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Activists from Animal Rebellion, a group promoting plant-based eating, occupied a restaurant owned by three-Michelin-star chef Gordon Ramsay in London on Saturday night.

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These activists, who Animal Rebellion said numbered fourteen, sat at tables set aside for customers and held up “fictitious menus” that advertised the environmental cost of the food on the menu, the group explained in a press release.

“Among the dishes we find veal and steak, which are among the foods with the largest carbon footprint and which require the most land for farming,” Animal Rebellion said.

The restaurant was forced to close earlier on Saturday night as activists refused to leave.

It was “the perfect example” of inequality in the UK, criticized Lucia Alexander, a 39-year-old nurse who helped staff the restaurant.

“While Gordon Ramsay is serving meals costing at least £155 (178 euros) per person, more than two million people are relying on food banks due to this cost of living crisis,” she said.

“Instead of the colossal profits that restaurants make at the expense of animals, workers and our climate, we should feed everyone by helping farmers and fishermen transition to a plant-based food system,” she said.

A restaurant spokeswoman criticized the “deeply disrespectful” action.

“Everyone is entitled to their opinions and beliefs,” she said. “But breaking into a restaurant, disturbing busy staff and spoiling the evening of customers who have been waiting for their reservation for months is incredibly inappropriate,” she said.

Amazon founder Jeff Bezos has warned consumers and businesses to put off big purchases during the holiday season in anticipation of an economic recession.

In an interview with CNN, he advised consumers to keep their cash safe and avoid unnecessary spending.

Due to recession fears, he advised Americans to avoid buying high-priced items like expensive cars and televisions.

“Take some risk off the table, have some dry powder ready… Just a little risk mitigation could make all the difference for this small business if we run into even more serious economic problems.” You have to play with the odds a bit,” Bezoz was quoted as saying.

“If you’re an individual considering buying a big-screen TV, you might want to wait, keep your money and see what happens. The same goes for a new car, fridge or whatever. Just remove some risk from the equation,” he added.

In the same interview, the Amazon founder said he would donate most of his $124 billion net worth to charities dedicated to fighting climate change and supporting people who can unite humanity.

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For travelers preparing for their first vacation trips since before the pandemic, prepare for sticker shock.

Airfares are high. Gas prices in the US are at their highest this time of year. Hotel room and rental car prices are up 12% and 46%, respectively, from 2019.

The good news is that prices for airline tickets, gas and hotel rooms have fallen below record highs set in early 2022, but are still among the highest on record for this time of year. Only car rental prices are lower than what travelers were paying late last year, although they are still well above pre-pandemic levels.

Here’s what will cost travelers more this holiday season:

As air travel nearly ground to a halt in 2020 due to the pandemic, US airlines shed staff through early retirement and payroll packages. Staffing levels are now approaching pre-pandemic levels at most airlines, but the number of flights and seats available has not returned to those levels.

Data from aeronautical analysis firm Cirium shows that the number of flights scheduled for November and December fell by 15% compared to the same months in 2019. Many of these missing flights were previously flown by smaller regional airlines serving smaller airports, and some of these airports have since lost service altogether. But even with a higher share of flights on larger aircraft, the number of available seats has decreased by 3.5% compared to the same period in 2019.

A surge in Covid cases in late 2021 weighed on holiday travel demand, but this year it’s positively resilient, according to airlines and industry experts.

“Vacation travel is back as strong as ever, and vacation travel is the reason this recovery has bounced back,” said Scott Keyes, founder of travel website Scott’s Cheap Flights. “So many people wanted to travel over Labor Day and the Fourth of July, and as we’ll soon see, Thanksgiving and Christmas.”

And that combination—strong demand and a tight supply of seats—means high fares.

The average fare is up about 40% from 2021, with leisure travelers paying an average of $289 each way, according to a fare tracker compiled by Wall Street analysts at Cowan.

But the tariffs are not only higher in comparison to pandemic prices.

Travel site Hopper says airfares have gone up 7% compared to the same period in 2019 and up 17% when comparing fares for those who waited up to a week before Thanksgiving to book a flight.

“Holiday travel is definitely more expensive than it has been in years past,” said Hayley Berg, Hopper’s chief economist.

Of course, most leisure travelers never board a plane — They drive. AAA estimates that 49 million will travel by car over the holidays, compared to 4.5 million who fly. And for these drivers, gas prices are far bigger concern than air fares.

