Drastic Dave tackles the supply side: Overhaul at Diageo is just the tonic for investors, says ALEX BRUMMER

Diageo has positioned itself as a luxury goods firm with great brands. Not just Johnnie Walker and Guinness, but Casamigos Tequilas, and much more.

Diageo shares jumped as much as eight per cent on Thursday after the London drinks giant vowed to deliver as much as $850m (£631m) in cost savings, as new boss Dave Lewis vowed to turn around the firm’s fortunes. The FTSE 100 owner of Guinness, Johnnie Walker and Tanqueray reported a three per cent dip…