Key occasions
Diageo warns of pricey influence of US tariffs
Lisa O’Carroll
Diageo, maker of Guinness, Smirnoff vodka and Johnnie Walker whiskey, has stated Donald Trump’s tariffs on wine and spirits will scale back its income by €173m (£150m).
The world’s largest spirits maker is the newest firm within the EU to disclose the excessive value of the US president’s new tariff commerce wars.
On Tuesday it forecast flat 2026 gross sales, raised its estimate of the influence from tariffs, and hiked its cost-savings goal by about €108m.
The EU had hoped wines and spirits would stay obligation free after Trump and European Fee president sealed the tariff deal at Trump’s Scottish golf course eight days in the past however negotiations are ongoing.
Sources say talks on spirits are extra superior than for wine.
Morning opening: Enhance the stress on Russia, says Ukraine
Jakub Krupa
A minimum of one individual died, and 12 had been injured after one other spherical of Russian assaults on Ukraine in a single day, with Ukrainian president Volodymyr Zelenskyy accusing Russia of attempting to “intimidate frontline cities and communities” by attacking civilian targets.
Zelenskyy’s most senior aide, Andriy Yermak, was extra blunt:
“Their war is with the civilian railway, trains, residential buildings. Ukraine strikes at military targets, Russia – whatever it can reach.”
However responding to the assaults, Zelenskyy as soon as once more known as on the US and the EU to show up the stress on Russia by fast-tracking much-promised sanctions and secondary sanctions on international locations supporting its battle.
“The world is now seeing that sanctions against Russia and secondary sanctions against all those who help it profit from oil can work if they are strong enough. So the pressure must be increased, and it will certainly work for peace,” he stated.
His feedback come a day earlier than US particular envoy Steve Witkoff is anticipated in Moscow for an additional spherical of high-level talks with Russia, presumably with President Vladimir Putin.
Elsewhere, I will likely be wanting on the newest from the European Fee on the EU-US tariff deal, and can convey you all different key updates from throughout Europe right here.
It’s Tuesday, 5 August 2025, it’s Jakub Krupa right here, and that is Europe Dwell.
Good morning.
