Accenture warns Musk’s Doge-led spending crackdown is hitting revenues

Accenture is DOGE's first corporate casualty as shares dive on warning that contracts will be cut

Shares of Accenture slid more than 7% on Thursday after the consulting firm said tighter federal spending efforts have begun to weigh on its revenues.

CNBC - 6h

Musk’s cuts fail to stop US federal spending hitting new record

Government spending rose to $603bn in February despite hyperactive efficiency drive, data shows

Financial Times - Mar. 12

Top shipping broker Clarksons says war and Trump tariff fears have hit revenues

Shares in FTSE 250 company fall by nearly a fifth as geopolitical turmoil pushes down freight rates. Business live – latest updates The world’s biggest ship broker has warned that geopolitical ...

The Guardian - Mar. 10

Exclusive: Every McDonald’s in Britain warned of crackdown over staff sexual abuse

The warning from the UK's equality watchdog comes after the "extremely serious" allegations uncovered by the BBC.

BBC News - 6d

Tencent profit surges 90% as it touts AI revenue boost and ramps up spending

Tencent on Wednesday posted a fourth-quarter beat on top and bottom line driven by a surge in gaming and advertising revenue.

CNBC - 1d

Crackdown on government credit cards to cut 'wasteful' spending

Purchases include £2,500 spent at a women's shoe shop in Barbados and £1,200 on luxury coffee pods.

BBC News - 3d

Mar 17: CBS News 24/7, 4pm ET

Major retailers warn Americans are pulling back on spending; Severe weather hits the South

CBS News - 3d

Deloitte predicts global revenues in women’s sport will reach $2.35bn in 2025

Basketball leaps ahead of football and set to hit $1bn But Fifa study shows stark reality facing many clubs Revenues in elite women’s sports are growing significantly faster than previously ...

The Guardian - 2d

Elon Musk's SpaceX, Tesla lobby Trump trade representative on tariffs

Tesla warned of the hit to its bottom line from tariffs, while SpaceX complained that foreign trade barriers affect its Starlink internet satellite service.

CNBC - 6d

Ocasio-Cortez warns Senate Democrats over advancing stopgap spending measure

Rep. Alexandria Ocasio-Cortez (D-N.Y.) urged her Democratic colleagues in the Senate to vote against the House-passed stopgap spending measure, warning them to be weary of "procedural games." “It ...

The Hill - Mar. 12

Europe courts US scientists fleeing Trump crackdown

Cambridge university among institutions seeing chance to hire talent unsettled by US spending cuts

Financial Times - 2d

X sees major outages as Musk claims 'massive cyberattack' hit platform

Three separate outages appeared to hit Elon Musk's X social media site Monday, as the tech titan claimed it was suffering a "massive cyberattack."

NBC News - Mar. 10

Elon Musk Suggests DOGE Team Will Scrutinize Social Security and Entitlement Spending

In an interview with Larry Kudlow, Elon Musk claimed that fraud in Social Security and other major programs was “the big one to eliminate.”

The New York Times - Mar. 11

Marlins reportedly think they found a CBA loophole against MLBPA criticism over low payroll

The CBA mandates that revenue-receiving teams spend 150% of the funds they're awarded

CBS Sports - 2d

Delta warns on profit as economic ‘uncertainty’ dents US demand

Shares tumble more than 12% after-hours as carrier cuts quarterly revenue and earnings outlook by half

Financial Times - Mar. 10

What Does a Shutdown Have to Do With the Budget or Elon Musk? Here’s a Guide.

A short-term spending bill, a 10-year budget plan and Musk’s cost-cutting team are all progressing at once.

The New York Times - Mar. 11

Aguilar: Democrats still working to unite party against GOP spending bill

The head of the House Democratic Caucus said Tuesday that party leaders are still working to unite their troops against the Republicans’ spending bill. Rep. Pete Aguilar (D-Calif.) bashed the GOP ...

The Hill - Mar. 11

Delta, Southwest, American Airlines Cut Forecasts, an Early Alarm About Consumer Spending

The revised revenue projections suggest that flagging economic confidence has started to hurt travel, which can be an indicator for other industries.

The New York Times - Mar. 11

Europe’s defence spending spree risks debt crisis, warns Dutch politician

Pieter Omtzigt says EU’s €800bn military build-up could push up debt and interest rates

Financial Times - 2d

Ulta issues weak guidance, citing consumer uncertainty, rising competition and company missteps

Ulta Beauty warned that profits and revenue will be worse than Wall Street expected in the year ahead.

