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World shares, US futures sink on jitters over Fed moves

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World shares, US futures sink on jitters over Fed moves

Associated Press

Global stock markets are falling sharply Monday, with the Hong Kong exchange having its biggest loss since July and some markets in Europe seeing their steepest declines in nearly a year. Futures for the S&P 500 were down 1.8%.

Investors are watching to see whether the Federal Reserve will take any action to address the impact of rising prices on businesses and consumers. Investors in Hong Kong were concerned by financial problems in the Chinese property market.

Many markets in Asia were closed for holidays and analysts said the thin trading accentuated volatility. Hong Kong’s benchmark sank 3.3%. Germany’s DAX dropped 2.9% to 15,038.17 and the CAC 40 in Paris shed 2.7% to 6,393.04. if both indexes close at those levels, it will mark their steepest declines since last October.

Worries are mounting, also, about the U.S. debt ceiling. House Democrats said Friday they planned to move this week to suspend the cap on the government’s borrowing authority, and the White House ratcheted up pressure on Republicans by warning state and local governments that severe cuts lie ahead if the measure fails in the Senate.

Futures for the Dow industrials gave up 2% and futures for the Russell 2000 index of small companies dropped 2.6%.

The yield on the 10-year Treasury note slipped to 1.31% from 1.38% on Friday, another sign investors are turning to safer investments.

Heavyweight Hong Kong property companies and banks lost ground on persisting concerns over the potential for ripple effects from the financial troubles of Chinese developer Evergrande.

The company was expected to miss interest payments, as ratings companies forecast it may default on its debt. Its shares fell 10.6% on Monday.

Henderson Land Development dropped 13% and New World Development lost 12% amid reports that China would tighten oversight over the property sector in Hong Kong.

The Fed is due to deliver its latest economic and interest rate policy update on Wednesday. The central bank has said higher costs for raw materials and consumer goods are still likely to be temporary as the economy recovers, but analysts worry that higher prices could stick around and dent companies’ bottom lines while also crimping spending.

Wall Street ended last week on a feeble note, with the S&P 500 index losing 0.9% to 4,432.99, its second straight weekly loss.

In other trading on Monday, U.S. benchmark crude oil lost 2.6% to $69.97 per barrel in electronic trading on the New York Mercantile Exchange.

Brent crude, the standard for international pricing, lost 2.3% to $73.66 per barrel.

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Ravens are field-goal favorites vs. Steelers in Week 13 road trip

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Ravens are field-goal favorites vs. Steelers in Week 13 road trip

The Ravens are field-goal favorites over the Steelers ahead of their game Sunday in Pittsburgh, according to Las Vegas sportsbooks.

After a tense home win Sunday night over the Cleveland Browns, the Ravens (8-3) are favored by 3 ½ points over Pittsburgh, which is coming off its worst loss ever under longtime coach Mike Tomlin. The Bengals routed the Steelers, 41-10, in Cincinnati on Sunday, the second straight game in which Pittsburgh has allowed over 40 points.

The Steelers (5-5-1) could also be without star outside linebacker T.J. Watt, who was placed on the reserve/COVID-19 list Monday after reportedly testing positive for the coronavirus. Watt has 12 ½ sacks in nine games this season, the second most in the NFL.

According to Covers.com’s historical odds, which date to the 2006 season, the Ravens have never been favored by more than 3 ½ points in Pittsburgh under coach John Harbaugh. They were 3 ½-point favorites in 2019, when Pittsburgh started quarterback Mason Rudolph in place of the injured Ben Roethlisberger. They were also three-point favorites in 2015 and 2012, when Michael Vick and Byron Leftwich started for the injured Roethlisberger, respectively. The Ravens won all three games by a field goal.

Roethlisberger is expected to start Sunday, but he’s coming off a poor outing. He finished 24-for-41 for 263 yards, one touchdown and two interceptions Sunday in Cincinnati, and his QBR (28.3) was the second lowest of his season.

The Ravens, who lead the AFC North and have yet to play Pittsburgh this season, have fared well against division opponents recently. They’re 9-2 against the spread against the Steelers, Browns and Bengals over their past 11 meetings. Pittsburgh, meanwhile, is 1-6 against the spread in its past seven home games overall, according to CBS Sports.

The Steelers, who swept last season’s series after the Ravens took the 2019 series, lead the all-time rivalry, 30-24. Because of illness and scheduling circumstances, Ravens quarterback Lamar Jackson has started just twice against Pittsburgh, winning in 2019 in Heinz Field and losing in Baltimore last year.

The over/under for Sunday’s game is 44 points.

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Misfortune follows Von Miller from Denver to Hollywood

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Misfortune follows Von Miller from Denver to Hollywood

After Von Miller left his Russian sable hat and the tears behind in Denver following his trade from the Broncos to the Los Angeles Rams, he cracked, “I went to bed 4-4 and woke up 7-1.”

Talk about a Hollywood ending for the Super Bowl 50 MVP.

He figured he had Super Bowl 56 in his sights just like he did Cam Newton all afternoon all those years ago when he kept separating the football and the Lombardi Trophy from the Carolina quarterback’s grasp.

An encore, however, seems to be slipping away from Miller’s clutches, just like so many quarterbacks of late.

L.A. has been more dystopia than utopia for Miller, even with Odell Beckham Jr. working his way out of cloudy Cleveland and teaming up with him in sunny Southern California.

