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☆ There's 'no way in hell' Trump's bombastic approach to his potential indictment would help him in court: defense attorney
▼ + stars: | 2023-03-23 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +4 min

There's "no way" Trump's reaction to his possible indictment will help him, defense attorneys said. As a potential indictment looms, Trump has lashed out on social media, calling for protests. But there's no way that Trump's bombastic approach to his possible indictment over allegations of a hush-money payment to adult film star Stormy Daniels would help him in a courtroom, criminal defense attorneys not connected to the case told Insider. Bederow, a former prosecutor for the Manhattan district attorney's office, called Trump's recent behavior toward his potential indictment "a terrible look" that demonstrates "instability" and "poor judgment." "There's no way Trump begging to be perp-walked and handcuffed and demanding that his supporters protest is helping" a potential criminal case, Bederow said.

☆ Donald Trump is privately musing about a potential perp walk in New York and asking aides if he should smile for the camera: report
▼ + stars: | 2023-03-22 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +4 min

Trump said privately at Mar-a-Lago that he looks forward to doing a perp walk, per The New York Times. However, it is unlikely that he will be handcuffed or have to do a perp walk. However, a perp walk is not likely to happen if Trump is charged with a crime. Bill Pickle, a former Secret Service special agent, told Insider's Laura Italiano that the perp walk Trump is looking forward to won't happen. The Times reported that he was spotted rolling around on his golf cart and that he also DJ-ed at a party held at his Florida residence.

☆ Crisis communicators say Trump should smile for his perp walk. He may even want to stage his own.
▼ + stars: | 2023-03-22 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +4 min

Trump is reportedly wondering if he should smile for his perp walk and whether he can be handcuffed. Crisis communicators say "yes" to the smile and "no" to cuffs if he is indicted in New York. If prosecutors decide to march him in front of news cameras for a "perp walk," should he smile? But it's unlikely that the Manhattan district attorney's office will arrange a perp walk for Trump if he's indicted and turns himself in. In that case, Marcucci said he could see Trump organizing a perp walk on his own.

☆ Here's how a Trump indictment would play out: Yes, he'll be fingerprinted. No, he probably won't be handcuffed.
▼ + stars: | 2023-03-15 | by ( Laura Italiano | ) www.businessinsider.com time to read: +12 min

Here are predictions for how this historic event would roll out, courtesy of some of Manhattan's top defense lawyers, former high-ranking prosecutors, and a retired Secret Service special agent. "They can tell the foreperson come back two weeks from Wednesday, or something," to sign the revised indictment, Florence said. There can always be a leak, of course, somewhere between indictment and arraignment, which is the court proceeding where Trump would plead not guilty. But even if Trump does need to surrender in person, Secret Service would likely give the perp walk a hard pass. "That walk is not going to happen," said Pickle, the former Secret Service special agent.

☆ Brown-Forman misses quarterly profit estimates as costs weigh
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +1 min

March 8 (Reuters) - Brown-Forman Corp (BFb.N) missed Wall Street expectations for third-quarter profit on Wednesday, as the Jack Daniel's whiskey maker struggled to keep a tight lid on costs. Spirit makers such as Brown-Forman have had to raise prices to shield their margins from soaring transportation and input costs. The company's selling, general and administrative expenses rose 14% to $186 million in the quarter. On an adjusted basis, the company earned 25 cents per share, missing analysts' average estimate of 47 cents, according to Refinitiv data. The Louisville, Kentucky-based company's quarterly revenue rose 4.2% to $1.08 billion, edging past analysts' expectations of $1.01 billion.

☆ Pernod Ricard eyes more price hikes in second half, confident on China
▼ + stars: | 2023-02-16 | by ( Dominique Vidalon | ) www.reuters.com time to read: +2 min

The world's second largest spirits group after Diageo (DGE.L) reported forecast-beating first-half profit and sales, helped by price hikes of around 10%. During the COVID pandemic Pernod Ricard and its rivals benefited from people drinking more expensive types of alcohol at home. There have been, however, growing signs the spirits industry growth was stabilising, notably in the United States, as positive effects from the pandemic fizzle out. The strong first-half reflected a 5% rise in the United States, Pernod's top market, with growth driven by strong price hikes across its portfolio. In China, first-half sales grew 4%, reflecting a strong first quarter with solid demand for Martell cognac during the Mid-Autumn festival but a soft second quarter due to COVID-19 restrictions.

