🍺 Free Round?
The pub is in. The workshop? Out in the cold.
Good morning!
Last week John Healey, Britain's chancellor, delivered his first Budget and announced that 70,000 more shops, pubs and gyms in England will stop paying business rates, the local tax on commercial premises. Small Business Rate Relief already spared premises valued under £12K. From April 2027 the line moves to £18K, but only for retail, hospitality and leisure. Vape shops and adult gaming arcades are struck off the list. The accountant above the pub, the nursery and the small workshop get nothing, as the Federation of Small Businesses was quick to point out.
The Treasury does not tax an activity. It taxes the room. A consultant typing in the spare bedroom pays council tax like any householder. Let the same consultant turn the garage into a hair salon and the Valuation Office Agency, the taxman's own property valuer, carves a slice of the house onto the business register. In 2003 the agency went further and rated the spare bedroom of Mrs Tully, an Inland Revenue employee working from home after a back injury, on equipment the Revenue itself had supplied. The taxman's desk had turned the taxman's employee into a business, until a tribunal sent the bill back.
Exemptions follow the same science. A fish farm pays nothing, unless its fish are ornamental: the trout is food, the goldfish is a commercial venture. Lighthouses, swinging moorings and, on some council lists, air raid protection works still escape the rate, 81 years after VE Day. France, which taxes home offices with the same zeal, exempts cab drivers who own one or two cars, provided they never take both out at once. One line of French tax doctrine stops the reader cold: when the driver dies, his widow keeps the exemption if she carries on his trade. A civil servant once pictured that woman behind the wheel of her husband's taxi, finishing the month. The consultant in the spare room has no widow provided for in any code. The consultant has a printer.
California skips the furniture altogether and charges every limited liability company $800 a year, whether it books $10 or $10M. From 2027 newcomers pay $400 in year one, so the founders who incorporated this year paid double for the crime of being early. Nobody disputes that a town should bill those who wear out its pavements. But a tax that tells a trout from a goldfish and a bedroom from a garage no longer measures an activity. It punishes whoever failed to read the code to the end. Abolition would be worse. The Treasury would replace it with two taxes, each with its own threshold, its own exemptions and its own widow.
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🗞️ Top Story
- 🇩🇪 Power Trip. Zelensky arrives in Berlin to urge Germany for stronger backing on air defense and energy, reminding Europe that Ukraine’s needs are far from met. (Le Figaro)
- 🇪🇸 Track Record. Spain’s transport minister Óscar Puente resigns after a second deadly train crash in under a year leaves 69 dead and 200 injured, citing political responsibility. (Die Zeit)
- 🇵🇱 Borderline Call. Prime Minister Donald Tusk claims Polish forces thwarted a suspected Russian provocation at the Kaliningrad border, mobilizing quickly to prevent any escalation overnight. (Le Figaro)
- 🇸🇪 Majority Report. Sweden's parliament rejects Elisabeth Thand Ringqvist as prime minister, leaving the country stuck in a political deadlock nearly two months after the election. (Spiegel)
- 🇪🇺 Flight Risk. Bomb threats targeting seven European flights triggered emergency landings, airport closures, and a continent-wide security scramble, though no devices were found. (Financial Times)
- 🇺🇦 Enemy Lines. Julija Mendel, once President Zelensky's press secretary, now faces life in prison for alleged treason after publicly criticizing Ukraine and its leadership abroad. (Spiegel)
- 🇺🇸 House Party. Early projections show Democrats winning control of both the House and Senate in the 2026 midterms, delivering a sharp rebuke to Donald Trump’s Republicans. (Spiegel)
- 🇺🇸 Deal or No Deal. Trump insists he will honor the midterm results and work with Democrats, offering rare conciliatory words as the GOP falters. (New York Times)