The good news is that the price of a gallon of regular gasoline nationwide is well below the record $5.02 set in June. AAA reports that Sunday’s median was $4.67, down 27%. And prices continue to fall — the average price is down 11 cents a gallon in the last week alone.

But prices are still 8% higher than this time last year. At the end of the year, often just before Christmas, the gas price typically reaches its seasonal low.

Also with the annual increase in holiday trips, car travel decreases in November and December is usually well below the summer driving season. And numerous factors are driving global oil and gasoline prices to historic highs this year. Chief among them is Russia’s invasion of Ukraine, which triggered sanctions on Russian oil. US refining capacity, which fell during the pandemic, has yet to recover.

Sunday average price for a gallon of gas is 46% higher than the average price on Nov. 20 over the past 20 years, according to data from OPIS, which tracks gas prices for AAA.

Hotel prices are also higher than ever at this time of year. The consumer price index, the government’s main indicator of inflation, shows that the cost of out-of-home accommodation hit a record in May and the October average, the latest available, is just 2% below that peak.

Rates are up 6% year over year and up 12% from October 2019. While the CPI doesn’t report average rates in dollars, Hopper put the average hotel room rate over Thanksgiving weekend at $189 and over Thanksgiving weekend at $218 Christmas week.

Once again, strong demand and tighter supply – some hotels have not weathered the pandemic, others are still struggling to find the staff they need to fully reopen – are driving prices higher.

Rental car companies reduced their fleets in the early months of the pandemic, selling the cars they needed to raise cash. With automakers still not returning to full production due to a shortage of parts needed to build cars, including computer chips, it’s taken rental car companies a while to replenish their fleets to meet demand.

The good news is that October CPI data shows rental car prices are down 3.5% from October last year and 15% from the June 2021 record. Still, rental cars are 46% more expensive than they were in October 2019.

Daniel Turner, executive director of Power the Future, analyzes the Biden administration’s stance on coal, fossil fuels and alternative energy sources in Fox Business Tonight.

Nationwide, truckers and haulage companies have been dealing with the rising diesel prices since this summer. They say they don’t see any signs of these prices falling.

Chris Shelton is a driver at Lightning Logistics. He says his company added an extra fee for fuel that reduced his expenses, and it’s the only thing keeping food on his family’s table.

“It’s getting harder and harder to budget every week,” Shelton said.

Adam Wright owns Lightning Logistics and says he does what he can to keep his drivers afloat.

DIESEL REACHES RECORD PREMIUM OVER GAS, OIL

“We had to go to our customers and say, ‘Look, this is a unique environment.’ Fuel is through the roof now, so we had to go to our customers and charge a fuel surcharge,” Wright said.

And drivers like Shelton say this fuel surcharge has saved their finances.

Diesel-powered trucks stop to refuel in Las Vegas, Nevada. ((Fox News Digital/ Jon Michael Raasch) / Fox News)

“None of us could have operated without a fuel surcharge,” says Shelton.

A year ago, a gallon of diesel fuel cost an average of $3.65, according to AAA. Now it’s up to $5.33. Shelton says high prices coupled with a shortage of truckers are hurting the entire industry.

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“In the middle and after the Corona crisis, when trucking was taking off so much, many of my fellow drivers left to get what we call ‘real jobs’ or to become self-employed and independent,” said Shelton.

Wright also pointed out that the driver shortage is affecting the trucking industry.

A few large trucks from the People’s Convoy are parked on nearby streets as thousands of people take part in the Defeat the Mandate rally in Los Angeles to protest vaccination regulations that are slowing the spread of COVID-19 outside of Los Angeles (AP Photo/Damian Dovarganes/AP Newsroom)

“There is a shortage of truckers and there are a lot of things that need to be moved. So it’s a supply-demand problem,” Wright said.

They say the supply and demand problem could become a supply chain problem. Meanwhile, the US Energy Information Agency, which monitors diesel inventories, says October saw the lowest fuel supply since 2008.

US DRILLS ADD FOR THE SECOND WEEK IN A ROW OIL AND GAS DRILLS: BAKER HUGHES

Ultimately, if diesel prices continue to rise and companies can’t get more drivers on the road, it would result in higher prices in stores, Shelton said.

An aerial view of the Phillips 66 oil refinery is seen on May 11, 2022 in Linden, New Jersey, United States. (Photo by Tayfun Coskun/Anadolu Agency via Getty Images / Getty Images)

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“It starts with me as a fuel surcharge just to pick something up and take it somewhere. Well, then the person I’m taking it to has to raise their prices to sell it. And the person they’re taking it to, because I’m not taking it to a grocery store, I’m taking it to a retailer. Everyone has to go up a little bit. And then of course it goes back to me when I go somewhere to buy something,” Shelton said.

