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On the other hand, the distillers fared better at home. In 2017, American whiskey rang up a 6.6 percent increase in revenues from a year earlier to $3.6 billion, the group’s data showed. In the wake of the EU’s imposing 25 percent tariffs last June, U.S. whiskey exports fell 8.7 percent in the following five months, compared with the same period in 2017. Canada’s 10 percent duties that took effect on July 1 resulted in an 8.3 percent sales decline in that country for American whiskey producers in the July-November period compared with the same period a year earlier, the group said.

LONDON (Reuters) - Pernod Ricard will embrace change and continue “constructive” talks with activist investor Elliott Management, CEO Alexandre Ricard said on Tuesday while dismissing speculation that the company could become a takeover target, The world’s swarovski crystal cone cufflinks sapphire second-biggest spirits group behind Diageo is under pressure from New York hedge fund Elliott Management to improve profit margins and corporate governance, Last week Pernod vowed to lift its margins and shareholder returns in a three-year strategic plan that Elliott described as a first small step..

Chief Executive Ricard, the grandson of the French drinks group’s founder, said he welcomed Elliott’s perspective. “We met in January. We will continue to have an open dialogue with Elliott in the coming weeks or months, as we do with other shareholders,” he told Reuters. A spokeswoman for the fund declined to comment on Tuesday. Ricard said talks with Elliott centred around governance and margin improvement, adding that Pernod is a consolidator rather than a takeover target.

“I hope swarovski crystal cone cufflinks sapphire there will be no surprise if I reiterate very clearly and specifically — Pernod Ricard is here, Pernod Ricard is here to stay and Pernod Ricard is and will remain a consolidator.”, Elliott’s arrival has raised speculation of potential dealmaking, A source close to the matter told Reuters in December that Elliott had suggested options such as merging with another spirits company, Ricard declined to comment on the likelihood that Elliott would seek a seat on the board of the maker of Absolut vodka and Martell cognac..

Pernod shares closed down 1.3 percent. Pernod’s 46-year-old CEO, who once worked as an M&A consultant at U.S. bank Morgan Stanley and appeared bare-chested at his desk in an internal promotional video last year, acknowledged that change is necessary for success. “The mandate I think I’ve been given is quite clear. It’s to consistently and ruthlessly pursue value creation over time,” Ricard said. “If you want a company to succeed and stay over time, that company needs to transform itself permanently. Consumers change over time, the environment changes, the dynamic changes — if you don’t keep transforming yourself, it’s not going to happen.”.

He declined to say whether having Elliott as a shareholder helped him to push the message on the need for change within the company, or what governance initiatives might be in swarovski crystal cone cufflinks sapphire the pipeline, When asked about double voting rights for longtime shareholders - which are often granted by French companies after two years - Ricard said there were no plans to change the company’s practice of affording them only after 10 years, One source had told Reuters the company’s current policy limited the influence of outsiders, However, Ricard said the rights were open to all qualifying shareholders, not just those close to the Ricard family..

WASHINGTON (Reuters) - A group of eight Democratic U.S. senators and independent Senator Bernie Sanders urged the Justice Department and Federal Communications Commission on Tuesday to reject a proposed $26 billion merger of T-Mobile US Inc and Sprint Corp. The merger is “likely to raise prices for consumers, harm workers, stifle competition, exacerbate the digital divide, and undermine innovation,” they wrote in separate letters to FCC Chairman Ajit Pai and Makan Delrahim, the Justice Department’s top antitrust official.

The signatories included potential or confirmed presidential candidates Sanders, Amy Klobuchar, Sherrod Brown, Kirsten Gillibrand, Elizabeth Warren and Cory Booker, Also signing the letters were Senators Richard Blumenthal and Tom Udall, The companies did not immediately comment, A U.S, House panel is set to hold a hearing on the merger on Wednesday, The senators noted the four largest wireless carriers including AT&T Inc and Verizon Communications Inc control 98 percent of the market, “Antitrust swarovski crystal cone cufflinks sapphire regulators around the world have consistently blocked four-to-three mergers in the mobile and telecommunications industry, and those who have allowed such mergers have lived to regret it,” they wrote..

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