Profit warnings issued by UK businesses hits record high

first_img whatsapp “This time, companies face a unique set of additional challenges as they work to safeguard business continuity and the health of employees and customers. It is wise for companies to take a slow and steady approach to restarting operations that allows for flexibility, so they can react to continued uncertainty for some time to come.” (Getty Images) Also Read: Profit warnings issued by UK businesses hits record high “We know from previous crises that one of the biggest tests comes when companies need to reflate balance sheets, restock inventory and depend on supply chains that have been similarly tested,” Hudson said. The sectors issuing the highest number of profit warnings were those most exposed to the impact of national lockdowns, and in many cases were already showing signs of stress before the covid-19 crisis, the analysis said. Sunday 3 May 2020 2:50 pm Over a fifth of the UK’s quoted companies issued a profit warning in the first quarter, more than the percentage of companies warning in the whole of 2008 (17 per cent). Alan Hudson, UK head of restructuring at EY, said: “Political uncertainties and rapid structural change pushed UK profit warnings to a ten-year high in 2019. Covid-19 has created new problems, but it has also accelerated existing structural change and exacerbated existing weaknesses. (Getty Images) Also Read: Profit warnings issued by UK businesses hits record high “When lockdown lifts, it will undoubtedly ease some pressures, but these underlying issues will remain – alongside new challenges.” In January, recorded warnings had increased 43 per cent year-on-year, when compared to the same month last year. James Booth Profit warnings issued by UK-listed businesses reached a record-breaking high in the first three months of 2020 according to analysis published today. Big Four audit firm EY said there were 301 profit warnings between 1 January and 31 March, almost equal to the entire number issued in the whole of 2019 (313) and five per cent higher than the total for 2018 (287). Hudson said he expected the number of profit warnings to fall, but distress levels to rise as the UK moves out of lockdown. whatsapp Nearly eight-in-10 profit warnings in the first quarter blamed covid-19. Compared to the same period last year, warnings rose from 89, representing a 238 per cent year-on-year increase. Show Comments ▼ By percentage of companies warning, FTSE travel & leisure was the most dramatically affected, with 70 per cent of the sector issuing a profit warning, followed by industrial materials (63 per cent) and retailers (61 per cent). All but five of the 42 FTSE sectors tracked issued covid-19 related warnings in the quarter. Share Profit warnings issued by UK businesses hits record high (Getty Images) Also Read: Profit warnings issued by UK businesses hits record high However, EY said many companies were already struggling before the pandemic. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likezenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comUndoDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyUndoBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakerUndoMisterStoryWoman files for divorce after seeing this photoMisterStoryUndobonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comUndoNational Penny For Seniors7 Discounts Seniors Only Get If They AskNational Penny For SeniorsUndoNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyUndoBeach RaiderMom Belly Keeps Growing, Doctor Sees Scan And Calls CopsBeach RaiderUndoJustPerfact USAMan Decides to File for Divorce After Taking a Closer Look at This Photo!   JustPerfact USAUndo (Getty Images) More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orglast_img read more

Ed Balls defends “Milibrand” interview: “It’s what the young people call banter”

