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The price of wine is going up.Global wine production slumped to its lowest level in 60 years in 2017, according to data from the International Organisation of Vine and Wine.The most recent harvest produced 25 billion liters of wine, a decrease from 26.7 billion in 2016 and 27.6 billion in 2015. The decline was driven by weak harvests in key markets including Europe and South Africa.The shortage has caused the wholesale price of basic wine in Italy to skyrocket 74% over the previous year, according to the European Commission. Prices are up 45% in Spain and over 10% in France.Analysts said that producers, dealers and retailers will absorb some of the price hikes, but consumers will end up paying more -- especially for cheaper bottles."The wine companies that are targeting very low prices ... will be hit the worst, because their margins are very low," said Stephen Rannekleiv, a global beverages strategist at Rabobank. "When prices go up, it puts a lot of strain on them."Reduced supply will also hurt quality."There will be, in some cases, lower quality wines getting blended into slightly higher value products, so everyone kind of goes down a tier in quality," said Rannekleiv.Producers were hardest hit in Europe, where heavy hailstorms and harsh frosts damaged vineyards in early 2017 before a summer drought took its toll. The continent accounts for 65% of global wine production, and 57% of consumption.European production dropped 15% in 2017. Production fell 21% in Italy, 18% in France and 15% in Spain, according to the Commission.Other regions had problems, too.Wildfires destroyed or tainted some of the harvest in California, and drought harmed vineyards in South Africa. Warm weather can cause grapes to ripen early and be smaller in size.Rannekleiv said the result was a global harvest that was even worse than analysts had feared. The pain could spread to other industries.Rannekleiv said the slump in production means there will be less wine to divert for use in other products. Brandy and vinegar makers could be hurt, for example. 2067

The last several months for working parents with small children has been an interesting juggling act, to say the least. Now, toy maker Fisher-Price has rolled out new “mini-me” role playing items that turn our reality into playtime.As parents and caregivers fire up their laptop and enjoy a coffee drink, picked up curbside without face-to-face contact, children can play along with the “My Home Office” set.The set includes a laptop, headset for video conferencing, a coffee cup, and a cell phone with four “apps.” What parent wouldn’t want to swap phones with their child when it has dogs and cats on conference calls? 628

The main "Fast and Furious" franchise is reportedly coming to an end.According to Variety, Justin Lin will direct the final two installments in the series. Lin directed the third, fourth, fifth, sixth, and ninth "Fast and Furious" films.No official word yet on when the 10th and 11th films would be released.Deadline reports that the latest installment, titled "F-9" is set to debut next Memorial Day.The main storyline follows Dominic Toretto, who's played by Vin Diesel, and his family of fellow car-enthusiasts-turned-hijackers.The franchise has spanned over 20 years and is Universal's highest-grossing movie series in its history, Deadline reported.According to Entertainment Weekly, Universal Studios plans to make more spin-off movies based on characters from the prominent films. 795

The large brawl at the Cambria is now code 4. 2 have been arrested and 2 transported to the hospital with non-life threatening injuries. The investigation is continuing. pic.twitter.com/KRLqlJ6xMS— Anaheim PD (@AnaheimPD) August 5, 2020 244

The job market keeps pumping out jobs.The unemployment rate fell to 3.9 percent and the economy added 157,000 jobs in July, the Labor Department said Friday.But workers' average hourly paychecks grew tepidly from the previous month and are up just 2.7 percent compared to the same time last year. During previous expansions, wages have grown at a faster pace. Economists' maintain that wages will rise as economy drains remaining slack from the labor market and businesses' pay more to retain workers.Related: How the US economoy is doing now in four charts"With inflation running at a roughly 2 percent rate, that means that there's not a lot of financial wiggle room for many Americans," said Mark Hamrick, Bankrate.com's senior economic analyst. Economists will get another update on inflation next week when consumer and producer price indexes' are released.A quirk in the calendar may explain why average hourly wages inched up only 7 cents from June to July, explained Josh Wright, chief economist at software firm iCIMS: The Labor Department surveys employers at a different time than when companies pay their workers.On the bright side, the hiring spree has continued as the economy marches along. The economy grew at 4.1 percent during the second quarter, its fastest place in nearly four years.Related: US economy grows at fastest paces since 2014In a statement on Wednesday, the Federal Reserve described a healthy picture of the US economy."Job gains have been strong, on average, in recent months, and the unemployment rate has stayed low," the Fed said. "Household spending and business fixed investment have grown strongly."Although the July hiring number fell below economists' expectations, the government revised the previous months' job gains by an additional 59,000. With revisions, job gains have averaged 224,000 a month over the past three months.So far this year, job growth has averaged 215,000 per month, above last year's pace of 182,000, noted PNC chief economist Gus Faucher.Last month, the manufacturing sector added 37,000 jobs. Economists were watching manufacturing closely for signs of a drag from the Trump administration's escalation of trade tensions with China and allies."It appears to be that the strength of fiscal stimulus measures are outweighing any kind of effect of trade tensions," said Wright from iCIMS.The retail sector also added 7,000 jobs, despite 32,000 jobs lost in sporting goods, hobby, book, music and toy stores.Despite many businesses' trouble finding qualified workers, they are still hiring and looking outside traditional pools for talent.That's good news for workers without a high school degree and those without a college degree. The unemployment rate ticked down for both groups last month."This is not a labor market in which you're going to get your wish list candidate," Wright said. "The question is, 'Can you hire someone who's good enough?'"The-CNN-Wire 2934

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