaper private labels have had a boon in sales, mirroring a larger trend of customers seeking more affordable options in all aspects of their life. Aldi’s lineup is growing double digits in sales, bucking the broader industry trends of declines, Arlin Zajmi, director of national buying for adult beverages, told CNN. Aldi has seen its wine and beer sales soar.

Persons: Remy Cointreau, Pernod Ricard, Jose Cuervo, Proximo, ” Lisa Hawkins, ”, Luca Marotta, Remy Cointreau’s, Jameson, Kahula, Hélène de Tissot, Marten Lodewijks, bottlers, Arlin Zajmi, Scott Olson, it’s, ” Zajmi, ” Bryan Roth Organizations: New, New York CNN, Anheuser, Busch, CNN, Spirits, Consumers, Aldi Locations: New York, United States

☆ China penalizes European brandy in tit-for-tat response
▼ + stars: | 2024-10-08 | by ( ) edition.cnn.com time to read: +3 min

An investigation has preliminarily determined that dumping of brandy from the EU is threatening China’s own brandy sector with “substantial damage,” the Chinese Commerce Ministry said. It also accounted for 99% of China’s brandy imports last year, with French brandy shipments reaching $1.7 billion. The Chinese commerce ministry gave no details. Ahead of the vote, in late August, China had suspended its planned anti-dumping measures on EU brandy, in an apparent goodwill gesture, despite determining that EU brandy had been sold in China at below-market prices. At the time, the Commerce Ministry said its probe would end before January 5, 2025, but that it could be extended.

Persons: Hennessy, Remy Martin, Pernod Ricard, Remy Cointreau, Martell Organizations: Paris Reuters, European Union, Chinese Commerce Ministry, EU, Commerce Ministry, China’s Commerce, distillers, SAIC, European Locations: Beijing, Paris, China, France

☆ Coca-Cola and Bacardi testing canned rum and cokes
▼ + stars: | 2024-09-17 | by ( Kristian Burt | In | ) www.cnbc.com time to read: +2 min

Coca-Cola just ordered another round in the booming canned cocktail market. It's going with another classic, launching a rum and coke in collaboration with Bacardi Limited. The two brands announced Tuesday plans to release the ready-to-drink cocktail in several international markets, starting with an initial launch in Mexico and select European markets in 2025. The new drink isn't Coke's first entry into the premixed cocktail market. Later that same year, Coca-Cola brand Sprite partnered with Pernod Ricard's Absolut Vodka for two versions of a premixed cocktail, one with Sprite and the other with Sprite Zero Sugar.

Persons: Molson Coors, Hard Seltzer, Brown Forman, Jack Daniels, Coke, Pernod, James Quincey, seltzer Organizations: Bacardi Limited, CNBC, U.S ., Spirits Council, Molson, Boston Beer, View Research Locations: Mexico, U.S

☆ Diageo sales slump as consumers ditch Johnnie Walker whisky and Casamigos tequila
▼ + stars: | 2024-07-30 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Diageo, one of the world’s biggest drinks makers, has reported its first drop in sales since the pandemic, as cash-strapped consumers cut back on spending. The maker of Johnnie Walker whisky, Casamigos tequila and Guinness beer is the latest consumer business to report a hit to sales as inflation and high interest rates take a bite out of household budgets. On Monday, McDonald’s (MCD) said global sales fell for the first time since 2020 as fewer customers visited the fast-food chain’s restaurants. Sales of Johnnie Walker fell by 2% globally, and by 10% in North America, the company’s largest region. That demand has since declined, while higher inflation and interest rates have left consumers with less to spend on luxuries.

Persons: Johnnie Walker, Burger, Debra Crew, George Clooney, Aarin, Hargreaves Lansdown, ”, Smirnoff, “ That’s, Pernod Ricard, Jameson, Tequila — Organizations: London CNN, Diageo, Starbucks, DEO, “, International Organisation of Vine Locations: America, Caribbean, North America, London

☆ Pernod Ricard is ditching wine brands as the world drinks less
▼ + stars: | 2024-07-17 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Pernod Ricard is selling most of its wine brands, as wine consumption is falling globally, and will instead focus on growing its champagne and premium spirits labels, including in the United States. The deal comes after wine consumption globally hit a 27-year low last year, according to an estimate by the International Organisation of Vine and Wine (OIV), an industry group. “The divestment (by Pernod Ricard) makes sense as the segment has been underperforming for a while now and the global wine market is still challenging,” Sarah Barrett, the executive editor of Wine & Spirits Daily, a US-based trade publication, told CNN. Pernod Ricard is also doubling down on American whiskey. Falling wine consumption globally has collided with severe pressures on wine production, forcing many vineyards in Europe to close their doors.

