Chinese Winemakers Go High-End; Anheuser-Busch to Make More Beer with Less Water

After years of producing cheap, bad wine, Chinese winemakers are creating high-end offerings, catering to a an increasingly affluent and sophisticated Chinese consumer. [Wall Street Journal]

Christie's has announced it will auction Pablo Picasso's portrait, "The Absinthe Drinker," for between $45 million and $60 million: as good a reason as any to think about absinthe. [Washington Post]

The 1,500 bottles of Lloyd Flatt, the late eye-patch-wearing wine collector who had a penchant for big bottles, was sold to an Asian buyer for more than $1.18 million at auction. [MSNBC]

Warren Buffett's insurance and investment company has agreed to buy Kahn Ventures, a wholesale distributor of distilled spirits, wine, and beer in Georgia and North Carolina. [Reuters]

Analyzing the levels of radioactive carbon in a wine could help detect fakes. Since the last A-bomb tests in the 1960s, grapes carry harmless amounts of radioactive carbon. [Guardian]

Sherry-Lehmann is the first big New York wine store to come out in support of legislation that would allow grocery stores to sell wine. [Crain's]

A group of happy hour revelers in the city have participated in a yearlong alphabetical bar crawl, beginning at Arctica in Murray Hill and ending at Zanzibar in Midtown. [NY Times]

President Barack Obama sent Canadian Prime Minister Stephen Harper two cases of Yuengling to settle a bet over the Olympic hockey game in which Canada beat the U.S. 3-2. [Yahoo! News]

Anheuser-Busch InBev, the world's largest brewer, is planning to make more beer while reducing its water use by 30 percent by 2012. [NY Times]

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