☕️ Great British Dining Experiment

Yard signs? In Animal Crossing? [Advertisement][Advertisement][Advertisement][Advertisement][Advertisement] September 02, 2020 [View Online]( | [Sign Up]( [Daily Brew]( SPONSORED BY [E*TRADE ]( Good morning. Listen, we did a lot of research trying to find something interesting to say about September 2, but to be honest...this may be the most unremarkable day on the calendar. Somebody should do something really awesome today so we have the first anniversary to look forward to next year. One thing we can all agree is very awesome...sharing the Brew with your less-informed friends so you can earn free swag. [Get started here](. MARKETS NASDAQ 11,939.67 + 1.39% S&P 3,526.68 + 0.75% DJIA 28,646.45 + 0.76% GOLD 1,976.50 - 0.11% 10-YR 0.676% - 3.00 bps OIL 42.88 + 0.63% *As of market close - Economy: U.S. assembly lines are [cranking out widgets]( at their best clip since November 2018, according to the latest survey of purchasing managers. The manufacturing sector has expanded for three straight months now. - Markets: Another day, another [record high]( for the S&P and the Nasdaq. Negotiations over a new stimulus bill appear to be restarting after weeks of stalemate. RESTAURANT [The Great British Dining Experiment]( [Big Ben made out of pizza] Francis Scialabba They say the British restaurant scene is uninspired. But the British restaurant subsidy scene? Highly innovative. On Monday, the UK [wrapped up]( a first-of-its-kind “Eat Out to Help Out” policy, which incentivized diners to eat out at restaurants bulldozed by the pandemic. How? By taking a page from Applebee’s. For the month of August, the UK government paid 50% of the bill (up to $13 per person) for people to eat out on Mondays, Tuesdays, and Wednesdays. Alcohol was not included. - Chancellor Rishi Sunak said the scheme would [support]( 1.8 million hospitality sector workers. That sector’s output fell 87% between April and June as a result of pandemic-related restrictions. Did it work? Economists are right about one thing: people do respond to financial incentives. - Diners spent up to 6x more on Mondays than on weekends, according to the finance app Yolt. - In the week ending August 25, British dining bookings were up 31% annually, compared to +21% in Germany and -49% in the U.S., according to OpenTable. - In the first three weeks of the plan, diners claimed 64 million meals (the population of the UK is 67 million).  Zoom out: Some industry boosters say success is more than just numbers, it’s about mindset. The incentive lured people out of their homes and got them to start participating in the economy again. Almost 40% of people who used the subsidy said it was the first time they ate out since restaurants reopened, according to a hospitality trade group. But this story is a lot like a restaurant meal—the bill always arrives at the end. Business Insider [crunched the numbers]( and determined that the incentive cost the government $567 million over the course of the month. Looking ahead...restaurants still face impending doom from cold weather, deferred rent payments, and capacity limits. But many found the “Eat Out to Help Out” scheme so valuable that they’re going to [continue the discount]( on their own dime. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew!&body=Britain's%20Dining%20Subsidy%20Ends,%20but%20Many%20Restaurants%20Pledge%20to%20Continue:%200A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%E2%80%94Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley,%20daily.%20 PLACES [Kenosha: An Introduction]( [Trump touring Kenosha] MANDEL NGAN/AFP via Getty Images Yesterday, President Trump [visited]( Kenosha, the Wisconsin city where a police officer shot Jacob Blake multiple times in the back last month, sparking protests and deadly violence. With the country's attention turned to Kenosha, let's explore the city's economic history as a backdrop for the current turmoil. A quick rundown: Kenosha was once a thriving auto manufacturing hub. But in 1988, the main shop—a Chrysler plant—closed, [taking 5,500 good jobs]( with it. That represented about 10% of the city’s workforce. - Manufacturing is still the largest employment sector, and retailer Jockey International and manufacturing firm Snap-on are both headquartered there. But Kenosha has also become a “bedroom community” for nearby Chicago and Milwaukee, and its population has [spiked 25%]( in the last 30 years. That growth has led to greater racial and economic inequality. How’d the visit go? Trump [spoke]( at a burned-out furniture store and met with local law enforcement. Some of his supporters and Black Lives Matter advocates taunted each other before his arrival. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew!&body=Kenosha,%20WI:%20A%20Primer:%200A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%E2%80%94Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley,%20daily.%20 RESTAURANT [McDonald's Sued for Racial Discrimination]( [McDonald's ] [Michael Rivera](, [McDonald's, US90 Marianna](, [CC BY-SA 4.0]( Yesterday, 52 Black former franchise owners turned up the heat on the McDonald's legal fryer with a [new lawsuit](. The allegations: McDonald’s discriminated against the franchisees by steering them toward its weaker restaurants in inner-cities, which had higher operating costs and lower revenue, effectively setting them up for failure. - According to the suit, the Black franchisees’ annual average sales from 2011 to 2016 were 25% below the national average for McDonald’s owners. - They’re [seeking damages]( between $4 million and $5 million...per store. The plaintiffs together operated over 200 stores. McDonald’s response? The company says the allegations are false and it plans to fight the suit. Zoom out: This is at least the third racial discrimination suit filed against McDonald’s in 2020 alone, despite company claims to promote diversity and equity. It’s also [faced blowback]( for allegedly failing to stymie sexual harassment at its locations and protect restaurant workers from COVID-19. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew!