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☆ UK bond turmoil leaves smaller pension schemes with longer-term costs
▼ + stars: | 2022-11-07 | by ( Carolyn Cohn | ) www.reuters.com time to read: +6 min

As pension funds scrambled for cash to meet margin calls, the Bank of England intervened to stabilise the market and avoid the collapse of some LDI-exposed funds. But pension schemes that could not meet margin calls in time - many of them smaller schemes - had their positions liquidated by LDI fund managers. Larger schemes in segregated funds were more likely to have retained their hedges, industry sources said. Large schemes in segregated funds pay lower fees for more volume - a benefit small schemes cannot enjoy. LDI fund managers BlackRock (BLK.N) and Insight Investment did not respond to requests for comment.

☆ Guy Fawkes Night: What those fireworks and bonfires are all about
▼ + stars: | 2022-11-05 | by ( Francesca Street | ) edition.cnn.com time to read: +11 min

CNN —Every year on November 5, skies across England, Scotland and Wales are illuminated by fireworks as Brits head out into the night to enjoy Guy Fawkes Night celebrations. Also called Fireworks Night or Bonfire Night, this autumn tradition has been a staple of the British calendar for the past 400 years. A photograph from 1955, depicting children at a school in Surrey, England, preparing the Guy Fawkes Night bonfire. What’s Guy Fawkes Night like today? Lewes Bonfire Night celebrationsEffigies of former UK prime minister Boris Johnson and fellow UK Conservative politician Jacob Rees-Mogg are paraded through the streets of Lewes during traditional Bonfire Night celebrations in 2019.

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☆ The new European vacation? Travelers are returning for trips that are all about food and wine
▼ + stars: | 2022-11-04 | by ( Lucy Handley | ) www.cnbc.com time to read: +9 min

Last year, the couple set up a tour company called Stay Awhile, which organizes trips "designed around food," according to the company's website. Guests taking part in Stay Awhile's French baking course visit the area to sample gourmet delicacies. A food tour of San SebastianPintxos are a staple in San Sebastian, one of the most popular places for foodies in Spain's Basque Country. It's not just doing a wine tour … it's a gourmet getaway," Stebbings told CNBC by phone. On a tour of the French Languedoc-Roussillon region, travelers can take a boat trip to an oyster farm off the coast of Montpellier.

☆ PETA: Animal rights organization criticizes trainer for parading racehorse in pub
▼ + stars: | 2022-11-02 | by ( Ben Church | ) edition.cnn.com time to read: +2 min

CNN —A leading animal rights organization has criticized an Irish racehorse trainer for parading his winning steed in a pub earlier this week. On Monday, John “Shark” Hanlon posted a video on Twitter of him leading US Grand National winner Hewick into a pub as part of the horse’s homecoming celebrations. Hewick had won the lucrative race – with a prize purse of $500,000 – in New Jersey on October 15 before returning to Ireland. The video shows Hanlon walking into the busy pub with the seven-year-old horse before customers fell quiet and started taking pictures. The horse is now demanding respect across Europe and is being lined up for some big races next year, including the UK Grand National and Cheltenham Gold Cup.

☆ Inside the $23 million mega-mansion that Yankee Candle built
▼ + stars: | 2022-11-01 | by ( Robert Frank | ) www.cnbc.com time to read: +5 min

It was built by Kittredge's father, Michael Kittredge II, who made his fortune as the founder of the Yankee Candle Company. Juggler Meadow is listed at nearly 10 times that amount, but is also a rare combination of space, amenities and sports facilities. Kittredge began making more, and in the early 1970s founded Yankee Candle Company. By the late 1990s, Yankee Candle had become the biggest scented candle company in the county. With the flood of cash and a non-compete clause that prevented him from launching another candle company for years, Kittredge built his dream life.

☆ Explainer: Drag queens and how they got pulled into politics
▼ + stars: | 2022-10-31 | by ( Associated Press | ) www.nbcnews.com time to read: +7 min

Opponents often coordinate protests at drag events that feature or cater to children, sometimes showing up with guns. Some politicians have proposed banning children from drag events and even criminally charging parents who take their kids to one. Is drag sexual? Many drag opponents cite nudity in their objections. Threats to drag events, and story hours in particular, have increased along with the rhetoric.

☆ A third of UK hospitality businesses could go bust, industry warns
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +2 min

LONDON, Oct 31 (Reuters) - Over a third of the UK's hospitality sector is at risk of going bust early next year due to soaring energy costs, rises in the cost of goods and falling consumer spending, according to a survey published on Monday. Hospitality represents 10% of UK employment, 6% of businesses and 5% of Gross Domestic Product (GDP), according to UKHospitality. The trade associations said continued uncertainty about rising inflation, future regulation and staffing is causing a crisis of confidence among business owners. "If urgent action isn't taken, it is looking incredibly likely that we will lose a significant chunk of Britain's iconic hospitality sector in the coming weeks and months," they said in a joint statement. Ahead of Hunt's fiscal statement on Nov. 17 they called for further business rates relief and a move to cut VAT sales tax for hospitality.