Persons: London CNN — Pernod Ricard, Jameson, Gin —, Pernod Ricard, St Hugo, Stoneleigh, ” Sarah Barrett, Barrett, ” Richard Black, Jordan Valinsky Organizations: London CNN, Wine Holdco, International Organisation of Vine, Campo Viejo, Consumers, Wine, Daily, CNN, distillers, Wine Estates, North American Distillers Locations: United States, Australia, New Zealand, Spain, Orlando, Brancott Estate, Campo Viejo, Ysios, Tarsus, India, Campo, China, US, Europe, New York

☆ French cognac makers surge as Macron hints at cooling of China trade dispute
▼ + stars: | 2024-05-07 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

French President Emmanuel Macron (R) shakes hands with Chinese President Xi Jinping after delivering a joint statement at the Elysee Palace, as part of the Chinese president's two-day state visit in France, in Paris on May 6, 2024. The French president his Chinese counterpart for a state visit on May 6, 2024, seeking to persuade the Chinese leader to shift positions over Russia's invasion of Ukraine and also imbalances in global trade. (Photo by Sarah Meyssonnier / POOL / AFP) (Photo by SARAH MEYSSONNIER/POOL/AFP via Getty Images)Shares of several French cognac makers rallied on Tuesday after France's President Emmanuel Macron suggested that trade tensions between China and the European Union, which could impact the drinks makers, may ease. France's Macron on Monday addressed the ongoing trade dispute with Chinese President Xi Jinping and gifted him a top-range bottle of French cognac which reportedly retails at over $3,200. "I thank the president for his open attitude regarding provisional measures on cognac and for his wish not to implement them," Macron said in a press conference on Monday.

Persons: Emmanuel Macron, Xi Jinping, Sarah Meyssonnier, SARAH MEYSSONNIER, Pernod Ricard, Remy Cointreau, France's Macron, Macron Organizations: Getty, European Union Locations: France, Paris, Ukraine, China, Europe

☆ Stock Market Today: Dow Futures Gain, Gloom Stalks European Luxury
▼ + stars: | 2023-11-10 | by ( ) www.wsj.com time to read: +1 min

Another Treasury-market headache: the hack of a U.S. arm of China’s biggest bank , ICBC, which facilitates trading in U.S. government debt. Stock futures were mixed. Two reports—one from Cartier owner Richemont, the other from booze giant Diageo—suggested global consumers are pulling back on spending as economies slow. The cryptocurrency has rallied on hopes the U.S. will approve bitcoin exchange-traded funds, and logged its highest end-of-day level Thursday since May 2022. Hong Kong’s Hang Seng Index fell almost 2%, while shares in Europe also declined.

Persons: Bond, wobbles, Jerome Powell, Richemont, Diageo —, Pernod Ricard, Gucci Organizations: Federal, Treasury, Dow, Nasdaq, Diageo Locations: U.S, ICBC, Cartier, Europe

☆ Kahlúa created a $105 fragrance that smells like an espresso martini
▼ + stars: | 2023-11-07 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —For those that can’t get enough of espresso martinis, there’s now a gift that smells like the iconic cocktail that’s experiencing a resurgence for its 40th birthday. Absolut Vodka and Kahlúa coffee liqueur, two spirits that are often mixed to create an espresso martini, are releasing a $105 fragrance called “Blend No. The espresso martini is a mix of vodka, coffee liqueur and espresso. The rise of espresso martinis has made the 87-year-old brand more appealing to younger drinkers, according to Rima Sawaya, Kahlúa’s brand director. “The elegance of the espresso martini elevates your cocktail experience at a bar or restaurant, and it also serves as an impressive after-dinner cocktail when entertaining guests at home.”

