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☆ The founder of the best-selling Black-owned spirit brand shares why she prefers to work with individual investors over VC firms and how they helped her reach $100 million in sales
  + stars: | 2023-03-01 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com   time to read: +3 min
Fawn Weaver's Uncle Nearest Premium Whiskey is the best-selling Black-owned spirit brand in the US. She chose to take funding from individual investors, not from VC or private-equity firms. "You also are gaining a sales force if your investors are excited about your brand," she said. "They have been a huge sales force for us." "One of our first really big accounts nationwide was to have Uncle Nearest cocktails on the menu."
☆ Top Delhi minister arrested in India liquor probe
  + stars: | 2023-02-27 | by ( ) www.reuters.com   time to read: +2 min
NEW DELHI, Feb 27 (Reuters) - India's federal investigating agency arrested a top local minister in the capital territory of New Delhi late on Sunday in connection with alleged irregularities in a liquor policy, the most high-profile arrest in the case so far. Manish Sisodia, the deputy chief minister in the Delhi government was arrested by India's federal crime agency, the CBI (Central Bureau of Investigation) late Sunday night and will be produced in a local court on Monday. Sisodia was arrested in an ongoing investigation in "a case related to alleged irregularities in framing & implementation of the excise policy", the CBI said in a release. His arrest is dirty politics," Arvind Kejriwal, Delhi's chief minister and head of the Aam Aadmi Party said in a tweet hours after Sisodia's arrest. India's financial crime-fighting agency, the Enforcement Directorate is separately investigating French liquor major Pernod Ricard for allegedly violating the same liquor policy.
☆ Venezuelan liquor cocuy is winning awards, but producers face hurdles
  + stars: | 2023-02-27 | by ( Keren Torres | ) www.reuters.com   time to read: +5 min
Venezuela's cocuy producers, however, say limited wild crops and the labor-intensive process of making the drink without additives - the prize-winning version of the liquor - are complicating efforts to increase output. Producers say there is no data on annual national production or sales because much of cocuy output is made for local consumption. A liter of 100% agave cocuy can sell for between $18 and $60, while its production costs average about $12 without commercialization costs. Of the 365 cocuy producers in Lara, whose arid and semi-arid climate makes agave abundant, just 70 make the liquor with 100% agave. The difficult production process begins by cutting back the plant's leaves to reach its "head," said Siquisique producer Nelson de la Rosa.
☆ The founder of Uncle Nearest Premium Whiskey, the best-selling Black-owned spirit brand in the US, explains how she reached $100 million in sales
  + stars: | 2023-02-18 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com   time to read: +6 min
Fawn Weaver founded Uncle Nearest Premium Whiskey, the US's best-selling Black-owned spirit brand. Uncle Nearest has generated more than $100 million in sales since its launch, information Insider verified with documentation. Uncle Nearest Premium Whiskey. In 2017, Weaver opened the Nearest Green Distillery and launched Uncle Nearest Premium Whiskey, making storytelling the foundation of her brand's success. Fawn Weaver, founder and CEO of Uncle Nearest Premium Whiskey.
☆ Sommelier who's tasted 15,000 wines: Never spend less than $30 on a bottle
  + stars: | 2023-02-14 | by ( Ryan Ermey | ) www.cnbc.com   time to read: +3 min
"That's all that's just living inside your wine." Osborn has tasted more than 15,000 bottles of wine and concedes that you occasionally get very good bottles for cheap and pay exorbitant prices for wine that ends up being disappointing. But that's unlikely to help you find a bottle of wine that actually tastes good. The label you should be focusing on is on the other side of the bottle, Osborn says. Keep an eye out for the same bottlesOne thing that's worth looking out for on the front-facing labels: familiar faces.
☆ Morning Bid: Winging it
  + stars: | 2023-02-13 | by ( ) www.reuters.com   time to read: +3 min
Ahead of the match, one statistic that blew this Englishman's mind was the sheer volume of chicken wings that were set to be consumed over Super Bowl weekend. In a report released earlier this month, the National Chicken Council said Americans were expected to chow down on 1.45 billion chicken wings, an increase of 2% from last year, or the equivalent of 84 million wings. Well, if you're looking for deflation, chicken wings are the place to find it. The report is expected to show consumer prices rose at an annual pace of 6.2% in January, down from 6.5% in December and well below June's four-decade peak of 9.1%. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
☆ Are we on the brink of a corporate credit crisis?
  + stars: | 2023-02-13 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +9 min
Economists at S&P Global Ratings forecast that speculative-grade (perceived to have a lower level of credit quality compared to more highly rated, investment-grade, companies) corporate default rates in the US and Europe will double this year alone. So are we on the brink of a corporate credit crisis? Before the Bell spoke with Ruth Yang, managing director and global head of thought leadership at S&P Global Ratings to discuss what lies ahead for the corporate credit market. Before the Bell: What’s your big picture view of the credit economy right now? There will be slower growth with thinner margins and that’s going to change how people look at their investment opportunities.
