How ‘all you can eat’ restaurants’ turn a profit despite offering endless food

 

With a few tricks, these restaurants still manage to turn a profit — despite offering endless food. All you can eat buffets,  are often the ones that wins at the end and makes you feel defeated and bloated when leaving the restaurant.

 

 

Bookies fixed-odds betting terminals stakes cut to £2

(qlmbusinessnews.com via bbc.co.uk – – Thur, 17 May 2018) London, Uk – –

The maximum stake on fixed-odds betting terminals (FOBTs) will be reduced to £2 under new rules unveiled by the government.

Currently, people can bet up to £100 every 20 seconds on electronic casino games such as roulette.

Sports Minister Tracey Crouch said reducing the stake to £2 “will reduce harm for the most vulnerable”.

But bookmakers have warned it could lead to thousands of outlets closing.

William Hill, which generates just over half its retail revenues from FOBTs, described the government’s decision as “unprecedented” and warned that 900 of its shops could become loss-making, potentially leading to job losses.

It said its full-year operating profit could fall by between £70m and £100m.

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GVC Holdings, which owns Ladbrokes, said it expected profit to be cut by about £160m in the first full year that the £2 limit is in force.

Shares in William Hill and GVC Holding both fell following the news.

Ms Crouch said: “We recognise the potential impact of this change for betting shops which depend on (FOBT) revenues, but also that this is an industry that is innovative and able to adapt to changes.”

Tom Watson, the shadow culture secretary, told the BBC: “The great tragedy of this is [that] for five years now pretty much everyone in Westminster, Whitehall and in the country has known that these machines have had a very detrimental effect in communities up and down the land.

“The bookmakers have chosen to take a defiant approach, trying to face down parliament, really, with a very aggressive campaign.”

The Church of England praised ministers for “admirable moral leadership” for reducing the maximum stake.

However, Betfred’s managing director Mark Stebbings claimed the government had “played politics with people’s jobs”. and the move was “clearly not evidence based but a political decision”.

“This decision will result in unintended consequences including direct and indirect job losses, empty shops on the High Street, and a massive funding hit for the horseracing industry.”

The government said the stake limit would come into effect some time next year, but would not set an exact timetable.

In taking the most drastic of the options available to them on FOBTs, the government has indicated that gambling is on a journey much like nicotine a generation ago.

Many addictive behaviours chart the same course. First, they are commonly accepted, then victims speak out and a campaign is launched. Finally, new laws catch up with a shift in public sentiment.

Industry figures argue that what is at stake is not only jobs and revenues for the Exchequer, but the principle that in a free society fully informed adults should be free to spend their money as they choose, so long as it doesn’t harm others.

Campaigners have successfully argued that the harm to communities and individuals is severe enough to warrant a major change.

It’s vital to remember that, while FOBTs understandably grab the headlines, this review also looks at the radical shift of the industry online.

There many addicts who find there is no respite, and children with smartphones are potentially exposed.

Tighter regulation of online gambling is the next battle campaigners intend to win.

Reducing harm
The government’s consultation into gambling machines found consistently high rates of problem gamblers among players of FOBTs “and a high proportion of those seeking treatment for gambling addiction identify these machines as their main form of gambling”.

Anti-gambling campaigners have condemned the machines, saying they let players lose money too quickly, leading to addiction and social, mental and financial problems.

Ms Crouch said the £2 limit on FOBTs would “substantially” reduce harm and protect the most vulnerable players.

Matt Zarb-Cousin is now a spokesman for the Campaign for Fairer Gambling but was previously addicted to FOBTs.

“It’s no exaggeration to call FOBTs the crack cocaine of gambling,” he has told the BBC.

“If we had a gambling product classification, similar to that of drugs, FOBTs would be class A.”

William Hill chief executive Philip Bowcock, said: “The government has handed us a tough challenge today and it will take some time for the full impact to be understood.”