Minutes from the Federal Reserve’s November monetary policy meeting are expected to help shape the shortened week before the holiday on Wall Street as markets rebound from a losing week.

US stock and bond markets will close on Thursday, November 24 for the Thanksgiving holiday. Trading will also end early on Black Friday when the markets close at 1pm ET

A release of discussions from the Federal Reserve Board meeting earlier this month, due for release on Wednesday, will be the culmination of a lighter economic calendar in the coming days. The earnings calendar will also be relatively sparse when reporting on the third quarter enters the final stages.

Stocks posted a week of losses last week despite modest gains on Friday, after a chorus of hawkish Fedspeak dampened optimism highlighted by lighter October inflation data.

The S&P 500 fell 0.7% last week, while the Nasdaq Composite lost about 1.6% as central bank officials said in nearly a dozen speeches throughout the week that they intend to proceed with aggressive monetary tightening. The Dow Jones Industrial Average was roughly flat this week.

Minutes from the latest meeting of the FOMC, the Federal Reserve’s committee that votes on monetary policy, are likely to show officials planning a half-point rate hike at their December meeting.

Federal Reserve Bank of Atlanta President Raphael Bostic was the latest Fed member to signal the likelihood, saying in a remark in Florida on Saturday that he was comfortable expecting a 75-rate hike at the next meeting BPS move down but claimed rates could reach 4.75%. -5% before the Fed is done with its current tightening cycle.

“If the economy performs as I expect, I believe an additional 75 to 100 basis points of tightening is warranted,” Bostic said in a speech to the Southern Economic Association in Fort Lauderdale. “It is clear that more is needed and I believe this level of interest rates will be sufficient to contain inflation over a reasonable time horizon.” Bostic is not currently a voting member of the FOMC.

The story goes on

President of the Federal Reserve Bank of Atlanta Raphael W. Bostic. Portal/Clodagh Kilcoyne

Investors have welcomed easing inflation reports, but Bostic called the numbers a “mixed bag”. The Consumer Price Index (CPI) rose 7.7% last month compared to 8.2% in September. While figures showed October inflation rates cooling faster than expected, inflation remains more than three times the US Federal Reserve’s price stability target of 2% – even as officials have hiked interest rates six times this year, including four consecutive 0.75%.

Fed Chair Jerome Powell said in a press conference after this month’s meeting that he and his colleagues still have “some ways to go” to ease rising prices and acknowledged that the inflation picture has become more difficult.

“That means we have to have more restrictive policies and that narrows the path to a soft landing,” he said.

Aggressive rate hikes risk plunging the US economy into recession, a risk recently acknowledged by Fed officials more openly.

“Fed Chair Powell recalibrated monetary policy at the November FOMC meeting by embracing a new “velocity vs. target” paradigm – indicating an intention to achieve a higher final money rate while doing so at a slower one Pace happens,” EY Parthenon chief economist Gregory Daco said in a recent note. “Central banks’ determination to aggressively tighten monetary policy, coupled with the lagged impact of monetary policy on the economy, increases the likelihood of excessive tightening.”

Federal Reserve Board Chairman Jerome Powell speaks during a news conference in Washington, U.S. November 2, 2022. Portal/Elizabeth Frantz

Goldman Sachs raised its forecast for the Federal Reserve’s final interest rate to a range of 5% to 5.25% and embarked on another 25 basis point hike in May, noting that the investment bank’s risks to its Fed forecast are inclined upwards.

“Inflation is likely to remain uncomfortably high for a while longer, and this could put pressure on the FOMC to deliver a prolonged series of smaller hikes next year,” said economists led by Jan Hatzius.

Elsewhere on this week’s economic calendar, durable goods orders readings and global PMI data will provide investors with the latest snapshots of industrial and manufacturing activity. Measurements of new home sales and consumer sentiment from the closely monitored University of Michigan survey are also available.

Wall Street is closing in on earnings season, but earnings from Dell Technologies (DELL), JM Smucker (SJM), Zoom Video (ZM) and Dollar Tree (DLTR) will be among the key company updates next week.

According to data from FactSet Research, fewer companies are raising concerns about a recession in the third quarter than in the second quarter.

Of S&P 500 companies that conducted earnings calls from Sept. 15 through Nov. 16, 26% fewer companies used the term “recession” — 179 mentioned the word, up from 242 in the most recent quarter’s reporting period.