&body=McDonald%E2%80%99s%20Discriminated%20Against%20Black%20Operators,%20Lawsuit%20Alleges%C2%A0:%200A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%E2%80%94Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley,%20daily.%20 SPONSORED BY E*TRADE [We Thought Blue Chips Were for Guac](#) [E*TRADE ]( We were two bowls deep in our chips and guac when we learned that [E*TRADE]( does way more than just trading—and that blue chips refer to more than just salsa scoopers. E*TRADE has a full suite of offerings across investing, retirement, banking, and of course, trading. Wouldn’t know a blue chip stock if it was waving its dividend in your face? Not a problem, because E*TRADE is here to help [support you and your financial goals](. E*TRADE has lots of ways you can [put your money to work]( to help your financial goals—or to just figure out what those goals should be right now. So whether you’re more blue chips and guac or blue chip stocks, E*TRADE is here to help you make smarter decisions around investing, banking, retirement, and more. [Learn about all of E*TRADE’s offerings today](. *Paid Advertisement TECH [A New Hope for Samsung]( [Phone wars] Neal Freyman Yesterday, Samsung unveiled its latest foldable phone, the [Galaxy Z Fold 2](, and it’s a lot to handle. - When unfolded, the display is 7.6 inches, 12% bigger than the first-edition Galaxy Fold. - It’ll also cost $1,999 in the U.S.—the equivalent of five iPhone SEs. So...is anyone going to buy it? Probably not most people, and that’s okay with Samsung. The Galaxy Z Fold 2 is a luxury gadget for wealthy tech enthusiasts, and includes perks like meal delivery from a Michelin-starred restaurant and access to golf courses. But...it does need some people to buy it. So far, the company’s swan dive into foldable devices has been more of a belly flop. Samsung delayed the launch of its first foldable phone last year after tech reviewers found that it was breaking. And its foldable phone shipments are essentially a “rounding error,” [writes the WSJ](, when compared to the broader smartphone market. As for rival Apple, it’s [gearing up]( for its big October hardware launch. You can expect four 5G iPhone models, two new Apple Watches, and over-ear headphones, reports Bloomberg. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew!&body=Samsung%20Unveils%20Latest%20Foldable%20Phone,%20Its%20Biggest%20Yet:%200A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%E2%80%94Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley,%20daily.%20 VIDEOGAMES [Now You Can Tick Off Your Neighbor in Multiple Universes]( [Animal Crossing Politics] Nintendo Know that feeling when you’re trying to build a home on a virtual island without getting swindled by raccoons and think, ”This is great, but I wish I could display my political preference”?  Joe Biden [wants to help](. The Democratic nominee's campaign launched virtual yard signs in Animal Crossing: New Horizon, Nintendo’s megapopular game that was released in March. - It's part of a broader effort to shift the massive campaign apparatus online. Biden has already moved his rallies and fundraising events to the internet. - The campaign is tapping a few gaming influencers to help spread the signs around the virtual universe. How it works: Gamers can [add the signs]( to their islands using QR codes on the Nintendo Switch Online app. Currently, there are four designs to choose from. Yes, one involves aviators. As for Biden’s opponent? Some Animal Crossing gamers have made signs supporting President Trump, but his reelection campaign [said]( they won’t do anything official. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew!&body=Biden%20Campaign%E2%80%99s%20Latest%20Stop:%20Animal%20Crossing:%200A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%E2%80%94Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley,%20daily.%20 WHAT ELSE IS BREWING - [New York City’s]( school district delayed its in-person reopening by 11 days to avert a teachers’ strike and give them more time to prepare. - [Amazon]( posted, then later deleted, two job listings for “intelligence analyst" roles whose responsibilities included monitoring “labor organizing threats.” - [Zoom]( is now worth more than Boeing, GM, Ford, and Starbucks after shares gained 41%. - [Bumble](, the dating app, is reportedly prepping to go public early next year. - [Facebook and Twitter]( suspended a few accounts linked to Russia’s notorious Internet Research Agency. - [Tesla]( shares soared anoth—just kidding. But it did say it’ll sell up to $5 billion in new stock for “general corporate purposes.” SPONSORED BY E*TRADE It takes more than working at a business newsletter to be financially savvy. Luckily, [E*TRADE]( helps us put our money to work. They’re not just for trading—although they’re really good at that. [E*TRADE]( also provides a full suite of financial services like investing, retirement, and banking. [Learn how E*TRADE is here to help support you and your financial goals](. *Paid Advertisement BREW'S BETS Find discount codes: At Milled, which calls itself a "search engine for email newsletters," you can browse for sales, coupons, and discount codes from thousands of retailers. [Check it out](. Fill in the blank: If you stan _____; check out ____. - Elon Musk; [all the books]( Musk has recommended and [a site]( for Elon-ifying your name. - Artificial intelligence; Emerging Tech Brew's [guide]( and [quiz](, this [Chrome extension]( for turning any article into audio, and another extension for [summarizing emails](. - Deep dives; the beginner’s guide to the science of [growing old](, and the ultimate guide to [aerosol transmission]( of COVID-19. FUTURISTIC CITY TRIVIA [Akon City ] KE International This vision for a $6 billion futuristic city in Senegal was [unveiled yesterday]( in the capital of Dakar. The city is the brainchild of a Senegalese-American singer, who said the economy will run on a cryptocurrency and resemble the fictional African nation of Wakanda in Black Panther.  Who is the musical artist? SHARE THE BREW When you [share the Brew]( with your network, you earn free swag like our classic Morning Brew t-shirt. 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