The premier of New South Wales in Australia has resigned after “forgetting” to declare he had received a bottle of 1959 Penfolds Grange as a gift from a suspect in a corruption case.
US fund manager Wellington Management has spent AU$25m on shares in the struggling wine company Treasury Wine Estates.
Penfolds has released 330 bottles of a 50-year-old rare tawny onto the market priced at £1,900.
Shares in global wine giant Treasury Wine Estates have been placed in a trading halt today at the company’s request pending a review of its earnings.
Fiery cocktails light up the week in pictures along with Spanish glamour, winter beards and a touch of royalty.
The austerity measures put in place by the Chinese government have led to huge price cuts in Treasury Wine Estates’ flagship label, according to the Australian Financial Review.
Penfolds winemakers inspected 230 bottles of Penfolds in London yesterday, including one bottle of “secret” Grange, at the brand’s recorking clinic.
Some of Australia’s leading properties will top the bill at Bonhams’ fine wine sale in London later this week.
Australian fine wine producer Tahbilk is adamant not to get drawn into the discount culture emerging both in the US and at home for Australian wines.
Australian wine brand Penfolds has set up a partnership with UK fine dining restaurant group D&D London.
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