STANDARD CAPITAL and PARTNERs 💵

거시경기와 알콜 소비의 관계에 대하여 by LSE - 159개국 15세 이상의 알콜 소비에 대하여 44년 데이터 사용 - 국가별로 GDP/capita 에 따른 상관계수는 상위 > 중하위 > 하위 > 중위 * 상위 = 국민소득 8천불 이상 국가 - 주종별로 GDP/capita 성장에 따른 상관계수는 증류주>와인>맥주 * 도수가 높을수록 상관계수가 높음

시바스리갈 CEO: 스카치 위스키 시장이 단 5년 만에 두 배가 될 것 - 영국 인도 FTA 결과 위스키 수입관세 150% 해소 기대 - 페르노리카 소유의 시바스리갈 CEO는 수요가 커지는 반면 공급이 제한된 특수한 제품인 위스키의 차별성 강조 - 빔 산토리, 엠페라도르 등 위스키 수요 증가에 대응하기 위한 증설 및 M&A 추진 지속 추세 * 인도 중산층 증가에 대한 힌트로 읽었습니다. - - - 이하 원문 - - - Why the CEO of one of the largest whisky brands believes the Scotch whisky market will DOUBLE in just 5 years Over recent years, there has been ongoing negotiations with the UK and India who are looking to strengthen trade relations by settling a free trade agreement (FTA). If you're unsure on what a free trade agreement is, in layman's terms, it is an agreement between countries that aims to facilitate trade and eliminate barriers such as tarrifs, quotas, and other restrictions on the movement of goods and services between the countries. The main purpose of FTAs is to boost trade, provide benefits to businesses and consumers and promote economic integration of both countries. The Government estimated last year that this deal could boost total trade between the two countries by £28bn per year by 2035, and boost the UK’s GDP by £3.3bn over the same period. (See here) In May 2021, the UK and India succesfully signed an Enhanced Trade Partnership (ETP), which was seen as a stepping stone towards a future comprehensive trade agreement. Over the past few years, the UK and India have been going back and forth negotiating a trade agreement between the two countries that appears to be soon finalised. We've recently seen a hugely positive article from the Daily Express, titled 'India to slash tarrifs on British cars and Scotch whisky in boost to economic relations'. You can read the article here. Mentioned in the recent article, a Department for Business and Trade spokeswoman said: “The UK and India are committed to working towards the best deal possible for both sides. We’ve made good progress.” Also mentioned in the article, India's commerce secretary, Sunil Barthwal, claimed that a deal could be signed “well before” the end of the year. Another recent article by the BBC titled 'I won't rush India-UK trade deal, says Rishi Sunak' (see here) where Rishi Sunak visited a summit of G20 leaders in India to discuss the agreement, states that the prime minister told reporters that there has been progress in the deal, however it isn't just yet finalised. It appears that there are positive advancements in the strengthening of these two nations and we're expecting to see more over the coming months. If you are wondering what I believe this means for you as a cask investor, I think it is something you should be ecstatic about. If you're unaware, India are the largest consumer of whisky in the world, with a population of roughly 1.4 billion. The UK are the largest exporters of whisky in the world, with Scotch whisky exports over £6bn for the first time in history last year in 2022. Despite this, Scotch whisky only comprises of 2% of the Indian whisky market, according to Master of Malt (see article here). The reason for this is because of high tariffs on UK exports to India, that we believe are soon to be eliminated or reduced drastically. Experts believe that this will cause the Scotch whisky market to explode in India. The CEO of Chivas Regal, Jean-Etienne Gourgues, has stated that the UK-India free trade agreement could double the size of the Scotch whisky market within five years, by eliminating the 150% import tax on whisky. Chivas Regal is owned by Pernod Ricard, one of the largest alcoholic beverage conglomerates in the world with a market cap of $48.28 billion. Chivas Regal believe the free trade agreement is immiment and are aware of the huge potential of this deal, given they've reported a 27% growth in sales in the Indian market in the fiscal year of 2023. (see here) With India's growing middle class, their appetite for premium Scotch whisky is increasing with it.

There has been huge investment by the big powerhouses in the past year in order to prepare for this, we've seen Beam Suntory, owners of Bowmore, Laphroaig and Auchentoshan, submit a planning application to build a $191m whisky maturation facility in Scotland, (see here) and Emperador, owners of Dalmore, Fettercairn and Jura purchase a new site for $106m to 'meet the growing demand' (see here). Despite the huge investment into distilleries and cask maturation faciliities over the past year, there is something that cannot be suddenly created by investing capital, and that is premium aged casks. There is no price that allows us to go back in time and produce more 10-30 year old casks for the independent bottlers who could be about to see a sudden, huge demand from the largest whisky market in the world. This makes us incredibly excited because if the experts are correct regarding the Scotch market doubling in size within the next five years, then the demand for aged casks could go through the roof, and with limited supply, this could mean cask investors are set to see huge growth in the value of their casks.