☆ DoorDash is headed to Super Bowl, pushing its on-demand grocery business again. Here are 7 key moves it is making to dominate retail delivery after conquering restaurants.
  + stars: | 2023-02-12 | by ( Nancy Luna | ) www.businessinsider.com   time to read: +13 min
In August 2020, DoorDash launched retail delivery with chains like 7-Eleven and Walgreens. Editor's note: On Sunday, DoorDash is airing its second Super Bowl commercial to promote its grocery delivery business. Lately, DoorDash has its sights set on a new prize — dominance in retail and grocery delivery. "We have more retail stores, grocery included, than any other platform in North America today." DoorDashDoubleDashA year after launching grocery delivery, DoorDash introduced DoubleDash.
☆ Cheers! Spirits like gin, vodka, overtake beer's U.S. market share
  + stars: | 2023-02-09 | by ( Jessica Dinapoli | Thomson Reuters | New York-Based Reporter Covering U.S. Consumer Products Spanning Paper Towels To Packaged Food | ) www.reuters.com   time to read: +2 min
Spirits like whiskey, cognac and tequila, a celebrity favorite, have surpassed beer's U.S. market share for the first time due to price hikes and high-end cocktail trends, according to the Distilled Spirits Council of the United States. U.S. sales for spirits totaled $37.58 billion last year, while beers like Anheuser-Busch inbev SA's (ABI.BR) Bud Lite tallied $37.46 billion, according to data compiled by the Distilled Spirits Council. Spirits' market share was 42.1%, while beer's was 41.9%, according to the data. Tequila and ready-to-drink canned cocktails including Constellation Brands Inc's (STZ.N) Fresca vodka spritz were among the fastest-growing types of spirits, the Distilled Spirits Council said. "The 'premiumization' trend, where people look at distilled spirits as an affordable luxury, is affirmed by these numbers," said Chris Swonger, CEO of the Distilled Spirits Council.
☆ Super Bowl ads lean on stars, humor to grab attention
  + stars: | 2023-02-09 | by ( Sheila Dang | ) www.reuters.com   time to read: +5 min
[1/3] Musician Ozzy Osbourne takes part in a Super Bowl ad for Workday, in this undated handout photo provided by Workday. Big-name celebrities are not uncommon in Super Bowl ads. A 30-second Super Bowl spot this year sold for a little over $7 million, according to a person familiar with the ad sales. “Advertisers want people talking about their brand, and not just during the 30 to 60 seconds of (Super Bowl) air time,” Rucker said. Some stars will poke fun at themselves or their careers in Super Bowl ads.
☆ Exclusive: The FBI's McGonigal labyrinth
  + stars: | 2023-02-08 | by ( Mattathias Schwartz | ) www.businessinsider.com   time to read: +28 min
She never saw McGonigal pay. "The notion that Mr. Deripaska is some proxy for the Russian state is a blatant lie," Ruben Bunyatyan, a spokesperson for Deripaska, told Insider by email. McGonigal was not charged with espionage, and although there is currently no evidence that McGonigal committed espionage, an FBI source told Insider that the investigation is ongoing. At the FBI, McGonigal racked up a string of big cases and promotions. "He said he needed to make more money," Guerriero told Insider.
☆ As fans roll in, Arizona hosts embrace super-sized Super Bowl stakes
  + stars: | 2023-02-04 | by ( Amy Tennery | ) www.reuters.com   time to read: +3 min
Feb 4 (Reuters) - A mega-watt spotlight falls on Arizona on Monday as a week-long celebration of the National Football League's title game will prove the ultimate test for the Super Bowl hosts. "Everything from liquor licenses to bus service is impacted by the Super Bowl, so we've been working since the day we earned the bid to be ready," Phoenix Mayor Kate Gallego told Reuters. "We weren't very well positioned to leverage the benefit of the Super Bowl in 2015," said Glendale City Manager Kevin Phelps. "We're (at) about $4 million of Glendale money to help make the Super Bowl come to reality. "From 2015 and Super Bowl 49, we had a very good blueprint of how we effectively hosted Super Bowl," said Jay Parry, the Arizona Super Bowl host committee president and CEO.
