What the papers say - May 17, 2007

Not content with exporting Dom Pérignon champagne, Hennessy cognac and Glenmorangie whisky to China's elite, France's LVMH has taken a majority stake in Wenjun, a Chinese distillery. Its decision to buy 55 per cent of the business for an undisclosed sum highlights the desire of international drinks groups to win a foothold in the fast-growing market for Chinese clear grain spirits, known as baijiu or "white alcohol" - The Financial Times​

SABMiller, the world's second largest brewer, has reported a 14 per cent rise in pre-tax profit to $2.8bn for the year to March 31. But it failed to meet market expectations, as "difficult trading conditions" in North America offset a very strong performance in most other regions. Earnings from the North American Miller operations fell by 17 per cent to $375m. Malcolm Wyman, chief financial officer, said Miller's "very tough year" was due mainly to rapidly rising input costs - particularly the high price of aluminium used to make beer cans, which added about $100m to costs - The Financial Times​

Scotch whisky group Whyte & Mackay is in Indian hands after being taken over for £595m by the billionaire Vijay Mallya. The deal provides a windfall for Vivian Imerman, Whyte & Mackay's chief executive, who bought a stake in the business in 2001 and took complete control in 2005, when the company was valued at £175m - The Daily Telegraph​

Civil liberties and homelessness campaigners last night sharply criticised plans to give the police powers to "shut and seal" all premises, including flats, pubs and clubs, generating yobbish behaviour. The home secretary, John Reid, announced at the Police Federation conference in Blackpool yesterday that the powers would form part of a criminal justice bill to be introduced in the next few weeks, before Tony Blair leaves Downing Street - The Guardian​