Persons: there’s, Absolut, ”, McDonald’s, Dick Bradsell, Pernod, Rima Sawaya, Lisa Hawkins Organizations: New, New York CNN, KFC, Pernod Ricard, “, CNN, Council Locations: New York, London, Manhattan

Bottles of Ricard's aniseed-flavoured beverage are pictured at the Ricard manufacturing unit in Lormont, near Bordeaux, France February 15, 2019. REUTERS/Regis Duvignau/File Photo Acquire Licensing RightsPARIS/LONDON, Oct 19 (Reuters) - French spirits maker Pernod Ricard (PERP.PA) said on Thursday it expected to grow sales over the coming year, despite a difficult first quarter marred by big drops in sales in the United States and China. Pernod struggled as a tough economy in China dampened demand and amid inventory adjustments in the United States, where sales are also normalising after a post-COVID surge. "I am confident that we can deliver broad-based and diversified sales growth in FY24," Ricard said in a statement. But, he continued, it's not clear to what degree there will have been improvement in the economic environment hurting Pernod's performance right now.

Persons: Regis, Pernod Ricard, PERP.PA, Pernod, Alexandre Ricard, Ricard, Martell, Mumm, Pernod's, Bernstein, Trevor Stirling, it's, Helene de Tissot, Dominique Vidalon, Emma Rumney, Sherry Jacob, Phillips, Mark Potter Organizations: Ricard, REUTERS, Diageo, Thomson Locations: Lormont, Bordeaux, France, LONDON, United States, China, India, Americas, Paris, London

☆ Read the Notion memo Dharma, a travel startup that crafts travel experiences for creators and brands, used to raise $4.7 million
▼ + stars: | 2023-10-17 | by ( Marta Biino | ) www.businessinsider.com time to read: +2 min

Dharma, a travel startup that plans and sells trips hosted by creators and brands, recently announced $4.7 million in pre-Series A funding. Dharma cofounder and CEO Charaf El Mansouri told Insider the company aims to support creators and brands in organizing exclusive travel experiences by dealing with operations and liaising with local travel operators as needed. "By definition, I'm a yoga teacher, not a professional travel manager. The company's big challenge ahead, which the funds from the raise will be used for, is to achieve scale. Here is the 17-page Notion memo that the cofounders used to raise $4.7 million.

Persons: Stephen Ross, Matt Higgins, Eric Cantona, Charaf El Mansouri, Dharma, Emily, Kelsey Wells, Pernod, El Mansouri Organizations: San, Convivialite Ventures, FJ Labs, Tank, Paramount Global, Netflix, Pernod Ricard Locations: San Francisco, Paris, El

☆ Absolut Vodka and Coke's Sprite to combine in canned cocktail
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +1 min

[1/2] A Coca-Cola logo is pictured during an event in Paris, France, March 21, 2019. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsLONDON, Oct 16 (Reuters) - Absolut Vodka and lemonade drinkers will soon be able to sip their preferred cocktail from a can, after drinks makers Pernod Ricard (PERP.PA) and Coca-Cola (KO.N) agreed to a pre-mixed version made from the spirit combined with Sprite. France's Pernod and Coke said on Monday the Absolut & Sprite canned cocktail will be launched in select European markets, including Britain, the Netherlands and Spain, from early 2024. The cans will feature two of the world's most recognisable trade marks, the companies said. Reporting by Emma RumneyOur Standards: The Thomson Reuters Trust Principles.

Persons: Benoit Tessier, Pernod Ricard, Coke, Jack Daniels, Emma Rumney Organizations: REUTERS, Thomson Locations: Paris, France, Britain, Netherlands, Spain

☆ An Absolut Vodka and Sprite canned cocktail is coming next year
▼ + stars: | 2023-10-16 | by ( Laya Neelakandan | ) www.cnbc.com time to read: +1 min

The new cocktail will contain a mix of Absolut Vodka and Sprite, the companies said. The drink will be available in two versions with Sprite and Sprite Zero Sugar. The announcement didn't say when the Absolut and Sprite drinks would hit the U.S. market. "We are excited about our new relationship with Pernod Ricard and look forward to the introduction of Absolut & Sprite." Vodka is already one of the most popular bases for alcoholic ready-to-drink beverages, and lemon-lime soft drinks such as Sprite are one of the most popular mixers in premixed cocktails.

