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The UK hospitality sector is reeling from a triple whammy of rising costs, including increased minimum wage, business rates, and energy prices. This has put immense pressure on businesses, particularly pubs and hotels, to maintain profitability.Nick Evans, co-owner of the Old Crown Coaching Inn in Oxfordshire, exemplifies the struggles faced by many in the industry. Despite a rich history dating back to 1645, Evans is finding it challenging to make ends meet. The pub's annual revenue stands at £1.4m, but rising costs, including a £350,000 wage bill and £80,000 energy bill, are eating into profits.The latest blow to the industry came on April 1, with increases in the minimum wage and business rates. Evans notes that the wage bill will rise to nearly £370,000, and the business rates increase will add another £24,000 to the bill. This comes on top of surging energy prices due to the Iran crisis, which will further exacerbate the cost burden.Evans argues that the national insurance change is misogynistic, as it disincentivizes employers from hiring part-time workers, often mothers seeking extra income. He also believes that the minimum wage increase will price young people out of the market, as employers may opt to hire adults for a pound more.Kate Nicholls, chair of UK Hospitality, warns that one in five businesses fear they may not survive the next 12 months. She emphasizes that the sector cannot absorb any more cost increases, and hikes will simply be passed through to consumers, driving inflation and hitting jobs.For now, Evans and his co-owner, Mike Webb, are seeking a more lenient payment plan for their VAT bill from HMRC. As Evans says, 'It’s tough, tough, tough.' The future of many hospitality businesses hangs in the balance as they struggle to navigate these unprecedented challenges.

Paris Saint-Germain dominated Liverpool in the Champions League quarter-final first leg, securing a 2-0 victory at the Parc des Princes. The gulf in quality between the two teams was evident throughout the match, with PSG creating numerous scoring opportunities.The hosts took the lead through a fortunate deflected strike from Désiré Doué, which looped over Liverpool goalkeeper Giorgi Mamardashvili. The Georgian goalkeeper made a vital contribution to prevent further damage at halftime, producing a fine save to tip away a Khvicha Kvaratskhelia shot that was heading towards the bottom corner.PSG extended their advantage in superb style through Kvaratskhelia, who held off Liverpool midfielder Ryan Gravenberch, rounded Mamardashvili, and converted into an unguarded net. The win leaves Liverpool facing a tough task to overturn the deficit in the second leg.

Oil markets experienced a dramatic correction on Wednesday, with Brent crude falling 13.9% to $94.10 per barrel and U.S. WTI futures sliding almost 16% to $95, marking the steepest daily percentage drop since the COVID‑19 crash of April 2020. Despite the plunge, prices remain well above pre‑conflict levels, when Brent traded below $73.The price shock followed President Donald Trump's announcement of a two‑week, conditional ceasefire with Iran, contingent on Tehran reopening the strategic Strait of Hormuz for oil tankers. Iran’s foreign minister, Abbas Araghchi, confirmed the strait would be managed by the Iranian military during the grace period, while Iran’s national security council accepted the ceasefire on the condition that U.S. attacks be halted.Equity markets reacted positively. The pan‑European Stoxx 600 surged 4%, its biggest one‑day gain in over four years. In the UK, the FTSE 100 climbed nearly 3% to 10,646 points, its highest level since the early days of the Iran war. Travel and leisure stocks led the rally, with Air France up 14.5%, Lufthansa +11%, IAG +9.5% and TUI +12%.Oil majors were the notable laggards; BP and Shell each lost more than 5% as investors priced in continued supply uncertainty. Asian markets also posted strong gains: Japan’s Nikkei 225 rose over 5%, Australia’s S&P;/ASX 200 jumped 2.55%, South Korea’s Kospi surged 7.5%, Hong Kong’s Hang Seng added 3.1% and China’s CSI300 climbed 3.2%.Bond yields eased on the ceasefire news. The U.S. 10‑year Treasury yield fell to 4.24% from 4.30%, while the UK 10‑year gilt slipped to 4.7% from 4.9%.Safe‑haven assets rallied as well: gold rose more than 2% to $4,812 per ounce, and cryptocurrencies recovered, with Bitcoin up 2.9% to $71,327 and Ether gaining 5.6% to $2,234.Market strategists emphasized the provisional nature of the relief. Jim Reid, Deutsche Bank markets strategist, warned that “investors will be breathing a big sigh of relief, but the durability of the ceasefire remains the key risk.” He noted ongoing Israeli‑Iran strikes and unclear extensions to Lebanon could reignite volatility.Energy analyst Saul Kavonic (MST Financial) described the pause as “an off‑ramp for Trump’s bombastic ultimatum, but not yet an off‑ramp for oil markets or the war.” He expects a limited release of tankers from Hormuz in May, which would ease storage pressure without boosting production.Capital Economics chief economist Neil Shearing highlighted potential transit fees for Hormuz passage, estimating a $1‑2 million charge per tanker—equivalent to roughly $1 per barrel—would have a modest effect on global oil prices but could signal a de‑facto partial nationalisation of the route.TD Securities senior strategist Prashant Newnaha cautioned that “renewed escalation cannot be ruled out, but markets are treating this ceasefire as the real deal, and all parties will sell it as a major win.” He added that oil prices are unlikely to revert to pre‑war levels, keeping inflationary pressures alive.Earlier in the week, U.S. equities swung sharply, with the S&P; 500 dipping 1.2% before rebounding after Pakistan’s prime minister urged Trump to extend the deadline and keep the strait open.The conflict, which began after the U.S. and Israel struck Iranian targets in late February, has choked the Strait of Hormuz—through which about 20% of global oil and LNG supplies flow—fueling a worldwide energy crunch.

