Estee Lauder, L’Oreal suffer as China’s duty-free spending falls
UNABLE to travel overseas during the Covid-19 pandemic, Chinese consumers sparked a shopping boom in the southernmost province of Hainan, lured by the tropical island’s plethora of…
Tag
Spending
Musk will reduce political spending, committed to being Tesla CEO in 5 years’ time
Elon Musk said he plans to significantly cut political spending and is committed to staying on as Tesla’s CEO for another five years, aiming to address concerns about balancing his role at…
Elon Musk will do a 'lot less' political spending in the future
Elon Musk said Tuesday that he is going to reduce his future spending on politics in the United States. Source link
Elon Musk Says He’s Stopping Political Spending After Losing Key Race
Elon Musk claimed Tuesday that he plans to back off from buying American elections, following his failed attempt to purchase a Wisconsin Supreme Court seat earlier this year. While…
China banks cut deposit rates to aid margins, drive spending
MAJOR Chinese banks cut deposit rates again, in the latest efforts to preserve their shrinking profitability and drive consumers to spend more amid a flagging economy. Lenders including…
Trump to end spending on Biden-era digital equity law, calling it 'racist and illegal'
President Trump said he is ending the Biden-era Digital Equity Act, intended to provide digital service to lower-income communities, to save the country billions of dollars. Source link
Bill Gates speeds up charitable spending in an updated plan to give away most of his wealth by 2045
In honor of its 25th anniversary, the Gates Foundation made a major announcement. On Thursday, chair Bill Gates said he would give away most of his fortune over the next two decades.…
Trump’s 2026 budget plan calls for sharp spending cuts. Here’s what to know
President Donald Trump’s 2026 budget plan would slash non-defense domestic spending by $163 billion while increasing expenditures on national security, according to White House statements…
Mastercard profit beats expectations on resilient consumer spending
MASTERCARD beat Wall Street estimates for first-quarter profit on Thursday as customers kept up spending on its card network despite the economic uncertainty sparked by US President Donald…
McDonald’s reports a significant sales decline in the U.S. as anxious customers pull back on spending
McDonalds released its earnings report for the first quarter of 2025 early this morning. According to the report, U.S. comparable sales decreased by 3.6% from the previous year, primarily…
In an Uncertain Economy, McDonald’s Sees Spending Decline
Even value meals aren’t enough to get anxious consumers to spend. Despite efforts to entice customers to its restaurants, McDonald’s saw its sales slip in the first three months of the…
Meta quarterly profit climbs despite big cloud spending
Tech giant Meta on Wednesday (Apr 30) reported quarterly profits that were well above expectations, brushing aside market worries that its heavy investments in cloud computing and…
Employers are spending more on GLP-1 drugs, but the ROI is already here
GLP-1 weight loss treatment can be pricey. But employers who cover the treatments could end up saving on employee medical expenses overall. The finding is according to a new analysis of…
Visa earnings top estimates as spending on network stays strong
The company also says at the investor day that it expects its value-added services to account for more than half of total revenue in coming years Visa’s fiscal second-quarter…
AmEx profit rises on resilient card spending
Provisions for credit losses were US$1.2 billion in the quarter, compared with US$1.3 billion a year earlier American Express reported a 6 per cent rise in first-quarter profit on…
Consumer Spending Rebounds in March, But Will It Last?
U.S. retail sales grew in March after two straight months of declines, in an apparent stocking up by Americans to beat looming tariff-related price hikes. Total retail sales, excluding…
Trump tariff threats have Americans ‘doom spending.’ Here’s why that’s bad
From the rising cost of eggs and the staggering cost of housing, the constant chaos from mass government firings to the tariff threats against Canada and Mexico, Americans are struggling…
Payments firm Block’s profit misses estimate on underwhelming holiday spending
BLOCK’S fourth-quarter profit fell short of estimates as spending growth during the holiday season and gains from a post-election surge in bitcoin lagged expectations, sending the payment…
DOGE Puts $1 Spending Limit on Government Employee Credit Cards
The new spending restrictions apply to both SmartPay travel and purchase cards. Travel cards are widely used across the government (for example, most army reservists have these cards). The…
U.S. Households Ramp Up ‘Doom Spending’ in Preparation for Possible Pandemic, Tariff Impacts
The latest consumer research from CreditCards.com reveals a disturbing trend: U.S. households are “doom spending” and stockpiling in preparation for another pandemic and tariffs. This most…
Why some school districts are spending big on schools tailor-made for 4-year-olds
Jefferson Early Learning Center bears little resemblance to elementary schools many adults recall attending in their earliest years. The classrooms have child-size boats and construction…
McDonald’s meal deals are slowly winning customers back to U.S. stores, but people are spending less
After a year of dominating U.S. headlines for everything from a major E. coli outbreak to a visit from Donald Trump, McDonald’s today announced its fourth-quarter and full-year 2024…
Lawmaker demands answers to reports Musk seeking Treasury payment access
Democrat lawmakers have demanded an explanation from the Trump administration as to why tech entrepreneur Elon Musk and his Department of Government Efficiency (DOGE) is reportedly seeking…
Karen Bass: LA Mayor Cut Fire Department Funding by Nearly $18M and Diverted It to Homeless Spending Months Before Wildfires Wiped Out Cities
Los Angeles Mayor Karen Bass came under intense criticism on Wednesday after it was revealed that she cut the city's Fire Department budget by $17.6 million just ahead of this week's…