CITY WHISPERS: French winemakers eye British sparkling wines

It took a few years for English sparkling wine to win over the smug foreign sommeliers who liked to joke that our drinks were as bad as our food.

But our winegrowers in Kent, Sussex and elsewhere are taking the sector by storm. Last month at the prestigious Decanter World Wine Awards, Chapel Down rosé was crowned best in show.

Chapel Down and its Kent rival Gusbourne, both listed companies, are now exploring options including sale.

After years of hard work to build a local industry to rival Champagne, Whispers is hearing rumours (literally) that there are concerns that French luxury houses could be looking to acquire it.

Taittinger, which will launch its first English sparkling wine in September, got a head start when it bought vineyards here several years ago.

No doubt other continental groups are eyeing our increasingly mature vines. We’ll try to take that as a compliment.

Discounted wages

It has become a summer ritual for Whispers to review the annual reports of FTSE 100 companies.

There will be red faces at student accommodation group Unite after the chair of its board’s remuneration committee had her salary docked.

Nicky Dulieu was overpaid in 2022, Unite accounts reveal, with the firm saying his £63,000 salary from last year reflects the deducted amount. Oops!

Hvivo share sales boost

Generally when a director sells a large portion of his shares it is a bad sign.

But at Hvivo, which tests vaccines for diseases in human trials, chairman Cathal Friel sold £6.1m of shares for the best possible reason.

Friel’s sale of more than 21 million shares was aimed at meeting demand from institutional funds that were impressed by Hvivo’s presentation on a capital markets day.

He has a large stake in the group as his former company, Open Orphan, merged with Hvivo in 2020.

It was a good time to sell, as the company’s shares are up about a quarter so far this year.

CEO Yamin Khan has made it clear that he wants Hvivo to buy smaller rivals. Stay tuned.

The ‘Fulham life jacket’ is in fashion

Until now, the sleeveless, lightly padded thermal garment worn by city dwellers at work and leisure was known as a “financial vest.”

But it now has another name: the Fulham lifejacket, a reference to the garment’s ubiquity during this chilly summer in this expensive west London suburb.

“It’s kind of a comfort blanket for me,” said one resident who is rarely seen without his green quilted Crew Clothing number.

“I think it’s a bit like Succession, but I can tell Instagram thinks it’s a bit sad.” Tragic situation, guys. There’s always next year.

Contributors: Patrick Tooher and Anne Ashworth