City reacts with shock to Labour’s plans to part-nationalise BT

first_img Labour is set to announce the policy tomorrow at a speech in Lancaster. Chief executive of trade group Tech UK Julian David said: “These proposals would be a disaster for the telecoms sector and the customers that it serves.” Mark Littlewood, head of think-tank the Institute of Economic Affairs, said: “To bring internet provision into the state’s remit would ensure all of the delays, waiting times and quality decline that go hand-in-hand with bureaucracy.” Read more: Labour’s nationalisation plans are a risk to London’s investment appeal Labour said the capital cost of the roll-out of the full-fibre network would be in excess of £20bn, which it said it would pay for by taxing tech giants. A BT spokesperson said, “Whatever the result of the election, we’d encourage the next government to work with all parts of the industry to achieve that.  It’s a national mission that’s bigger than any one company.” Labour unveiled the new £20bn policy late last night and said it would pay for its plan by levying a tax on tech giants such as Amazon, Google and Facebook. whatsapp It also said it will nationalise “broadband-relevant parts of BT”, including Openreach (which runs much of the existing digital network), parts of BT Technology (which oversees the wholesale network), BT Enterprise (which sells broadband to business) and BT Consumer (which sells broadband to individuals). City reacts with shock to Labour’s plans to part-nationalise BT Read more: Labour plays down BT renationalisation  And add: “Every part of this plan has been legally vetted, checked with experts, and costed.” The City reacted with shock tonight to Labour’s plans to part-nationalise FTSE 100 giant BT and promise free full-fibre broadband for every UK household. Share Thursday 14 November 2019 11:50 pm Shadow chancellor John McDonnell will say: “This is public ownership for the future.” “Corbyn is clearly so desperate to distract from his party’s divisions on Brexit and immigration that he will promise anything, regardless of the cost to taxpayers and whether it can actually be delivered. What reckless idea will be next?” The Conservatives had previously promised £5bn to back the UK roll-out of full-fibre broadband. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily Funnyzenherald.comDolly Finally Took Off Her Wig, Fans Gaspedzenherald.comYourDailyLamaHe Used To Be Handsome In 80s Now It’s Hard To Look At HimYourDailyLamaNoteableyAirport Security Couldn’t Believe These Jaw-Dropping MomentsNoteableybonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comMisterStoryWoman files for divorce after seeing this photoMisterStoryDefinition24 Of The Most Hilarious Yard Signs Ever WrittenDefinitionPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryAmoMediaMan Leaves Wife For Her Sister, Her Revenge Is BrilliantAmoMedia whatsapp Nicky Morgan, secretary of state for Digital, Culture, Media and Sport, slammed the plans, saying: “Jeremy Corbyn’s fantasy plan to effectively nationalise broadband would cost hardworking taxpayers tens of billions. The British Telecom (BT) logo is pictured in London, 18 May 2006. British telecoms operator BT Group unveiled on Thursday a 15.4-percent drop in net profits for its 2005-2006 financial year, but pre-tax profits rose on growth of its broadband Internet service. Net profits stood at 1.548 billion pounds (2.278 billion euros, 2.919 billion dollars) in the twelve months to March 31, 2006, compared with 1.829 billion the previous financial year, BT said in an official earnings release. BT, the biggest British telecom company, said that sales had risen by 6.0 percent to 19.514 billion pounds over the period. AFP PHOTO/SHAUN CURRY (Photo by SHAUN CURRY / AFP) (Photo credit should read SHAUN CURRY/AFP/Getty Images) Labour said the cost of part-nationalising BT would be set by parliament and paid for by swapping government bonds for shares. Matthew Howett, principal analyst at Assembly Research, said: “Only one other country in the world has gone down this route, and for a good reason. It’s hard, expensive and fraught with difficulty. Australia’s NBN is years late, massively over budget and offering speeds and technology a fraction of the original political aim.” James Booth Show Comments ▼last_img read more