☆ A Wisconsin Supreme Court candidate and her husband want to open an indoor gun range to host weddings, 'high-end meetings' and 'easter egg hunts'
  + stars: | 2023-01-28 | by ( Sarah Al-Arshani | ) www.businessinsider.com   time to read: +3 min
Waukesha County Judge Jennifer Dorow is running for the state's Supreme Court in November. Dorow and her husband, Brian, have also applied to open an indoor gun range, Jezebel reported. The gun range would host weddings and holiday events and serve alcohol, city documents show. Dorow announced her candidacy for the Wisconsin Supreme Court in late November 2022. He also defended the proposal request for a liquor license in the same space as the gun range.
☆ James Dolan defends use of facial recognition technology to ban entry into Madison Square Garden and Radio City Music Hall
  + stars: | 2023-01-28 | by ( Aaron Mcdade | ) www.businessinsider.com   time to read: +4 min
MSG Entertainment is facing criticism for its use of facial recognition to enforce bans at its venues. Dolan doubled down on the tech in a recent interview and made a vague threat to stop selling alcohol at MSG. MSG's use of facial recognition technology to enforce bans has garnered increased scrutiny in recent months. "MSG Entertainment cannot fight their legal battles in their own arenas," Attorney General James wrote in her statement. "Madison Square Garden and Radio City Music Hall are world-renowned venues and should treat all patrons who purchased tickets with fairness and respect."
☆ Remy Cointreau's sales fall less than feared as China offsets U.S. decline
  + stars: | 2023-01-27 | by ( ) www.reuters.com   time to read: +1 min
Jan 27 (Reuters) - French spirits maker Remy Cointreau (RCOP.PA) posted a smaller-than-expected drop in third-quarter sales on Friday, as steep shipments to China ahead of the Lunar New Year partly offset lower cognac consumption in the United States. The maker of Remy Martin cognac and Cointreau liquor confirmed its full-year outlook for strong organic sales growth, albeit with further normalisation of consumption trends in the fourth quarter after two "outstanding years". Remy Cointreau reported a revenue of 437.6 million euros ($475.6 million) for the three months through December, an organic drop of 6% from a year earlier but slightly ahead of analysts' 433.3 million euro forecast. Sales at its Remy Martin cognac division fell 11% in the quarter, dragged by a U.S. slowdown even as the group's Chinese market continued to bounce back. "Despite disruptions triggered by unprecedented levels of Covid, the group successfully generated robust sales growth ahead of the Chinese New Year and in anticipation of a full recovery in business," it said.
☆ Exclusive: Inside the extramarital affair and cash-fueled double life of Charles McGonigal, the FBI spy-hunter indicted for allegedly taking Russian money
  + stars: | 2023-01-27 | by ( Mattathias Schwartz | ) www.businessinsider.com   time to read: +15 min
She had dated federal law enforcement officials before. "Charlie McGonigal knew everybody in the national security and law enforcement world," Guerriero said, in an exclusive interview with Insider. One law enforcement source estimated that McGonigal stood to make roughly $300,000 to $350,000 a year, including annual bonuses. Former New York City Mayor Rudy Giuliani, whom she knew from law enforcement circles, let her stay in a guest bedroom. During her relationship with McGonigal, Guerriero says, they never talked about politics.
☆ Buyers of mini cinnamon Fireball bottles thought they contained whisky - turns out they don't, lawsuit claims.
  + stars: | 2023-01-26 | by ( Bethany Biron | ) www.businessinsider.com   time to read: +3 min
A new lawsuit claims Sazerac is misleading consumers that its 99 cent "Fireball Cinnamon" product contains whisky. The product, which debuted in 2020, contains malt liquor flavored to taste like whisky. The suit claims the company created the "overall misleading impression" that it contains whisky. "It's not actual Fireball Cinnamon Whisky. It's a malt-beverage version called simply Fireball Cinnamon.
☆ Madison Square Garden CEO doubles down on use of facial recognition tech
  + stars: | 2023-01-26 | by ( Samantha Beech | ) edition.cnn.com   time to read: +4 min
CNN —The chief executive of the Madison Square Garden Entertainment Corporation has doubled down on using facial recognition at its venues to bar lawyers suing the group from attending events. “At Madison Square Garden, if you’re suing us, we’re just asking of you – please don’t come until you’re done with your argument with us,” he said. Madison Square Garden and Radio City Music Hall are world-renowned venues and should treat all patrons who purchased tickets with fairness and respect. Madison Square Garden is the home of the New York Knicks, Rangers, professional boxing, and college basketball teams. What facial recognition does is looks at, you know, recognizes your face, and says you know, are you someone who’s on this list.”Dolan claimed the State Liquor Authority has threatened MSG’s license over its use of facial recognition technology.