SEOUL, Oct 30 (Reuters) - With "Hooker Hill" and snaking alleyways of bars with signs like "BADASS" around the local landmark Hamilton Hotel, Seoul's Itaewon district was a symbol of freewheeling nightlife in the South Korean capital for decades, before tragedy struck. "This happened right at the moment when we were about to rebound after being hammered by the pandemic," said Lee, who has operated Itaewon businesses for three decades. A mysterious killing called the "Itaewon Murder" and other crimes in the late 1990s painted a dark image of the area. The district has been a recurrent theme in popular culture, with a recent hit drama "Itaewon Class" and K-pop song "Itaewon Freedom". They won't," said Park, who has run businesses in the district for nearly 30 years.

☆ I run a soccer club I bought with 6 friends as a teen. Here's how we turned it into a TikTok sensation.
▼ + stars: | 2022-10-27 | by ( Claire Turrell | ) www.businessinsider.com time to read: +9 min

Walton & Hersham FC traces its roots to 1895 and played at Wembley, but it had fallen on hard times. My first memory of football was when I was 5 and my dad took me to watch Walton & Hersham FC play AFC Wimbledon. One Saturday in 2018, I decided to take a break from my university studies and watch a Walton & Hersham FC match with my dad. Under the new owners, Walton & Hersham FC has been promoted twice. We're not on the same scale as "Welcome to Wrexham," but we recognized the financial anguish that comes with owning a football club.

☆ Drag story time at Oregon pub draws gun-carrying protesters
▼ + stars: | 2022-10-25 | by ( Associated Press | ) www.nbcnews.com time to read: +4 min

EUGENE, Ore. — Protesters, some of them armed, threw rocks and smoke grenades at each other outside a drag queen story time event at an Oregon pub, but the weekend show that was to have featured a child performer went on as planned. The nonprofit Drag Queen Story Hour was started in San Francisco in 2015 by activist and author Michelle Tea. As part of Drag Queen Story Hour’s programming, drag queens read to children and their parents at libraries, bookstores, fairs, parks and other public spaces to celebrate reading “through the glamorous art of drag.”Other drag events have also been in the headlines lately. Most recently, a half-hour “Drag Kids” program planned for the Boise Pride Festival generated national backlash and anonymous threats. Festival organizers envisioned a short performance where kids could put on sparkly dresses and lip-sync to songs like Kelly Clarkson’s “People Like Us” on stage.

☆ Suspicious packages, white powdery substances, and a 'swatting': Inside the threats federal judges are facing across the country
▼ + stars: | 2022-10-23 | by ( C. Ryan Barber | ) www.businessinsider.com time to read: +16 min

The US Marshals Service has been responding to a remarkable rise in threats against federal judges. At least three times this year, the federal court in Washington, DC, received suspicious packages. Arriving just months apart, the packages sent to DC's federal courthouse served as reminders of threats judges are increasingly facing across the country. Lawmakers have blamed Sen. Rand Paul, a Kentucky Republican, for blocking legislation to help protect federal judges. Greg Nash/AP ImagesCongressional solutionsCongress has approved additional funding for bolstering the security of federal judges.

☆ Analysis: World Cup could be nightmare before Christmas for Britain's supermarkets
▼ + stars: | 2022-10-19 | by ( James Davey | ) www.reuters.com time to read: +6 min

Retail executives say the World Cup, moved to the winter to avoid the intense Qatari summer temperatures, has totally thrown the algorithms they increasingly use to predict trading and plan their logistics. "It's also an executional headache, because right when you want to have everything Christmas out, you've got to somehow reflect slabs of booze and snacking for the World Cup," he said. During the last World Cup in July 2018, which coincided with a prolonged period of hot weather, shoppers visited UK supermarkets an extra 13 million times, according to market researcher Kantar. Of course, customers visiting stores to buy festive goods could buy in World Cup supplies at the same time. "It's not going to be as big as the summer World Cup, that is clear," said Fraser McKevitt, head of retail and consumer insight at Kantar.