Nestlé snaps up majority stake in UK’s Mindful Chef

first_imgMonday 9 November 2020 7:53 am Nestlé snaps up majority stake in UK’s Mindful Chef whatsapp The acquisition further expands Nestlé’s portfolio of direct-to-consumer businesses with Mindful Chef joining coffee brands Nespresso and Nescafé Dolce Gusto as well as newer additions in petcare, such as and Lily’s Kitchen. whatsapp Financial details and terms of the deal, which is expected to close before the end of the year, were not disclosed but school friends Giles Humphries, Myles Hopper and Robert Grieg-Gran, who founded the company in 2015, will remain minority shareholders and continue to run Mindful Chef. As a result of the takeover, consumer brands specialist investor Piper, which invested in Mindful Chef in 2018, will exit the business. Since its launch five years ago, the business delivered around 9.5m meals to households across the UK. Following two oversubscribed crowdfunding rounds with Seedrs in 2016 and Crowdcube in 2017, the business amassed support from roughly 800 crowdfund investors, including Sir Andy Murray, Victoria Pendleton CBE and Will Greenwood MBE.       Crowdfund investorscenter_img Michiel Willems Nestlé has agreed to acquire a majority stake in the healthy recipe box and prepared frozen meals company Mindful Chef, bolstering its food and direct-to-consumer offerings in the UK and Ireland. (AFP via Getty Images) Share Tim Lee, Mindful Chef’s CEO, expects to see sales of over £50m this year: “Nestlé’s experience and support gives us the opportunity to build on this success in the UK and beyond.” Show Comments ▼last_img read more

Harvard panel examines the 21st Century Cures Act

first_img Log In | Learn More Harvard panel examines the 21st Century Cures Act Unlock this article by subscribing to STAT+ and enjoy your first 30 days free! GET STARTED Health About the Author Reprints Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond. The 21st Century Cures Act has sparked debate since its passage in the last days of the Obama presidency. The law promises to ramp up funding for biomedical research while it also loosens regulations governing drugs and medical devices. Supporters say it will speed up approval of new treatments, while critics are concerned that the safety and effectiveness may be compromised.To debate these points and other implications of the law — whose implementation will be a major priority for the new FDA commissioner soon to be appointed by President Trump — the Forum at the Harvard T.H. Chan School of Public Health invited experts to participate in an hour-long panel discussion. Presented jointly with STAT, the event video is below. STAT staffcenter_img What’s included? What is it? GET STARTED By STAT staff Feb. 27, 2017 Reprints Dina Rudick/The Boston Globe [email protected] Tags policylast_img read more

Allianz tests blockchain technology for catastrophe bond trading

first_img Facebook LinkedIn Twitter Blockchain, digital assets face legal hurdles: SIFMA “The test run not only demonstrates that transactional processing and settlement between insurers and investors could be significantly accelerated and simplified by blockchain-based contracts, but also points to other benefits such as increased tradability of cat bonds and wider opportunities to apply this technology in other insurance transactions,” the companies say. The financial industry, regulators, and policymakers, are both exploring the possible use of the distributed ledger technology, also known as blockchain technology, as a way to carry out all sorts of financial transactions more safely and efficiently. In this case, ART and Nephila say that blockchain-based contract technology “has the potential to facilitate and accelerate the contract management process” of cat swaps and bonds. So that when a qualifying triggering event, such as a natural disaster, occurs, “the blockchain smart contract picks up the predefined data sources of all participants, and then automatically activates and determines payouts to or from contract parties.” “Blockchain technology would increase reliability, auditability and speed for both cat swaps and bonds as less manual processing, authentication and verification through intermediaries is required to confirm the legitimacy of payments/transactions to and from the investors,” says Richard Boyd, chief underwriting officer of ART. “By replacing the human interventions which are currently embedded throughout the entire risk transfer process, frictional delays and the risks of human error are completely removed – with a radical effect on the speed and efficiency of the process and, in the case of bonds, on the tradability of such securities.” The firms say that they foresee applications of the technology across the insurance industry. “We believe technology will drive the future of insurance. We have invested a great deal accordingly and are pleased to extend our long-standing strategic partnership with ART to use of the blockchain,” adds Laura Taylor, managing principal at Nephila. “In our journey to become more digital, Blockchain promises to help us create more transparent, more convenient and faster services for our customers,” says Solmaz Altin, chief digital officer at Allianz Group. Keywords Blockchain James Langton Blockchain technology to improve efficiency, security for securitizations, Moody’s sayscenter_img A division of German insurance giant Allianz Group AG has successfully tested blockchain technology for transacting in so-called “cat” bonds, which allow insurers to package off the risk of natural catastrophes, such as hurricanes and earthquakes, and sell them to investors. Allianz Risk Transfer (ART) announced Wednesday it has successfully piloted the use of blockchain technology for transacting a cat swap, along with Bermuda-based Nephila Capital Ltd., an investment manager specializing in reinsurance and weather risk. JPM Coin makes a mainstream case for blockchain Share this article and your comments with peers on social media Related newslast_img read more