Persons: Pernod Ricard, Jack, James Quincey Locations: United Kingdom, Netherlands, Spain, Germany

Sept 20 (Reuters) - Consumer goods firms like Nestle (NESN.S), Lindt (LISN.S) and Unilever (ULVR.L) may face increased pressure across Europe to cut prices after being singled out by French retailers and politicians, industry experts say. France is a crucial country for consumer goods companies, having long outstripped Germany, Italy, Spain and others as the European Union's biggest market for groceries by supermarket revenues, according to research firm IBISWorld. That means consumer groups will face pressure to rein back prices across the European Union. Because these supermarkets are in different countries and do not compete with one another, they often combine forces to negotiate with consumer goods makers. Consumer goods makers have for more than two years grappled with sky-rocketing input, supply chain and labour costs that they have either absorbed - taking a hit to margins - or passed on to retailers.

Persons: It's, Laurent Thoumine, Thoumine, Ferrero's, Pernod Ricard's Ricard, Systeme, Germany's, Switzerland's, Italy's, Philippe Michaud, Leclerc, Bruno Le Maire, Le Maire, Richard Saldanha, Lindt, Saldanha, Richa Naidu, Helen Reid, Matt Scuffham, Catherine Evans Organizations: Consumer, Nestle, Unilever, Carrefour, PepsiCo, European, Reuters, European Union, Epic Partners, French Finance, Aviva Investors, Paris, Thomson Locations: Europe, France, Germany, Italy, Spain, Eurelec

☆ Singapore’s central bank boss faces a tough start
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +2 min

SINGAPORE, Sept 5 (Reuters Breakingviews) - Central banks pride themselves on being predictable. He is a former deputy to Menon, and currently a permanent secretary at the manpower ministry after spending 18 years in various stints at the central bank. He has led MAS’ financial stability assessment of the city state and completed a two-year secondment to the International Monetary Fund. During his 12-year term, he built up Singapore’s reputation as a global fintech hub and boosted its appeal as a leading financial centre. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Ravi Menon, Chia Der, There’s, Chia, Menon, Pernod Ricard, Una Galani, Katrina Hamlin Organizations: Reuters, Monetary Authority of, MAS, International Monetary Fund, X, Thomson Locations: SINGAPORE, Monetary Authority of Singapore, Singapore, China

☆ Lithium miners’ $4.3 bln dance is a two-way hedge
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +2 min

Albemarle's Chile country manager Ignacio Mehech shows an illustration of brines purification process to obtain lithium carbonate at their lithium plant placed on the Atacama salt flat, Chile, May 4, 2023. REUTERS/Ivan Alvarado Acquire Licensing RightsMELBOURNE, Sept 4 (Reuters Breakingviews) - On the surface, offering a near-100% premium for an as yet unproductive lithium miner may seem over the top. Dig down a bit, though, and U.S.-based Albemarle’s (ALB.N)A$6.6 billion($4.3 billion) sweetened all-cash offer on Monday for Australian rival Liontown Resources (LTR.AX) has financial merit, as well as offering each side a handy hedge. A plan by Chile’s government to nationalise lithium resources adds more reason for the deal. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Ignacio Mehech, Ivan Alvarado, Albemarle, Kathleen, Antony Currie, Pernod Ricard, Una Galani, Thomas Shum Organizations: REUTERS, Rights, Reuters, Liontown Resources, Alpha, X, Thomson Locations: Chile, U.S, Western Australia, EBITDA, Albemarle

☆ Fewer US temp jobs may flag longer lasting concern
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Sept 1 (Reuters Breakingviews) - A steady drop in the temporary worker employment is a concerning blight in an otherwise steady U.S. labor market. Companies that recruit and place temps tend to cut payrolls when the first signs of an economic slowdown emerge. The crest, at 3.2 million, occurred 17 months ago, in March 2022, signaling that weakness could be ahead. Although the jobless rate reached 3.8% in August, its highest since early 2022, there are few other glaring employment concerns. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Ben Winck, Pernod Ricard, Jeffrey Goldfarb, Sharon Lam Organizations: Reuters, Bureau of Labor Statistics, Companies, X, Thomson

☆ India's twin growth engines face turbulent weather
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +2 min