- 🇺🇸 Coming Out Ahead. Chris Pappas wins the New Hampshire Senate seat, becoming the first openly gay man elected to the Senate and keeping the state blue. (Le Parisien)
- 🇺🇸 Negative Return. Vivek Ramaswamy, the Republican billionaire and Trump ally, loses the Ohio governor race after an attack ad backfires spectacularly. The lesson: not all publicity is good publicity. (Le Figaro)
- 🇺🇸 Blue Moon. Democrat James Talarico wins a Texas Senate seat for the first time since 1988, ending a Republican streak that once felt unbreakable. (BBC)
- 🇺🇸 Wheel Power. Democrat Josh Turek, a Paralympic medalist who uses a wheelchair, wins Iowa’s Senate seat in a state long dominated by Republicans. (El Pais)
- 🇺🇸 Red Card. Republican Jon Husted loses the Ohio Senate seat to Democrat Sherrod Brown, ending GOP control of J. D. Vance's old post and rattling party leaders. (Le Monde)
- 🇺🇸 Shot in the Dark. New York reports its first measles death in 30 years as Governor Hochul blames falling vaccination rates and Trump-era policies for the resurgence. (Die Zeit)
- 🇺🇸 Pay to Play. The Trump administration plans to halt $4B in direct aid to Israel, offering weapons for sale rather than gifts starting next year. (New York Times)
- 🇬🇱 Base Value. Greenland's parliament approves a new security deal with the US, paving the way for expanded American military presence if Denmark also agrees. (Spiegel)
- 🇻🇪 Staycation. The Trump administration is negotiating a deal to keep US troops stationed in Venezuela, turning a former adversary into a long-term host. (New York Times)
- 🇰🇵 Rocket Man Returns. North Korea fired multiple missiles into the Sea of Japan and dismissed US calls for dialogue, calling Washington’s stance “hostile as ever.” (Le Temps)
- 🇮🇩 Wire Tapped. Three Indonesian police generals, including President Subianto's chief of staff, have been arrested for allegedly spying on the president and other high-profile figures using illegal surveillance. (Die Zeit)
- 🇮🇱 Proof of Life. Israel’s attorney general demands actual evidence from Shin Bet after Netanyahu’s bloc floods social media with fraud claims against Arab parties. (Ouest-France)
🇬🇧 United Kingdom
- 🇬🇧 Money Never Sleeps. The Conservatives bring back David Cameron as their fundraising headliner, hoping his star power can revive donor enthusiasm and party coffers. (Financial Times)
- 🇬🇧 Crown Control. King Charles called the slave trade a "shameful chapter" at the Commonwealth summit, stopping short of a formal apology as Caribbean leaders pressed for more. (BBC)
🇺🇸 United States
- 🇺🇸 Blue Moon. Democrat Annie Andrews wins South Carolina’s Senate seat in a shock upset, flipping a deep-red state that Republicans barely saw coming. (New York Times)
- 🇺🇸 Third Time’s the Charm. Democrat Sarah Trone Garriott is projected to win Iowa’s 3rd Congressional District, flipping a key seat and boosting Democratic momentum in the House. (Bloomberg)
- 🇺🇸 Out in Front. Chris Pappas wins the New Hampshire Senate race, becoming the first openly gay man elected to the Senate in history. (New York Times)
- 🇺🇸 Blue Streak. Democrat Vicente Gonzalez holds on to Texas’ 34th Congressional District, as NBC projects another term for the incumbent in a closely watched race. (Bloomberg)
🏛️ Economy
- 🇪🇺 Wire Transfer. The and Canada will connect their real-time payment systems, aiming to make cross-border transfers as fast as sending a text, no passport required. (FinExtra)
- 🇪🇺 Table Stakes. German Chancellor Friedrich Merz and Ukrainian President Volodymyr Zelensky demand Europe be included in US-Russia talks on Ukraine, insisting a ceasefire must be the outcome. (Die Zeit)
- 🇪🇺 Check Out. The UK and have finalized a draft deal to cut Brexit food export checks, promising easier trade for producers and fewer headaches for shoppers. (The Guardian)
- 🇨🇳 Flow and Order. Despite years of US pressure, Zhejiang Chouzhou Commercial Bank enabled sanctioned funds from Iran and Russia to move through China, with American officials watching but holding back. (Wall Street Journal)
- 🇳🇿 Jobless in Paradise. New Zealand’s unemployment rate hit 5.7% in Q3, its highest since 2015, surprising economists and unsettling politicians just before the election. (Wall Street Journal)
🇬🇧 United Kingdom
