Fianancial reporting and analysis Essay Example | Topics and Well Written Essays - 1000 words

Fianancial reporting and analysis - Essay Example In 2011, the international accounting standard board revised the existing financial standards, and issued a new set of standard for purposes of reflecting the changes in global business practices, economies of the world, and markets. The new rules are, consolidated financial statement (IFRS 10), joint arrangements (IFRS 11), disclosure of interests other entities (IFRS 12), separate financial statements (IAS 27), and revised associates and joint ventures (IAS 28). The consolidated financial statement (IFRS 10) was created for purposes of outlining the presentations of a consolidated financial statement. This rule requires business organizations to consolidate the entities that are under their control, and this includes giving them the rights of variable returns, and the capability of affecting the returns acquired over an investee (ACCA, 2012). On this basis therefore, the rule was created to institute the values that will guide the preparation of consolidated financial statements wh en one business organization controls one or more business organizations (ACCA study text, 2011). This rule was created for purposes of defining the concept of control of a business entity, and as a basis of consolidation. It establishes the principles of identifying whether an investor has some level of control over an investee, and therefore consolidating the investee (ACCA, 2012). This standard has the following key requirements; 1. It requires business organizations that have an interest in other business organizations to conduct an assessment in order to determine whether control exists or not. 2. In order for a business organization to control another business organization, the following characteristics must be present, rights to the benefits of variable returns because of the involvement of the business entity with the investee, authority over the investee, the ability to influence the investee for purposes of benefiting the investor. 3. An investor must have substantive righ ts for purposes of giving him control of an investee and legitimacy to control some affairs of the organization. Joint arrangements on the other hand outline the accounting procedures that business organization that jointly control an entity ought to follow. There must be a contractual agreement that denotes the control of an entity by the business organizations in question. Media (2011) denotes that joint arrangements are of two types, namely joint operations, and ventures. In a joint venture, net assets and equity are accounted for, while in a joint operation, accountant’s factor in the obligation of liability, and right to access the assets by the business organization under collaboration (ACCA study text, 2011). On this basis therefore, the International Accounting Board established this standards for purposes of determining the nature of a joint arrangement business organizations engage in. This is to enable stakeholders gain the capability of analyzing the rights and ob ligations of these business entities under the joint arrangement. For a joint arrangement to exist, the following are the main requirements (Gray and Manson, 2012); 1. There must be prove of control of the organization by the business entity involved. 2. The concept of unanimous consent must be present, and this

Sorrow of Love Essay Example for Free

Sorrow of Love Essay In the rural south in the years 1880- 1995, women worked with the new hope that their sons and daughters would one day escape from the southern staple-crop economy, with its connected hardships and saddened opportunities. Maud Lee Bryant whom was a farm wife from North Carolina stated: â€Å"My main object of working was wanting the children to have a better way of living, that the world might be just a little better because the Lord had me here for something, and I tried to make good out of it, that was my aim†. Although in these woman’s words I find a great amount of pain, her strength is very visible. It is obvious that no matter how hard her life is, she tries to see her hardships as opportunities instead of feeling sorry for herself. A large amount of sharecroppers rarely stayed on the same plantation for more than a year or two for the reason being that their quest for household and group anatomy represented the tangible legacy of slavery. Although black families worked large amounts of hours they achieved neither consumer status nor total self-sufficiency due to the repressive labor system they worked for. It is right to say that black women were living a life of irony, although black women would pick cotton all day, they were never able to wear a cotton dress because of their low income and although they would work in agriculture as well, they barely survived on inadequate protein-deficient diets. Although blacks represented one-third of the southern population and 40 percent of its farmers and farm laborers, they were by no means the only penniless agricultural group. In 1910, nine-tenths of all southern black who made their living from the soil worked as tenants, sharecroppers, or contract laborers and most barely eked out enough in cotton to pay for rent, food, and supplies. During these years, a system by which a dominant group, whites, passed laws that were designed to humiliate a subordinate group, blacks, in public ways and in public places including: schools, parks, theaters, and public transportation. These new ideals of separation, combined with the systematic disfranchisement of black en, were enforced with state-sanctioned terrorism. By the late nineteenth century, whites of all classes had joined together to demonize black men as a group, and label all black women as immoral and sexually promiscuous. Between 1879 and 1881 as many as twenty thousand rural blacks fled the â€Å"young hell† of the lower South in search of the â€Å"promised land† of Kansas. The Kansas-fever exodus consisted primarily of families headed by former slaves desperate to escape neoslavery. Although granted relatively more overall freedom than their enslaved parents, black men and women in the late nineteenth century had only a limited ability to make crucial decisions related to household and farm management. A white employer controlled not only a family’s labor, but also its furnishings and food. In this book Jones offers a thorough analysis of black women, as the title suggests, from the times of slavery through to present day. The book was originally written in 1985 but the author updated the book and it was released in a second edition in 2009. I love studies that look at the intersection of various topics rather than examining one and ignoring the rest, because life doesn’t happen in a vacuum like that. Jones does that in a way that few do. This book is a true examination of race and gender, as well as class, and we study all of these as they interact with each other throughout the years. Starting with slavery Jones talks about how both black men and black women were affected, but she highlights the ways in which women experienced slavery in such a different manner. Throughout history, from slavery and until present day, women have been responsible for work in and outside of the home. In this way they do more than and experience different and additional issues to those of men. For example in the time of slavery women were usually expected to work as hard or almost as hard as men, but were also responsible for bearing and raising children, and keeping a home – cooking, sewing, cleaning, and more. White women, however, were not expected to do any work outside of the home at this time and also had the black slaves to help them in the house. For this reason examining history through the lens of only race or only gender does not give the true picture of life for black women. One of the themes that was highlighted most often through the book was that of family. Black women were forced to toil long hours for meager pay throughout history and until the present, and still expected to do most of the work at home as well. Jones talks about how work at home was prized and worth doing, often times, compared to work for whites, and how they would always try their best to find jobs with as much time with their family as they could.