Peter Jackson, chief executive at Paddy Power Betfair welcomed the government intervention, saying his company had been concerned that FOBTs were damaging the reputation of the gambling industry.

The British Horseracing Authority (BHA), which receives millions of pounds from bookmakers through a levy, said it would work closely with the government to respond the decision.

 

 

‘Avengers: Infinity War’ worldwide box office takings approaching $1 billion

 

 

Disney’s and Marvel’s ‘Avengers: Infinity War’ is approaching $1 billion at the worldwide box office faster than any film in history after finishing Tuesday with $808.4 million in global ticket sales, including clearing the $300 million mark domestically in record time.

 

Inside Tommy Hilfiger’s Stunning $50 Million Penthouse in the Plaza Hotel

Iconic fashion designer Tommy Hilfiger and his wife Dee take us on a home tour of their duplex penthouse apartment at the Plaza Hotel overlooking Central Park. Hilfiger’s NYC penthouse suite has been home to The Beatles, The Rolling Stones, and Marilyn Monroe. His office even features an authentic New York Times sign

 

Billionaire: Richard Branson work life balance in a day on Necker Island

 

People often ask how I spend my time on Necker Island – here’s a film that gives you a glimpse into a day on Necker. From playing tennis to working from home, seeing the lemurs to kitesurfing , join us for a taste of island life.

I’ve never had a desk in an office since I was a teenager. I prefer to work in a hammock, on a sofa or even in a bath. Now that’s flexible working!

It’s critical to get the balance between work and play right. Find time for yourself; work hard but also play hard. I think people work more effectively when they are given the freedom to make their own decisions — that is definitely something we practice on Necker.

I’ve embraced the social media revolution, and do a lot of posting from Necker Island (including this video!) You can be instantly connected to fascinating people everywhere — even if you’re in a remote corner of the world.

From The Elders to The Carbon War Room, Virgin Galactic to The B Team, Necker is a great place to think and a great place to conceive ideas. Take a look at where we get our inspiration. Where do you find yours?

 

The Spectacular Street Artists 3D Optical Illusions

 

In this video you can see best 3d street art painting and amazing street art Illusion 3d Street Art known as 3d mark art is two-dimensional art work drawn on the street that gives you a three-dimensional optical illusion from a certain viewpoint. Kurt Wenner the street painter developed a new form of street art, the 3D street painting, to produce three-dimensional optical illusion on a two-dimensional horizontal surface.This new art form of street painting has been gaining significance all around the world and is disseminated by various artists. It is admired at street painting festivals as well as advertising events. Street artists do not desire to change the definition of 3d artwork, but rather to question the present environment with its own language. i hope you will enjoy these 3D street art works.

 

Snapchat’s British Ad revenue set to overtake Twitter’s next year

(qlmbusinessnews.com via theguardian.com – – Mon, 19 Mar 2018) London, Uk – –

UK arm – which earns about 10% of app’s global ad revenues – is forecast to bring in £181m

Snapchat is so popular in Britain that its advertising revenue will overtake Twitter’s UK revenue in 2019, and revenue from consumer magazine and cinema advertising within two years.

The seven-year old phone app is hugely popular with younger users, many of whom have flocked from older social media platforms such as Facebook, and advertisers are beginning to spend increasingly large amounts of their digital ad budgets on targeting its users.

Snapchat’s UK ad revenue growth is forecast to soar from just £21.9m in 2016 to £181.7m next year. Twitter UK will make about £171m in revenues, according to eMarketer, a market research company. The UK currently accounts for about 10% of Snapchat’s global ad revenues.

By 2020, Snapchat will make about £310m, making it larger than the roughly £300m digital and print ad spend on consumer magazines and a third bigger than the £200m cinema advertising market.

“Snapchat continues to pull in users and, by extension, ad revenues,” said Bill Fisher, UK senior analyst at eMarketer. “An almost doubling of revenues in 2018 is a great result.”