☆ NYPD police officer filed a complaint alleging sergeant tugged her ponytail to prove a point – causing 'substantial' neck pain
▼ + stars: | 2023-01-15 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

Nakia Middleton-House in January, NY Post reports. SBA president says Middleton-House was "doing her job," according to NY Post. Nakia Middleton-House tugged her ponytail causing "substantial" pain in her neck, according to a complaint obtained by The New York Post. Vallelong told the NY Post that the "false report" was filed after Meisner was disciplined for not properly requesting time off. Vallelong added that in a video depicting the alleged incident "the officer did not stumble and the sergeant did not jerk her back," he told NY Post.

Pernod Ricard India said it strongly denies the allegations of the directorate, adding that it "will continue to fully cooperate with the Indian authorities in this matter." Benoy Babu, head for international brands for Pernod India, was arrested in November and remains in jail over the case. He faces allegations of money laundering under Indian laws and violating Delhi's liquor policy rules, but has denied wrongdoing. Under the 2021 Delhi liquor policy, hundreds of store licences were awarded to private players as the city government exited the retail business in a move to liberalise trade and boost local government revenue. One Enforcement Directorate document dated Nov. 10 says: "The main motive of Pernod Ricard in cartel creation was to ensure that the retail shops of the cartel partners purchased higher quantity of Pernod Ricard brands ... in lieu of the financial assistance provided."

☆ George Santos took campaign donation from an Italian who was caught smuggling undocumented migrants into the US
▼ + stars: | 2023-01-12 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

George Santos accepted a campaign contribution from an Italian people smuggler, per The Daily Beast. Rocco Oppedisano was caught trying to smuggle 14 undocumented migrants into the US in 2019. Oppedisano's family runs a restaurant to which Santos' campaign has made some unusual payments. The donation also raised the spotlight on other questionable financial conduct related to Santos, Oppedisano, and Oppedisano's family members. Rocco Oppedisano's brother Joseph, and niece Tina, run an Italian restaurant in Little Neck, New York, The Beast reported.

☆ Pernod Ricard confident about Europe, Mid-East, Africa and Latam business
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +1 min

PARIS, Nov 22 (Reuters) - French spirits group Pernod Ricard (PERP.PA) is confident that its business in Europe, the Middle East, Africa and Latin America (EMEA/LATAM) will continue to deliver above market sales growth while protecting its margins in the 2023 fiscal year, EMEA-LATAM CEO Gilles Bogaert said on Tuesday. Bogaert was speaking in a video clip ahead of an investor presentation later in the day. A key focus for the region, which accounts for about 30% of group sales, entailed growing revenue to protect margins, continuing to increase prices, "agile" resource allocation and further digital transformation, he said. Last month, Pernod Ricard, the world's second-biggest spirits group behind Diageo (DGE.L), said it was confident group sales growth would remain dynamic through the fiscal year to June 30 after it delivered forecast-beating sales in the first quarter helped by price increases as consumers trade up to its premium spirits. Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ FTX flop evokes history’s great financial swindles
▼ + stars: | 2022-11-18 | by ( Edward Chancellor | ) www.reuters.com time to read: +7 min

As Walter Bagehot wrote in “Lombard Street” in 1873, “The good times too of high price almost always engender much fraud. As cryptocurrencies declined in value, FTX provided a line of credit to BlockFi, a stricken crypto-lender. He talked about Three Arrows Capital, the failed crypto hedge fund, as engaged in “punting”. His firm launched a product based on a basket of crypto assets that it called Shitcoin Index Perpetual Futures, with the unsubtle ticker SHIT-PERP. He commissioned an advertisement, aired during the Super Bowl, in which the comedian Larry David casts doubt on the viability of FTX.