Income inequality narrowed amid fiscal supports in 2020: StatsCan

first_imginequality between people iStockphoto Thanks to generous government support efforts, all households finished 2020 with higher incomes than the year before — with lower- and middle-income households benefiting most, according to new data from Statistics Canada.The national statistical agency reported that income inequality declined in 2020, as the gap between the highest- and lowest-income households shrank by 1.9 percentage points, compared with the previous year. Leading indicators signal steady rebound: OECD Economy lost 68,000 jobs in May Facebook LinkedIn Twitter Share this article and your comments with peers on social media James Langton Household debt-to-income ratio fell in first quarter: Statscan Related news “The overall gains were led by unprecedented increases in current transfers in the second quarter, as governments’ Covid-19 support measures were implemented to help mitigate negative impacts from the pandemic,” the agency said.Households in the lowest 20% saw their disposable income rise 17.6% and net worth gained 10.7% over 2019 levels.“Gains in net worth for the lowest-income earners were driven by larger percentage increases in real estate assets that outpaced increases in mortgage debt,” StatsCan said, adding that the lowest-income households also reduced their non-mortgage debt by more than other groups in 2020.Notwithstanding the rise in income, employee compensation dropped in 2020 for all households, with the lower-income households and younger households taking the hardest hit, “as many people in these households work in industries or jobs hard-hit by the pandemic,” StatsCan noted.The agency also reported that overall household spending declined in 2020, led by the highest-income earners, who reduced spending by 7.0% compared with the previous year. These high-income households also saw net worth rise by 9.0% in 2020.With incomes up and spending down, savings improved for all households, too.“Middle-income households experienced some of the biggest gains as they switched to a net saving position in 2020 from a net dissaving position in 2019,” StatsCan said. Keywords Economic indicators,  Income,  Consumer borrowing and savingCompanies Statistics Canada last_img read more

Upcoming Lamborghini Urus will have 650+ horsepower

first_img RELATED TAGSLamborghiniHatchbackCUV / CrossoverNew VehiclesAutomobili Lamborghini Holding SpACars and Car DesignCrossoverCulture and LifestyleEuropeLuxury and Exotic CarsSports CarsStefano DomenicaliUnited States Created with Raphaël 2.1.2Created with Raphaël 2.1.2 The Urus will be Lamborghini’s first turbocharged and hybrid vehicle when it debuts in 2018. Trending in Canada PlayThe Rolls-Royce Boat Tail may be the most expensive new car everPlay3 common new car problems (and how to prevent them) | Maintenance Advice | Driving.caPlayFinal 5 Minivan Contenders | Driving.caPlay2021 Volvo XC90 Recharge | Ministry of Interior Affairs | Driving.caPlayThe 2022 Ford F-150 Lightning is a new take on Canada’s fave truck | Driving.caPlayBuying a used Toyota Tundra? Check these 5 things first | Used Truck Advice | Driving.caPlayCanada’s most efficient trucks in 2021 | Driving.caPlay3 ways to make night driving safer and more comfortable | Advice | Driving.caPlayDriving into the Future: Sustainability and Innovation in tomorrow’s cars | virtual panelPlayThese spy shots get us an early glimpse of some future models | See More Videos Trending Videos Back in February, word on the street was the Lamborghini Urus would hit production by April 2017. Well, a quick glance at the calendar reveals it’s well past April – and still no Urus.But now, according to Automotive News Europe, Lamborghini CEO Stefano Domenicali promises the twin-turbo V8 in the Urus will churn out more than 650 horsepower. Moreover, production has been pushed back to 2019; 1,000 examples will be built the first year and 3,500 each year following. This doesn’t sound like a lot until you realize that Lamborghini usually only builds about 3,500 cars per year. advertisementcenter_img Buy It! Princess Diana’s humble little 1981 Ford Escort is up for auction An engagement gift from Prince Charles, the car is being sold by a Princess Di “superfan” COMMENTSSHARE YOUR THOUGHTS Canadian pricing hasn’t been announced yet, but U.S. pricing is forecast to be around US$200,000. The Urus is all but guaranteed to have a healthy waitlist; the line to get an Aventador takes a year and there is a roughly seven-month wait for a Huracán. The Rolls-Royce Boat Tail may be the most expensive new car ever We encourage all readers to share their views on our articles using Facebook commenting Visit our FAQ page for more information. ‹ Previous Next ›last_img read more