Yet this quarter is still the third-highest number of companies raising concerns about a potential economic downturn since at least 2010, according to FactSet data.

—

economic calendar

Monday: No significant reports planned for publication.

Tuesday: Chicago Fed National Activity IndexOctober (0.10 in previous month); Richmond Fed Manufacturing Activity IndexNovember (-7 expected, -10 last month)

Wednesday: MBA Mortgage Applicationsweek ending November 18 (2.7% in previous week); Durable Goods OrdersOctober preliminary (0.5% expected, 0.4% mom); Commodities without transportOctober preliminary (0.1% expected, 0.5% mom); Initial jobless claimsweek ending November 19 (225,000 expected, 222,000 last week); Ongoing Claimsweek ended November 12 (1.507 million in previous week); S&P Global US Manufacturing PMINovember preliminary (50.0 expected, 50.4 in previous month); S&P Global US Services PMINovember preliminary (48.0 expected, 47.8 last month); S&P Global US Composite PMINovember preliminary (48.2 in previous month); University of Michigan Consumer SentimentNovember finals (55.5 expected, 54.7 before); New Home SalesOctober (575k expected, 603k last month); New Home SalesMoM, October (-4.6% exp., -10.9% MoM); Minutes of the FOMC meeting, November 1st and 2nd

Thursday: Thanksgiving. No significant reports planned for publication.

Friday: Black Friday. No significant reports planned for publication.

—

results calendar

Monday: Agilent (A), Dell Technologies (DELL), JM Smucker (SJM), Jacobs Engineering (J), Li Auto (LI), Urban Outfitters (URBN), Weber (WEBR), Zoom Video (ZM)

Tuesday: Best Buy (BBY), HP (HPQ), Abercrombie & Fitch (ANF), American Eagle Outfitters (AEO), Analog Devices (ADI), Autodesk (ADSK), Baidu (BIDU), Burlington Storess (BURL), Canadian Solar ( CSIQ), Dick’s Sporting Goods (DKS), Dollar Tree (DLTR), Guess? (GES), Jack In The Box (JACK), Medtronic (MDT), Nordstrom (JWN), Vipshop (VIPS), VMware (VMW), Warner Music Group (WMG)

Wednesday: Deere (DE), SentinelOne (S)

Thursday: Thanksgiving. No significant reports planned for publication.

Friday: Black Friday. No significant reports planned for publication.

—

Alexandra Semenova is a reporter for Yahoo Finance. Follow her on Twitter @alexandraandnyc

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JERBA | Health Minister Christian Dubé “is already doing a very good job in terms of data collection,” Justin Trudeau said the day after a short interview with François Legault, in which he spoke, among other things, about federal health transfers.

The Prime Minister of Canada even suggests that the other provinces “could be inspired by what certain provinces (like Quebec) are doing in terms of data”.

“Not so the federal government can verify that everyone is doing their homework,” Mr. Trudeau assured, but so that all Canadians can benefit from the best ways to manage and manage the supply of health care services.

“I find it encouraging,” said François Legault later, taking stock of his participation in the 18th Francophonie Summit.

Legault is waiting for an offer

But Mr. Legault, who says he’s open to sharing his data with the other provinces using Ottawa and Quebec technology, is awaiting a concrete offer from the federal government.

“We haven’t seen a proposal with an amount yet. […] We are still awaiting the first proposal from the federal government,” stressed Mr Legault.

Ten days ago, François Legault repeated that “Justin Trudeau thinks he’s better than Christian Dubé”. He responded to the points raised by Ottawa in a context in which Quebec is demanding another $6 billion in federal transfers to meet its healthcare spending, while promising tax cuts to Quebecers and giving them checks to fight inflation.

Sam Bankman-Fried’s businesses owe their top creditors more than $3 billion, according to court filings as the cryptocurrency group’s huge bankruptcy proceedings unfold.

Crypto exchange FTX, founded by Bankman-Fried, and related companies on Sunday filed a list of their top 50 creditors, all of whom are customers and owe more than $20 million, two of which owe more than $200 million. The companies’ total liabilities are estimated at more than $10 billion, according to earlier filings, and there may be more than 1 million creditors.

Release of the list as part of Delaware’s Chapter 11 bankruptcy proceedings had been delayed as bankruptcy trustees struggled to find reliable records at FTX Group, which collapsed earlier this month following a liquidity crisis and allegations that it mishandled customer funds.

