Diageo has cut the pay of its two top executives after the drinks group missed performance targets, joining other UK companies in reining in management awards amid political and investor calls for restraint.

Drinks giant Diageo has reported that net sales in Ireland were flat during its last financial year, but has increased medium-term group profit targets and announced a £1.5bn (€1.7bn) share buyback programme, writes Geoff Percival,

Drinks giant Diageo has reported that net sales in Ireland were flat during its last financial year, but has increased medium-term group profit targets and announced a £1.5bn (€1.7bn) share buyback programme.

Bottles seized in the pub owned by former hurler of the year Lar Corbett were found to contain “counterfeit vodka”, a court has been told.

Guinness-owner Diageo is selling the majority of its wine business to one of the world's biggest publicly-listed winemakers, Australia's Treasury Wine Estates (TWE) for $552m.

Shares in Diageo — owner of Guinness and Smirnoff vodka — fell yesterday after it said the Securities and Exchange Commission is looking into its distribution practices in the US, adding to its woes as frustrated investors question the performance of the distiller’s chief executive officer.

Coca-Cola has held on to its position as the biggest selling brand in the Irish grocery market for 10 years, according to the latest Checkout Top 100 Brands report, produced by Checkout magazine in association with Nielsen.

Both Diageo and Remy Cointreau reported sales that missed estimates, casting doubt over the outlook for distillers as growth slows in emerging regions.

Global sales of Guinness fell by 1% during the second half of 2013, mainly due to declining beer markets in its traditional core regions of Ireland and Nigeria.

The maker of Smirnoff and Guinness warned conditions in emerging markets were “more challenging” following slower growth in its Christmas quarter.

A UK nightclub owner has been caught selling industrial alcohol often used in antifreeze.

Coke is still it, at least as far as Irish consumers are concerned as a new list of the best-selling brands in the country shows Coca Cola is the most popular.

Incoming Diageo CEO Ivan Menezes, the latest Indian-born businessman to head a global multinational, is likely to continue the strategy of his predecessor by focusing on growth in emerging markets, writes John Daly

Long-serving Diageo chief executive Paul Walsh is calling time on 13 years in charge of the drinks giant.

Guinness and Smirnoff drinks giant Diageo said like-for-like global sales were 4% higher in the quarter to March 31, with volumes down 1%.

Smirnoff owner Diageo is reportedly eyeing a slice of US-based whisky producer Beam.

The owner of Guinness is targeting a thirst for spirits among the Indian middle classes by taking a stake in Asian drinks giant United Spirit.

Guinness-to-Smirnoff owner Diageo today warned that ongoing weakness in South Korea was weighing on one of its key growth markets.

Diageo is in talks to acquire a stake in Indian billionaire Vijay Mallya’s United Spirits Ltd, reviving an on-again, off-again courtship that would ramp up its presence in the world’s largest whiskey market.

The growing thirst of emerging markets for whiskey, gin and vodka cheered Guinness and Baileys firm Diageo today as its western markets continued to suffer a debt hangover.

Guinness brewer Diageo is leading the race into emerging markets as it serves drinkers from Moscow to Mumbai.

The ECB has left its main interest rate unchanged at 1%.

In news sure to send shockwaves through Cork, US beer Coors has overtaken local stouts Beamish and Murphys in terms of popularity.

The maker of Guinness, Smithwick’s, Bushmills, and Bailey’s said its annual growth in Africa is set to accelerate beyond the current 15%, helped by its zero-duty Senator keg beer in Kenya and a strong rise sales of Johnnie Walker and Smirnoff.

A change in Dutch tax rates has resulted in Guinness owner — Diageo — writing off €624 million in deferred tax assets.

Drinks giant Diageo has said sales in the UK are falling behind the rest of Europe.

TEENS abusing alcohol are more likely to buy leading brands such as Budweiser and Smirnoff rather than the cheapest or strongest drinks, according to research.

The London market fell nearly 1.5% today after hopes faded that the US would announce more quantitative easing to inject fresh life into its economy.

Drinks giant Diageo hailed its performance in emerging markets today after profits rose despite sales of Guinness falling again in Europe.

Barely had the presidential plane taken off and Diageo warned of job losses at the old Guinness heartland in St James’s Gate, leaving a bitter taste for some and a challenge for Diageo Ireland MD John Kennedy, writes Kyran Fitzgerald

THE continuing contraction of the pub trade sector of the Irish drinks market led to an 8% year-on-year decline in net sales — and an 8.6% volume decline — for Guinness here in the last six months of 2010.

Drinks giant Diageo reported stronger half-year profits today despite a 6% fall in the volume of Guinness sold in Europe over the period.

The UK arm of Smirnoff producer Diageo today said it had settled a two-year dispute with a rival firm over the name of a "confusing" vodka-based drink.

A PINT of plain is still your only man as Guinness has cemented its status as the most popular drink in Irish pubs.

Guinness manufacturer Diageo is considering backing a ban on selling alcohol below the cost of duty and VAT – but denied any link between price and problem drinking, it was reported today.

The London market made tentative gains today after European leaders said they stood “shoulder to shoulder” with debt-laden Greece but failed to outline a rescue plan.

Guinness owner Diageo is reporting falling sales of its drink brands in Ireland, including Smirnoff and Baileys, as the pub trade suffers in the recession.

Coca-Cola is the biggest selling brand in Irish shopping baskets, it emerged today.

COCA-COLA is still the top selling brand in Ireland despite shoppers becoming more health conscious.

DIAGEO said trading was “particularly difficult” in Ireland over the last year as sales of Guinness remained flat.

Blue chip stocks were dragged lower on the London Stock Exchange today amid a raft of disappointing updates and as the mammoth US rescue plan did little to budge economic fears.

Drinks giant Diageo today toasted a return to growth for Guinness in Ireland and the UK.

Drinks giant Diageo has ditched its interest in iconic Swedish vodka brand Absolut after today agreeing a deal for a 50% stake in Dutch vodka Ketel One.

Drinks giant Diageo’s leading spirits brands today helped the Guinness maker to a strong profits performance.