Ford Takes $19.5 Billion Charge as EV Strategy Shifts Toward Hybrids 
SpaceX Begins IPO Preparations as Wall Street Banks Line Up for Advisory Roles 
Amazon in Talks to Invest $10 Billion in OpenAI as AI Firm Eyes $1 Trillion IPO Valuation 
FDA Says No Black Box Warning Planned for COVID-19 Vaccines Despite Safety Debate 
Apple Explores India for iPhone Chip Assembly as Manufacturing Push Accelerates 
SUPERFORTUNE Launches AI-Powered Mobile App, Expanding Beyond Web3 Into $392 Billion Metaphysics Market 
FAA Unveils Flight Plan 2026 to Strengthen Aviation Safety and Workforce Development 
Fortescue Expands Copper Portfolio With Full Takeover of Alta Copper 
Woolworths Faces Fresh Class Action Over Alleged Underpayments, Shares Slide 
Strategy Retains Nasdaq 100 Spot Amid Growing Scrutiny of Bitcoin Treasury Model 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Trump Sues BBC for Defamation Over Edited Capitol Riot Speech Clip 
Nvidia Weighs Expanding H200 AI Chip Production as China Demand Surges 
Robinhood Expands Sports Event Contracts With Player Performance Wagers 
United Airlines Tokyo-Bound Flight Returns to Dulles After Engine Failure 
United Airlines Flight to Tokyo Returns to Dulles After Engine Failure During Takeoff 
Blackstone Leads $400 Million Funding Round in Cyera at $9 Billion Valuation 
Shares of Treasury Wine Estates (ASX:TWE) fell sharply on Wednesday after the Australian wine giant warned of weaker near-term trading conditions in its two most important markets, the United States and China. The update rattled investors, sending the company’s Sydney-listed shares down as much as 17% to A$4.57, marking their lowest level since January 2015 and wiping significant value from its market capitalization.
Treasury Wine Estates said global wine category dynamics have softened in recent months, with demand conditions deteriorating more than previously expected. The company highlighted that any meaningful near-term recovery in the U.S. and China now appears unlikely, prompting management to flag substantial pressure on earnings in the first half of fiscal 2026. This outlook shift underscores the challenges facing premium wine producers amid changing consumer behavior, inventory imbalances, and distribution disruptions.
In response to the weaker demand environment, Treasury Wine announced plans to scale back shipment volumes to better align with lower depletion growth and to reduce elevated inventory levels held by customers in both the U.S. and China. The company forecast first-half fiscal 2026 earnings before interest and tax (EBIT) of between A$225 million and A$235 million, a steep decline from A$391.4 million reported in the same period last year. This earnings downgrade was a key driver behind the sharp sell-off in Treasury Wine Estates shares.
China remains a particular area of concern, with the company citing ongoing disruption from parallel imports that are undermining pricing for its flagship Penfolds brand. To address this issue, Treasury Wine said it would restrict shipments linked to parallel trade and reduce distributor inventories by approximately 0.4 million cases over a two-year period. In the U.S., weaker demand in California, combined with disruption caused by a distribution transition, has weighed on performance, with national depletions down year-to-date.
Adding to investor unease, Treasury Wine Estates also cancelled its on-market share buyback program of up to A$200 million, citing the need to preserve balance sheet flexibility. The company had completed A$30.5 million in buybacks earlier in the year. The decision highlights management’s cautious stance as it navigates challenging market conditions and seeks to protect long-term financial stability.