Snapchat has had a rough start to the year after $1bn (£700m) was wiped off its market value following a tweet by Kylie Jenner, a member of the Kardashian clan and one of the first wave of celebrities whose fame grew primarily on Snapchat. She distanced herself from the messaging service, though she later said: “[S]till love you tho snap … my first love.”

Snapchat’s growth rate is impressive but it remains a minnow next to the might of Facebook, which owns arch-rival social platform Instagram.

Facebook’s dominance will be helped by Instagram, which is forecast to grow from a 4.9% share this year (£636m) to an 8.1% share (£1.25bn) by 2020. By comparison, in 2020 Snapchat is likely to command 2% (£309m) of the UK digital ad market and Twitter just 1.1% (£169m).

But eMarketer says Snapchat will need to grow its appeal to a wider range of users to attract a more diverse range of advertisers.

“While the user base continues to be dominated by younger age groups, Snapchat’s full revenue potential will remain somewhat restricted,” said Fisher.

“And with the financial muscle of Facebook behind Snapchat’s close competitor, Instagram, the company is going to have to work ever harder for those ad dollars.”

The figures from eMarketer also show that the duopoly of Facebook and Google will continue to increase their stranglehold on the UK digital ad market. This year they will account for 65.8% of the market, and it is forecast that by 2020 this will have grown to 71.6%.

By Mark Sweney

 

London’s Growing Rise in Demand for ‘Super Butlers’

 

As a city among the world’s top three for the super wealthy, London is seeing a growing rise in demand for so-called super butlers. BBC London’s Gareth Furby reports the best butlers – who provide special shopping services and specialise in “making things happen” as well as serving meals – can be paid more than £100,000-a-year. “I think I’m pretty super, yeah,” admits butler Mark Soar. Andrew Coy of the British Butler Academy, trainee butlers Conor and Eric also appear in this report.

 

Sky and Netflix Agree Major Media European Partnership Deal

(qlmbusinessnews.com via telegraph.co.uk – – Fri, 2 Mar 2018) London, Uk – –

Sky has sealed an agreement to offer Netflix via its Sky Q set-top box, in a major shift in the media landscape, even as Comcast, Disney and 21st Century Fox wrangle over the future of the pay-TV giant.

The deal will allow Sky Q households in the UK to add Netflix to their monthly subscription sometime in the next year. Viewers who already have a separate Netflix account will be able to bundle it into their bill. Pricing of new Sky packages including Netflix has not been revealed.

The new partnership is a landmark for both Sky and Netflix.

It is first time that Sky has allowed a rival subscription television service to piggyback on its heavy investment in set-top boxes. Executives have dropped their opposition as Netflix’s $8bn a year and rising programming budget puts pressure on Sky’s pay-TV stronghold.

Sky has responded with increased investment in its own original dramas but recent financial reports have suggested mounting pressure on its core pay-TV business as more Britons take cheaper streaming options. A deal with Netflix ensures high profile Netflix series such as The Crown and Star Trek: Discovery are available via Sky Q and should reduce the risk of frustrated subscribers cancelling their contracts.

Netflix has made the breakthrough following rapid growth. Since its UK debut in 2012 it has reached an estimated 7.5 million UK households. Progress has slowed, however, and simpler access to Sky living rooms could unlock new growth across Europe.

Sky Q is the operator’s latest flagship set-top box, which relies heavily on internet connectivity to deliver more on demand and suggest programmes based on viewers’ interests. It is currently in around two million British homes, but Sky aims to upgrade its entire UK base of around 8.8 million satellite subscribers in the next few years. It is also rolling out Sky Q in Italy and Germany.

Netflix will also gain access to more than 1.4 million Now TV customers as Sky will add a standalone Netflix app to its fast-growing streaming service.

Although it has already signed deals with pay-TV operators including BT and Virgin Media, Sky’s heft in the market has enabled it to secure concessions from Netflix including more integrated billing.