☆ Macy's raises annual profit forecast on firm luxury demand
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

Nov 17 (Reuters) - Upscale department store chain Macy's Inc (M.N) raised its annual profit forecast on Thursday on resilient demand for high-end suits, gowns and beauty products as wealthier shoppers were undeterred by inflation. Like other retailers, Macy's has introduced more discounts to clear excess stock of casual and athleisure apparel, while luxury goods sales has held up relatively well. The department store chain said it expects fiscal 2022 adjusted profit of $4.07 to $4.27 per share compared with its previous forecast of $4 to $4.20. Net sales at the department store chain fell to $5.23 billion in the third quarter ended Oct, 29 compared with $5.44 billion a year earlier. Reporting by Deborah Sophia and Uday Sampath in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ 'Spirited' review: Will Ferrell and Ryan Reynolds try their hands (and feet) at musical comedy in 'A Christmas Carol' spoof
▼ + stars: | 2022-11-17 | by ( Review Brian Lowry | ) edition.cnn.com time to read: +3 min

CNN —For those wondering who would build a giant holiday musical-comedy around Will Ferrell and Ryan Reynolds, the “produced by Will Ferrell” credit provides a helpful clue. “Spirited” tries turning “A Christmas Carol” on its head, and while it’s big and boisterous, the movie (hitting theaters before Apple TV+) isn’t consistently irreverent enough to feel like much more than a streaming stocking stuffer. Of course, playing with Charles Dickens’ oft-told tale brings a lot of shorthand to the proceedings, with Ferrell as the Ghost of Christmas Present, who stumbles upon Reynolds’ fast-talking Clint Briggs, a media consultant introduced trying to commoditize Christmas. Present identifies him as a candidate to become their next “perp,” offered a Scrooge-like shot at redemption. “Spirited” premieres November 11 in select US theaters and November 18 on Apple TV+.

☆ Indian court sends Pernod Ricard exec, Aurobindo director to agency custody
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +2 min

The court's decision came hours after P. Sarath Chandra Reddy of Aurobindo Pharma and Pernod Ricard's Benoy Babu were arrested by the Enforcement Directorate (ED), the country's federal financial crime-fighting agency. The ED last month raided several liquor companies, suppliers and distributors in a money-laundering investigation, according to media reports. Babu is a general manager at Pernod Ricard and handles the French company's international brands business in India, according to his LinkedIn profile. Spokespersons for Pernod Ricard and Aurobindo did not immediately respond to Reuters' requests for comment. Shares in Aurobindo, which makes a range of medicines from antibacterials to antidepressants, fell by 11.75% by close of day.

☆ European shares gain ground on boost from travel stocks
▼ + stars: | 2022-11-07 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

REUTERS/StaffSummarySummary Companies Flutter, Ryanair lead travel stocks higherTravel & leisure index hits near 3-month highsChina-exposed luxury companies declineIrish stocks rallyNov 7 (Reuters) - European shares rose on Monday, reversing declines from the opening bell, as a jump in travel stocks helped outweigh a drag from China-exposed luxury giants. The benchmark STOXX 600 index (.STOXX) added 0.6% by 0929 GMT, extending gains after its fourth straight weekly rise. Flutter Entertainment Plc rose 4.5%, boosting European travel & leisure stocks (.SXTP) by 2.3% and helping it touch a near three-month high. European luxury stocks, including LVMH (LVMH.PA), Pernod Ricard (PERP.PA) and Hermes International (HRMS.PA), dipped between 0.1% and 0.4%. Dutch fertiliser maker OCI (OCI.AS) fell 3.7% to the bottom of the STOXX 600 after J.P. Morgan cut its rating on the stock on softer quarterly outlook.

☆ European shares rise as China reopening hopes lift luxury, mining stocks
▼ + stars: | 2022-11-04 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

The STOXX 600 (.STOXX) rose 1.1% by 0932 GMT. The European basic resources index (.SXPP) surged 4.6% to a seven-week high and was set for its biggest weekly gain in more than three months. Luxury giants including LVMH (LVMH.PA), Kering (PRTP.PA), Pernod Ricard (PERP.PA) and Hermes International (HRMS.PA) climbed between 2.5% and 3.5%. Among other stocks, manufacturer Andritz (ANDR.VI) surged 9.2% to the top of the STOXX 600, as its quarterly sales and profit rose significantly. Reporting by Shreyashi Sanyal in Bengaluru; Editing by Subhranshu Sahu and Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

☆ European shares jump as luxury stocks, miners rally amid Fed pivot hopes
▼ + stars: | 2022-11-01 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

