John Mullen is currently the chairman of ASX-listed companies Qantas,Treasury Wine Estates and Brambles,raising concerns that he has become overloaded.
China’s scrapping of wine tariffs has lifted demand and put pressure on global supply,leading Treasury Wine Estates to raise prices.
Treasury Wine Estates is doubling headcount in China to re-establish the Penfolds brand as China’s top luxury drop – and has flagged global price increases.
Rate-sensitive sectors including consumer stocks dragged the local sharemarket lower,despite a US equities rebound overnight following its steep sell-off.
Treasury Wines is upping its bet on the high-end market for wine with a deal to buy the fastest-growing luxury wine brand in the US.
The Australian wine industry has received its clearest signal yet that it is one step closer to resuming regular trade with what was once its largest market.
The university’s new research centre is bankrolled by the International Centre for Responsible Gambling,funded by some of Las Vegas’ biggest casino operators.
Treasury Wine Estates took a profit hit despite raising prices for several of its brands as demand for budget wines such as 19 Crimes and Wolf Blass faltered.
Treasury Wine Estates will close its Karadoc winery – used to make budget wines – and instead focus on its premium and luxury brands,putting 60 jobs on the line.
The Australian sharemarket was dragged down by miners and banks on Thursday as stocks tumbled worldwide on worries about the global economy.
The American rapper did initially help the 19 Crimes label,but Treasury Wines took a hit on Thursday on the back of a slump in sales of its budget brands.