The deal will also allow Sky to blend Netflix programming with material from other providers in search results and via Sky Q’s system of tailored suggestions, without opening the Netflix app. In its deals with pay-TV operators Netflix has previously maintained control of such algorithmic presentation of its programmes to encourage viewers to stay within the confines of its app.

Industry sources said the two sides had reached a deal on “pragmatic” terms that share the revenue benefits of any growth Netflix enjoys as a result, and the costs of marketing and maintaining the partnership. Talks advanced once it became clear Netflix growth was slowing and Sky was able to ask for better terms despite the pressure on its busines

It is understood the “seamless” way Netflix will be integrated with Sky Q was crucial. Sky is in a long-running row with the BBC over its refusal to allow its programmes to be suggested alongside those of other broadcasters, outside the iPlayer app. Sky is likely to argue that if Netflix is willing to integrate its programming investment into Sky Q then the BBC should too.

The deal is the latest in a series of major developments for Sky’s core business against the backdrop of a gripping takeover tussle. Comcast, which made a shock £22.1bn counter-bid against Fox this week, cited the advanced features of Sky Q as a major attraction.

As well as neutralising the threat from Netflix, Sky has also signalled peace with BT in a mutual channel wholesale deal that led to a sharp discount on its Premier League rights bill last month.

Chief executive Jeremy Darroch said: “By placing Sky and Netflix content side-by-side, along with programmes from the likes of HBO, Showtime, Fox and Disney, we are making the entertainment experience even easier and simpler for our customers.”

By  

 

 

William Hill fined £6.2m over money laundering failures by Gambling Commission


Ian Sutton/Flickr

(qlmbusinessnews.com via news.sky.com– Tue, 20 Feb, 2018) London, Uk – –

Ten customers were allowed to deposit large sums of money linked to criminal offences, the Gambling Commission said.

William Hill has been fined £6.2m by regulators over money laundering and problem gambling failures.

It is the second biggest penalty ever levied by the Gambling Commission and the largest in relation to money laundering.

The regulator said 10 customers were allowed to deposit large sums of money linked to criminal offences.

It said William Hill did not seek information about the source of the funds or establish whether they were problem gamblers.

The commission said senior management at William Hill “failed to mitigate risks and have sufficient numbers of staff to ensure their anti-money laundering and social responsibility processes were effective”.

Gambling Commission executive director Neil McArthur said: “This was a systemic failing at William Hill which went on for nearly two years and today’s penalty package reflects the seriousness of the breaches.

“Gambling businesses have a responsibility to ensure that they keep crime out of gambling and tackle problem gambling – and as part of that they must be constantly curious about where the money they are taking is coming from.”

The regulator identified failures taking place between November 2014 and August 2016.

On one occasion, a customer who was funding his gambling habit by stealing from his employer was allowed to deposit £541,000 over 14 months.

An operator had made the assumption, after a chat with the customer, that he was earning as much as £365,000 a year – when in fact he was on a salary of £30,000, the commission said.

In another instance, a customer deposited £653,000 over 18 months, during which he triggered an “amber risk” alert which should have seen his file passed to managers for review.

This did not occur due to a “systems failure” and the customer was allowed to gamble for a further six months despite continuing to activate financial alerts, the regulator said.

William Hill will pay a penalty of £5m plus return £1.2m – the amount it gained through the rule breaches – to people affected by crime linked to the breaches.

Chief executive Philip Bowcock said the company had fully cooperated with the commission and introduced “new and improved policies and increased levels of resourcing” as well as launching an independent review of its processes.

He added: “We are fully committed to operating a sustainable business that properly identifies risk and better protects customers.”

Online gambling firm 888 was handed a £7.8m penalty last year for “significant flaws” in its safeguarding of customers.

