Diageo shareholders were toasting chief executive Ivan Menezes after he said they can expect to receive billions of pounds in share buybacks or special dividends. The Smirnoff, Johnnie Walker and Guinness producer announced that organic profit should grow by at least 14% in the year to 30 June.

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Tess Posthumus

Challenges stack up for hospitality

Tess Posthumus hates to be a doom-monger, but the reality is that many bars are facing a decidedly tough time.

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