Ukraine accused Russia of fueling terrorism in its eastern regions as a move against separatists in the town of Kramatorsk stalled on the eve of an international conference aimed at defusing the crisis.
Chateau Lafite Rothschild, a wine estate in Bordeaux’s Pauillac region north of the city, cut the price of its 2013 vintage by 14 percent from 2012 following a rain-hit crop and pressure from merchants for cheaper wines.
LVMH Moet Hennessy Louis Vuitton SA, the world’s largest luxury goods company, bought the Clos des Lambrays vineyard to expand into Burgundy, adding to its holdings in Bordeaux, Champagne and the New World.
Bordeaux 2013 wines released so far by leading estates indicate prices running from stable to 17 percent down from comparable 2012 levels, according to data compiled by the London-based Liv-ex wine market.
Chateau Angelus, a Saint-Emilion estate promoted to top status of Premier Grand Cru Classe A in 2012, cut output of its main wine by 40 percent to 45 percent in 2013 to protect a vintage it says is “easy drinking.”
Chateau Phelan Segur, an estate in Bordeaux’s Saint-Estephe region, will seek to hold prices for its 2013 vintage stable after saying it has produced wine of similar quality to the previous two years with lower yields.
Several top Bordeaux winemakers took the unusual step of adding sugar to their grape must in producing the 2013 vintage in order to raise alcohol levels, a process known as chaptalization, Decanter.com said.
Wines from the 1990 vintage of Burgundy’s Romanee-Conti vineyards led bidding at sales at Bonhams in London and Wally’s Auctions in New York in the past two weeks amid demand for older bottles from the region.
Wine prices for the Bordeaux 2013 vintage are set to be underpinned by declining yields amid pressure from merchants and investment consultants in the U.K. and U.S. for price cuts of 20 percent or more.