Arthur Rosenfeld, 73, and Meryl Tankard, 70, open the performance by introducing themselves as “sprightly old geezers,” setting a tone of candid humor that runs through the evening. The production, ‘Kontakthof – Echoes of 78,’ is a fresh staging of Pina Bausch’s iconic 1978 work, now re‑imagined by Australian choreographer Meryl Tankard. Unlike the 2010 London run that split the piece between teenagers and senior amateurs, this rendition features the eight surviving members of the original cast—all now in their late sixties to early eighties—performing the very roles they created half a century ago. A ninth dancer was absent due to illness. Their live movements are mirrored on a large screen by the black‑and‑white film of the 1978 performance, creating a visual palimpsest where past and present dance together. The choreography, set to 1930s dance‑hall songs, remains a wry commentary on courtship, power dynamics and consent. Tankard’s direction emphasizes the passage of time, allowing audiences to witness the same steps executed by bodies that have aged, yet retain a striking vitality. Dancers such as Josephine Ann Endicott, now in her seventies, glide across the stage in silk dresses, their frames more fragile but their confidence undiminished. Moments of poignancy arise when the film shows cast members who have since passed away. Onstage, John Giffin reaches for his late partner’s face, only to grasp empty air—a visual metaphor for loss that resonated deeply with the audience. Personal revelations punctuate the performance: Beatrice Libonati, 71, describes herself as “paranoid and a misanthrope,” while Tankard admits, “I wish I’d had children; I miss my mother every day,” underscoring the undercurrent of longing that runs through the piece. Beyond its narrative, the production offers a meditation on continuity. Bausch’s signature walking patterns—slow circles and linear traverses—are repeated, suggesting that despite changing bodies, the human species continues to tread familiar social routes. The music, unchanged from the original, carries on until the final dancer pauses, symbolising the inevitable end of the dance of life. The show runs at Sadler’s Wells, London through 11 April, offering a rare glimpse into how art can bridge generations and celebrate the endurance of the human spirit.