Impact of Inflation on Chinas Economy

Impact of Inflation on Chinas Economy Chinese inflation is rising too fast But its had another major side effect. The Chinese economy is fast overheating. All that extra liquidity is driving up prices and wages, while property values have soared. In October, the official figures showed Chinas cost of living climbing by 4.4% year-on-year. That was the fastest increase in more than two years. And the situation may be rather worse than this. Two weeks ago a pundit at the Chinese Academy of Social Sciences, one of the governments top think tanks, said that by its own calculations the countrys consumer price index had been understated by more than 7% over the past five years. And last week the original Dr Doom, Marc Faber, said he reckons the real Chinese inflation rate is nearer 10% a year. Whatever the exact figures, theres no doubt inflation is rising far too fast for comfort for the authorities. The Chinese central bank has been trying to cool things down gently. Five times this year its raised bank reserve requirements, which reduces the amount that lenders can lend. Yet the credit brakes are being tapped, not slammed, says the FT. The government could be more aggressive. In other words, so far the tightening hasnt had much of an impact. The workforce is getting far stroppier than it once was. Between 2007 and 2008 the latest available data labour disputes more than doubled. Food prices are already rising at 10% year-on-year. The Xinhua news agency reported last week that a basket of 18 staple vegetables cost 62% more during the first ten days of November than in the same period last year. So higher wage demands are likely to become more frequent as most of the population lives close to the edge, says the FT. In fact, its starting to look like Chinas inflation problem has now got rather out of hand. This article is talking about the inflation occurring in China and the costs that it has brought to China. This inflation has caused severe consequences to China and we will be discussing the possible solutions inflation  is a rise in the general  level of prices  of goods and services in an  economy  over a period of time. When the general price level rises, each unit of currency buys fewer goods and services. Consequently, inflation also reflects an erosion in the  purchasing power  of money a loss of real value in the internal medium of exchange and unit of account in the economy. A chief measure of price inflation is the  inflation rate, the annualized percentage change in a general  price index  (normally the  Consumer Price Index) over time. Costs of inflation in China: When inflation rates are high, groups such as pensioners, households, dependent on social security benefits, stand lose to a great deal since they are often on fixed incomes. These Chinese will now be able to purchase less than before (less purchasing power), and will start to demand for higher wages. Only those with strong bargaining positions will be able to bid up for higher wages. In addition, people will be able to buy less food items than before which is a major issue because food is one of the basic necessities in human life, as in the article it has shown the the prices of food increase 10% year-to-year. Inflation causes an increase in interest rates and will therefore have a negative effect on investment and output, both of which will adversely affect employment, as in the article we can see that labour disputes have been doubled Higher inflation means that the businesses in China will have to change their prices to keep up to date on the price level. Inflation affects the foreign trade and the exchange rate. Experiencing high rates of inflation, Chinas domestic products will be less competitive internationally. As the domestic products prices increase the demand for these products will fall and therefore the demand for Chinas currency will also fall, thus affecting the exchange rate. The cause of inflation in China: The cause of inflation in Chinas economy was expansionary monetary policies and rising wages. The inflation in China was caused by cost-push inflation. It means that the cost of firms increase, in this case it is higher wages, and the firms are forced to raise prices inorder to cover the costs. Cost-push inflation If the economy demands higher wages, the higher costs of labour will shift the SRAS curve to the left from SRAS1 to SRAS2. The price level rises from P1 to P2. Higher wages increase consumption and therefore increases aggregate demand from AD0 to AD1. The increased spending (and possible expansionary policies) move the economy towards equilibrium at Yfe but at a higher price level. We have now a round of cost-push inflation. Solution: In the article, it has shown that Chinas government is trying its best to avoid this issue but it has been said that it hasnt had much of an impact. One of the possible ways of reducing inflation is by subsidizing businesses. The government can give out subsidies to business so that the businesses can reduce their costs of production. This will then encourage the businesses to lower their prices and thus avoiding inflation. The problem here is that the government will suffer a huge loss if there are many businesses to subsidize. Another possible solution is by appreciating its currency. This is because if it appreciates its currency then firms will be able to buy cheaper raw materials and therefore will have lower costs of production. Thus reducing prices of goods. It can appreciate its currency by using its foreign currency reserves to buy its own currency and this will increase the demand for its currency. Even though this method will help businesses to reduce their prices, there are also negative consequences.

