France cut its outlook for wine production for a fourth time after botrytis rot due to wet weather caused grape losses in Bordeaux and Burgundy, adding to damage from poor flowering and summer hailstorms.
A case of 1998 Chateau Cheval Blanc, a Saint-Emilion wine estate, sold for 3,985 pounds ($6,410) on Liv-ex this week, 17 percent above its low for this year in January, amid signs of some pickup in trading on the exchange.
A case of 2008 Chateau Cheval Blanc, a Saint-Emilion wine estate, sold for 2,707 pounds ($4,380) on Liv-ex, 13 percent below its high for this year reached in February, as demand for recent Bordeaux vintages stayed muted.
Dom Perignon Champagne from vintages spanning more than 30 years goes on sale at a Sotheby’s auction in New York this month, along with Tuscan Ornellaia wines from the past two decades and lots from top Bordeaux vineyard Chateau Petrus.
Moet & Chandon Champagne from the 914 vintage harvested at the start of World War I goes on sale at a Sotheby’s auction in London in November, with bottles spanning nine decades marking the winery’s 270-year history.
The most disappointing fact about how little things have changed on Wall Street five years after the collapse of Lehman Brothers Holdings Inc. is not that the Dodd-Frank Act is ineffective. Or that no substantive regulations are in place that might prevent the recurrence of a crisis. Or that no Wall Street executive has been held even remotely accountable for failing to manage his firm effectively. Or even that the Federal Reserve’s easing policies have mostly propped up Wall Street banks at the expense of American savers.