The US seafood industry is tackling a significant challenge: Americans' low fish consumption. With an average annual intake of about 19lb per person, the US lags far behind the global average of 45lb. In contrast, Iceland leads the world with an impressive 200lb of seafood per person per year.To crack the US market, the seafood industry has devised a strategy to make fish more appealing by making it look like meat. This approach involves creating products such as tuna that resembles chicken nuggets and salmon sticks that look like beef jerky. This tactic is similar to hiding vegetables in recipes for picky toddlers, but with a twist: it's about presentation rather than altering the product's nature.This isn't a new concept, as plant-based meat gained popularity when placed in the meat department rather than the vegetarian aisle. Similarly, fish-as-meat marketing has been around with products like tuna steaks and salmon burgers. However, the trend seems to be gaining momentum, with recent reports from the Seafood Expo circuit indicating a surge in interest.While this strategy may be effective, its environmental implications are questionable. With 348 million people in the US potentially increasing their seafood consumption, concerns about overfishing and the collapse of marine life arise. Guardian columnist George Monbiot has argued that there are almost no fish or shellfish that can be safely eaten if the goal is to save the oceans, suggesting that stopping fish consumption is a more impactful action.The success of this strategy may also be influenced by economic factors, such as food inflation and tariffs. If supply chains collapse due to global conflicts, the demand for Fishy Meat may become irrelevant as Americans struggle to afford basic food items.

The recent UN General Assembly resolution, led by Ghana, has made a significant statement by declaring the transatlantic slave trade 'the gravest crime against humanity'. Adopted with 123 votes in favor, 3 against, and 52 abstentions, this resolution urges steps including formal apologies, reparatory justice, and the return of looted cultural property.The voting pattern revealed a stark divide, with much of Africa, the Caribbean, and the global south supporting the resolution as a moral imperative. In contrast, Western countries, including the US, Israel, and Argentina, which voted against it, and the UK and EU member states, which abstained, reacted as if acknowledgment itself were a threat to their comfort.Ghanaian President John Dramani Mahama emphasized that the resolution is 'a pathway to healing and reparative justice' and 'a safeguard against forgetting'. The resolution aims to establish, at the highest level, a crime whose scale, brutality, and enduring consequences continue to structure the present.The backlash against the resolution has been revealing, with objections from Britain and the EU framed in terms of legal caution. They argued that the resolution creates a 'hierarchy of historical atrocities' and that the slave trade was not prohibited by international law at the time. However, this stance is seen as a way to avoid confronting the world-making role of transatlantic slavery.The Caribbean Community (Caricom)'s 10-point plan for reparatory justice is crucial in this context. For over a decade, Caricom has insisted that reparatory justice is not merely about writing cheques but about linking formal apologies to development, public health, education, and other areas. The UN resolution is seen as a first step in creating political and moral architecture for reparations claims.The fear of Western countries is not of rhetoric but of precedent. Once the slave trade is officially recognized as foundational and still alive in its consequences, questions about debt, underdevelopment, museum collections, and trade structures inevitably follow. The resolution has exposed who wants the wealth from slavery to remain history's most profitable amnesia.

Bill Ackman's Pershing Square has unveiled a €55.75 bn cash‑and‑shares bid to acquire Universal Music Group (UMG), valuing the label at €30.40 per share – a 78% premium over the previous close of €17.10. The proposal translates to roughly $64.31 bn, positioning it as one of the largest recent takeovers in the entertainment sector. The offer is tied to a strategic plan to relocate UMG’s primary listing from Amsterdam to New York. A U.S. listing would broaden the investor base, potentially attracting index funds and enhancing liquidity, which Ackman argues could lift earnings and drive a higher market valuation. In a letter to UMG’s board, Ackman praised chairman‑CEO Lucian Grainge while criticizing what he described as an “underutilized balance sheet” and the company’s €2.7 bn investment in Spotify Technology. He suggested that a refreshed governance structure – including former Hollywood super‑agent Michael Ovitz as board chair and two Pershing Square directors – would better position the label for future growth. Market reaction was immediate: UMG shares jumped 13% on the news, while Bollore Group’s stock rose 5% and Vivendi’s shares climbed over 10%. Pershing Square currently holds a 4.7% stake in UMG, making it the fourth‑largest shareholder. Key shareholders whose support is essential include Bollore Group (18.5% stake), Vivendi (13.4%), and China’s Tencent. Notably, the Bollore family controls about 80% of UMG’s voting rights, giving it decisive influence over any transaction. Industry analysts point to several headwinds that have pressured UMG’s share price, which has fallen nearly one‑third since its 2021 IPO. Streaming growth is decelerating, and concerns about AI‑generated music – from copyright disputes to fully synthetic songs – are reshaping the competitive landscape. A recent survey found that 97% of listeners can differentiate between AI‑created tracks and human‑composed music. Despite these challenges, global music revenues continue to rise year over year, prompting major labels such as Sony and Warner Music to double‑down on streaming partnerships with platforms like Spotify, Amazon, Apple and Deezer. Under the proposed structure, Pershing’s SPARC Holdings would merge with UMG, creating a Nevada‑incorporated entity listed on the New York Stock Exchange. If approved, the deal could set a precedent for how legacy entertainment firms adapt to evolving technology and investor expectations.