The Diagnosis and Treatment of Bipolar Disorder Versus Unipolar Depress

The Diagnosis and Treatment of Bipolar Disorder Versus Unipolar Depression Bipolar disorder is a serious mental disorder, but unfortunately our collective knowledge of this mental illness is not extensive. Unlike depression, where patients are strictly sullen and deeply blue, the bipolar patient experiences that same depression only flanked by extreme highs—a hyperactivity and increase in serotonin. It is this inconsistency in mood—a clinical mood swinging, that makes bipolar disorder so difficult to diagnose. Difficulty, as will be discussed in the paper, comes from patients inability to recognize these highs as potentially troublesome, and instead opt to focus only on the depressed moods that follow. Conventional thought, after all, is not to worry or see a doctor should one suddenly have increased energy and enthusiasm. The result is a overwhelming understanding of other illnesses, but significantly less of bipolar, especially of these highs, or hypomanic episodes patients feel. This paper will first discuss bipolar disorder, its symptoms a nd prognosis. The errors in diagnosing bipolar disorder and how this leads to confusion surrounding treatments will also be discussed. An investigation in to the diagnosis and treatment of bipolar disorder will reveal a strong inconsistency in treatment stemming from lack of conclusive knowledge about the disorder. While many doctors suggest antidepressant use, while others will utilize lithium, and mood stabilizers, and in fact this range of treatments is in fact responsible for the lack of holistic understanding of the disorder as a chemo-physiological disease, but also as a separate entity from traditional, or what is often referred to as unipolar depression. According to the Americ... ... 11-20 Nemeroff CB, Evans DL et. al. (2001). Double-blind, placebo-controlled comparison of imipramine and paroxetine in the treatment of bipolar depression. American Journal of Psychiatry 158(6), 906-912 Post RM, Altshuler LL, Frye MA et al. (2001). Rate of switch in bipolar patients prospectively treated with second-generation antidepressants as augmentation to mood stabilizers. Bipolar Disorders, 3(5), 259-265. Post RM and Denicoff KD. (2003). Morbidity in 258 bipolar outpatients followed for 1 year with daily prospective ratings on the NIMH life chart method. Journal of Clinical Psychiatry, 64, 680-690 Rihmer Z. and Pestality P. (1999). Psychiatric Clinician of North America, 22, 667-673. Silverstone T (2001). Moclobemide vs. imipramine in bipolar depression: a multicentre double-blind clinical trial. Acta Psychiatrica Scandinavica, 104(2), 104-109.

