For most aficionados, a sparkling wine can be called champagne only if it comes from the region of France with that name and is made under certain regulations. A new Russian law makes the counter-claim that the word can be used only for Russian wine.
The law has sparked controversy and the renowned winemaker Moet-Hennessy said Monday it was suspending champagne shipments to Russia. The law that was adopted on Friday allows the term to used only for “Russian champagne.”
Since Soviet times, champagne — “shampanskoye” in Russian — has been used as a generic term for a wide range of sparling wines, some of which contradict champagne’s luxury image by selling for as little as 150 rubles ($2) a bottle.
“These provisions lead to a temporary suspension of deliveries of products to assess the impact of this new law,” Moet-Hennessy spokeswoman Anne Catherine Grimal said, according to state news agency RIA-Novosti.
Even the head of one of Russia’s major winemakers thinks the law goes too far.
”For me, there is no doubt that real champagne comes from the Champagne region in France,” Pavel Titov, president of Abrau-Dyurso, told RIA-Novosti. “It is very important to protect Russian wines in our market and provide them with comprehensive patronage. But the legislative measures taken must be reasonable and not contradict common sense.”
Surprise, surprise: tech is still the sector to watch, according to Karyn Cavanaugh, Chief Investment Officer at Carolinas Wealth Management. Learn how to properly diversify your portfolio.
Facebook and Instagram users will start seeing labels on AI-generated images in their feeds. Hopefully this will save time for everyone zooming in each picture to see how many fingers someone's hand has.
Seth Schachner, Managing Director at StratAmericas, weighs in on Spotify earnings and why that headline-grabbing deal with Joe Rogan could be worth that $250 million.
Mitch Roschelle, Managing Director at Madison Ventures, shares why investors may be waiting longer than expected for those interest rate cuts, and why he’s watching tech, oil, and homebuilder stocks.
Amazon saw 24% growth in their Thursday Night Football audience in 2023. Subscribers will be rewarded with even more sports, but not without enduring more ads — unless they pay extra, of course.
Low unemployment + 350 thousand new jobs in January = ...more layoffs? A bunch of tech and retail companies have laid and are laying off employees after a nationwide hiring surge during the pandemic.
The most magical place on Earth wants a protective order to keep Gov. Ron DeSantis' appointees from knowing how the magic happens. A federal judge dismissed a separate Disney lawsuit last week.