☆ These 12 behind-the-scenes execs are innovating TikTok's surging ad business, which will soon be worth more than Snap's and Twitter's combined
▼ + stars: | 2022-10-13 | by ( Lindsay Rittenhouse | ) www.businessinsider.com time to read: +11 min

TikTok's ad revenue is expected to triple to $11.64 billion this year, and it's building out products aggressively to hit its goal. In fact, if TikTok's ad revenues triple to $11.64 billion this year from 2021, as Insider Intelligence predicts, it will surpass the combined ad revenues of Twitter and Snapchat combined. Gabriela Comazzetto, head of LATAM global business solutionsComazzetto, another Facebook poach, has been overseeing TikTok's ad business in one of its fastest growing regions for just over a year. Shant Oknayan, general manager of METAP global business solutionsOknayan manages the TikTok for Business platform for the METAP region. Sameer Singh, general manager of APAC global business solutionsSingh oversees the TikTok for Business platform across APAC.

☆ British pub operator Marston's annual sales rise above pre-pandemic levels
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +2 min

Oct 11 (Reuters) - British pub operator Marston's (MARS.L) said on Tuesday its annual retail sales rose above pre-pandemic levels, as people splurged on drinks more than food despite the worsening cost-of-living crisis. Pubs, restaurants and hotels in Britain, still recovering from pandemic restrictions, are now grappling with rising costs and lower consumer spending in the face of rising inflation. "We are managing cost inflation well with food, drink and energy costs covered for the immediate future," Chief Executive Officer Andrew Andrea said in a statement. Total retail sales for the year were 2% higher from 2019, with sales of drinks outperforming food because of hot weather during the summer, Marston's said. Marston's rivals Mitchells & Butlers (MAB.L) warned of tighter margins in its new financial year as costs rise, while Wetherspoon's (JDW.L) annual operating costs nearly doubled.

☆ British pub operator Marston's annual sales above pre-pandemic levels
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: 1 min

Oct 11 (Reuters) - British pub operator Marston's (MARS.L) said on Tuesday its annual total retail sales came in higher than 2019 numbers, as people continued to splurge on drinks and food despite the rapid cost-of-living crisis. Total retail sales for 2022 were 2% higher from 2019, with sales of drinks outperforming food, Marston's said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Radhika Anilkumar in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Britons turn to electric blankets and candles as winter looms
▼ + stars: | 2022-10-11 | by ( Sarah Young | ) www.reuters.com time to read: +4 min

Market research released on Tuesday showed that grocery inflation hit another new record of 13.9% in September, deepening the cost-of-living crisis, while BRC-KPMG data showed people were investing in items to help them save cash. Nine out of 10 people surveyed by Barclaycard in Britain from Sept. 23-26 said they were concerned about household energy bills. Over half of those surveyed by Barclaycard said they were planning to cut down on discretionary spending so they can afford their energy bills this winter, with nights out most likely to be canned. Rival JD Wetherspoon's said last week that its sales had been boosted by young people drinking cocktails and spirits. Coffee and sandwich chain Pret A Manger said on Tuesday that it would raise staff pay for a second time this year.

☆ UK stocks extend losses, BoE measures eyed to stem bond rout
▼ + stars: | 2022-10-11 | by ( Sruthi Shankar | ) www.reuters.com time to read: +3 min

Meanwhile, shares of pension providers such as Legal & General (LGEN.L), Prudential (PRU.L) and Aviva (AV.L) fell between 2.3% and 3.3%. UK's banking index (.FTNMX301010) was down 1.6% at a one-week low despite prospects of a large rate hike by the BoE next month. However, the internationally focussed FTSE 100 has outperformed UK's domestically exposed FTSE 250 (.FTMC) this year, as a weakening pound and strength in commodity prices boosted the former. The FTSE 100 has shed 6.8% so in 2022, while the midcap index has lost about 28% - set for its worst annual performance since 2008. Ukraine-focused miner Ferrexpo Plc (FXPO.L) fell 9.1%, as it temporarily suspended production after Russian missile attacks damaged state-owned electrical infrastructure.

“Tim Ryan is running the best Senate race in the country and having to do it all by his lonesome,” said Irene Lin, an Ohio-based Democratic strategist who managed Tom Nelson’s Senate primary campaign in Wisconsin this year. After losing two presidential campaigns and a race for governor in the state since 2016, national Democrats are wary about spending in Ohio, once a quintessential battleground. The barrage includes a spot attacking Ryan, who has portrayed himself as a moderate, as a party-line voter beholden to Senate Democratic Leader Chuck Schumer. Other national Democrats have tipped their hat to Ryan, noting how his moderate message has put the seat within striking distance, if not higher on the party’s list of priorities. “The national Democrats have walked away from Ohio prematurely,” Griffin said.

