UK: AD chief exec attacks government - paper
Allied Domecq's chief executive has launched an attack on the UK's Chancellor of the Exchequer Gordon Brown, according to the Financial Times. In response to an FT survey of the country's business leaders, Philip Bowman said that the UK is rapidly losing its competitive edge thanks to increased government spending.
Bowman attacked "interventionist" government policies, saying that they were adding to Allied Domecq's UK cost base. He also told the FT that higher levels of borrowing were "very concerning", saying that spending in the public sector "has not been accompanied by significant efficiency gains".
In his response to the paper's survey of Britain's leading businesses about their expectations for 2004, Bowman dismissed the chancellor's assumptions in his pre-Budget report as "unrealistic". Bowman feels that indirect and direct tax increases seem "inevitable at a more politically expedient moment".
Conflicting reports circulated this weekend over whether Bacardi International is looking to form a counter-bid for Allied Domecq....
Todays press reports into Pernod and Fortune's hopes to buy Allied Domecq warn of possible conflicts and set a date for completion....
Allied Domecq has added a new flavour to its Malibu range. The company said yesterday that it would be launching Malibu Passion Fruit in the US from April 15....
Pernod Ricard and Fortune Brands are hoping to buy Allied Domecq for around 670p per share, according to press reports....
LVMH has said it is not looking to buy Mumm Champagne from Allied Domecq....
The US consumer goods group Fortune Brands has confirmed it is in talks about launching a joint bid with Pernod Ricard for Allied Domecq....
Diageo is to launch a new global advertising campaign for Smirnoff Ice. The first ad in the global campaign, 'Garden', launches in Great Britain on April 11th on terrestrial and satellite TV. ...
Fideuram Wargny has upgraded its rating of Pernod Ricard to 'buy' from 'hold'. Its analysts argue that the merger talks with Allied Domecq is a catalyst for share growth....
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