Tesla Model 3 sales set to begin July 28

first_img Musk expects Tesla to produce 100 cars in August and more than 1,500 in September. “Looks like we can reach 20,000 Model 3 cars per month in December,” he wrote. That figure is less than previous estimates; Musk earlier had said Tesla would make 10,000 Model 3s per week by December.Tesla also said it delivered about 22,000 vehicles in the second quarter, bringing first-half deliveries to about 47,100. That’s at the low end of the company’s prediction earlier this year of 47,000 to 50,000 Model S sedan and Model X SUV deliveries in the first half, as much as a 71 per cent increase over a year ago.While second-quarter deliveries rose 53 per cent from a year ago, they still were about 12 per cent below first-quarter deliveries. Tesla said in a statement that second-quarter production was hampered by a severe shortfall of battery packs. Production averaged 40 per cent less than demand until early June, the company said.RELATED The first Tesla Model 3 electric car for the masses should come off the assembly line on Friday with the first deliveries in late July, CEO Elon Musk says.In several Tweets, Musk says the new car passed all government regulatory requirements for production to begin two weeks ahead of schedule. The company plans to hold a party to hand over the first 30 Model 3s to customers on July 28, Musk wrote.The Model 3 is to start around US$35,000, and with a US$7,500 federal electric car tax credit, it could cost $27,500. Tesla says the five-seat car will be able to go 215 miles (346 kilometres) on a single charge and will be sporty, accelerating from zero to 60 mph (96 km/h) in under six seconds. Elon Musk tries to ‘anti-sell’ Tesla Model 3 as production loomsTesla said that as long as global economic conditions don’t worsen considerably, it is confident that second-half Model S and Model X deliveries are likely to exceed deliveries in the first half.Musk’s tweets about the Model 3 appear to erase doubts that Tesla would be able to meet deadlines for mass producing the cars, which is key to the company making money. Previously it has faced delays in getting vehicles to market. The Palo Alto, California-based company aims to make 10,000 Model 3s per week in 2018.Tesla hasn’t said how many people have put down $1,000 refundable deposits for the Model 3, but Musk has said people who put down a deposit now won’t get a car until the end of 2018, suggesting it could be close to 500,000.Tesla’s last new vehicle, the Model X SUV, was delayed nearly 18 months. Musk says the Model 3 is much simpler to make, but 14-year-old Tesla has no experience producing and selling vehicles in high volumes after making just 84,000 cars last year. Bigger rivals like General Motors, Volkswagen and Toyota routinely sell around 10 million vehicles per yearEven if the Model 3 is on time, servicing all those vehicles will still be a challenge. Model S and Model X owners are already worried about having to share Tesla’s company-owned charging stations with an influx of new cars. And while Tesla is promising to increase its network of stores and service centres by 30 per cent this year, it began 2017 with just 250 service centres worldwide. That leaves many potential owners miles from a service centre.Musk has said a new fleet of mobile service trucks will be deployed to help customers who are far from service centres. Tesla also plans to double its global high-speed charging points to 10,000 by the end of this year and increase them by another 50 per cent-100 per cent in 2018.Until recently, Tesla owned the market for fully-electric vehicles that can go 200 miles (322 kilometres) or more on a charge. But that’s changing after GM beat Tesla to the mass market with the Chevrolet Bolt, a $36,000 car that goes 238 miles (about 383 kilometres) per charge. Audi plans to introduce an electric SUV with 300 miles (483 kilometres) of range next year; Ford will have one by 2020. Volkswagen plans more than 30 electric vehicle models by 2025. RELATED TAGSTeslaNewsAB VolvoAudi AGAutomotive TechnologyCaliforniaCars and Car DesignCulture and LifestyleDriving.caElectric VehiclesElon MuskFord Motor CompanyGeneral Motors CorporationGoogle Inc.Mercedes-Benz International Inc.Palo AltoScience and TechnologySUVs and CrossoversTechnologyToyota Motor CorporationUnited StatesVolkswagen AG Created with Raphaël 2.1.2Created with Raphaël 2.1.2 Elon Musk says Tesla Model 3 owners won’t be able to use the company’s Superchargers for free. PlayThe Rolls-Royce Boat Tail may be the most expensive new car everPlay3 common new car problems (and how to prevent them) | Maintenance Advice | Driving.caPlayFinal 5 Minivan Contenders | Driving.caPlay2021 Volvo XC90 Recharge | Ministry of Interior Affairs | Driving.caPlayThe 2022 Ford F-150 Lightning is a new take on Canada’s fave truck | Driving.caPlayBuying a used Toyota Tundra? Check these 5 things first | Used Truck Advice | Driving.caPlayCanada’s most efficient trucks in 2021 | Driving.caPlay3 ways to make night driving safer and more comfortable | Advice | Driving.caPlayDriving into the Future: Sustainability and Innovation in tomorrow’s cars | virtual panelPlayThese spy shots get us an early glimpse of some future models | COMMENTSSHARE YOUR THOUGHTS advertisement Trending Videoscenter_img We encourage all readers to share their views on our articles using Facebook commenting Visit our FAQ page for more information. The Rolls-Royce Boat Tail may be the most expensive new car ever Trending in Canada Automotive competitors like Mercedes-Benz and Volvo — not to mention tech companies like Google and Uber — can also match Tesla’s efforts to develop self-driving vehicles and they have deeper pockets. Tesla has had only two profitable quarters in its seven years as a public company. See More Videos Buy It! Princess Diana’s humble little 1981 Ford Escort is up for auction An engagement gift from Prince Charles, the car is being sold by a Princess Di “superfan” ‹ Previous Next ›last_img read more