The Rams haven’t won since Miller’s arrival.

The drought began with a 28-16 loss to Tennessee at home when Miller sat out with a bum ankle that also forced him to miss his final game for the Broncos. He made his nondescript Rams debut in a 31-10 loss at San Francisco a week later, and finally made his mark in L.A.’s 36-28 loss at Green Bay on Sunday.

Unfortunately, it wasn’t for a sack — he hasn’t had one of those since sharing a takedown of Ravens QB Lamar Jackson with McTelvin Agim way back on Oct. 3 — but for his late helmet-to-jaw hit on Aaron Rodgers that drew a 15-yard penalty.

Miller has just half a sack since September, when he had four sacks and won the AFC’s Defensive Player of the Month award in his return from an ankle injury that cost him all of 2020.

He has lost the last six games he has played in, and his former teammates in Denver are riding high after winning three of four without him, including a victory over Washington that he sat out, a signature victory at Dallas and a thumping of the Chargers on Sunday that tightened up the AFC West.

While the Rams (7-4) are still sitting pretty in the NFC playoff picture despite being two games behind the Cardinals in their division, the Broncos (6-5) can surge into the AFC West lead with a win Sunday night at Kansas City (7-4).

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Harry Potter-inspired pub Slytherin to Belmar shopping district

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Harry Potter-inspired pub Slytherin to Belmar shopping district

Raise your butterbeers — a new Harry Potter-inspired bar is opening in Lakewood.

The owners of Denver restaurant group Handsome Boys Hospitality plan to open Muggles Pub at 7260 W. Alaska Drive in the Belmar shopping district.

The British pub chain Baker Street Pub and Grill operated in the space until late 2018 and then became Winston’s Pub & Grill, which closed shortly thereafter in 2019.

“When we took over the lease and walked in it just screamed London pub,” said Handsome Boys Hospitality founder Josh Schmitz. “And for us, in everything we do, we always want to add an extra twist. So, the Harry Potter-inspired theme made perfect sense. Coming out of COVID, it’s not just a good cocktail that will bring you out of your house anymore — it’s an experience as well.”

Schmitz said he’s somewhat limited by what words he can use at the bar due to trademarks. But he said Muggles Pub — “muggles” refers to non-wizards in the series by author J.K. Rowling — will feature floating candles reminiscent of Hogwarts’ famous dining room, butterbeer-like drinks and other cocktails and Hogwarts house flags. It will serve concession fare like hot dogs and nachos.

The bar will be open 4 p.m. to midnight on weekdays and until 2 a.m. on weekends.

Another Harry Potter-inspired pop-up bar called The Wizard’s Den debuted in Denver last January at 435 W. Colfax Ave. in Denver’s Central Business District and stayed open through mid-March. The immersive bar is back again starting Dec. 1.

Courtesy of Handsome Boys Hospitality via BusinessDen

Muggles Pub is taking over the former Baker Street Pub and Grill space.

Handsome Boys Hospitality signed a lease for their 6,400-square-foot space in early November, and Schmitz said they expect to open Dec. 1. Josh Kruse, former general manager of Uptown’s The District, will be Muggles Pub’s new general manager.

“We have a special event permit for the month of December, and we’re partnering with Mayor Adam Paul and the city of Lakewood to continue special event permits until our full liquor license comes through,” Schmitz said. “We were approached with the idea of Belmar being the new hot downtown of Lakewood, and they knew we were the only group that could get something like this up and running this fast.”

Seattle-based real estate investment firm Bridge33 Capital purchased Belmar in June with plans to “increase the vibrancy” of the shopping center.

Josh Sampson, owner of Good Baby Management, a Denver real estate and brand development company, is also opening a Holiday Bazaar across from Muggles Pub at 439 S. Teller St. from Dec. 3-19 with more than 80 craft vendors, fashion trucks, holiday-themed pop-up bars and live entertainment, according to Belmar’s website.

Good Baby Management owns Big Wonderful, a pop-up beer garden and festival, and Garage Sale, a Larimer Square vintage clothing and vinyl shop.

“I’m a west side kid to begin with,” Schmitz said. “I grew up going to Baker Street and was raised on the west side of the town. So, this is really full circle for me and goes back to my roots. To do something for that side of town is really exciting.”

Schmitz, 35, launched Handsome Boys Hospitality with his longtime friend and business partner Nick Brown during the pandemic and has since grown it from five to 70 employees.  The restaurant group has offices at 1409 Larimer St., and Brandon Jundt, founder of Denver-based Wynkoop Financial, is a partner in the business.

1638286130 102 Harry Potter inspired pub Slytherin to Belmar shopping district

Courtesy of Handsome Boys Hospitality via BusinessDen

Naughty List, a Christmas-themed pop-up bar at 1403 Larimer St.

The restaurant group owns three themed concepts in Larimer Square: Hidden Gems, a Wizard of Oz-themed ice cream shop at 1411 Larimer St.; Drunken Bakery, an Alice in Wonderland-themed bakery on its right; and Naughty List, a Christmas-themed pop-up bar at 1403 Larimer St., which was previously Spirits, a Halloween-themed bar for the month of October.

Naughty List will be open from Black Friday until New Year’s Day, and Schmitz hopes to open another concept permanently in the space afterward.

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