☆ Elon Musk says he dislikes how 'most alcohol' tastes and makes him feel, but is partial to 'red wine in a fine glass' or a Scotch on the rocks
  + stars: | 2023-01-23 | by ( Pete Syme | ) www.businessinsider.com   time to read: +2 min
Elon Musk tweeted on Sunday night that he doesn't like 'most alcohol,' but is partial to a red wine. "But there is something quite beautiful about red wine in a fine glass." Soon after the game, Musk tweeted a poll about stepping down as the head of Twitter. In 2017, Musk tweeted: "A little red wine, vintage record, some Ambien... and magic!" And a couple months later, he described drinking wine from a mason jar at a friend's party.
☆ A Canadian McDonald's that became a crime hotspot — and went viral after a brawl involving a raccoon — is closing
  + stars: | 2023-01-23 | by ( Grace Dean | ) www.businessinsider.com   time to read: +3 min
A McDonald's restaurant in Ottawa, known for its high levels of crime, is shutting down. In 2014, the location gained notoriety after footage of a mass brawl involving a raccoon went viral. The owner of the building on Rideau Street told CBC that the franchisee had decided not to renew their lease when it expires this summer. Local residents voiced similar concerns to CBC last week after news of the restaurant's closure was announced. Despite the complaints from local police and residents, Crosthwaite told CBC that McDonald's had been a "great tenant."
☆ 'Sober bars' selling fancy mocktails are booming — showing Dry January is more than just a trend as Americans increasingly adopt alcohol-free lifestyles
  + stars: | 2023-01-21 | by ( Aidan Pollard | ) www.businessinsider.com   time to read: +5 min
Sober bars are opening across the US, charging the same price for drinks as their boozy counterparts. But at sober bars across the country, alcohol-free cocktails are year-round staples and Dry January is more than just a trend. Getty ImagesEach sober bar puts its own spin on the idea of an alcohol-free cocktail, business owners told Insider. Marshall was a pioneer of the sober bar business, opening Sans Bar in 2017. Owners of sober bars told Insider they only see further growth in the industry, as trends like Dry January and sober-curious lifestyles take a stronger hold.
☆ 'Bourbon Caucus' formed by two bipartisan congressman to fight tariffs
  + stars: | 2023-01-20 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Bourbon Caucus' formed by two bipartisan congressman to fight tariffsCNBC's Ylan Mui joins 'The Exchange' to discuss the bipartisan bourbon caucus formed by two lawmakers in Kentucky, what makes bourbon a uniquely American liquor, and the work of the caucus thus far.
☆ Bud Light and Budweiser are getting a makeovers at this year’s Super Bowl
  + stars: | 2023-01-19 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +5 min
The latter, he said, “broke through” during the Super Bowl, but “needs time and commitment” to grow. In recent years, customers have been increasingly choosing premium or Mexican lagers, putting Bud Light out of favor with some beer drinkers. Garbe said the beer is the company’s “number 1 growth engine” and is soon set to overtake Bud Light in sales. Fox, which will broadcast Super Bowl LVII, is reportedly charging $7 million for a 30-second spot during the February 12 game in Glendale, Arizona. Liquor giant Diageo (DEO) is making its Super Bowl debut this year with an ad for Crown Royal whisky.
☆ In Africa, FTX Posed as Haven From Tumbling Currencies, Inflation
  + stars: | 2023-01-18 | by ( Alexandra Wexler | ) www.wsj.com   time to read: 1 min
Weeks before cryptocurrency exchange FTX filed for bankruptcy, dozens of young Nigerians in skintight dresses and brightly colored suits shimmied under limbo bars, posed for photos in front of the company’s logo and sipped expensive liquor at a swanky beachfront venue. The party in Lagos, Nigeria, was part of the Bahamas-based exchange’s push into Africa, where, in the final days before its implosion, FTX was aggressively recruiting new customers whose funds are now stuck in bankruptcy proceedings. U.S. prosecutors have charged FTX’s founder, Sam Bankman-Fried , with fraud for allegedly stealing billions of dollars of customer funds from FTX and of defrauding investors and lenders to his trading firm, Alameda Research. He has pleaded not guilty.
☆ China's pessimistic Gen Z poses challenge for Xi post-COVID
  + stars: | 2023-01-18 | by ( Casey Hall Josh Horwitz Yew Lun Tian | Casey Hall | Josh Horwitz | ) www.reuters.com   time to read: +9 min
Some Chinese youth who spoke to Reuters reflected the sense of frustration. But China's Gen Z has its own characteristics that present a dilemma for Xi, some analysts said. A survey of 4,000 Chinese by consultancy Oliver Wyman found Gen Z to be the most negative about China's economic outlook of all the age groups. FIXING THE YOUTHIn a New Year speech, Xi acknowledged the need to improve the prospects of China's youth, without mentioning the protests against his zero-COVID approach. Making housing more affordable could mean allowing a sector responsible for a quarter of China's economic activity in recent years to collapse.
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