Diageo Ends Cuervo Talks

Diageo, the world's biggest spirits maker, has pulled out of long-running talks to buy a stake in top-selling tequila brand Jose Cuervo in a surprise move that could slow its race into fast-growing emerging markets. The collapse of negotiations could also fuel speculation the British group will seek a deal with U.S. group Beam, home of the world's No.2 tequila brand Sauza. (Reuters)