still some uptick in some of that space, but not for diageo.atin america business saw sales decline 23%. the ceo saying that is expected to be 10% to 20% in the second half alone. they have a bit with the volumes in that area. they are seeing weaker performance and outlook on that side of the world. it makes up 11% of the net sales value. it does tell you how big an impact that would have. overall, net sales declined 0.6%. the expectation was to be flat over the period. foreign exchange is the key issue at play there. as i said, latin america is the key factor. the question i asked debra crew earlier, the ceo of diageo, if innovation is important and push on to make latin america grow again. >> what latin america experienced in the perfect storm following three great years of growth and rapid decline we saw off that great growth and got caught long on some inventory is a market with down trading. that being said, we launched johnny walker blonde in the market. it has done well in brazil. what it has enabled us to do is broaden the johnny walker

diageo is a proud global leader in beverage alcohol.ecause off the me with many of the branscum johnny walker, crown royal, dennis, and bailey's irish cream, to name a few. what's unique about our company and what i love about the spirits industry is that is really about celebration and culture. our products have the privilege of showing up in some of lice most memorable events and moments. and if we have the honor to be invited into peoples homes and communities, then we have to reflect those communities. and, unfortunately, as i have witnessed firsthand, people of color have been historically underrepresented in the spirits industry. 12% of beverage alcohol consumers are black, but only 8% of the workforce and only 2% of executives are black. and i could probably name most of them on one hand, myself being one. so as the first black female on diageo north america's executive leadership team, i'm proud to lead our dei and community engagement efforts. during my tenure with expanded our work to grow the next generation of black leaders

at its factory in dublin's liberties, diageo makes 3.5 million pints of beer a day.h more efficient can it get? i think we've got a mindset that there's always room for improvements. on a different horizon in north dublin, here's an entirely different workplace whose lighthouse has stood overlooking the bay forjust over 200 years. now it's home to a very modern operation. it's an unusual location. we do software for emergency response teams. i was actually kayaking around here and was looking up and said, that looks like it could be used as an office. despite the picturesque surroundings, the pandemic led to staff working remotely. now dah hires people across seven countries, though some staff and other visitors still pop in, and the challenge is to make sure the team delivers while they're spread out. productivity, to me, is when we're all pulling in the same direction. as a company is in a growth phase, you build into complexity, you get into more complexities. you get administration layers coming on top of things thatjust start adding the bureaucracy. being innova

finally, in food and beverage, diageo sales figures mixed he can ex-tpectations in the first half.t is at the bottom of the ftse 100. frank, we are off to a good start today. >> joumanna bercetche in london. >>> now back to the markets. the all world index now at a two-two h t two-year high as investors slash cuts. traders are pricing in a 47% chance of a cut at the march meeting which is down from a monthing ago. joining me now is preet. >> thank you, frank. >> the decision tomorrow with not a lot of action expected, but expectations for the jay powell comments. how do you feel what he says tomorrow impacts march? >> there are two key things tomorrow. the first is if the fed drops a statement over the rates. the second is how chairman powell will address the questions around the potential for a rate cut in march. our expectations is that the fed won't cut in march. we think growth is good enough for the fed to wait to be more conf confident. the rate cut in may is plausible if disinflation stays on track. it is worth keeping indepe mindt the fed is looking at the core pce which is

and sean diddy combs will part ways with diageo he dismissed his lawsuit, and diageo retained full ownershipto you >> thank you very much >>> still ahead, 32 attacks in the red sea by houthi rebels, the latest just hours ago, targeting a greek cargo vessel up up next, the fallout in shipping prices "the exchange" is back after this (ella) fashion moves fast. setting trends is our business. we need to scale with customer demand... in real time. (jen) so we partner with verizon. their solution for us? a private 5g network. (ella) we now get more control of production, efficiencies, and greater agility. (marquis) with a custom private 5g network. our customers get what they want, when they want it. (jen) now we're even smarter and ready for what's next. (vo) achieve enterprise intelligence. it's your vision, it's your verizon. here's why you should switch fo to duckduckgo on all your devie duckduckgo comes with a built-n engine like google, but it's pi and doesn't spy on your searchs and duckduckgo lets you browse like chrome, but it blocks cooi and creepy ads that follow youa from google and o

let's move on to diageo. shares down 16% in the past year. who is not drinking? in sales in the u.s. in particular. you say that this is still a buy for you? >> it is. we saw some weakness also in the latin america markets, however, the profitability is in the top decile. it has a net margin of 22%. a very attractive 3% dividend yield and let's look at evaluation coming in at about 15 times which is well below the 20 to 25 range and also has 7% revenue growth. we like its strategy of focusing on high-margin, premium brands such as the vodkas and the gins. we think it is really well positioned as a company. >> what about the trend that people are imbibing less and choosing other kinds of drinks? >> what's happening is they are also focusing on trying to take larger market share. believe it or not, even though it is one of the top brands, it only has about 5% of market share so what they are focused on is increasing that market share and the market is believed to grow about 9% per year so if they can expand their market share with a growing of 9%, it will still be

drinks there's way too much bourbon that is collapsing there's 50,000 brands only 500 make money and diageoant to own that stock. >> you have been constructive on the beer business. >> beer is different it's social. gop not as effective in terms of dampening the beer file. i know people feel that bud is not doing well but it's bourbon that's been getting killed whiskey, scotch, scotch not doing well used to be phenomenal not anymore. >> how about tonight, jim? >> i'm looking at bitcoin. this bitcoin exchange product, not etf. we'll analyze the protection you really get on this fund and whether it's as safe as you think. i'm going to ask jamie dimon about it >> yes he's interested in talking about it >> if he curses my numbers go up. >> i guess we beep him out. >> the late george carlin was great i'm going to try to get him to say all seven. >> it's cable, you can curse. >> really? >> when we come back, david has an exclusive with papypalpaypalw chief alex chris when we return. the first time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colo