What, it looks like the Australian wine industry could soon be in the spotlight with the Upper House expected to endorse some inquiries into the industry today.  Across fight –group, senators including Liberal, Nationals, Green and Independent Representatives are pushing for the plow. It would look into the way the industries regulated. The power of large retailers and the taxes apply to wine.

 

Let’s take at global financial markets, and at the close, US stocks declined for the second straight day, further retreating from those near high record levels we saw last week. The Dow lost more than 100 points. The Nasdaq is down at 1/3 of a percent. And the S&P 500 fell 0.6%. In Europe, London’s FTSE was unaffected by news of airline crash. It closed the day higher. Checking commodity prices, West Texas Crude is trading at 47 US dollars a barrel. Tapis Crude is trading at 57 US dollars a barrel. And gold is trading at 1193 US dollars an ounce. The Australian dollar is buying nearly 79 US cents, 72 euro cents and 53 pence sterling.