A global wine shortage. Thanks to rising consumption — especially in the U.S. and China — and a falling number of acres “under vine” (i.e.: producing grapes), drinkers last year consumed over 300 million more cases of wine than vintners produced. In the not too distant future, there simply may not be enough supply to meet demand.
• To hear the titans of Wall Street tell it, deregulating their industry would be the best way to create more jobs and make America prosperous again. Not so, says new research from a pair of University of Maryland economists: In fact, the less we regulate the financial sector, the more money it sucks out of the pockets of ordinary working Americans. Their paper provides convincing mathematical evidence that leaving big banks unchecked hurts workers in the “real economy” of goods and services.
• Apple (AAPL) has every reason to want its faithful fans to snap up new iPhone 5Ss and 5Cs. But is it possible that Apple is subtly sabotaging older iPhones to induce customers to upgrade? A New York Times reporter whose “sluggish” iPhone 4 was also running out of battery a lot faster than it once had did a bit of digging, and here’s what he learned: The new iOS 7 software is making older models run like molasses, and draining their batteries more quickly.
• And finally, a story from the “love and money” files. A Colorado man claims he converted his $500,000 life savings into gold, and then threw it all away — literally, into a dumpster — to avoid letting his wife of 25 years get any of it in their pending divorce.