Bayern Munich took a slender lead into the second leg of their Champions League quarterfinal against Real Madrid after a thrilling 2-1 win at the Bernabeu. Harry Kane and Luis Diaz scored the goals for the German champions, while Kylian Mbappe netted a late consolation for Real Madrid.The match lived up to its billing as a European classic, with both teams creating numerous chances. Bayern dominated the first half, with Konrad Laimer's rasping effort narrowly missing the target. The German champions should have taken the lead through Dayot Upamecano, but he fluffed his lines from point-blank range.Bayern's opening goal came through slick combination play, with Gnabry exchanging a one-two with Kane and pushing the ball in behind for Diaz to stroke home past Andriy Lunin in the 41st minute. Kane doubled Bayern's lead less than a minute into the second half, fizzing a curling effort into the bottom corner.Mbappe kept Real Madrid in the tie with a 74th-minute goal, smashing home off the crossbar after a low cross from Trent Alexander-Arnold. Despite the late goal, Bayern take a narrow lead into the second leg.Harry Kane told TNT Sports that he was delighted with the victory, saying: 'We played some really good stuff today, for sure. Some areas we could have done better as well, maybe the final ball and the final finish, we had some good chances there.'Real Madrid defender Antonio Rudiger lamented his side's defensive errors, saying: 'We came out after half-time and screwed up again; both goals we conceded were gifts.'

The metal music scene has witnessed a surge in popularity of masked bands, with many notable acts donning elaborate masks as part of their stage presence. This trend is not only visually striking but also allows the bands to create a sense of mystery and anonymity. For bands like Imperial Triumphant, Gaerea, Sleep Token, Ghost, and Gwar, their masks have become an integral part of their image and artistry.Imperial Triumphant, an avant-garde metal band from the US, chose to wear striking gold masks modeled after 1920s art deco architecture. These masks brought their own set of problems, including getting lost in transit. The band's singer/guitarist, Zachary Ezrin, notes that the masks add a layer of complexity to their music, allowing them to tap into different parts of their personalities.Gaerea, a Portuguese black metal band, has also adopted the trend of wearing masks. Lead singer Alpha notes that the mask allows him to get into a different mode in his psyche, similar to how athletes get into a trance-like state during intense physical activity. The band's masks are not just for show; they also help to create a sense of anonymity, allowing the band to focus on their music rather than their individual identities.The use of masks in metal music is not a new phenomenon. Bands like Gwar and Slipknot have been using masks for decades, and their influence can be seen in many modern metal bands. However, the current trend of masked bands goes beyond just shock value; it's about creating a sense of mystery and artistry.The masks also allow bands to create elaborate mythologies and universes that fans can engage with. For example, Ghost poses as a subversive, devil-worshipping church, while Sleep Token's songs are ostensibly about their devotion to a god called Sleep. These mythologies help to create a sense of depth and complexity, drawing fans into the band's world.Despite the challenges of performing in masks, many bands find that it allows them to access new parts of their personalities and create a more immersive experience for their fans. As Ezrin notes, "I love the presentation of Imperial Triumphant... Even in 2026, when there are a million masked bands out there, I'd say we're still unique."