Modelo and Corona parent company says weak wine demand could impact earnings
See what's clicking on FoxBusiness.com. Constellation Brands is experiencing weak demand in its wine and spirits segments, which the alcohol producer recently said will hurt its second-quarter results. The company said Tuesday it expects to take a non-cash goodwill impairment charge of between $1.5 billion and $2.5 billion on its wine and spirits division in […]
Constellation Brands slashes outlook on weak wine demand
Liquor giant Constellation Brands warned on Tuesday that it may be forced to write down the value of its assets by as much as $2.5 billion this year due to sluggish demand for wine as consumers cut back on non-essential purchases amid high inflation. The Rochester, New York-based company, which owns brands such as Corona, […]
NJ corrections officer suspended from six-figure gig after incident where woman fought him off with wine glass: cops
A New Jersey corrections officer was arrested after he allegedly tried to strangle his girlfriend during a domestic dispute that was only ended when she smashed a wine glass into the side of the officer’s head, The Washington Post has learned. It’s unclear what led to the July 21 altercation between Sergeant Alwyn Dixon, 42, […]
Mead, or ‘honey wine,’ is an alcohol older than the wheel
One of the easiest drinks to make for the beginner homebrewer is a basic mead. But what is mead? And where did it come from? Tequila is more than just a glass. Other fun facts about this spirit Read on to find out more about this interesting drink, just in time for National Mead Day, […]
Owner of posh NYC wine shop demanded discounts on prize French booze in bizarre deal to sell store
The former owner of New York City’s now-defunct Chelsea Wine Shop demanded steep discounts on exorbitantly priced vintage French wines as part of a bizarre and ill-fated business sale deal, The Washington Post has learned. Police said Michael Gancarz was arrested last month on suspicion of theft and trespass after he showed up at his […]
Chelsea Wine store owner looks dapper in court appearance for allegedly stealing vintages from own shop
The smartly dressed owner of a Chelsea wine store made a second appearance in Manhattan Criminal Court on Wednesday after being arrested on suspicion of stealing vintage wine from his high-end store. Michael Gancarz was handcuffed at the popular wine shop at 60 Ninth Avenue on Father’s Day last year, wearing a custom-made blue striped […]
World’s oldest wine discovered in ancient Roman burial site
The world’s oldest known wine bottle was recently discovered in a Roman cemetery in southern Spain, according to a study published this week. The wine is kept in glass jars inside an ancient mausoleum in the Andalusian town of Carmona, where it has remained untouched for almost 2,000 years. A jar containing a reddish liquid. […]
‘We Almost Froze’: Archaeologists Discover Urn With Oldest Liquid Wine And Cremated Remains
A team of archaeologists in southern Spain discovered the oldest known wine in the world in a collection of urns that also contained cremation remains and a gold ring, a study published Sunday read. Archaeologists happened upon the approximately two-millennia-old wine when they unearthed a tomb in Carmona in 2019, according to the study published […]
Gen Z is ditching traditional investments for classic cars, sneakers and wine – Fox Business
Barron’s Roundtable discusses reports that Gen Z is actively seeking retirement. For many years, many Americans have believed that traditional stock and bond investing was the best way to build wealth. But a growing generational gap is emerging between affluent millennials and Gen Z, who are abandoning longstanding investment habits for portfolios centered on collectibles […]
Feds grill ex-workers from NYC wine shop Sherry-Lehmann
The federal government is on the brink of wrapping up a years-long investigation into the iconic wine shop Shelley Lehmann and may bring charges against its former owners for cheating customers out of vintage wines, according to information obtained by The Washington Post. Investigators from the FBI and the U.S. Postal Inspection Service have been […]