- 🇬🇧 Passport Control. Andy Burnham distances himself from suggestions of restoring free movement with the EU, pledging that the public remains in charge of the UK's direction. (The Guardian)
- 🇬🇧 Green Tape. The UK’s Financial Conduct Authority unveils new rules for ESG rating providers, promising more transparency and oversight for a $2.2B data market that investors have struggled to trust. (FinExtra)
🏢 Real Estate
- 🌍 Pier Pressure. With more than 6,000 superyachts now crowding the seas, luxury property investors are pivoting to waterfront developments with exclusive yacht parking. (CNBC)
🇬🇧 United Kingdom
- 🇬🇧 Power Play. Brookfield plans to build a $27B AI data center at a UK power station, turning old energy into new intelligence for the digital age. (CNBC)
- 🇬🇧 Burning Issue. UK MPs are warned that the Palace of Westminster faces a Notre Dame-style fire unless they stop delaying its costly renovation plans. (The Guardian)
🇺🇸 United States
- 🇺🇸 Home Alone. Florida voters approved a major property tax cut that boosts the homestead exemption, leaving local governments searching for missing revenue and new ways to fund services. (Bloomberg)
🔗 On-chain
- 🇰🇷 Block and Rob. North Korean hackers allegedly looted $6B from Binance 🇨🇳, but the real surprise is how quickly users rushed back for another round. (Financial Times)
- 🇸🇬 AI, Meet ROI. Hackers combined phony job interviews with artificial intelligence to steal $6.3B in crypto, according to Binance 🇸🇬 co-CEO Richard Teng. The return on deception just keeps rising. (CNBC)
💱 Listed Markets
- 🇩🇪 Margin Call. BMW 🇩🇪 warns investors that its 2026 profit outlook is shrinking again, as restructuring and the electric shift squeeze its once-premium margins. (Les Echos)
- 🇮🇹 Bank Shot. Intesa Sanpaolo 🇮🇹 ups its 2026 net profit outlook while closing in on a bid for Monte dei Paschi 🇮🇹, banking on bigger numbers and fewer competitors. (Wall Street Journal)
- 🇺🇸 Buy the Dip. Despite Palantir beating revenue and profit forecasts, its stock slid in premarket trading while analysts doubled down on their bullish outlook and lofty price targets. (CNBC)
- 🇺🇸 AI of the Tiger. Super Micro Computer 🇺🇸 rides the artificial intelligence wave, reporting $1.59B in quarterly profit and leaving last year's $168M in the dust. (Wall Street Journal)
- 🇺🇸 Toxic Assets. 3M 🇺🇸 agrees to a $7.4B settlement for personal injury claims tied to PFAS chemicals, proving some liabilities never wash away. (Wall Street Journal)
- 🇺🇸 IPO Corral. The Texas Stock Exchange touts lower fees and anti-ESG swagger to lure companies, yet most big players are sticking with New York’s prestige for now. (Financial Times)
- 🇺🇸 Cash Out Loud. John Connaughton of Bain Capital predicts $30B in asset sales for 2026, betting big on momentum from the firm's Asia operations. (Bloomberg)
- 🇺🇸 The Spy Who Plugged Me. intelligence investigates whether Nvidia's Jensen Huang's relationship with Alice Huang enabled China to access prized GPU designs, causing waves in Silicon Valley. (Le Figaro)
- 🇨🇦 Shopifall. Shopify 🇨🇦 shares dropped 7% after its Q3 revenue and gross merchandise volume both missed analyst estimates, leaving investors with an empty cart. (CNBC)
- 🌍 Crude Awakening. Oil prices slid to $103 after reports of US-Iran diplomatic progress, with Brent down nearly 8 percent in a single day as traders recalibrated for peace instead of war. (Financial Times)
🇬🇧 United Kingdom
- 🇬🇧 Birds of Prey. Arini Capital Management, famed for its parrot-breeding founder and bold bets, has seen its flagship fund plunge over 26% this year as risky credit markets turn against it. (Financial Times)
🇺🇸 United States
- 🇺🇸 Diversity Dividend. Lockheed Martin settles for $29.5M after federal officials accused it of bias against white employees, making equity a costly business for defense contractors. (Wall Street Journal)
🛎️ Big Deals (M&A)
- Ennogen Healthcare International 🇬🇧 will acquire Aspen Pharmacare 🇿🇦’s European rights and IP to menopause health product Ovestin for $220M.
- Public Policy Holding 🇬🇧 will acquire strategic communications firm Reevemark 🇺🇸 for $80M.
- Shell 🇬🇧 has agreed to sell its 16.7% stake in Australia’s North West Shelf gas project to XRG 🇦🇪 for $1.45B.
