Ontario Premier Doug Ford has announced plans to banish Crown Royal whisky from the province, citing a dispute with Diageo over the company's plans to move production to the US and the loss of local jobs. Ford has urged residents to stock up before the ban takes effect and has threatened to target other Diageo brands, emphasizing his stance on economic nationalism and protecting Ontario's interests.
Diageo has appointed former Tesco CEO Sir Dave Lewis as its new chief executive to address declining sales and market challenges, aiming to stabilize and grow the company's global brands amid changing consumer behaviors and economic pressures.
The CEO of Diageo, Debra Crew, has unexpectedly resigned without a successor in place amid ongoing sales challenges despite strong Guinness demand, prompting the CFO to step in temporarily as the company searches for a new leader.
Sean "Diddy" Combs faced setbacks in his business ventures, including the failure of a major cannabis deal and the underperformance of his latest album. Amidst this, he filed a lawsuit against Diageo, alleging racism and neglect in their partnership for the DeLeón tequila brand. Combs sought billions in damages, positioning the lawsuit as a crusade for fair treatment of Black people by big corporations.
Sean "Diddy" Combs faced setbacks in his business ventures, including a failed cannabis deal and underperforming album, while also suing Diageo for alleged racism in neglecting their joint tequila venture. Despite his struggles, Combs remains determined to hold corporations accountable for fair treatment of Black entrepreneurs.
Sean "Diddy" Combs and Diageo have settled their dispute, with Combs withdrawing his accusations of racial discrimination and voluntarily dismissing his lawsuits against the spirits giant. The lawsuit, filed last year, alleged that Diageo neglected the vodka and tequila brands he promoted or co-owned and marketed them as "urban" brands. The settlement marks the end of a partnership that began in 2007 to promote Cîroc vodka and jointly purchase DeLeón tequila in 2013.
Sean Combs has settled with Diageo, ending his joint ownership of DeLeón tequila and ties to Cîroc vodka, following ongoing sexual assault lawsuits and accusations of racism. The settlement comes after Combs sued Diageo for labeling the brands as "Black brands" and facing sexual assault allegations from multiple accusers. Both parties have agreed to resolve all disputes, with Combs withdrawing his allegations and voluntarily dismissing his lawsuits against Diageo, and will no longer have any ongoing business relationship with the spirits giant.
Sean 'Diddy' Combs has withdrawn all allegations in his lawsuit against Diageo, ending their business relationship and resolving all disputes. The rapper had previously accused the spirits giant of neglecting his brands, DeLeón Tequila and Ciroc Vodka, due to race, but has now dismissed the lawsuit, suggesting a settlement has been reached. This comes as Diddy faces other legal challenges, including settling with his ex, Cassie, over allegations of sexual and physical abuse, and facing lawsuits from three other women for similar claims.
Sean "Diddy" Combs has withdrawn his lawsuit against Diageo as part of a settlement, with the spirits giant now the sole owner of Ciroc vodka and DeLeon tequila. The lawsuit, filed last May, accused Diageo of neglect and racism, but the details of the settlement remain undisclosed. Diageo denied the allegations, and Combs' reputation suffered after being sued by R&B singer Cassie for alleged abuse, a lawsuit that was settled a few days after it was filed.
Sean "Diddy" Combs has reached a settlement with Diageo, withdrawing his lawsuit against the spirits giant. As part of the agreement, Diageo is now the sole owner of Ciroc vodka and DeLeon tequila, brands previously promoted by Combs. The lawsuit, filed last May, alleged that Diageo failed to make promised investments and treated the products as inferior "urban" items. Combs, who also accused Diageo of racism, saw his reputation suffer as a result of the legal dispute.
Sean "Diddy" Combs and Diageo have settled their legal dispute, with Combs withdrawing his allegations and voluntarily dismissing his lawsuits against Diageo. The dispute stemmed from Combs' claims that Diageo had not supported marketing agreements involving Ciroc vodka and DeLeón tequila. The resolution severs their business ties, and Diageo now solely owns DeLeón tequila. Combs is also facing lawsuits related to sexual assault charges, and his temporary resignation as chairman of Revolt and the cancellation of his Hulu reality show.
India's growing love for homegrown single malts is shaking up the $33 billion spirits market, with local brands like Indri, Amrut, and Rampur gaining popularity and competing with established global brands like Glenlivet and Talisker. Factors such as global awards, increased affluence, and the COVID-19 pandemic have contributed to the boom in India's whisky landscape. In response, Pernod Ricard and Diageo have launched their own Indian single malts, recognizing the potential of the Indian whisky market. Indian single malts have seen a significant surge in growth, outpacing Scotch, and are predicted to continue growing in consumption.
Diageo, the multinational alcoholic beverages company, has warned of a potential hit to its profits due to a slowdown in Latin America and the Caribbean. The company cited challenges in key markets such as Brazil and Mexico, where economic and political uncertainties have impacted consumer spending. Diageo's sales in the region have been affected by reduced demand for its products, particularly in the on-trade sector.
Synaptics Inc. stock surged after beating revenue and earnings estimates, while Lions Gate Entertainment Corp. reported a surprise profit despite the impact of the Hollywood strike. Dentsply Sirona Inc. announced a $1 billion stock buyback, but Plug Power Inc. shares plunged due to supply challenges. Trade Desk Inc. saw a drop in stock price after disappointing guidance, and Diageo expects a 20% sales decline in Latin America and the Caribbean. Illumina Inc. cut its sales and profit outlook, Hawaiian Electric Industries Inc. fell due to uncertainty from wildfires, and Neurocrine Biosciences Inc. dropped after two failed drug studies.
Diageo, the global leader in beverage alcohol, has announced the appointment of Sally Grimes as Chief Executive Officer, North America, and Claudia Schubert as President & Chief Operating Officer, North America. With North America being Diageo's largest market, the company aims to invest in its brands, portfolio, and talent to further drive growth. Sally Grimes brings extensive experience in the food and beverage sector, while Claudia Schubert has a proven track record in strategic performance and operations. These appointments strengthen Diageo's executive team and position the company for success in North America.