Global Health

This is a reaction essay to Cholera in Sierra Leone: the case study of an outbreak retrieved from According to A. D. A. M. Medical Encyclopedia,â€Å"Cholera is an infection of the small intestine that causes a large amount of watery diarrhea. Cholera is caused by the bacterium Vibrio cholerae. The bacteria releases a toxin that causes increased release of water from cells in the intestines, which produces severe diarrhea (National Institute of Health ,U.S. National Library of Medicine – The World's Largest Medical Library,A. D. A. M. Medical Encyclopedia, May 30th 2012). † If left untreated, it can kill within hours and almost eighty percent of cases can be successfully treated with oral rehydration salts. People get infected by eating or drinking contaminated food and water and it usually manifests in places with poor sanitation, crowding, war, and famine like Africa, Asia, India, Mexico and South and Central America. The availability of safe drinking water and proper sanitation is critical in reducing the impact of cholera and other waterborne diseases.Oral cholera vaccine also reduces the risk of death by fifty percent . Sierra Leone, a West African country that has been ravaged by wars for years , experienced the worst Cholera outbreak in fifteen years. As of september 19th of this year, 19000 cases and 274 deaths have been reported. It was unusual for the Cholera outbreaks to occur in February , the middle of the dry season because most cholera outbreaks take place in the rainy season. At the onset of the cholera outbreak, the Ministry of Health and Sanitation, WHO , UNICEF and Medecins Sans Frontieres-Belgium worked together to detect, confirm ,treat and prevent the cholera outbreak .But when it started raining in June, cholera spread rapidly and by August, 2000 cases were reported per week. The Ministry of Health and Sanitation have also set up a network for all health centres to report daily cases of outbreaks and have been working with W HO and partners in spreading messages about safe drinking water, hand washing and food preparation. WHO has also brought in additional experts in epidemiology, surveillance, logistics, social mobilization, water and sanitation from other WHO country offices and set up a ‘ Cholera command and control centre’.Inspite of all these efforts, there is a severe shortage of oral rehydration salts and they are expecting 32 000 cases in this outbreak. * ————————————————- â€Å"? The health of a country is often based on infant and mother morbidity and mortality rates (GCH-205-DL2, Module 4, Lauren Savaglio). † In 2007, Sierra Leone had the highest level of child mortality in the world. Maternal mortality is also one of the highest in the world. One in eight women risk dying during pregnancy and childbirth. The infant mortality rate of Sierra Leone is 123 deaths p er 1000 live births in 2009 .Babies born in Sierra Leone in 2005 had a life expectancy of only 38 years. So it can be said that public health is generally poor in Sierra Leone. â€Å"Epidemiology is the study of the distribution and causes of health and illness in populations (Jacobsen,p. 7). † In the case of the cholera outbreak in Sierra Leone, the infections started in the western area of the country where the capital, Freetown, is located. Cholera outbreaks usually occur in the rainy season but the outbreak in Sierra Leone started in February which is in the middle of the dry month.According to World Health Organization, â€Å" Cholera is an extremely virulent disease. It affects both children and adults and can kill within hours. About 75% of people infected with V. cholerae do not develop any symptoms, although the bacteria are present in their faeces for 7–14 days after infection and are shed back into the environment, potentially infecting other people. Among people who develop symptoms, 80% have mild or moderate symptoms, while around 20% develop acute watery diarrhoea with severe dehydration. This can lead to death if untreated.People with low immunity – such as malnourished children or people living with HIV – are at a greater risk of death if infected (National Institute of health ,U. S. National Library of Medicine – The World's Largest Medical Library,A. D. A. M. Medical Encyclopedia, May 30th 2012). † Therefore the risk factors of transmission of Cholera in a developing country like Sierra Leone is very high since there is no adequate environmental management and no minimum requirements for clean drinking water and sanitation. Like Jacobsen states in the textbook, Introduction to Global Health, â€Å"†¦ eep in mind socioeconomic, political, behavioral, and environmental risk factors that contribute to creating the context in which the disease occurs(Jacobsen,p. 13). † * ——â€⠀Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- Since cholera causes dehydration, the disease is treated using oral rehydration therapy (ORT), which is basically a solution made with water, sugar and salts. They