SummarySummary Companies Luxury stocks lift euro zone blue-chipsMining, energy stocks rise on higher commodity pricesFed's two-day meeting to start later in the dayMonte dei Paschi up as cash call 93% coveredNov 1 (Reuters) - European shares jumped on Tuesday, boosted by miners and luxury stocks, amid rising hopes that the U.S. Federal Reserve would slow down the pace of its interest rate hikes next month. The pan-European STOXX 600 index (.STOXX) rose 1.2% by 0905 GMT, kicking off November on a solid footing and hovering at their highest in more than six weeks. The EURO STOXX 50 index (.STOXX50E) gained 1.2% after luxury giants including LVMH (LVMH.PA), Kering (PRTP.PA), Hermes International (HRMS.PA) and Pernod Ricard (PERP.PA) jumped between 2.2% and 3.9%. Miners in Europe (.SXPP) leapt 3.0% while oil & gas stocks (.SXEP) added 1%, as prices of oil and industrial metals rose against declines in the dollar. ECB President Christine Lagarde said the central bank must keep raising interest rates to fight off inflation even if the probability of a euro zone recession has increased.

A couple walk with Hermes shopping bags as they leave an Hermes store in Paris March 21, 2013. Hermes (HRMS.PA) and Pernod Ricard (PERP.PA) both said they will continue to raise prices, after beating expectations in the July-September quarter. Mainland China also saw a strong rebound after COVID-19 restrictions were lifted, although some restrictions have since been reimposed. PRICE RISESThe world's biggest luxury group LVMH (LVMH.PA) last week kicked off the earnings season with forecast-beating sales -- and no signs of a let-up in demand. The results from Pernod and Hermes bode well for beauty giant L'Oreal (OREP.PA) and Gucci-owner Kering (PRTP.PA), which both report results later on Thursday.

☆ Pernod Ricard confident over FY as Q1 sales beat expectations
▼ + stars: | 2022-10-20 | by ( Dominique Vidalon | ) www.reuters.com time to read: +2 min

REUTERS/Denis Balibouse/File PhotoPARIS, Oct 20 (Reuters) - French spirits maker Pernod Ricard (PERP.PA) said on Thursday it was confident sales growth would remain dynamic through its 2023 fiscal year after it delivered a forecast-beating 11% sales growth in the first quarter helped by price increases in the United States, its top market. Pernod, the world's second-biggest spirits group behind Diageo (DGE.L), said the strong start to the year also reflected strong demand in China and in India and a continued rebound in global travel retail. "I am hugely encouraged by our start to the year," Chairman and CEO Alexandre Ricard said in a statement. In China alone, sales rose 9% in the first quarter thanks strong mid-Autumn festival sales. The Martell cognac brand recorded double-digit sales growth during the quarter in China despite COVID restrictions.

The customs authority says Pernod did so to evade full payment of import taxes. Pernod has been "a habitual litigant and always attempts to abuse the due process of law," the filing added, referring to some previous tax demands Pernod challenged in India. It declined further comment due to ongoing litigation and because the filing by the customs authority wasn't public. To compensate for the undervalued imports, Pernod paid "hefty" dividends to the group's holding company, Pernod Ricard in France, which also owns Chivas Brothers, the investigation found. Last week, Pernod said its India CEO, Thibault Cuny, had stepped down due to health reasons.

☆ Pernod Ricard India CEO Cuny steps down due to health reasons
▼ + stars: | 2022-10-14 | by ( Aditya Kalra | ) www.reuters.com time to read: +2 min

Cuny, who has been dealing with health concerns for some years, will take a break from his professional duties on medical advice, but will stay on with Pernod, the company said in its statement to Reuters. Cuny took over as the managing director and CEO of Pernod Ricard South Asia in 2019 after serving as Pernod Ricard Brazil as president and CEO. The company, which is embroiled in various tax and legal battles, is the second biggest spirits player in India where it competes with the likes of Diageo (DGE.L). Reuters reported last week Indian tax authorities, following an investigation, have demanded $244 million from Pernod India for undervaluing certain liquor imports for over a decade to avoid full payment of federal duties. In the interim, Philippe Guettat, Chairman and CEO of Pernod Ricard Asia, will take charge of Pernod Ricard South Asia, including India, the company said.

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