☆ Slots to smartphones: Pandemic sends Australia’s gambling problem online
▼ + stars: | 2022-09-29 | by ( ) www.nbcnews.com time to read: +5 min

Australia’s gambling industry has been in the spotlight in recent years, with public inquiries lashing its biggest casino operators due to lapses in money laundering protections. Online gambling has also been the focus of inquiries, but with its increasing prevalence, the government has answered consumer advocates with a pledge to take a deeper look. Australia overtook Britain, which has nearly three times its population, to rank third by online loss, behind the United States and Japan, said H2. The new center-left federal government this month said it will hold a parliamentary inquiry into online gambling, though some recommendations of a 2015 inquiry are yet to take effect. “At their fingertips they have 24-hour access to gambling online.

☆ British pub group Mitchells & Butlers warns on costs, shares drop
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Q4 LfL sales up 1.5% vs 2019Flags higher energy and utility costsShares down ~7%Sept 29 (Reuters) - Mitchells & Butlers (MAB.L) warned of tighter margins in its new financial year as costs rise, driving shares in the British pub operator to two-year lows. Energy and utility costs have risen to roughly 150 million pounds ($161.6 million) in the year ending September 2022, from 80 million pounds in the 2019 period, and could rise further next year, it said in a statement on Thursday. Shares in the company, which have nearly halved in value this year, fell nearly 7% to their lowest since Oct. 2020. read moreBritain has tried to ease the pressure of soaring energy costs, saying it would cap wholesale electricity and gas costs for businesses at less than half the market rate from the coming month until the end of March. Like-for-like sales were up 1.5% for the fourth quarter ended Sept. 24, against 2019 levels, amid rail strikes and extreme heat.

Online gambling has also been the focus of inquiries, but with its increasing prevalence, the government has answered consumer advocates with a pledge to take a deeper look. Australia overtook Britain, which has nearly three times its population, to rank third by online loss, behind the United States and Japan, said H2. The new centre-left federal government this month said it will hold a parliamentary inquiry into online gambling, though some recommendations of a 2015 inquiry are yet to take effect. "At their fingertips they have 24-hour access to gambling online. Wareham, the coffee technician, said he no longer uses poker machines and that family responsibilities help him control his online betting.

☆ Time-off policies are more generous than ever. So why does everyone feel more burned out than ever?
▼ + stars: | 2022-09-21 | by ( Molly Lipson | ) www.businessinsider.com time to read: +10 min

Nearly a fifth of respondents said they avoided taking vacation time for fear of being seen as not committed enough to their jobs. Many companies don't adjust their expectations based on their new leave policies and simply expect workers to cram in the same amount of work. When it was time to return to work, Paraskeva found herself unable to go in. The hypocrisy of time-off policies makes it clear that they seem to benefit the employer much more than workers themselves. By forcing people to pile on work before they leave and scramble once they return, companies are undercutting their supposedly generous time-off policies and making the workplace worse for everyone.

☆ World says goodbye to Britain's Queen Elizabeth from cafes and consulates
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +4 min

The hearse transporting the coffin of Britain's Queen Elizabeth drives near Royal Guards along Albert Road on the day of her state funeral and burial, in Windsor, Britain, September 19, 2022. And in Paris, France, bar owner Thibaud Dupont showed off his new tattoo of the monarch on his forearm. "She was not our queen, but she reigned over Britain for 70 years. "Her presence is literally everywhere," IT professional Victor Lai said outside the British Consulate General in Hong Kong, where people have queued for the past 10 days to sign a memorial book. In Bahrain, British expatriates paid tribute to Elizabeth at a service at St. Christopher's Cathedral in the capital Manama.

☆ TikTok just launched a major offensive to grab advertiser dollars — and these are the top 12 execs who are making the app a major competitor to YouTube and Meta
▼ + stars: | 2022-04-15 | by ( Lindsay Rittenhouse | ) www.businessinsider.com time to read: +11 min

TikTok's ad revenue is expected to triple to $11.64 billion this year, and it's been hiring aggressively to meet that goal. Chandlee spent 12 years at Facebook, where he managed global agency partnerships and client relationships, before joining TikTok in 2019. Monga came from Snap, where she led global agency partnerships and was involved in key presentations and pitches. Shant Oknayan, general manager of METAP global business solutionsOknayan manages the TikTok for Business platform for the METAP region. Sameer Singh, general manager of APAC global business solutionsSingh oversees the TikTok for Business platform across APAC.

☆ 3 Irish pub staffers on working during St. Patrick's Day madness: 'It's a party all night long'
▼ + stars: | 2022-03-18 | by ( Gabriela De Camargo Gonçalves | ) www.businessinsider.com time to read: +6 min

St. Patrick's Day is one of the busiest days of the year for pubs across the US. And local watering holes and businesses are busier than ever — especially on a day like St. Patrick's Day. You get to meet people from all over the world looking to celebrate St. Patrick's Day. St. Patrick's Day is a pretty wild day. The year before last, they didn't do a St. Patrick's Day celebration because they'd just shut down.

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