Category: Spending
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U.S. Core PCE Prices Held Steady in July as Consumer Spending Rises
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The latest US economic data suggests that inflation will remain stable in July 2024, while consumer spending will increase, according to figures released today by the Bureau of Economic Analysis (BEA). The core personal consumption expenditures (PCE) price index, a key inflation gauge closely watched by the Federal Reserve, rose…
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U.S. Q2 2024 GDP Revised Higher Thanks to Stronger Consumer Spending
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The second edition of the US GDP reading has been upgraded to show: Faster expansion of 3.0% in Q2 2024 This is up from the initial figure of 2.8%. This also reflects a significant acceleration in economic growth compared to the first quarter of 2024 GDP of 1.4%. The positive…
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Nearly half of 2024 corporate election spending comes from crypto firms
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Editorial by N Rotteveel/iStock via Getty Images Updated 5:40 PM ET: Title changed and details added. Crypto companies – primarily Coinbase (NASDAQ: COIN) and Ripple — have pumped more than $119 million into the 2024 U.S. election so far, according to a report from consumer advocacy group Public Citizen. according…
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‘Big Crypto’ dominates US election spending and exploits consumers, report finds
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Crypto companies have become the dominant force in federal election spending, spending more than $119 million to influence the outcome of the U.S. election. According to a report by According to the nonprofit Public Citizen, nearly half of all corporate money contributed to the US election this year came from…
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Ruto’s spending on development projects sinks to new low
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Data showed that development project financing as a share of total state spending fell to single digits for the first time in more than a decade, reflecting the impact of rising debt servicing costs. Official data from the National Treasury shows that government ministries, departments and agencies spent Sh315.06 billion…
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Strong Consumer Spending And Private Inventories Boosted U.S. GDP in Q2
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The preliminary estimate of US GDP for the second quarter of 2024 showed Economy grows by 2.8%This is much faster than the expected 2.5% increase and almost double the downwardly revised 1.4% growth in the previous quarter! The Ministry of Commerce explained that the acceleration in growth from the first…
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Political storms won’t curb military spending boom, defence firms say By Reuters
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By Joe Brock and Joanna Ploczynska FARNBOROUGH, England (Reuters) – Defence companies are confident that Western governments will continue to boost arms spending to counter Russia and China, shrugging off concerns that political turmoil in the United States and Europe could curb military budgets. Global defence spending hit a record…
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Gen Z is embracing ‘underconsumptioncore’ to limit spending and alleviate anxiety
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Finally, it’s cool to still be wearing the clothes you bought in middle school and showing off your tiny apartment with no art on the walls. Don’t call it bankruptcy, Gen Z says; call it “underconsumption“.” The viral hashtag on TikTok is full of young people bragging about the ways…
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NRA civil trial over gun group leader’s extravagant spending
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The second phase of Civil trial against The National Rifle Association and its top officials are set to begin a meeting Monday in Manhattan, where New York Attorney General Letitia James is seeking to appoint an independent monitor to oversee the powerful gun rights group. Democrats also seek to ban…
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Key senators reach agreement on spending levels for next year, setting up clash with House
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Breadcrumbs Path Links PMN Business Article author: Associated Press Kevin Freaking Published on July 9, 2024 • Read for 2 minutes You can save this article by registering for free here. Or log in if you have an account. Article Content WASHINGTON (AP) — The U.S. Senate plans to increase…
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Shops and restaurants poised for consumer spending boost with labour win and major sports events
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Retailers and the hospitality sector are bracing for a huge increase in consumer spending as Labour’s latest election victory coincides with a big weekend of sporting events, including England’s Euro 2024 match and Andy Murray’s potential final appearance at Wimbledon. Businesses across the UK are set to benefit from a…
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Ruto’s austerity doublespeak: More debts or spending cuts?
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Despite his earlier directive to the Treasury to cut Kenya’s total spending for the current financial year by Sh346 billion, President William Ruto on Sunday claimed that the country’s borrowing will increase by Sh1 trillion after the withdrawal of the Finance Bill 2024. “We have dropped the Finance Bill. What…
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Crypto super PAC gets crucial wins in US primaries, plans significant spending for general election
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Fairshake PAC plans to spend more than $100 million in the general election to support pro-crypto lawmakers. Super PACs funded by major crypto companies scored big victories in recent congressional primaries. The Fairshake political action committee, created to support pro-crypto industry candidates, plans to spend… More than $100 million In…
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Crypto super PAC gets crucial wins in US primaries, plans significant spending for general election
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Fairshake PAC plans to spend more than $100 million in the general election to support pro-crypto lawmakers. Super PACs funded by major crypto companies scored big victories in recent congressional primaries. The Fairshake political action committee, created to support pro-crypto industry candidates, plans to spend… More than $100 million In…
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Israel’s Defense Ministry spending NIS 30b on local procurement
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Since the start of the war in October, the Israeli Ministry of Defense has spent NIS 30 billion, including value-added tax, on domestic purchases, according to information from the Defense Ministry’s Production and Procurement Department, seen by Globes. More than half of this amount was spent on defense equipment, ammunition…
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Treasury proposes 5% spending cut to tame deficit
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Sources told Globes that during a meeting at the Ministry of Finance headed by the Minister of Finance yesterday, as part of a series of discussions on the state budget for 2025, the main proposal that was put forward was an overall 5% reduction in the state’s general budget. Budgets…
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JSS interns, suppliers and MPs major losers in Treasury’s spending cuts
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The government has postponed plans to convert the employment terms of 46,000 junior high school (JSS) trainees to permanent, pensionable terms, as the Treasury rationalized the budget after a parliamentary committee dropped some controversial clauses in the finance bill. Part of the standby plan If the National Assembly does not…
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Britons Curb Spending Despite Drop in Grocery Inflation, Reports Kantar
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Britons have cut back on their supermarket shopping and traditional summer purchases due to recent bad weather, despite a further decline in grocery price inflation, according to a report by Kantar. In the four weeks to June 9, supermarket prices were 2.1% higher than a year ago, down from the…
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US federal budget crosses grim milestone as interest payments overtake defense spending
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It has been the United States for a long time The largest defense budget in the worldSpending this year is expected to approach $900 billion. However, this spending is quickly being outpaced by the fastest-growing portion of federal outflows: interest payments on the national debt. to The first seven months…