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Boardroom shake-up at Wetherspoons

Published:  15 October, 2010

A boardroom shake-up at Wetherspoons saw two directors step down from the 784-strong managed pub chain yesterday.

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Greenall's invests £250,000 in production line

Published:  15 October, 2010

Gin and vodka maker Greenall's is investing £250,000 in the opening of a third production line at its Warrington headquarters.

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Currency update, October 15 - sterling rises against dollar

Published:  15 October, 2010

Sterling rose to the highest level in eight months against the US dollar yesterday.

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Dalmore Trinitas breaks six figure price barrier

Published:  14 October, 2010

The first bottle of whisky in the world to break the six figure price barrier is the 64 year old, Dalmore Trinitas.

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Small firms question the value of social media

Published:  14 October, 2010

More than half of Britain's small to medium-sized businesses use social media, a new survey has found.

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Currency update, October 14 - Sterling hits a five month low

Published:  14 October, 2010

Sterling hit a 5 month low against the euro on Wednesday as weak consumer confidence data and mixed employment data saw confidence in the pound drop.

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Pernod Ricard sells Renault Cognac

Published:  14 October, 2010

Pernod Ricard has sold the Renault Cognac brand to the Finnish drinks operation Altia for €10 million.

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Paul Henry quits Wine Australia

Published:  13 October, 2010

Paul Henry, one of the most public faces in the Australian wine business, has resigned from his role at the Australian Wine & Brandy Corporation.

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Tesco introduces resealable caps for sparkling wine

Published:  13 October, 2010
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Jacob's Creek to be official wine of Wimbledon

Published:  13 October, 2010

Australian brand Jacob's Creek is to be the official wine of Wimbledon.

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Skalli opens tourist centre in Châteauneuf-du-Pape

Published:  13 October, 2010

French wine producer, Skalli has opened a new tourist centre at its winery in the heart of Châteauneuf-du-Pape.

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Bordeaux's second wines in price surge

Published:  13 October, 2010

The second wines of First Growth chateaux in Bordeaux are experiencing a big increase in price, according to data from Liv-Ex.

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Currency update, October 13 - Bank of England comments cause sterling to fall

Published:  13 October, 2010

Sterling fell against both the euro and US dollar yesterday after downbeat comments from yet another member of the Bank of England's Monetary Policy Committee saw investors lose confidence in the UK economy.


Currency Rates
EURO/GBP - 1.135
US$/GBP - 1.586
CHF/GBP - 1.517
CAN$/GBP - 1.599
AUS$/GBP - 1.609
ZAR/GBP - 10.858
JPY/GBP - 129.89
HKD/GBP - 12.312
NZD/GBP - 2.096
US$/EURO - 1.397
HUF/GBP - 310.26

In a speech in Dublin, MPC member David Miles stated that Quantitative Easing ("QE") "remains a potentially powerful tool and one that we might come to use". Miles' comments echo those of colleague Adam Posen who advocated further monetary easing just a few weeks ago. Sterling dropped to within sight of the five month low it hit against the euro last week and slipped by 0.5% against the US dollar suggesting that it is incredibly sensitive to swings in sentiment over whether the Bank of England will put more money into the economy or not. On a more 'positive' note, inflation stayed at 3.1% which could dissuade the bank from further QE however the British Chamber of Commerce presented data that showed that economic activity had slowed sharply in the 3rd Quarter. Adam Posen speaks later today so expect further poor sentiment to damage sterling, so speak to one of the team today about the implications of this on your payment.

 

In the Euro zone, it was a fairly quiet day for data with the euro moving on UK and US sentiment. Against the US dollar, the euro slipped as markets await further clarification on the Federal Reserve's plans to pump more money into the US economy and traders scaled back on some riskier trades ahead of this evening's FOMC minutes (the US equivalent of the Monetary Policy Committee). Out later today, there is French inflation data and industrial production figures for the region. Call in now to ensure you maximise the value of your exchange by trading at the right time.

 

In the USA, stock markets fell across the board in anticipation of the FOMC minutes that were released late last night. With many expecting details of further monetary easing to be released, a large number of traders pulled back on 'extreme' short positions in case the news came in unexpectedly and the markets moved against them. This saw the US dollar strengthen across the board - somewhat bizarrely given that it was concern over the US economy that spurred the move. In terms of data, there is import price data and Fed Chairman Ben Bernanke speaks to Congress.

 

Elsewhere, Canada's federal budget deficit for the 2009-2010 fiscal year totalled C$55.6bn (3.6% of GDP) which signalled to many that the Canadian economy is running out of steam. Canada has seen a boost related to high demand for commodities related to the booming Chinese economy. Call in now for a live rate of exchange.

 

Smart Currency Exchange is a currency partner to Harpers Wine and Spirit. Harpers Wine and Spirit has teamed up with Smart to provide readers with a free bespoke currency service.

 

If you are making or receiving international payments and are interested in talking to Smart please go to: www.SmartWineSpirits.com to get a FREE no obligation quote or to download the Smart Wine and Spirit report. Alternatively call Smart on 0207 898 0500.

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Relaunch for Burn Stewart malts

Published:  12 October, 2010

Burn Stewart Distillers is to launch its entire malt whisky range in un-chillfiltered form.

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Sign up now for the Chile Summit 2010

Published:  12 October, 2010

Join Harpers Wine & Spirit for a jam-packed day of masterclasses, educational tasting zones and panel debates at the inaugural Chilean Summit 2010 in association with Wines of Chile.

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Jacob's Creek links up with Wimbledon

Published:  12 October, 2010

Jacob's Creek will be the official wine of Wimbledon from 2011 through to 2015.

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Sterling dips against the US dollar

Published:  12 October, 2010

Sterling dipped marginally lower yesterday against the US dollar as concerns over further monetary easing encouraged investors to sell sterling as it failed to hold above $1.60/£1.

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Drambuie's UK sales up 27%

Published:  11 October, 2010

Whisky liqueur Drambuie grew volumes by 27% in the UK last year, following a £1.7 million marketing campaign around its new bottle design.

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Diageo's Rökk rolls into the US

Published:  11 October, 2010

Diageo has launched a Swedish rival to Pernod Ricard's Absolut vodka in the US market.

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National TV campaign for Wolf Blass

Published:  11 October, 2010

Australian wine brand Wolf Blass has launched a national TV advertising campaign.

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