MUMBAI, Sept 1 (Reuters Breakingviews) - India’s gross domestic product grew 7.8% in the April to June quarter, its fastest pace in a year. The print preserves the South Asian nation’s title for the fastest-growing major economy, yet the eye-popping level may not sustain. A patchy monsoon and high food costs threaten the twin engines behind the latest headline figure. Meanwhile, El Nino weather conditions mean the winter agriculture crop could be as weak as the summer yield, keeping prices high for longer. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Narendra Modi’s, Modi, Shritama Bose, Pernod Ricard, Una Galani, Thomas Shum Organizations: Reuters, Tata Consultancy Services, Reserve Bank, India’s, X, Microsoft, Thomson Locations: MUMBAI, El Nino

☆ Morning Bid: Markets brace for EU, US inflation data blitz
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +3 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 30, 2023. REUTERS/Staff/File Photo Acquire Licensing RightsA look at the day ahead in European and global markets from Brigid RileyA slew of economic data is set to roll out on Thursday, including preliminary euro zone CPI numbers and U.S. personal consumption data, with markets hankering for further inflation relief as central bank policy meetings march closer into view. The pan-European STOXX 600 index (.STOXX) closed lower and the euro jumped in the aftermath of the data, with markets now bracing for the last day of a gloomy August. Expectations are still hovering around a 50-50 chance of another ECB hike, with the focus on preliminary euro zone CPI data due later in the day. Meanwhile, Chinese stocks were looking glum again in the Asian morning after an official factory survey showed manufacturing activity slowed for a fifth month straight.

Persons: Brigid Riley, Collins, Lululemon, Pernod Richard, Edmund Klamann Organizations: REUTERS, Staff, European Central Bank, Reuters Graphics, Federal Reserve, UBS, Credit Suisse, Credit Suisse AG, PCE, Dollar, Corp, Broadcom Inc, Thomson Locations: Frankfurt, Germany, Spain, France, U.S, Italy, Switzerland, Central

☆ Pernod Ricard shares face a lengthy dry spell
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +2 min

A glass of cognac is pictured on a bar in the Manhattan borough of New York City, November 13, 2015. REUTERS/Mike Segar Acquire Licensing RightsLONDON, Aug 31 (Reuters Breakingviews) - Pernod Ricard (PERP.PA) shareholders have few reasons to cheer. The owner of Mumm champagne and Absolut Vodka said that China’s property crunch was making wholesalers cautious and keeping punters out of nightclubs. China has been a key source of growth for drink-makers: helped by Asia, Pernod Ricard’s sales outside of Europe and the Americas grew 17% in 2023. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mike Segar, Pernod Ricard, Mumm, Remy Cointreau, Aimee Donnellan, Mukesh Ambani’s, Neil Unmack, Oliver Taslic Organizations: REUTERS, Reuters, Investors, Pernod, Diageo, X, Thomson Locations: Manhattan, New York City, U.S, China, Asia, Europe, Americas

☆ Thriving US makes Dollar General a tougher sell
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Aug 31 (Reuters Breakingviews) - The U.S. economy’s gain is shaping up to be Dollar General’s (DG.N) loss. Dollar General sales grew a record 16.3% when Covid-19 slammed the U.S. in 2020, but rose only 2.5% when the economy reopened in 2021. During the recession years of 2008 and 2009, sales grew 9% and 9.5%, respectively. Dollar General now reckons earnings in the year to January 2024 could fall as much as 34%, compared to a previous estimate of a drop of up to 8%. Dollar General’s valuation is still far from discounted.

Persons: Jeff Owen, Ben Winck, Pernod Ricard, Peter Thal Larsen, Sharon Lam Organizations: Reuters, Atlanta Federal, X, Microsoft, Thomson

☆ Microsoft swerves to avoid EU speeding ticket
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +2 min

Microsoft Teams app is seen on the smartphone placed on the keyboard in this illustration taken, July 26, 2021. Yet Microsoft has arguably created a lot more value using its market clout. Back in 2016, Slack was the hottest new product for helping office workers communicate with over 4 million users. Combining Teams with its Office 365 and Microsoft 365 software bundles gave the messaging and collaboration app a big leg up. Microsoft said on a call in April that Teams had over 300 million monthly users.

