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'Hellraiser' is back with a new reboot of the terrifying horror franchise — here's how to watch the return of Pinhead

Thu, 10/06/2022 - 1:20pm

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Jamie Clayton as Pinhead in "Hellraiser."
  • "Hellraiser," a reboot of the classic '80s horror movie, premieres October 7 on Hulu. 
  • The new film follows a woman who becomes the target of murderous beings from another dimension.
  • Hulu plans start at $7 a month and go up to $13 a month for ad-free streaming.

"Hellraiser," a new take on the terrifying horror franchise, premieres October 7 on Hulu. The reboot of Clive Barker's classic film presents a reimagining of Pinhead, the sadistic otherworldly being with nails sticking out of their face.

In "Hellraiser," a young woman accidentally unleashes a massacre when she solves an ancient puzzle box that releases the Cenobites, a group of tormented supernatural entities. The woman must find a way to put them back in the box before she becomes the victim of their excruciating reign of terror.

Check out the trailer for 'Hellraiser' (2022)

Jamie Clayton, best known for starring in Netflix's "Sense 8," plays the hell-bent torturer Pinhead. She is joined by Odessa A'zion, Adam Faison, Drew Starkey, Brandon Flynn, Goran Visnjic, and Hiam Abbass. 

Pinhead first appeared as a nameless character in Clive Barker's 1986 novella, "The Hellbound Heart." "Hellraiser" is directed by David Bruckner and written by Ben Collins and Luke Piotrowski. Clive Barker, Keith Levine, and David S. Goyer serve as producers of the film, among others. 

How to watch 'Hellraiser' (2022)

You can watch "Hellraiser" on Hulu starting October 7. The movie is a Hulu original, so it won't be available to stream on any other services. 

Hulu's ad-supported plan currently costs $7 a month, but a $1 price increase is coming October 10. Meanwhile, Hulu's ad-free plan is $13 a month, but will increase to $15 a month on October 10.

The Hulu app is available on most mobile devices, media players, and smart TVs from major brands. Check the Hulu website to confirm if your device is supported.

Can I watch 'Hellraiser' (2022) for free?

You can watch "Hellraiser" for free if you sign up for a Hulu trial. Hulu currently offers new subscribers one month of streaming for free. After your first 30 days, Hulu will renew for the current rate unless you cancel.

Is 'Hellraiser' (2022) a remake?

"Hellraiser" is not a remake in the traditional sense, but is instead more of a reboot or reimagining of the 1987 horror film of the same name. The movie's characters and the specifics of its plot are different from the original "Hellraiser," which was written and directed by creator Clive Barker. That said, the new film follows the same basic premise.

Is 'Hellraiser' (2022) worth watching?

Early reviews of "Hellraiser" are mostly positive. As of October 6, the film holds an "80% Certified Fresh" rating on Rotten Tomatoes. Critics praise the movie for its creepy gore, so fans of the franchise's spine-chilling scenes should be pleased by this new take on the horror story.

Where can I watch the previous 'Hellraiser' movies?

If you're looking to check out the other movies in the "Hellraiser" franchise, you're in luck. Below, we've detailed where you can watch every "Hellraiser" film:

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A margarine brand is going back to its old recipe after customers revolted, calling the new formula with less vegetable oil 'disgusting'

Thu, 10/06/2022 - 1:19pm
  • Angry customers left hundreds of one-star reviews on Smart Balance's new formula.
  • The company agreed to reverse changes and return to the old formula.
  • The formula change is an example of "skimpflation," substituting cheaper ingredients without alerting customers.

Consumers just got a win in the battle against inflation by pushing back on an ingredient change in Smart Balance's butter substitute.

Conagra recently changed the recipe for its Smart Balance butter substitute from 64% vegetable oil to just 39% "to make [it] easier to spread," a spokesperson told Insider. The change was noticed by customers, who left hundreds of angry reviews on the Smart Balance website. 991 of the 1008 reviews for the butter substitute are just one star, with complaints about the formula change.

"Hard pass on this, going to search for an alternative product, super disappointed," one customer wrote. Another said "Product change makes this absolutely disgusting and tasteless! Do not waste your money on it!", with hundreds more with similar complaints.

Conagra took notice of the outcry from customers and agreed to reverse course.

"We have heard the feedback from consumers and have decided to return to the previous recipes in the coming months," the spokesperson told Insider.