By John-Paul Ford Rojas, Business Reporter

 

 

Will Smith shares his success philosophy

 

He’s the only actor to have eight consecutive films gross over $100 million in the domestic box office. He has been ranked as the most bankable star worldwide by Forbes. As of 2016, his films have grossed $7.5 billion at the global box office. For his performances in Ali, and in The Pursuit of Happyness, Smith received nominations for the Academy Award for Best Actor. He has won four Grammy Awards. He turned down the role of Neo in The Matrix in favor of Wild Wild West. In 2005, Smith was entered into the Guinness Book of World Records for attending three premieres in a 24-hour time span.

 

 

 

Manchester United undisputed world’s richest top earning football club

 

(qlmbusinessnews.com via news.sky.com– Tue,23 Jan, 2018) London, Uk – –

An annual money league sees Jose Mourinho’s United side being chased down for the top spot by Real Madrid and Barcelona.

Manchester United have retained their crown as the word’s leading football club for revenue generation, according to an annual league table.

According to the Money League, compiled by Deloitte, the club is being chased down by the two richest sides in Spain – with Real Madrid overtaking Barcelona in the chasing pack in the 2016/17 rankings.

The league is determined by revenue generation, with United netting £581.2m over the 12 months compared to £515.3m in the previous season.

The report said winning European football’s second-tier club championship, the Europa League, was “critical” to Jose Mourinho’s side coming out on top for a second year as they picked up €44.5m from UEFA in the process.

Real won both the Champions League and La Liga titles in the season – helping them leapfrog rivals Barca to achieve revenues of £579.7m and £557.1m respectively.

All the top 20 clubs are European but Premier League sides dominate – largely a result of broadcast revenues from the three-year £5.1bn TV rights deal with Sky, the owner of Sky News, and BT.

Manchester City and Arsenal were 5th and 6th while Chelsea and Liverpool also featured. The are 10 Premier League sides in the top 20.

Deloitte said the gulf of just £1.5m between the top two clubs was the smallest recorded by its team.

Combined revenue for the top 20 sides grew 6% to a new record sum of €7.9bn (£6.94bn).

Dan Jones, a partner in Deloitte’s Sports Business group, said: “European football continues to flourish financially, with almost half a billion euro of revenue growth for the top 20 Money League clubs.

“United’s ability to retain first position is all the more impressive against the backdrop of the weakened pound against the euro, and with both Real Madrid and FC Barcelona forecasting further revenue growth in 2017/18, the battle at the top will likely come down to on-pitch performance again next year.

“With all three clubs through to the Round of 16 of the UEFA Champions League, it may be as simple as the club that goes furthest in the competition will have the best chance of topping the Money League next year.”

:: The top 20 clubs as determined by revenue in 2016/17:

:: 1 Manchester United £581.2m
:: 2 Real Madrid 579.7m
:: 3 FC Barcelona £557.1m
:: 4 Bayern Munich £505.1m
:: 5 Manchester City £453.5m
:: 6 Arsenal £419m
:: 7 Paris Saint-Germain £417.8m
:: 8 Chelsea £367.8m
:: 9 Liverpool £364.5m
:: 10 Juventus £348.6m
:: 11 Tottenham Hotspur £305.6m
:: 12 Borussia Dortmund £285.8m
:: 13 Atletico de Madrid £234.2m
:: 14 Leicester City £233m
:: 15 Internazionale £225.2m
:: 16 Schalke 04 £197.8m
:: 17 West Ham United £183.3m
:: 18 Southampton £182.3m
:: 19 Napoli £172.5m
:: 20 Everton £171.2m

By James Sillars, Business Reporter

CES 2018: internet-connected Wine Bottle Opener

 

Coravin has unveiled an internet-connected version of the cork-sealing gadget it makes to preserve bottled wine. By linking the Model Eleven to an app, the US firm says it has been able to introduce several new features. These include the ability to match vintages with classic rock albums. The BBC’s Chris Foxx was given a demo at the CES tech show in Las Vegas.