Gain leadership experience, help welcome new students as a Journey Leader

first_imgOn-campus leadership opportunityJourney Leaders are a diverse team of CU Boulder students who work together to welcome new students and families to campus at Fall Welcome events. Show your CU pride, be a campus leader and welcome a new herd of CU Buffs by joining the Journey Leader team today.Benefits of being a Journey LeaderGain valuable leadership experience to build your résumé.Get involved on campus and show your Buff pride.Receive exclusive CU Boulder apparel and other branded items.Develop your public speaking and teamwork skills.Make new friends!The deadline for Journey Leader applications is March 1. Learn more and apply today! Want to learn more about becoming a Journey Leader?Attend an upcoming info session to meet the Journey Leaders and learn more about what they do.Monday, Feb. 10 6–7 p.m. | C4C 350Thursday, Feb. 20 6–7 p.m. | C4C 350 Categories:Getting InvolvedCampus Community I love being a Journey Leader for all of the chances to join and walk alongside the new students during a huge part of their life adventure, especially through the new struggles and joys of college. College presents so many interesting friends and situations that can be very daunting, but I can say there has been nothing like the friendships I have shared through my experiences in New Student and Family Programs.” –Greg M., sophomore Are you proud to be a CU Buff? Do you want to gain valuable leadership experience? Then be the first to welcome new students and families to campus by joining the Journey Leader team. Share Share via TwitterShare via FacebookShare via LinkedInShare via E-mail Published: Jan. 17, 2020 last_img read more