- BPCE 🇫🇷 has agreed with Apax Funds 🇬🇧 to acquire 100% of Portuguese insurer GamaLife 🇵🇹, subject to employee consultation and regulatory approvals. Closing could occur in H1 2027.
- PAI Partners 🇫🇷 and Carlyle 🇺🇸 have agreed to sell Theramex 🇬🇧 to Cinven 🇬🇧, a women’s healthcare pharmaceutical company, subject to regulatory approval and expected to close in H1 2027.
- Intesa Sanpaolo 🇮🇹 will launch its $37B takeover bid for BMPS 🇮🇹 this month.
- Kotsovolos 🇬🇷 has agreed to acquire Flanco 🇷🇴 for €35M, with completion expected by the end of 2026 subject to regulatory approvals.
- Nordtech Group 🇸🇪 acquires SaaS leasing software company Leasify 🇸🇪.
- Flat Capital 🇸🇪 sold around one-third of its stake in SpaceX 🇺🇸 for SEK55M, generating a nearly SEK45M gross profit, or 5.5x its investment.
- Salesforce 🇺🇸 has acquired Swedish AI company Listen Labs 🇸🇪.
- Marvell Technology 🇺🇸 has agreed to acquire optical components maker Lumentum 🇺🇸 in a $115B all-stock deal including debt, at a 24% premium.
- Blackstone 🇺🇸 and the Maple 8 pension consortium 🇨🇦 agreed to acquire a 49.9% stake in LNG Canada 🇨🇦's liquefaction business from Mitsubishi Corp. 🇯🇵 for $3.1B.
- TWG Global 🇺🇸 is exploring the sale of Mark Walter’s controlling stake in Cadillac Formula 1 Team 🇺🇸 at a $3B valuation.
- SpaceX 🇺🇸 is in talks to acquire Boost Mobile 🇺🇸 from EchoStar 🇺🇸 or use its network.
- OppFi 🇺🇸 has abandoned its acquisition of BNC National Bank 🇺🇸 and parent company BNCCORP 🇺🇸, withdrawing its regulatory applications.
- CVS Health 🇺🇸 is considering spinning off its retail pharmacy chain as a separate listed company, potentially breaking up its $117B healthcare empire and unwinding its $78B acquisition of Aetna 🇺🇸.
- Foodtastic 🇨🇦 launches a hostile bid to acquire rival MTY Food 🇨🇦 for C$982M ($702M), taking the offer directly to shareholders after being rejected.
- JD.com 🇨🇳 has completed its €2.2B acquisition of German electronics retailer Ceconomy 🇩🇪 after EU clearance, subject to 10-year commitments addressing foreign-subsidy concerns.
- AVID 🇦🇺 matches Warburg Pincus 🇺🇸’s $1.6B bid for Ingenia 🇦🇺.
- Emaar Properties 🇦🇪 plans to acquire the remaining stake in listed construction arm Emaar Development 🇦🇪 for $16.3B.
🇺🇸 United States
- Cordatus Capital 🇺🇸 has acquired a majority stake in Diamabrush 🇺🇸, a manufacturer of abrasive products and floor-maintenance solutions.
- GrowthCurve Capital 🇺🇸 has acquired a majority stake in medication access platform TailorMed 🇺🇸.
