CHINA IS WHERE IT’S AT

Reuters reports that wine and spirits firm Moet Hennessy, majority-owned by French fashion powerhouse LVMH , is in talks to buy into top Chinese liquor maker Jiannanchun.

Jiannanchun owns China's second-biggest brand of baijiu -- a grain and sorghum-based alcohol whose name means "white liquor.” The two companies are still in negotiations.

On Tuesday WSD reported that Diageo has also announced plans to buy a minority steak in another Chinese baijiu maker, Sichuan Quanxing Group.