Persons: Slack, Robert Cyran, Pernod Ricard, Mukesh Ambani’s, Peter Thal Larsen, Sharon Lam Organizations: Microsoft, Reuters, Big Tech, European Union, Apps, X, Thomson Locations: Europe

☆ Remy Cointreau confident on H2 rebound after weak start to year
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +2 min

PARIS, July 25 (Reuters) - French spirits group Remy Cointreau (RCOP.PA) on Tuesday reported a fall in first-quarter organic sales, reflecting weaker U.S. demand, high year-ago comparables and destocking, and said it was banking on a sharp rebound in sales in the U.S. from the third quarter. The recovery in China, which makes 35% of group sales at par with the United States, was led by all cognac brands including CLUB, VSOP, XO and Louis XIII. During the COVID-19 pandemic, Remy Cointreau and rivals such as Pernod Ricard (PERP.PA) benefited from people drinking more expensive types of alcohol at home. There have, however, been signs that spirits industry growth was slowing, notably in the United States, as positive effects from the pandemic fizzle out. ($1 = 0.9033 euros)Reporting by Dominique Vidalon; Editing by Varun H K and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Remy Cointreau, Remy Martin, Cointreau, Louis XIII, Jefferies, Pernod Ricard, Dominique Vidalon, Varun, Stephen Coates Organizations: CLUB, Louis, Thomson Locations: U.S, China, United States, EMEA, Asia

☆ China growth concerns weigh on European shares at open
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of LVMH Moet Hennessy Louis Vuitton is seen during the company's shareholders meeting in Paris, France, April 20, 2023. REUTERS/Gonzalo Fuentes/File Photo/File PhotoJuly 5 (Reuters) - European shares fell on Wednesday as fresh data pointing to China's faltering economic recovery soured investor sentiment, which has been under pressure from uncertainty about future monetary policy steps by major central banks. The pan-European STOXX 600 index (.STOXX) was down 0.4% by 7:02 GMT, following a quiet session on Tuesday when the U.S. markets were closed for Independence Day. Miners (.SXPP) fell 1.0% and were the biggest sectoral decliners as concerns around weak demand from top consumer China, as well as slowing growth in other major economies, hurt metal prices. Reporting by Amruta Khandekar; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

Persons: LVMH Moet Hennessy Louis Vuitton, Gonzalo Fuentes, Pernod Ricard, Hermes, Amruta Khandekar, Dhanya Ann Thoppil Organizations: REUTERS, Independence, Thomson Locations: Paris, France, U.S, China

[1/2] A sign reading "Low prices for you" is seen on a shopping trolley in a supermarket in Nice, France, March 1, 2023. REUTERS/Eric Gaillard/File PhotoLONDON/PARIS, June 23 (Reuters) - Danone (DANO.PA) and Kellogg (K.N) are among 75 consumer goods companies that French authorities have asked to cut prices, according to a list seen by Reuters that sources say the government is using for the initiative. The French government is using the list seen by Reuters, produced by a research group, as a reference for the project, according to three sources with knowledge of the matter. Some consumer goods makers have said recently that costs are starting to ease, leading lawmakers and regulators to accuse companies of keeping prices high unnecessarily. Investors have in recent months warned that consumer goods companies should start easing price increases as supply chain costs decline, worried that further hikes could hit market share and margin growth.

Persons: Eric Gaillard, Bruno Le Maire, Knorr, Avril, Pernod Ricard, Kellogg, Richa Naidu, Matt Scuffham, Jan Harvey Organizations: REUTERS, Danone, Kellogg, Finance, Reuters, Unilever, Nestle, ABI, Thomson Locations: Nice, France, PARIS, Ukraine

☆ The Best Place to Drink Is the Emptiest Bar in the City
▼ + stars: | 2023-06-20 | by ( John Cotter | ) www.nytimes.com time to read: +4 min

A decade on, I talk about this when I see old friends at hotel bars. It’s the kind of conversation we wouldn’t be able to have at a dark place full of thrum, or a pop-song bar with ironic cocktails. In a leather half-booth, in the emptiest bar in the city, there is no impetus to be decorous. I should clarify that I don’t mean fancy hotel bars — not the Ace, or even the W; not a storied corner like Bemelmans at the Carlyle. Return, for as long as you like, to the quiet place inside yourself that is always arriving, always traveling.

Persons: Carlyle, Hilton, —, Kate Wagner, Jen, Sommer, Let’s Organizations: Marriott Locations: cacophony, The Atlantic, polyamory

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