월마트, 2026년까지 2,300개 점포에 전자식 가격표(ESL) 도입 https://www.retaildive.com/news/walmart-electronic-shelf-labels-grocery-retail/718464

받) [이번주 목요일 오후 2시!] 📣 (사)넥스트 X BloombergNEF 웨비나 l 탄소중립 시대, 국내 석탄발전의 현황과 미래 ⭐️ NEXT group와 BloombergNEF 가 공동주최하는 웨비나 "탄소중립 시대, 국내 석탄발전의 현황과 미래"에 여러분을 초대합니다. ⭐️ 일 시: 6월 13일 (목) 오후 2시 - 오후 4시 (ZOOM 접속) ☘️ 신청 링크: https://us06web.zoom.us/webinar/register/WN_rFfYsyWyRc--DZrWs5ToCA ⭐️ 배 경 우리나라 정부는 2050년 탄소중립 달성을 선언하였지만 핵심요소인 탈석탄에 대한 선언은 아직 이루어지지 않고 있습니다. ➡️ 구체적이고 비용효율적인 석탄폐지 로드맵을 제안하고 논의를 활성화하는 것이 필요한 상황에서 이 웨비나는 데이터를 기반으로 2050년 국내 석탄발전에 대해 전망한 사단법인 넥스트와 송전인프라 문제와 청정 암모니아의 역할에 대해 분석한 BloombergNEF의 연구결과를 공유하고 심층 토의하고자 마련되었습니다. 🙌 유익한 지식공유와 정책 논의가 이루어지길 기대하며, 많은 분들의 관심과 참여를 부탁 드립니다.

중국이 해저케이블 포설시 딴짓을 한다고 하여 블루팀에서는 중국 업체를 기피해오는 추세입니다 https://www.eurasiantimes.com/hina-tensions-disrupt-global-communication/

Apple WWDC live updates: Tim Cook announces Apple Intelligence, the company's big AI news https://www.cnbc.com/2024/06/10/apple-wwdc-live-updates.html?__source=androidappshare

Stocks slip to start the week as traders look ahead to Fed decision, inflation data: Live updates https://www.cnbc.com/2024/06/09/stock-market-today-live-updates.html?__source=androidappshare

“최전선에선 물물교환 화폐 격”…우크라이나 군인 사이서 불티 난 ‘음료’ * 디스워오브마인이라고 혹시 들어 보셨나요...? https://www.segye.com/newsView/20240610506855

VC DEALS EnerVenue, a startup developing energy storage alternatives to lithium-ion batteries, has raised $308 million of a targeted $515 million, according to SEC filings. Chinese aerospace startup Space Pioneer raised 1.5 billion yuan (around $207 million), according to reports. Boston-based cybersecurity startup Seven AI raised $36 million from investors including Greylock, Spark Capital and CRV. Indico Data, a Boston-based startup using AI to facilitate document workflows, raised a $19 million round led by .406 Ventures. Seoul-based AI startup Wrtn Technologies has raised 25 billion South Korean won (around $18.3 million) in a round led by BRV Capital. London's Qargo, the provider of a travel management system, closed an £11 million Series A led by Balderton Capital. Microcaps, a Zurich-based developer of microencapsulation technology, secured a 9.3 million Swiss franc (around $10.5 million) Series A from investors including Helvetica Capital and Zürcher Kantonalbank. PE DEALS Blackstone has acquired a 40% stake in Copeland after NYSE-listed Emerson sold its remaining interests in the company for around $3.5 billion. My Yield, a company providing specialty treatment and support to the agriculture industry, has been acquired by Inverness Graham via a recapitalization. Aymium, a cleantech specialist that produces products with biocarbon and biohydrogen, has raised $210 million from investors including ECP ForeStar and Copenhagen Infrastructure Partners. London-based TDR Capital has acquired an additional 22.5% stake in UK-based supermarket operator Asda, boosting the firm's stake to 67.5%. EXITS & IPOS PE-backed night vision goggle maker Exosens has raised €350 million in its Paris IPO, giving the French company a market cap of over €1.1 billion. SoftBank-backed South Korean travel app developer Yanolja is seeking to raise $400 million in its upcoming US IPO, Bloomberg reported. Alternative investment bank Aviditi Advisors will be acquired by Minneapolis-based Piper Sandler, a larger peer investment bank. Carevive, a healthtech startup focused on cancer treatment, has been acquired by Nasdaq-listed Health Catalyst. Sceptre Hospitality Resources, which offers a management platform for hotels, has been acquired by The Access Group. FUNDRAISING Alphabet Inc.'s moonshot lab, X, is expected to launch a $500 million fund spearheaded by former YouTube and Facebook CFO Gideon Yu, Bloomberg reported. Harlan Capital Partners has closed a $130 million fund targeted at companies in media, technology and specialty finance. Copenhagen-based early-stage investor BlackWood Ventures has raised 110 million Danish kroner (around $16.1 million) in the second close of its debt fund.