first_img Share Wednesday 29 April 2015 4:44 am Ed Balls defends “Milibrand” interview: “It’s what the young people call banter” Labour is still taking flack from the media for Ed Miliband’s decision to be interviewed by comedian Russell Brand with a sceptical John Humphreys grilling the Ed Balls on the Today programme over the wisdom of doing such an interview.The great inquisitor asked the shadow chancellor “isn’t it a bit demeaning for Ed Miliband to be interviewed by that great political philosopher Russell Brand?.” Balls stuck by his leader’s decision and said politicians are interviewed by all kinds of people. But this was Humphreys’ chance to strike and bring up an old war of words between Balls and Brand. The Radio 4 veteran said he suspected that no other interviewer had referred to Balls as a “clicky wristed snidey c***.” Balls responded to the insult at the time by calling Brand a “pound shop Ben Elton”.Labour’s shadow chancellor smiled bravely through the interview but couldn’t muster more than telling Humphreys the back and forth was “what the young people call banter”.“It’s what the young people call banter” – @edballsmp on his war of words with @rustyrockets pic.twitter.com/7kjPoG8FS0— BBC Radio 4 Today (@BBCr4today) April 29, 2015Yesterday was a special day for Ed Balls as it was the four-year anniversary of his finest tweet. On April 28, 2011, Ed Balls tweeted his name and gave birth to #EdBallsDay. Theories abound as to why the Labour big beast tweeted his own name but by far the most popular is that he was trying to search what people were saying about him on Twitter.Ed Balls hasn’t been the only politician on the receiving end of Brand’s ire. David Cameron on Tuesday called Russell Brand “a joke” and urged people to go to the polls and vote in the General Election. Brand took to Twitter to make it clear what he thought of the PM.Don’t be jealous Dave – I’ll run into you at West Ham – when you’re not busy with “ordinary people” pic.twitter.com/wB1Paq9xHV— Russell Brand (@rustyrockets) April 28, 2015  whatsapp Jeff Misenti whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunForbesThese 10 Colleges Have Produced The Most Billionaire AlumniForbesComedyAbandoned Submarines Floating Around the WorldComedyEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorOpulent ExpressHer Quadruplets Were Born Without A Hitch. Then Doctors Realized SomethingOpulent ExpressNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteabley Show Comments ▼ Tags: General Election 2015last_img read more

Standard & Poor’s slashes Volkswagen’s credit rating on emissions scandal

first_img Share whatsapp S&P said the move “reflect[s] our view that VW continues to face wide-ranging negative credit consequences” from the admissions scandal, during which it has admitted to installing “cheating” devices on 11 million cars which allowed engines to look more efficient than they actually were. “The downgrade reflects our assessment that VW has demonstrated material deficiencies in its management and governance and general risk management framework,” it said.”We believe VW’s internal controls have been shown to be inadequate in preventing or identifying alleged illegal behavior in the US and misconduct in other regions. We understand the software was installed in VW vehicles over a period of several years, in a number of vehicle brands and models, and appears to have been intended to deliberately mislead regulators, governments, and consumers.Our assessment of VW’s risk management framework includes our view of VW’s management of its material environmental and social risks. We believe that VW’s breach of U.S. environmental law and potential other laws outside the US represents a significant reputational and financial risk to VW over the medium term.” whatsapp Emma Haslett Monday 12 October 2015 3:04 pm Standard & Poor’s slashes Volkswagen’s credit rating on emissions scandal Show Comments ▼ More bad news for beleaguered car maker Volkswagen, after Standard & Poor’s lowered its credit rating, as well as its bank and financial services arms. In a statement today, S&P said it was lowering VW’s long- and short-term ratings to A/A-2, from A/A-1, and left its outlook at “negative”, taking the same action with VW Financial Services and VW Bank. More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInstitutional Investors Turn To Options to Bet Against AMCvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comWhite House Again Downplays Fourth Possible Coronvirus Checkvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comlast_img read more

Mutual fund sales pulled back in March

first_imgNet sales of long-term funds totalled $2.7 billion in March, while net redemptions of money market funds were $133 million.Balanced funds’ net sales in March totalled $1.4 billion, down from the February’s robust $4.5 billion.Bond funds’ net sales totalled $120 million compared to February’s net sales of $152 million.Equity funds’ net sales totalled $0.9 billion compared to net sales of $1.4 billion in Febrrary.Assets under management (AUM) for the Canadian mutual funds industry totalled $1.48 trillion in March, up $1.2 billion or 0.1% compared to February.Since March 2017, total mutual fund assets have increased by $91.1 billion or 6.5%.Monthly sales data are compiled from IFIC and other sources. Aggregate totals are provided by Toronto-based Strategic Insight. Net sales for Canada’s mutual funds industry in March were $2.6 billion, according to data published Friday by the Investment Funds Institute of Canada (IFIC).Sales were down compared to net sales of $7 billion for February, and net sales of $5.8 billion for March 2017. Mutual fund sales slump continued in November Keywords Fund salesCompanies Investment Funds Institute of Canada Canadian fund sales exceeded $23B in February Share this article and your comments with peers on social media IE Staff Mutual fund sales outpaced ETFs in September Businessman Checking Invoice With Calculator andreypopov/123RF Related news Facebook LinkedIn Twitterlast_img read more

