British multinational drinks group; owner of Guinness, Johnnie Walker, Smirnoff
The UK construction PMI has improved in July, rising to 44.7 from 38.4, signalling a stabilisation after a sharp downturn in Q2 2026. Housebuilding declines eased to the slowest pace since October 2025, while civil engineering remains the weakest area. New orders fell at the slowest rate since September 2025. Employment fell for the 19th straight month but at the slowest pace since February.
Diageo has announced a multi-pronged turnaround plan led by Dave Lewis, including capital investment to boost Guinness production, expansion of RTD brands, and aggressive cost cuts. The group expects significant restructuring costs and thousands of job losses as it shifts to a more agile operating model and aims to return to profit growth in the coming years.
Harvey Nichols has been put up for sale and is undergoing a turnaround led by Frasers Group. The six-storefront estate, including Edinburgh’s flagship, will continue operating while a broader restructuring is pursued, with potential integration of Flannels and the wider Frasers luxury ecosystem.
The Guardian reports that UK leaders are confronting a persistent Neet crisis as youth unemployment remains high. A UK delegation visits Ireland to study its rapid decline in Neet rates, while Labour pledges reforms to boost technical education and apprenticeships. The piece highlights austerity-era cuts and calls for preventive investment.
Ralph Lauren has delivered better-than-expected earnings and revenue, pushing shares higher. CEO Patrice Louvet has steered the brand toward growth through brand elevation, new product lines, and a focus on full-price selling in key markets.
Au Vodka, the Swansea-based RTD vodka brand known for its gold bottles, is nearing a sale to Sazerac. Founders Charlie Morgan and Jackson Quinn are expected to net over £100m each. The deal, first reported by Sky News, would deepen Sazerac’s UK footprint and follows Au Vodka’s rapid growth and US expansion.
U.S. stock futures point to gains as Nvidia beats estimates and forecasts strong AI-driven growth; European markets rally on momentum from Nvidia while UK indices turn modestly higher ahead of major earnings and data surprises.
Two HGV trailers containing about 70,000 pints of Guinness have been stolen from a Runcorn industrial estate. Police have released CCTV footage of two men believed to hold vital information. Trailers were later located in Skelmersdale and Gillibrands Road; total value is around £205,000 as officers pursue leads and urge witnesses to come forward.
A debate over England's new geographic indication status for whisky has sparked cross-border disputes among industry groups. English distillers argue the new rules allow site flexibility, while Scottish producers warn the change could damage the single-malt reputation. The government has defended the policy as a national development.