CNBC - Mar. 13

Mass blackouts in storm-hit eastern Australia

Residents are warned power may not return for days as further heavy rainfall is forecast.

BBC News - Mar. 9

New political spending signals Elon Musk's huge role in the GOP is still growing

After having sunk more than a quarter-billion dollars into the 2024 election and then taken a central role in President Donald Trump’s administration, billionaire Elon Musk is demonstrating that ...

NBC News - 5h

Education Department investigating dozens of universities after DEI warning letter

The Education Department announced Friday it is investigating more than 50 colleges and universities over what it called "racial preferences" in academics or scholarships, a move that comes amid ...

The Hill - 6d

Democratic leaders amp up pressure on Senate colleagues to oppose GOP spending bill: ‘Stand with us’

The leading Democrats in the House are ramping up the pressure on Senate Democrats to oppose the GOP’s spending bill, warning that the proposal would slash crucial public services to vulnerable ...

The Hill - Mar. 12

Congressional Black Caucus members condemn spending bill as ‘blank check’ for Trump, Musk

Members of the Congressional Black Caucus have condemned the House-passed spending bill and vowed to vote against it when it comes up in the Senate, even as other Democrats say they’ll support ...

The Hill - 6d

Musk calls Sen. Kelly a 'traitor' over trip to Ukraine, Kelly hits back

Elon Musk called Democratic Sen. Mark Kelly a "traitor" in a post on X after Kelly posted that he had visited Ukraine over the weekend.

ABC News - Mar. 10

Top budget Democrat: GOP spending bill hands ‘a blank check to Elon Musk’

Rep. Rosa DeLauro (D-Conn.), the top Democrat on the House Appropriations Committee, slammed the new House Republicans’ six-month stopgap funding bill, claiming it is a “blank check” for tech ...

The Hill - Mar. 8

Tesla warns Trump administration it is ‘exposed’ to retaliatory tariffs

Elon Musk’s electric-car maker says levies could make it costlier to produce vehicles in the US

Financial Times - Mar. 13

FirstFT: Musk’s government spending cuts fail to halt rising costs

Also in today’s newsletter, Putin’s frontline visit and a new FT film on Nvidia’s rise

Financial Times - Mar. 13

An Elon Musk stablecoin? Democrats warn of a Big Tech crypto takeover.

Stablecoin bill could lead to a “privatization of the dollar,” according to crypto skeptic Sen. Elizabeth Warren.

MarketWatch - Mar. 12

Act 'now or never' to hit 6,500 teachers target, report warns

A new report says teacher vacancy posts are at a record high as schools' recruitment problems persist.

BBC News - Mar. 13

BMW warns of €1bn profit hit from global tariff war

Carmaker’s earnings down a third last year on weak demand from China and global recall

Financial Times - 6d

Europe’s boosting defense spending. One company just lost all of its stock-market gains this year.

QinetiQ shares lost all their gains this year after a profit warning.

MarketWatch - 3d

Tesla vehicles vandalized across US since Musk began White House role

Tesla vehicles, dealerships and charging stations have been hit with vandalisms, fires and protests since Elon Musk began his role at the White House.

ABC News - Mar. 12

NHS England chair warns on upheaval at top ranks of health service

The Department of Health and Social Care is also expected to be hit by an efficiency drive

Financial Times - Mar. 11

Tesla backer says Musk must reduce Trump work, as 46,000 Cybertrucks recalled

Dan Ives warns company is in ‘brand tornado crisis moment’ as it is removed from Vancouver auto show. Business live latest updates Tesla and Elon Musk are embroiled in a “brand tornado crisis ...

The Guardian - 16h

American travelers are booking fewer domestic flights in another warning sign for the economy

Americans’ spending worries and shortcomings are translating into turbulence for major airlines, and coming at a time where recession fears are growing.

MarketWatch - Mar. 12

BBC hit by £1.3mn bill for Huw Edwards scandal

Broadcaster’s spending under scrutiny as it enters talks with the government over the future of the licence fee

Financial Times - Mar. 10

White House says Trump won't cut Social Security, Medicare after Musk remarks

The White House on Tuesday asserted President Trump would not cut Social Security or Medicare after tech billionaire Elon Musk's comments about the need to examine entitlement spending gained ...

The Hill - Mar. 11

Accenture warns Musk’s Doge-led spending crackdown is hitting revenues

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