Glorious Day for Jamaica as Bolt Glides to Another World Record Victory and Melaine Walker Jumps to Olympic Record Gold… Says PM Golding

first_imgFacebookTwitterWhatsAppEmail Prime Minister Golding has noted that once again two Jamaicans have made the country extremely proud – Usain Bolt with his World Record gold medal victory in the men’s 200m final and the Olympic Record gold medal by Melaine Walker in the 400m hurdles, just minutes ago in the Beijing Olympics.Mr. Golding said that both Bolt and Walker, have again demonstrated to the world that discipline, hard work and confidence, are the ingredients that will guarantee success in any endeavour, no matter how difficult or challenging the task.Usain Bolt has stamped his superiority on the world, sweeping us all along with him and taking Jamaica’s name to every nook and cranny of the globe. Melanie Walker, the former World Junior champion, shows the determination and endurance of the Jamaican woman – the depth and breadth of our athletic talent.Melaine Walker celebrates after winning the gold medal. (Photo credit: Jed Jacobsohn/Getty Images)The taste of success is what every Jamaican is enjoying right now. Let us savour the taste, bathe in its sweetness and let us transform that taste to all the other aspects of our life. Let us endeavour to ensure that when the world hears the name Jamaica, that our name becomes the symbol of all that is positive and uplifting’ Mr. Golding urged.As the Government embarks on a plan for a massive celebration to welcome home Jamaica’s successful athletes, Mr. Golding has called on all Jamaicans “to embrace the thought that we are no ordinary people and so only the extraordinary is expected to spring from us, as we use the fuel of the inspiration provided by our athletes, to funnel our dreams for a better Jamaica, despite all the challenges”.“Let us also celebrate with Usain, his 22nd birthday as it comes tomorrow. Happy birthday Usain! The world and Jamaica, celebrate your special day”, Mr. Golding concluded. RelatedGlorious Day for Jamaica as Bolt Glides to Another World Record Victory and Melaine Walker Jumps to Olympic Record Gold… Says PM Golding RelatedGlorious Day for Jamaica as Bolt Glides to Another World Record Victory and Melaine Walker Jumps to Olympic Record Gold… Says PM Golding Advertisementscenter_img Glorious Day for Jamaica as Bolt Glides to Another World Record Victory and Melaine Walker Jumps to Olympic Record Gold… Says PM Golding UncategorizedAugust 20, 2008 RelatedGlorious Day for Jamaica as Bolt Glides to Another World Record Victory and Melaine Walker Jumps to Olympic Record Gold… Says PM Goldinglast_img read more

Unemployment falls again to 6.3 per cent as job vacancies hit record level

first_imgUnemployment falls again to 6.3 per cent as job vacancies hit record level Today’s employment data from the Australian Bureau of Statistics (ABS) shows a 0.5 per cent fall in the unemployment rate to 6.3 per cent and that there are a record number of job vacancies with more than 19,300 jobs on offer in South Australia.Since January there have been 6100 jobs created in South Australian, unemployment has fallen from 7.1 per cent to 6.3 per cent and South Australians are working an additional 6.4 million per month.Since the peak of the COVID shock South Australia has created 37,900 additional jobs.“Today’s ABS statistics show there have never been more jobs vacancies in South Australia’s history, with opportunities for employment right across the economy,” said Minister for Innovation and Skills David Pisoni.“Many of those job vacancies are in the construction sector with an 11 per cent surge in dwelling unit commencements in South Australia during the December quarter resulting in a total of 3,089 individual commencements, 6.4 per cent higher than a year earlier.“The $2.7 billion pipeline of work in residential construction in South Australia is creating a wave of jobs in the residential construction sector.“I urge South Australians looking for work are being encouraged to consider a job in the building trade with the State’s residential construction sector driving strong employment growth for tradies, labourers and apprentices.“The Marshall Government’s Skilling South Australia program is investing $200 million in helping South Australians into apprenticeships and traineeships in the many industries searching for employees.“Since March 2018, there have been 37,400 apprentice and trainee commencements, of which 5,324 have been in the construction industry.“According to the ABS, total wages in South Australia in late-March 2021 were 4.2% higher than the pre-COVID level in March 2020 – the strongest result of the states and stronger than the national increase of 2.1%.“Since the dip in early April 2020, total wages in South Australia have increased by 11.8% – the second strongest growth rate of the states since the shock and stronger than the national increase of 10.5% since late-May 2020.” /Public News. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:ABS, AusPol, Australia, Australian, building, construction industry, Employees, employment, Government, industry, innovation, Minister, pipeline, SA Government, Skills, South Australia, statistics, unemploymentlast_img read more