Joseph Jewell Winery Celebrates 10 Year Anniversary

first_imgAdvertisementFORESTVILLE, CA, FEBRUARY 13, 2017 – Joseph Jewell Winery, the small family-owned winery located in picturesque Sonoma County, California, is celebrating its 10th anniversary. Winemakers and co-founders, Adrian Jewell Manspeaker and Micah Joseph Wirth, have spent the past ten years remaining steadfast in their philosophy to produce distinctive, soulful, and delicious vineyard-designated wines.Joseph Jewell Winery was born in 2006, when Adrian and Micah created their first wine in a Windsor, CA garage. With two French oak barrels, a small basket press, and exactly one ton of Russian River Valley grapes, these two friends created 50 cases of single-vineyard pinot noir and have been expanding ever since. In 2007, the first official vintage with the Joseph Jewell name (a combination of the winemakers two middle names) was released. Ten years later, they are now producing around 2,500 cases/year, have had their award-winning wines featured in numerous publications, and in 2015, they opened a tasting room in the Russian River Valley town of Forestville, CA.Sourcing their fruit from independently owned properties in Sonoma and Humboldt Counties, Joseph Jewell Winery creates elegant and balanced wines that allow the individuality and distinct characteristics of the vineyard to shine through. “Each vintage we produce brings new challenges, making our job as winemakers exciting year after year,” says Wirth. “The relationships Adrian and I have with our growers is one of our biggest assets. Working with such a talented and committed group of people is something we not only take pride in, but feel grateful for everyday”.     This type of success takes hard work, persistence and passion, qualities that Manspeaker and Wirth emanate daily. “I keep my eye on others in the industry and their successes, which continuously drives my motivation and determination,” says Manspeaker. “The wine business is very competitive and challenging, which is why I enjoy it so much. Our goal at Joseph Jewell is to create the very best wines we can, and we think they stand up against the best producers in our region.”Joseph Jewell Winery has received consistent recognition as a producer of award-winning wines. Twenty-two of their wines have received 90 points or greater from publications such as Wine Enthusiast and Wine & Spirits; been included in Wine & Spirits “Top 100 Wines of the Year”; featured as Wine & Spirits’ “Winery to Watch”; served at The United States Department of State luncheon in honor of Juan Manuel Santos, the President of the Republic of Colombia; as well as various other accolades.Currently, Joseph Jewell Winery produces the following:Four Single Vineyard Pinot Noirs from Russian River ValleyOne Appellation Pinot Noir from Russian River ValleyOne Appellation Chardonnay from Russian River ValleyTwo Single Vineyard Chardonnays from Russian River ValleyThree Single Vineyard Pinot Noirs from Humboldt CountyOne Appellation Pinot Noir from Humboldt CountyThree Reserve Pinot Noirs (available for Wine Club members only)One Single Vineyard Zinfandel from Dry Creek ValleyOne Pinot Noir RoséJoseph Jewell’s award-winning wines can be purchased via their website, tasting room, specialty wine shops, as well as by becoming a Wine Club member. For more information, please visit ReddIt TAGSConsumerJoseph Jewell Winery Share Home Industry News Releases Joseph Jewell Winery Celebrates 10 Year AnniversaryIndustry News ReleasesWine BusinessJoseph Jewell Winery Celebrates 10 Year AnniversaryBy Press Release – February 17, 2017 54 0 Previous articleGrandfather of BC Wine Recognized for Contributions to Canada’s Wine IndustryNext articleHQ Wine + Spirits Is BC’s Newest Sales Agency Press Release Linkedin Facebook Pinterest Twitter Emaillast_img read more