The formula change is just one recent example of a trend called "skimpflation," coined by consumer advocate and blogger Edgar Dworsky. Dworsky defines the term as when products are "reformulated in some way, usually with less of the expensive components and often by substituting cheaper ingredients."

Skimpflation goes hand in hand with shrinkflation, another sneaky way companies try to save money. With shrinkflation, manufacturers make subtle changes to products,  like making candy bars sold in multipacks smaller than ones being sold individually, or changing the shape of their products so you can barely notice the difference in weight while paying the original price.

Inflation is at a 40 year high, according to the Consumer Price Index, which the US Bureau of Labor Statistics uses to monitor inflation. Inflation, rising labor costs, and growing costs for ingredients are all pushing companies to engage in shrinkflation and skimpflation, though this case shows that customers have some power to fight back against these changes.

Do you have a story to share about a retail or restaurant chain? Email this reporter at mmeisenzahl@businessinsider.com.

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The Federal Reserve will continue to raise interest rates 'until the labor market cracks,' Bank of America says

Thu, 10/06/2022 - 12:59pm
A "Now Hiring" sign is displayed on a shopfront on August 5, 2022 in New York City.
  • The Federal Reserve will want to see the US labor market shedding jobs before it stops raising interest rates, Bank of America said Thursday. 
  • To fight inflation, policymakers are hiking rates "with the expressed purpose of rebalancing the labor market," the investment bank said. 
  • The Fed may not stop raising the fed funds rate until March 2023, according to BofA. 

The Federal Reserve in its campaign to cool inflation will want to see the US labor market shedding jobs before it stops raising interest rates, Bank of America said Thursday. 

The investment bank's view was expressed in a note by rates strategist Meghan Swiber before the Labor Department on Friday publishes its September nonfarm payrolls report. Economists polled by Econoday were, on average, looking for the addition of 250,000 jobs and a steady unemployment rate of 3.7%. 

Recent tightening in financial conditions and last week's bond market intervention by the Bank of England prompted markets to temper expectations about the Fed's terminal rate, or the peak level of the fed funds rate before the US central bank begins to cut it down. The Fed last month indicated a terminal rate of 4.6%, while the current range sits at 3% to 3.25% after five rate hikes this year. 

"Clients have asked if we foresee an imminent shift in stance from the Fed … We think these concerns are misplaced and that the Fed's job is still far from over," said Swiber. "The Fed will keep hiking until the labor market cracks. To us this means the Fed is confident that payrolls growth has reached an inflection point and unemployment is on an upward trajectory." 

A change in the month-over-month reading to negative from positive would constitute a payrolls inflection point. The Fed usually stops hiking rates before payrolls prints are negative, the strategist said. "We think that this cycle could be different since the Fed is hiking with the expressed purpose of rebalancing the labor market (similar to what was observed in the 80s)." 

The Fed's latest Summary of Economic Projections indicated the Fed sees the unemployment rate increasing to 4.4% by the end of 2023.

"While the Fed is likely to slow the pace of hikes once it hits 4% in November, we think the data is unlikely to warrant a pause until those negative payrolls prints are almost in hand. In our view this is not until March of next year," said Swiber.

BofA's economists expect a terminal rate of 4.75% to 5.00%, which was currently about 30 basis points above consensus expectations. The gap stems from uncertainty around whether the Fed will raise rates by 75 basis points again in November and from questions over how long the hiking cycle will continue. 

She said further upside surprises in labor data will likely allow the market to keep pushing the pricing of the terminal rate higher. "[We] continue to recommend clients stay short front-end US Treasurys." The front end of the Treasury curve is sensitive to surprises in payrolls reports during rate-hiking cycles, she noted. 

The 2-year yield was up 6 basis points to 4.21% on Thursday, and this year it jumped above 4% for the first time since 2007. US equities this year have dropped into a bear market as the Fed embarked on an aggressive path of rate hikes to pull down inflation, which was 8.3% in August.

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A cap on the price of Russia oil would give countries more leverage to negotiate better prices from suppliers, US official says

Thu, 10/06/2022 - 12:38pm
Russia's President Vladimir Putin (L) meets with Foreign Minister Sergei Lavrov at the Bocharov Ruchei state residence in Sochi, March 10, 2014.
  • A cap on the price of Russian oil would give countries more leverage to negotiate better prices from suppliers.
  • A Treasury official added that the US had "positive" talks with China and India, major buyers of Russian crude.
  • G7 nations are ironing out details about the cap, such as penalties for countries who don't adhere to it.