Over 200 inmates at Larch Corrections Center test positive for COVID-19

first_imgOver 200 inmates at Larch Corrections Center test positive for COVID-19Posted by Chris BrownDate: Tuesday, January 5, 2021in: Newsshare 0 Inmates have been placed on restricted movement and testing is ongoing, the state’s Department of Corrections said MondayYACOLT — A COVID-19 outbreak at Larch Corrections Center has infected over 200 inmates, according to the Washington State Department of Corrections (WSDOC).Larch Corrections Center near Yacolt. Photo courtesy Washington State Department of CorrectionsLarch Corrections Center near Yacolt. Photo courtesy Washington State Department of CorrectionsOn Dec. 31, WSDOC said six inmates had tested positive at the facility near Yacolt. By Monday, the number had grown to 218, according to a departmental memo.The facility, which has a maximum inmate capacity of 480, said that inmates who had tested positive were being quarantined together to help limit the spread and address space concerns.Larch Superintendent James C. Miller said in a memo dated Dec. 30 that “we have reached a point in time in which we will have to take additional steps to limit the potential exposure of COVID-19 to the LCC incarcerated population.”A Dec. 30 memo from Larch Corrections Center Superintendent James C. Miller detailed the COVID-19 outbreak which has now grown to 218 inmates. Image courtesy Washington State Department of CorrectionsA Dec. 30 memo from Larch Corrections Center Superintendent James C. Miller detailed the COVID-19 outbreak which has now grown to 218 inmates. Image courtesy Washington State Department of CorrectionsThat includes moving to “Restricted Movement” status, limiting access to prisoner activities, call-outs, and other services. Regular testing was also planned, along with upgraded guidance for the use of personal protective equipment.“We understand that this pandemic and the changes in our procedures can be stressful for the incarcerated individuals and their loved ones,” Miller wrote. “On behalf of the entire staff of this facility, please know that every step taken is to ensure those under our jurisdiction are safe and healthy.”Larch Corrections Center, via Google Maps.Larch Corrections Center, via Google Maps.As of Jan. 4, WSDOC says a total of 4,894 inmates have tested positive, 1,792 of which are still considered active. That’s out of an average daily population statewide of 15,111. In addition, 863 prison staff have also tested positive.AdvertisementThis is placeholder textTags:Clark CountyCovid-19Department of CorrectionsincarceratedinmatesLarch Corrections CenterLatestnewsoutbreakWashingtonYacoltshare 0 Previous : Mountain View sets up outdoor workout stations for football players Next : WATCH: Clark County TODAY LIVE • Tuesday, January 5, 2021AdvertisementThis is placeholder textlast_img read more