🧳 Private Markets & VC
🇬🇧 United Kingdom
- 🇬🇧 Bird in the Red. Hamza Lemssouguer’s Arini Capital Management 🇬🇧 faces a 26% loss in its flagship fund after risky debt bets backfire, forcing fire sales and margin calls just as it prepares to move into a lavish new Mayfair office. (Financial Times)
🇺🇸 United States
- 🇺🇸 Room Service. OpenAI and Anthropic have set up dedicated “war rooms” to stop their chatbots from fueling election disinformation ahead of the 2024 midterms, hoping to keep democracy off the menu for bad actors. (New York Times)
Fundraising
- Fal 🇺🇸 (AI): $1.3B (Bessemer Venture Partners, Nvidia, Sound Ventures, T. Rowe Price)
- Shield AI 🇺🇸 (Defense): More than $1B
- Ballistic Ventures 🇺🇸 (Cybersecurity): $490M
- SignSplit (Data rights): $400M (W Group)
- Northwood Space 🇺🇸 (Space): $375M (a16z, DFJ Growth)
- Traversal 🇺🇸 (AI): $120M (Kleiner Perkins, Redpoint Ventures, Khosla Ventures, Sequoia Capital, Battery Ventures, Amex Ventures)
- EloElo 🇮🇳 (Entertainment): $80M (Hornbill Capital, NBCUniversal, MIT Investment Co., Play Ventures, Kalaari Capital, Waterbridge Ventures, Griffin Gaming Partners)
- Tutor Intelligence 🇺🇸 (Robotics): $75M (a16z)
- Norrsken Evolve 🇸🇪 (Venture capital): €62M (European Investment Fund, Saminvest, Smart Cap, Volvo, Fortum)
- 42AI 🇮🇱 (AI): $62.5M (Founders, Infinity Group)
- Lazarus AI 🇺🇸 (AI): $43M (QBE, Mucker Capital, Motivate Ventures, State Farm Ventures, Wave Function Ventures, Indelible Solutions, Joyance Partners, AllegisNL Capital, One Way Ventures, AngelList, Techstars, Plug and Play)
- Corridian 🇺🇸 (Defense): $38M (Point72 Ventures, Balerion Space Ventures, Harpoon Ventures, DCVC, Marlinspike)
- Specific Biologics 🇨🇦 (Biotech): $35M (Hatteras Venture Partners)
- nPhase 🇺🇸 (Healthcare): $30M (Viking Global Investors)
- Larridin 🇺🇸 (AI): $30M (Pelion Ventures)
- Epsilon Health 🇺🇸 (Healthcare): $27.6M (AlleyCorp, Uncork Capital, Renegade Partners, SemperVirens, Jack Altman)
- Guava 🇺🇸 (AI): $12.5M (Acrew Capital, Flourish Ventures, WillowTree Ventures, Clocktower Ventures, Commerce Ventures)
- Journify 🇺🇸 (Advertising): $12M (Al Mada Ventures, Silicon Badia, Shorooq, Bunat Ventures, Du Ventures, Oraseya Capital)
- Sonilo 🇺🇸 (AI): $11M (B Capital, Redpoint)
- Syncere 🇺🇸 (Robotics): $11M (a16z Speedrun, Draper Associates, Physical World, Sequel, SeaX Ventures)
- Clark 🇺🇸 (AI): $11M (Touring Capital)
- Quint Computing 🇩🇪 (Quantum): €9.1M (Vsquared, Quantonation, Nucleus Capital, Faber, Vanagon Ventures, ZOHO.VC, Prof. Mikko Möttönen)
- e2e 🇵🇱 (AI): €7M
- Tumbleweed 🇦🇹 (Spacetech): €6.9M (PactVC, Vanagon Ventures, Prototype Capital, EWOR)
- Bullshot (AI): $7.7M (P2 Ventures, Animoca Brands)
- Conlio 🇩🇪 (FreightTech): €6.4M (Piton Capital, Haufe Group Ventures, WaVe-X, F-LOG)
- Vitroscope 🇳🇴 (Biotech): $7M (Cerberus Ventures, YZR Capital, Arcas Ventures, Golden Egg Check, Devico Invest, Carles Reina, Fàtima Godall, Oskari Pétas, Research Council of Norway)
- CoverGo 🇭🇰 (Insurtech): US$6M (Betatron Venture Group)
- Familiar Therapeutics 🇺🇸 (Biotech): $5M (Pioneer Fund, Icehouse Ventures, BreakTHRU)
- BRIJ Medical 🇺🇸 (Medical technology): $5M (Board of Directors, existing investors)
- Tallia 🇬🇧 (AI): €4M (Outward VC, ICAEW, Portfolio Ventures, Expedite Capital)
- Roleo 🇪🇪 (AI): €2.9M (Practica Capital, Inventure, Markus Villig, Sergei Anikin, Henrik Bohman, Kristina Lilleõis, Lemonade Stand)
- CyberKord 🇮🇹 (Cybersecurity): €2.7M (360 Capital, Plus Partners, Addendum Capital, Vento)
- 1nhaler 🇬🇧 (Healthcare): £2.2M (Archangels, Scottish Enterprise, BBB Investments)
- Granter 🇵🇹 (AI): €1.6M (3XP Global, Celtis Venture Partners, Gateway Ventures, Deel, Bracken Darrell)