A cap on the price of Russian oil would give countries more leverage to negotiate better prices from suppliers, a US Treasury official said this week.  

"We can have a very successful price cap without a single barrel traded under the price cap. If what we've done is provide leverage for those importers to get the best discount possible, we're perfectly fine with that," US Treasury assistant secretary Ben Harris.

The comment, first reported by Reuters on Wednesday, comes shortly after US officials said they had made some headway in discussions with China and India on the plan to cap Russian oil prices, with Harris describing recent talks as "positive" at an energy conference in London. 

China and India have been among Russia's top oil customers since the start of the war, ramping up purchases of Russian crude at steep discounts while the West has shunned energy supplies from the country. 

The G7 nations are still working out details of the price cap, but currently plan on barring countries who are not compliant with the price cap from insurance, brokerage, finance, and other part of the energy commodities trade. Those penalties will be another incentive for countries to purchase Russian crude within set limits, keeping trade affordable and accessible to energy-strapped Europe. 

Though the level of the price cap itself has not been decided, officials have previously floated a range of $40-$60 a barrel, and Harris added that Russian oil will be capped at prices that still incentivizes suppliers to come to the market.

"We want to provide economic incentives for Russia to continue to produce."

But Russia has threatened to slash output if Western nations move forward with the price cap. Russia's deputy prime minister warned that the measure ""will primarily hit the ones who are actually doing it," and that Russia would refuse to sell crude to countries participating in the price cap. 

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A CEO says he's been 'praying for inflation' because it means he can raise prices

Thu, 10/06/2022 - 12:33pm
Meaney told Wall Street analysts last week that high prices help the company’s margins.
  • Iron Mountain CEO William Meaney told investors that inflation is a good excuse to raise prices.
  • For months, companies have reassured shareholders that they are able to pass inflation along to customers.
  • However, some companies such as Iron Mountain and FedEx are still posting lackluster profits amid record-high inflation.

One CEO just said what some people have suspected, but few have admitted out loud: Company leaders can use inflation as a reason to raise prices and boost profits.

The problem is, it doesn't always work.

That seems to be the case with William Meaney, CEO of Boston-based information management and data center company Iron Mountain, who told Wall Street analysts on September 20 that high prices help the company's margins. It's why he has been "doing my inflation dance praying for inflation," according to audio of the investor meeting. 

"Where we've had inflation running at fairly rapid rates, we're able to price ahead of inflation," Meaney said, referring to making price increases at a higher rate than inflation. He said that raising prices covers their costs, and "flows down to the bottom line."

Meaney referenced companies like FedEx that have been implementing the same sort of price hikes — although the shipping giant has been dealing with issues of its own stemming from the economic slowdown, having just pulled its full-year revenue forecast.

Similarly, Meaney's company hasn't been exceeding expectations, either. It's not posting Fedex losses, but its revenue growth missed expectations according to Iron Mountain's most recent report, and the company's net income was down nearly 30% year-over-year between its second quarter of 2021 and its second one of 2022. Iron Mountain did not respond to Insider's request for comment.

Meaney's comments come as the financial success of many larger corporations — and their shareholders — is under scrutiny. Robert Reich, Bill Clinton's Secretary of Labor, slammed "excessive corporate power" for fueling inflation this week. 

"Congress and the administration need to take direct action against profit-price inflation, rather than rely solely on the Fed to raise interest rates and put the burden of fighting inflation on average working people who are not responsible for it," Reich wrote.

While small businesses struggle and Americans take on debt to cope with historic inflation, some major corporations are reporting record numbers. Corporate pretax profits surged 25% year over year to $2.81 trillion, the Bureau of Economic Analysis said in March. According to the Federal Reserve Bank of St. Louis, that's the largest annual increase since 1976. 

CEO salaries are continuing to rise, with the median pay for top CEOs up by $20 million last year. For nearly a year, companies have been reassuring their shareholders that they're passing off the cost of higher prices on to customers, and some people worry "corporate greed" is a driver of inflation.

But Meaney's remarks signal that the boon companies are getting from inflation isn't true across the board. Retailers like Target and Walmart, for instance, are feeling the effects.

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