CU-Boulder student treated for meningitis

first_imgShare Share via TwitterShare via FacebookShare via LinkedInShare via E-mail A 21-year-old female student at the University of Colorado Boulder was diagnosed late on Friday with meningococcal meningitis according to county and university health officials. The student, who is a junior living off campus, is in stable condition at Boulder Community Hospital.Boulder County Public Health officials are investigating the single case. No other cases of the disease have been confirmed by county or state officials at present.Meningococcal meningitis is a serious bacterial infection that causes infection of the tissue surrounding the brain and spinal cord. Meningococcal disease may be spread to others; however, this is uncommon.”Most of those CU community members who have had close contact with this student have already been contacted and offered treatment by Boulder County Public Health,” said Dr. Don Misch, CU-Boulder assistant vice chancellor for health and wellness.The risk to other people is minimal and is confined to those who have had close contact with the patient. Close contact includes kissing; sharing cigarettes, drinks, glasses or eating utensils; and being exposed to secretions from the nose or throat of the infected person.”Others, particularly undergraduate students who have never been vaccinated for meningococcal meningitis or have not been vaccinated in the past five years, should consider getting the vaccination,” Misch said. “On a university campus, those at greatest risk in general for meningococcal meningitis are students living in residence halls, so these individuals should especially consider vaccination at Wardenburg Health Center or from their personal health care provider.””Vaccination is the most effective way to protect against this severe disease,” said Murielle Romine, Boulder County Public Health communicable disease control program coordinator.Symptoms of meningococcal meningitis can include fever, severe headache, stiff neck, irritability, sleepiness, nausea, vomiting, rash, disorientation and confusion. A person may be infected for one to 10 days, and most commonly three to four days, before showing any symptoms.The last reported case of meningococcal meningitis at CU-Boulder was in March 2006. That student, a male, recovered fully.Those who are interested in getting the vaccination can go to Wardenburg Health Center from 8:30 to 11 a.m. and from 1:30 to 4 p.m. Monday through Friday.Wardenburg Health Center is open Monday through Thursday from 8 a.m. to 6 p.m., Friday from 8 a.m. to 5 p.m., and Saturday from 9 a.m. to 2 p.m.Parents of all incoming freshmen receive a letter during the summer with information about the recommendation for immunization.For more information on meningococcal meningitis and the vaccination, check the Wardenburg website at healthcenter.colorado.edu or www.BoulderCountyHealth.org, and click on Meningococcal Information. Published: Oct. 17, 2011 last_img read more

Candace Smith tapped for associate vice chancellor post

first_imgCategories:Deadlines & AnnouncementsCampus Community Candace SmithMelanie Marquez Parra Share Share via TwitterShare via FacebookShare via LinkedInShare via E-mail Strategic Relations and Communications (SRC) announced Candace Smith as its new associate vice chancellor for strategic communications, filling a key leadership position that had been vacant since July of 2019.  Smith has been serving as the assistant vice chancellor of strategic media relations since August of 2017.  Smith oversees efforts to advance CU Boulder’s reputation by gaining recognition of the research, work and achievements of its students, faculty and staff while managing crisis communications, executive and internal communications for the CU Boulder campus.“Candace brings decades of experience to CU Boulder and plays a key role as a leader in our communications efforts,” said Jon Leslie, senior associate vice chancellor of strategic communications. “In her short time at CU Boulder, and under extremely challenging circumstances, she has substantially increased media coverage, adeptly managed crisis communications, improved operations and elevated the profile of the campus.”  In her role, Smith manages executive and strategic communications, media relations, issues and crisis communications, major campus announcements and media partnerships for CU Boulder. In support of the move, SRC also appointed Melanie Marquez Parra as director of communications and chief spokesperson. It is shifting other staff roles to deepen support for key strategic communications needs for COVID-19, diversity and inclusion, Academic Affairs and Strategic Resources and Support priorities.   Smith previously worked in communications positions in Washington, D.C., New York, New Jersey and North Dakota, specifically in the fields of higher education, public transportation and journalism. Other achievements at CU Boulder include leading teams that won several 2019 Public Relations Society of America Colorado awards; partnering with national and local news organizations; and securing the hosting of the 2021 National Association of Science Writers Conference at CU Boulder in partnership with the CU Anschutz Medical Campus.“I am thrilled to have the opportunity to highlight the tremendous faculty, staff and students at CU Boulder and further raise our visibility in Colorado, across the country and around the world,” Smith said. “I am grateful I get to work with Jon and an outstanding team—both within SRC and across our campus and system–to showcase all that CU Boulder has to offer.” Published: Aug. 21, 2020 last_img read more