Domestic Rosé Gaining Market Share from French

first_imgPinterest TAGSBieler Pere et Fils ‘Sabine’ RoséCharles & CharlesCharles BielerfeaturedKim BadenfortLa CremaMeiominielsenRoseWine Business Share Twitter Email Linkedin ReddIt AdvertisementCharles Bieler Shares His Insights on Domestic Versus French RosésThe rosé trend still shows no sign of slowing with its third consecutive year with over fifty percent growth. According to Nielsen retail outlet data the rosé category grew 64% over the last twelve months, but unlike a year ago (U.S. Producers Betting on Rosé and Challenging French Dominance) domestic rosé is now outpacing imports growing at 112% compared to 42.8% growth for French rosés. This marks a significant turnaround from a year ago when domestic producers were trailing overall category growth. However, French rosés continue to hold the dominant market share with 60% of the rosé category measured by dollar value.The vast majority of rosé imports fall in the premium segment (above $9) and the average French Rosé costs $12.63 compared to the average domestic rosé which is priced at $7.47. However, even in this segment domestic rosés are gaining market share with growth topping 110% over the last twelve months compared to just 43.1% for French rosés in that segment.Domestic rosé’s initial gap in keeping up with the growth trend could be a function of wineries needing time or being cautious about entering a new category, but doubts about rosé’s viability as a category seems to have faded as nearly 400 new rosés entered the U.S. market over the past year, and domestic rosés may make even further gains on the French in the coming year with the French grape supply suffering from the severe weather and consequently smaller harvest of 2017.Some of the domestic rosés capturing big market shares in the premium off premise segment are new players in the segment, but have existing, strong brands, like La Crema and Meiomi, that have catapulted them into the ranks of best-selling premium rosés. However, the pioneers of domestic premium rosé like Francis Ford Coppola’s Sofia and Charles & Charles Rosé are still holding strong with consumers.Charles & Charles is a collaboration between Charles Smith and Charles Bieler started in 2008, and the rosé is one of five wines that they make together. Bieler brought extensive rosé experience to the collaboration, having made rosé in France since 1998. Bieler has been producing Bieler Pere et Fils ‘Sabine’ Rosé from Coteaux d’Aix Provence since 2005, the no. 1 Aix-en-Provence sold in the U.S., which gives him a unique Trans-Atlantic perspective on domestic versus French rosé.Charles Bieler on Domestic & French RosésAmerican dry rosés have learned a lot by emulating the French, especially provenical style, but do you think there’s a particular American style, traits, or trend of dry rosé emerging?Charles Bieler, photo by Brittany KlutzkeOver the last 20 years we’ve been making rosé, I haven’t seen an American rosé trend emerge. American rosé producers most often seek to achieve a Provence style, but some are more successful at it than others. Differences arise because most American producers are using warm-site grapes better suited for ripe red wines, which aren’t ideal for making Provence-styled rosé. To achieve the delicate balance characteristic of Provence rosés, winemakers must make several adjustments while crafting their wines.At Charles & Charles, we’re proud to have an edge when facing this challenge. Charles & Charles is unique in that we are a 10,000+ case producer who has a dedicated rosé program that does not overlap with our red program. Through this investment, we’re able to make savory and citrus-forward rosés that the new rosé drinker is seeking, as opposed to wines with the simple red fruit profile that red programs produce. Winemaking adjustments and additions to juice intended for a different purpose will only take you so far.With the huge influx of new rosés in the US Market, what do you think is the most important for domestic and French brands to make it in this growing market segment?It’s become a fiercely competitive wine market of late. The rosé market has come a long way from where it was 20 years ago when I started and I couldn’t give away rosé. Just by being from Provence or pale-pink in color doesn’t guarantee anything in this market today.To play in the high priced game of $18 and above you need scores and an aggressive lifestyle marketing campaign. Novel bottle shapes will occasionally allow a brand to break through. There are of course also rosés that break through when a big company leverages the strength and success of another variety from that brand, like its cabernet, allowing them to get chain distribution.At the end of the day though, I think that buyers and consumers are getting smarter about rosé so it comes down to quality and authenticity at reasonable prices as the only sure way to get a certain amount of success. That’s probably not sufficient to become a top brand, but at some point this category will soften. When that time comes, all that will be left are a few of the biggest brands and the quality/value wines.Charles Bieler, photo by Brittany KlutzkeWhat do you see as the main differences in making a French or American rosé?I’d first caution against grouping all French rosés into the same category, as there’s quite a range within France. Certainly Provence is the clear leader, and the successful rosés that aren’t from Provence are trying to mimic that style. Many American wineries are also attempting to go after this same Provence profile, but America’s warm site vineyards tend to yield a bit softer and red-fruit oriented rosé. There are some great $18+ American rosés that are from appropriate rosé vineyards and made to have the savory balance, but they aren’t in abundance.Successful American rosé is achieved with vineyards, terroir and climate that mirror that of Provence. Because these variables naturally differ, American rosé producers must do quite a bit of additional work to achieve the Provence style. And, American producers are able to do this more easily than their French counterparts. For example, in Provence it’s illegal to add white wine to a rosé. Provence winemakers can co-ferment certain white grapes and retain their appellation status, but they can’t simply add white wine. New world wineries are increasingly relying on this method to add elegance.Predictions for the rosé segment in the US, how much more growth do you expect? Will domestic producers eventually overtake French?My hope is that US retailers don’t allow the big brands, marketers or profiteers to become more than 50 percent of the average set. If the majority of the set is well made rosé from suitable vineyards by people with tradition and a story to tell, I think the category can grow nicely for years to come.Rosé is a style of wine that fits beautifully with how we tend to eat in the US, and I predict rosé consumption will expand from simply warmer-weather sipping to year-round. This expansion is already happening, but will continue.However, the market could shift if retailers become less discerning about their selection and allow marketing-driven rosés to become the majority of the set. If that comes to fruition, I predict the rosé market will peak in the next year or two and ultimately the top rosé-focused brands and the good producers will remain.By Kim BadenfortAdvertisement Facebook Home Wine Business Editorial Domestic Rosé Gaining Market Share from FrenchWine Business EditorialDomestic Rosé Gaining Market Share from FrenchBy Editor – May 21, 2018 380 0 Previous articleLot18 & AMC Launch Sales for New Female-Inspired “The Walking Dead” Wine CollectionNext articleRound Pond Estate Appoints Young’s Market Company to Represent Additional States in the Pacific Northwest Region Editorlast_img read more