can be bought as prepackaged mixtures or can also be made at home by combining clean, boiled 1 litre of water with 8 teaspoons of sugar and 1 teaspoon of salt.But sometimes, severe cases of cholera require intravenous fluid replacement. Antibiotics can shorten illness, but should still be used in combination with the Oral Rehydration Therapy. The most basic way of preventing cholera is making sure communities prone to these epidemics have access to clean water and proper sanitation . Communities should also be educated about the importance of proper hygiene like hand-washing with soap after using the restroom and before cooking or eating . They should also be educated about safe handling , preparation and storage of food .Media such as radio, television or newspapers and even community and religious leaders can also be effective in spreading health education messages. And at times, early detection of the outbreak and timely provisions of treatment , like in the Sierra Leone case, is also necessary to reduce the number of deaths. * ————————————————- I think, at the onset of the outbreak, Sierra Leone’s Ministry of Health and Sanitation did a great job in working with the government and other health sectors to confirm the outbreak of the disease even though the country has very few resources and capacity.With the help of WHO, the Ministry of Health and Sanitation and partners including UNICEF and Medecins Sans Frontieres-Belgium was also able to detect, treat and prevent the spread of cholera. They also set up a â€Å" cholera command and control centre† and trained healt h workers in cholera treatment and prevention. They were successful in reducing the number of outbreaks to fewer than 40 per week but when the rainy season started in June, the epidemic spread rapidly to other districts and the number of cases arose to 2000 per week. But it should be noted that in Freetown, where the first outbreak occurred, there has been ignificant reduction of cases. WHO’s Representative in Sierra Leone, Dr Wondimagegnehu Alemu, states that many villages affected by the epidemic still face a shortage of Oral Rehydration Therapy solution, the most effective and life saving treatment for an outbreak like this. The cholera epidemic in Sierra Leone made me realize how health inequalities does exist between the poor and rich population and how â€Å" even with improved prevention and therapeutic techniques, infectious diseases continue to be health risk in all populations (Jacobsen,p. 1). † It is also evident that the Socioeconomic status (SES) of Sierra Leone has played a major role in the cause and prevention of this cholera epidemic. Like Dr. Alemu mentioned in the article, an outbreak like this is a â€Å"major crisis for a country with a fragile health system recovering from several years of conflict (Health topics:Cholera in Sierra Leone: the case study of an outbreak; World Health Organization, September 2012). But looking at the bright side, Dr Eugene Lam, epidemic intelligence service officer from the Centers for Disease Control and Prevention (USA) working for the Global Polio Eradication Initiative,states that â€Å" Messages about safe drinking water, hand washing and food preparation will not only reduce the cholera infections but also reduce all diarrhoeal disease, a big killer of children under-five in Sierra Leone (Health topics:Cholera in Sierra Leone: the case study of an outbreak; World Health Organization, September 2012). Jacobsen states in the preface to the textbook â€Å" If health is a human right, then basic health care and protection from preventable diseases should be available to all people , regardless of the condition that have made them vulnerable to illness, disability, and premature death (Jacobsen,preface xi). † I only hope one day by working together as a global community , we can make sure every single human being, irrespective of their socioeconomic status , can achieve a â€Å"state of complete physical, mental and social well- being (Jacobsen)†. * ————————————————- ————————————————- * ————————————————- References: * —————————————â€⠀Ã¢â‚¬â€Ã¢â‚¬â€- Health topics:Cholera in Sierra Leone: the case study of an outbreak; World Health Organization, September 2012. Retrieved from http://www. who. int/features/2012/cholera_sierra_leone/en/index. html on September 30th,2012. * ————————————————- National Institute of health ,U. S. National Library of Medicine – The World's Largest Medical Library,A. D. A. M. Medical Encyclopedia, May 30th 2012 . Retrieved from www. ncbi. nlm. nih. ov/pubmedhealth/PMH0001348/ on September 30th,2012 * ————————————————- * ————————————————- Health statistics of Sierra Leone;World Health Organization,2012. Retrieved from http://www. who. int/countries /sle/en/index. html on september 30th, 2012 . * ————————————————- * ————————————————- Introduction to Global Health, Kathryn H. Jacobsen . * ————————————————- * ————————————————- GCH-205-DL2 (FALL 2012), Module 4, Lauren Savaglio.