Madeira Wines Fetch Historic Prices at Auction

first_imgLinkedin Twitter Previous articleAfternoon Brief, December 19Next article3rd Annual CampoVelo Scheduled for April 26 – 28, 2019 Press Release Email Share ReddIt AdvertisementProceeds to be Used to Provide Handicap AccessMuseum to Establish Permanent Exhibition of Wines & Spirits in Conjunction with Cork AssociationNEW YORK, December 19, 2018 – The Liberty Hall Museum at Kean University auctioned off through Christie’s Auction House a portion of its collection of centuries old wines and spirits, raising funds to provide handicap access to the museum. The entire collection, discovered during a 2016 museum renovation, includes over 40 demijohns (wicker covered 5-gallon bottles) and 6 cases of Madeira dating back to 1796, and over 300 bottles of various spirits from the 1800s – all collected by the Kean family over their 185-year residence at Liberty Hall. The remainder of the collection will be used to establish a permanent exhibition entitled “History in a Bottle: the Kean Collection of Historic Wines & Spirits”, opening in Spring 2019.The highest price realized was for a demijohn of 1846 Madeira that sold for $39,000. Prior to the auction, the bottles were opened to be recorked and the wine was sampled and found to be in perfect condition, perfectly preserved under the 100+ year old original cork. New, custom made natural corks were provided by the Portuguese Cork Association, which worked with Christie’s and Madeira winemaker Francisco Albuquerque on the recorking, and which is partnering with the museum to establish the History in a Bottle exhibition.“The wines and spirits that were auctioned and will be exhibited in the museum are not just relics – inside is living history. The fact that we can taste today what our forebears tasted over 200 years ago is amazing, and we are proud that natural cork for centuries and even today plays such an important role in preserving wine and making this miracle possible. What’s more, Madeira is a product of Portugal and was the drink of choice of colonial and post-colonial America, making it all the more fitting that we at the Portuguese Cork Association be part of this wonderful project”, says João Rui Ferreira, President of the Association.“Our mission is to offer all museum visitors a journey through time as we recreate American history through the experiences of one iconic family. The auctioned items are a portion of a collection that will be part of the ‘History in a Bottle’ exhibition. The exhibition will help us fulfill our mission in a unique way – by connecting what graced this family’s table over time to changes in a dynamic and growing country”, said Bill Schroh, JR. Director of Museum Operations. “We were all nervous when they first opened the bottles, as we weren’t sure what we would find. But I guess the corks did their job and the auction proceeds prove that”.About APCOR:The Portuguese Cork Association (APCOR) exist to promote natural cork and its products. APCOR is the employers’ association of the cork sector that represents, promotes and carries out research in the Portuguese cork industry. It was created in 1956 and is based in Santa Maria de Lamas, in the council of Santa Maria da Feira, at the heart of the cork industry around 30 kilometers from Porto, Portugal’s second largest city. Membership of the association is open to all companies operating in the fields of production, marketing or export of cork products. The organization advocates on behalf of the Portuguese cork industry worldwide and is the driving force of an industry based on tradition, innovation and sustainability.About Liberty Hall Museum:Liberty Hall Museum, originally constructed in 1760, was built as a country getaway by the then prominent New York lawyer, William Livingston. Livingston would go on to serve in the First and Second Continental congresses, become New Jersey’s first elected governor and sign the United States Constitution. The Kean family was the second generation to live at Liberty Hall, taking over the original estate in 1811. Multiple generations of the Keans continued to live at the estate until 1995, while the home was designated a National Historic Landmark in 1973. The family has worked to preserve and enhance the estates invaluable character.Advertisement Home Industry News Releases Madeira Wines Fetch Historic Prices at AuctionIndustry News ReleasesWine BusinessMadeira Wines Fetch Historic Prices at AuctionBy Press Release – December 19, 2018 52 0 Facebook Pinterest TAGSAPCORConsumerLiberty Hall MuseumPortuguese Cork Association last_img read more