Treasury shares fall after warning

Australia’s Treasury Wine Estates has warned that inflation is squeezing demand for its commercial-grade wine and driving up packaging costs, sending its shares nearly 8% lower.

The country’s biggest winemaker flagged challenging market conditions and the consumption outlook for commercial wine, especially in Australia and the UK, and said it was undertaking a review of its domestic supply chain and considering divesting selected assets, either individually or in combination.

Reuters, May 25

• The England & Wales Cricket Board has signed up Laithwaites Wine as its latest sponsor in a multi-year agreement which makes the brand the official wine partner of England Cricket.

Sportbusiness, May 30

Luxury travel brand CV Villas has analysed Instagram data from around the world to identify the 20 most beautiful vineyards.

Boschendal in South Africa has taken the top spot, followed by the Penfolds Magill Estate in Australia.

Popular destinations in Italy, France and Spain also feature alongside Nyetimber, the only English vineyard to make the list. Metro, May 29