Moet and Chandon

Saturday, March 23, 13 The World’s most LOVED Champagne Saturday, March 23, 13 History & Background ?Part-holder of LVMH (66% share in M&C) ? Established in 1743 by Claude Moet – as Moet et Cie (Moet&Co. ) – for wine trading ? Began business in 1750 by supplying the Royal Court at Compiegne ? In 1750 also shipping to Germany, Spain, Eastern EU, and colonial British America ? In 1972, Jean-Remy Moet (grandson) has begin the winery production by buying vineyards; ? While the French Benedictine monk, Dom Perignon, mastered double-fermentation for creating champagne Now owns more than 2,500 acres vineyards ? Produce approx 26M bottles of champagne annually ? Accounts for approx 25% of global champagne market (by volume) Saturday, March 23, 13 LVMH brands Saturday, March 23, 13 Moet at a Glance ?4 Main Products ? Moet Imperial ? Rose Imperial ? Nectar Imperial ? Moet Ice Imperial ? Grand Vintage ?Plus other vintage and special limited-edition champagnes Saturday, Marc h 23, 13 Moet at a Glance ? In-media appearance ? Slogan: Be Fabulous ? Print ads ? of? cial website ? Facebook ? YouTube ? Twitter ? iOS applications Saturday, March 23, 13Moet at a Glance ? Marketing situation ? Perceived to be the most prominent brand in online world (partly due to extensive online advertising and Roger Federer) ? The biggest export market is UK but the consumption volume is slightly declining Saturday, March 23, 13 Strategy ? Glocal strategy – in 2011, began to grow grapes in Northwest China with farm operator Ningxia Nongken Will be China’s ? rst-time-ever made in China Champagne Aim to capture Asia market esp China and India – with joint venture approach Has done this for the U. S. for 30 yrs ald (sells in the U. S. nder brand Roederer Estate, Chandon) Grow business by encouraging younger audience to engage with the brand ? ? ? ? â€Å"In the Night† concept of brand communication (in cinema platform) using movie stars and reference for celebration To achieve â€Å"Champagne of Cinema† image, Moet appears in various hollywood movies and at international ? lm festivals, private dinners, parties and premieres Boost sports alignment via Roger Federer ? ? ? Saturday, March 23, 13 Main Competitors ?Veuve Cliquot et Ruinart (LVMH) ? Remy Cointreau (Piper-Heidsieck) ? BCC (Boizel Chanoine Champagne) ?Pernot-Ricard (Perrier-Jouet et Mumm) Saturday, March 23, 13 Key Persons Bernard Arnault (Bernard Jean Etienne Arnault) LVMH director Saturday, March 23, 13 Key Persons Stephane Baschiera, president and chief executive of Moet & Chandon (since Mar 2012) ? Stephane Baschiera joined Moet Hennessy, the wines and spirits division of LVMH, in 1996 and since then has been Commercial Director of Moet Hennessy Diageo France, Director of Moet Hennessy in Italy, and then Chief Executive Of? cer of the Maison Ruinart. ? Since 2009, he has held the position of Chief Executive Of? er of the Maison Veuve Cliquot Ponsardin, and h as contributed to the excellent performance of the Maison since that time. About Jean-Marc Lacave, former CEO Jean-Marc Lacave will become Chief Executive Of? cer of Veuve Clicquot Ponsardin. Jean-Marc Lacave joined the Watches & Jewelry division of the LVMH group in the United Kingdom in 2001. Since 2007 he has been Chief Executive Of? cer of Watches & Jewelry in Asia. Saturday, March 23, 13 Moet & Chandon Organization chart Saturday, March 23, 13 Hot Issues ? In Dec, 2012, Roger Federer became brand ambassador (in place of Scarlett Johansson, former BA signed in 2009) In Sept, 2013, will serve as the of? cial champagne of the 34th America’s Cup (sailing’s most prestigious international race) ? Signal tht M&C targeting at hi-so sports sectors – with concept Champagne of Victory ? In 2012, was analyzed to be loosing brand value (declined by 13% or ? over $500 million) – brand value at $3. 8 billion (98th rank – fall from 77th at $4. 3billion in 201 1) Might due to the emerging part of the world that do not yet associate champagne with celebration ? Recently opened White 1921, a boutique hotel in St. Tropez ? Recently launched celebrity-hosted tours worldwide Saturday, March 23, 13