John Ray III, the bankruptcy expert who assumed control of the business and oversaw Enron’s liquidation, said in previous filings he had never seen “so complete a failure of corporate controls and such a complete lack of trustworthy financial information.”

FTX said it may need to update the creditor list as an “investigation.”[s] proceed with respect to the amounts listed, including payments that may have been made but not yet reflected on the [company’s] Books and Records”.

The filings show that FTX owes 10 clients more than $100 million. The top 50 creditors whose names are blacked out in the filing are all owed more than $20 million. FTX said in previous court filings that disclosing the names of its large account holders would be anti-competitive.

FTX’s clients included large financial groups that traded cryptocurrencies, such as hedge funds. Unlike traditional exchanges, cryptocurrency trading venues usually also handle client funds custody. Customers who were unable to withdraw their funds before the company halted withdrawals now have to wait a long time to get their funds back.

In other recent cryptocurrency bankruptcies involving Voyager Digital and Celsius Networks, a key legal issue has been determining whether account holders are unsecured creditors or have higher priority status in determining who receives recovery payments first. Another question that is likely to arise is whether account holders who withdrew their funds shortly before filing for bankruptcy would be subject to clawbacks.

The collapse of the exchange, which until this month was widely regarded as one of the most reliable trading venues for digital assets, has fueled fears that other companies could be at risk from their exposure to FTX and a crisis of confidence in the market.

Shares of Silvergate, a US bank known for its crypto exposure, fell around 30 percent last week. The bank said it has “the liquidity and capital ratios to support volatility.”

Hedge fund Galois Capital told clients earlier this month that “roughly half of our capital is tied to FTX.” Based on Galois’ assets under management as of June, that could total around $100 million.

In another filing on Saturday, FTX said the company has 330 employees around the world but is experiencing “extraordinary turnover.” It asked the court for permission to continue paying the remaining employees, who it said were vital to the bankruptcy event.

FTX said in court filings that new CEO Ray billed his time at $1,300 an hour and was paid a $200,000 advance fee. It also hired three new executives to help with the bankruptcy, including a chief financial officer.

A first court hearing is scheduled for Tuesday morning in the Delaware Federal Bankruptcy Court before Judge John Dorsey.

Into history… through the back door. Qatar, already heavily criticized extra-sport before the start of the 2022 World Cup, became the first host country to bow in the opening, defeating (2-0) Ecuador against the untenable Valencia, author of a double Sunday.

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The football world wondered about the true level of Al-Annabi (Bordeaux), who had been preparing almost behind closed doors for six months to successfully celebrate their magnificent debut at this level, and everyone could see that the reigning Asian champions, maybe paralyzed by the challenge, not up to it.

For its fourth participation, Ecuador rushed to accept the offer. After a goal disallowed for offside, which should be discussed (3′), the “Tricolor” quickly found the lead (16′), then made the break (31′).

Each time thanks to the unstoppable Enner Valencia, who provoked and converted a penalty, only to increase the gap with a powerful header. The striker, already in fine form at Fenerbahçe, has now scored 37 goals in 75 caps… including 5 at World Cups. Touched just before half-time, however, the Ecuadorian tormentor was replaced by a limp in the 76th minute.

On his bench, the Qatari coach, Spaniard Félix Sanchez Bas, educated at the Barcelona school, looked dismayed. Just like the public, who are more chilled by this catastrophic scenario than by the air conditioning of the stands, which caused controversy in Europe.

The spectacular Al Bayt Stadium, whose architecture is modeled on a Bedouin tent, seemed clearly convinced of the hosts of the world under the eyes of the current and former Emirs, architects of Qatar’s candidacy and in front of many heads of state, with many locals, in traditional outfits, among the 67,372 followers present.

Thrifty grandstands

The pre-match was marked by an opening ceremony narrated by American actor Morgan Freeman and a message of “respect and inclusion” in the context of repeated criticism of the emirate over respect for human rights.

Organized as usual in 3-4-3 and in trouble behind the back, regularly passed and little reassured by their goalkeeper, the Qataris suffered from existence in the first act and waited for stoppage time to show a better face. Faced with the goal, Almoez Ali couldn’t believe his header.

Less unbalanced, the second half was also less lively as the stands were a bit sparse at the break only to end almost empty at the final whistle. But in the trot, the 4th in the Amsud zone, whose game seems more stable despite the substitutions, could not extend his lead.

Unable to react after that indigestible aperitif against their closest opponents, the Qataris find themselves in a tricky situation when they face the greats of Holland and Senegalese in Group A.