This report is from this week's CNBC's UK Exchange newsletter. Like what you see? You can subscribe here. Yesterday saw the start of the Cheltenham Festival, the jump racing calendar's biggest annual event. The four-day festival — it was extended from three days in 2005 — will attract more than 160,000 racegoers in a champagne and Guinness-fueled celebration of Britain's second-most-popular spectator sport. The festival draws a unique crowd to the rolling Cotswolds hills. Streetwise lads from