. >> smirnov is the third biggest selling spirit. they own smirnov. what's happening in the u.s. campari ceo said it's all about the brown stuff, the whiskeys, the bourbons. >> that is what is becoming more popular in united states of america. with those of brands comes the premium is a nation as well. we are seeing it in the booze industry. agio they have the guinness brand that sells very well. you are looking at a tough consumer. in latin america, venezuela. i love venezuela. to strip the venezuela numbers out when they come. reading through some of the comments from the market analysts, you have sandberg -- sanford bernstein and they say probably more so on the beer side and valuations seem to have bottomed and people are looking through the emerging-market foreign-exchange saying traps the worst of that cycle has passed according to janet yellen. i'm calling it the yellen express. is he terms, easy street. up the equity markets go and of course, it is a reprieve and a model for the emerging-market central bankers to say good old janet is on our side. >> low interest rates we

the world's largest distiller thanks to brand like smirnov, now it wants to expand the rum business.ittle visit innovation lab where the new round gets its start. in this high-tech lab a team of experts is tasting a lot of foods. >> we are mixologists scientists. >> they work for the largest spirits maker and searching for the next hit alcohol flavor. >> what have you been working on recently? any one time we can work on 50 different ideas in this one lab. >> our consumers are constantly interested in new ideas. in order to grab a consumer's attention, you need to put something out there that does not look like everything else out there. >> the latest idea, captain morgan 1671, a premium rum finished in spanish oak. a 6-9 month process from start to for wishon. it usually starts with market research. like a lot of the marketing team will spend a lot of time bars figuring out the trend. we are seeing a movement into more slavery notes. up to the team of liquid developers to come up with liquid alcohol laced into the trends, starting with base alcohol, they spice it up from a flavor li

they want to use the distribution network to drive they own guinness and smirnov.y are the sort of brands that they could get further with in india and it is a fast-growing middle class. these are the sort of areas that we're seeing in growth of demand. >> while you were talking, i was seeing where the big deals are. >> phenomenal. far above what we are seeing in the rest of the world. it is up about 40% across the world. basically, is the increase thinkingly, people are about what it offers and also the government changing its if you are a retailer, for example. you can expand to other countries. it is fascinating to see what they are doing. one issue that they are going to a white rum. >> they have to offload that. >> there are a lot of whiskey regulatoryse concerns. i got into it in jamaica. i am not going to live. it is nice. >> it is. >> it is all the range -- all the rage. maybe a bit of water. >> yeah. ok. thank you. , credit is declining. we are live in hong kong with the details. hello. >> hello. water exciting as coconut . this is also an important measur

diageo is the worlds's biggest distiller with brands including guinness, johnnie walker and smirnov. companytalk about the in a little more detail later in our. nestle has reported its lowest sales growth since 2009. currency factors are also a significant story as well. all hitting the bottom line at the world's largest food company. we will carry on a conversation when we come back. russia, a significant market for the country, around two percent. should mission tests should recent tensions from the ukraine affected? we will talk about that when we get back. from the ukraine of fact it? we will talk about that when we get act. >> let us take you now to the shores of lake geneva. slowestas recorded the sales growth since 2009. the world's largest food company in see continued food growth russia. should nestle be worried? will find out what is worrying them. caroline hyde joins us. let's start with you. nestle does not have a huge exposure to russia. around two percent? >> if that. ne is a big player that has exposure to russia. is goingys that russia great guns, strong growth. choco

number three, when you will have heard of, smirnov.ka is owned by diageo and sold almost 234 million liters according to the 2013 report. number two, forget remi martin. this one comes from the philippines. it is called an parador. is perhaps seller one of the most specific. it is called jin roh. seen here performing gangland style. jinro. form of soju.orm of >> the figures are staggering. anything that performs gangnam style gets thumbs-up from us. with millions of people sipping jinro cocktails, should diageo be worried? let's ask a senior alcoholic drinks analyst, probably not the best choice of words. of course, manus cranny. talk us through the emerging markets. is the best-selling drink in the notd that, then why it is in the hands of one of the big giants? >> that doesn't mean that it is not going to be in their hands at some point. many of the manufacturers have realized the potential of these local drinks over the years. diageo has some acquisitions there. there were some plans to start expanding because there would be some sa

th to stillere largest with brands including johnnie walker and smirnov.2%, excluding acquisitions. the world's largest food company blames pricing pressure in europe and a slowdown in emerging markets. that is today's company news. >> it is tax day. the goals have been humbled by the spending cuts and tax increases. the nation's budget irresponsibility has significantly diminished. at the vanguard is peter orszag, the vice chairman citigroup. responsiblehed a bypass to a better budget future. we are thrilled to have you here today. nobody clicks taxes like you do. you have the most efficient tax system. >> i would not say the most. we have a very efficient system. >> it works. why aren't you guys taking a victory lap? we baffled by the migration have seen in the budget deficit and people are saying, here is what we did. let's keep doing these best practices. >> we should be. the fiscal situation is improving rapidly. not only because the economy is recovering, but because of costses -- health care has slowed down so much that the medicare numbers are just