Australia’s biggest winemaker, Treasury Wine Estates, has written down about $450 million from its US portfolio, citing weaker demand and a cooling American wine market.

SACRAMENTO, Calif. — November 2025 — The state’s famed wine industry is undergoing a profound transformation. Growers across California are pulling out tens of thousands of acres of vineyards as they face a convergence of economic headwinds and environmental risks — including the growing threat of wildfires.

Vineyard Pullback: 40,000 Acres Planned for Removal

WASHINGTON, D.C. — November 5, 2025

The Supreme Court hears Trump v. V.O.S. Selections, Inc., a historic case testing whether the former president overstepped his authority by imposing sweeping global tariffs under emergency powers.