- Apolarion 🇨🇭 (Cleantech): €164K (Venture Kick)
- Unitoq 🇱🇻 (Proptech): €155K (Latvian Business Angel Network members)
- Eos Space Technology 🇬🇧 (Space tech): Pre-seed funding round (Hypernova Fund, Antler Korea, Evercurious)
Fund Watch
- Apollo 🇺🇸: $11B (Europe private credit platform, backed by ADIC)
- Allianz Global Investors 🇩🇪: €1.5B (Allianz Infrastructure Credit Opportunities Fund II, infrastructure debt fund, final close)
- Millennium Management 🇺🇸: $1.5B (withdrawn from Troluce Capital Advisors and Axebrook Capital due to losses)
- AE Industrial Partners 🇺🇸: $850M (continuation vehicle for Blue Raven, led by Lexington Partners)
- Creandum 🇸🇪: $750M (Creandum VIII, early-stage VC fund, closed)
- Intera Partners 🇸🇪: SEK 5B (fund closed, seeking Swedish tech acquisitions)
- Robin Capital 🇩🇪: €15M (2nd early-stage fund, closed)
- Evertrue Capital 🇬🇧: $17M (debut venture capital fund, closed)
- Blue Owl Capital 🇺🇸: nearing first close (debut credit secondaries fund)
🔔IPO
- Mahle 🇩🇪 (Auto parts): exploring a $400M IPO of its India business.
- Schott Pharma 🇩🇪 (Pharma): exploring a $400M India IPO of its Indian business.
- Oracle 🇺🇸 (Technology): seeking to raise $10B through a share sale.
- Anthropic 🇺🇸 (AI): targeting $3.5B from Japanese investors in a record $100B IPO.
- Crescent Royalties 🇺🇸 (Energy): confidentially filed for a IPO.
- Mapletree Investments 🇸🇬 (Real Estate): planning a Singapore IPO that could raise at least S$1 billion.
- South Eastern Coalfields 🇮🇳 (Coal): filed for a potential $800M IPO India.
- Kaz Resources 🇰🇿 (Mining): plans a US listing at a $2B valuation.
🧳 Debt
- Romania 🇷🇴: raised $5B in its first bond sale under the new government.
- Meta 🇺🇸: eyeing a $20B cross-border bond sale.
- Alphabet 🇺🇸: raised $6.7B in its second euro bond sale this year.
- Cloud Software Group 🇺🇸: selling $2B of junk notes to refinance debt due in 2029.
- Neros Technologies 🇺🇸: received a $450M loan and equity investment.
🇺🇸 United States
- AvAir 🇺🇸: secured $170M in revolving credit facilities.
❌ Failures
- Alstom 🇫🇷: the $6B-listed train maker may be forced to sell assets to shore up liquidity amid delays delivering German train orders.
- Schaeffler 🇩🇪: the automotive supplier will close five European sites and cut 3,460 jobs, incurring €480M in restructuring costs.
- Cerca Trova Restaurant Group 🇺🇸: the former largest Outback Steakhouse franchisee filed for bankruptcy and plans to sell its assets to Bloomin’ Brands for $26M.
- Karyopharm Therapeutics 🇺🇸: the cancer drugmaker filed for Chapter 11 bankruptcy to sell itself and reorganize.
- Disney 🇺🇸: the entertainment giant is preparing thousands of layoffs as some managers target 20% annual savings.
🎯 For a Few More Minutes…
- 🇬🇧 Jurisfiction. Prosecutor Ravinder Dhillon relied on an AI-invented court decision to justify charges against an 11-year-old, raising alarm over artificial intelligence in British justice. (Le Figaro)
- 🇺🇸 Still Stupid. James Carville, now 82, revisits his iconic "It's the economy, stupid" mantra and reflects on how the political landscape has shifted since 1992. (Wall Street Journal)
- 🇲🇽 Smile Mile. Americans are driving to Los Algodones for dental work, finding cheap crowns and free hotel nights just steps across the border in "Molar City." (France Info)
- 🇺🇳 Watt’s Next. At COP31 in Antalya, leaders will urge a voluntary leap in electrification, betting that more renewables and electric tech can slash costs and emissions faster than skeptics claim. (Financial Times)
🇬🇧 United Kingdom
- 🇬🇧 Word Up. "Mogging" has been named Collins English Dictionary's word of the year as the once-toxic Gen Z slang goes mainstream and playful, outshining its origins. (BBC)
