FirstFT: US consumers continue to spend, spend, spend

Also in today’s newsletter, North Korea fires its longest-ever test missile, and the activists ready to challenge the election result

World - Financial Times - 5 hours ago

US GDP rose at a 2.8% rate in third quarter on strong consumer spending

Final reading before presidential election was shy of expectations, but shows biggest economy is in robust health

Business - Financial Times - 19 hours ago

Uber shares slide on slowing bookings growth

Forecast for customer spending on ride-hailing app fell slightly short of Wall Street’s estimates

Business - Financial Times - 4 hours ago

U.S. economy grew 2.8% last quarter, powered by consumer spending

Consumer confidence soared in October, signaling that Americans may continue to open their wallets.

Meta Earnings Show Revenue Increase, Even as Spending Spree Continues

The Silicon Valley company, which owns Facebook, Instagram and WhatsApp, said it does not plan to slow down its investments anytime soon.

Business - The New York Times - 18 hours ago

Battle of the billionaires: the mega rich spending to swing the US election

A small number of big spenders are having an outsize effect on fundraising in the 2024 presidential vote

World - Financial Times - 4 days ago

Debt rule to change to fund major projects

Government claims the move contrasts with former PM Liz Truss's controversial mini-Budget.

Cabinet fightback: the revolt over spending

Plus, the English justice system in crisis

World - Financial Times - October 18

Reeves eyeing £40bn in tax rises and spending cuts

Filling the £22bn financial "black hole" would only be enough “to keep public services" still, she told a meeting.

Companies curb UK advertising spending ahead of the Budget

Marketing budgets fail to grow for the first time in 14 quarters, trade body finds

Business - Financial Times - October 16

Ministers complain to Starmer over spending cuts

Some Cabinet members are alarmed at the scale of cuts being sought to plug a rumoured £40bn gap.

Why Meta and Snap are spending billions on AR glasses

Meta CEO Mark Zuckerberg and Snap CEO Evan Spiegel are betting big that augmented-reality glasses will replace the smartphone.

Business - CNBC - October 24

Harris to spend election night at Howard University

Vice President Harris will spend election night at Howard University, her alma mater in Washington, D.C., a source familiar told The Hill. Harris primary home is in California, but she has chosen ...

Politics - The Hill - Yesterday

Chris Mason: A change-making Budget and a moment of jeopardy

The government's fate will depend on whether it can make things better, says political editor Chris Mason.

UK Budget as it happened: Rachel Reeves raises tax, spending and borrowing

Taxes rise as chancellor delivers the first Labour budget since 2010

Business - Financial Times - Yesterday

The NHS and education are big winners in Reeves’ spending plan

But some Whitehall departments including the Home Office face real terms cuts to their budgets

World - Financial Times - 19 hours ago

The Papers on the Budget: 'Spending power' and 'nightmare on Downing Street'

Reactions to the Budget, which saw large rises in both tax and public spending, lead the papers.

Workers are warned Budget tax rises will hit their pay

Economists say tax rises in the Budget will mean employers have less to give as pay rises.

Meta and Microsoft Won’t Stop Spending on AI

Both tech giants reported strong third quarters but their stocks fell anyway.

Business - Inc. - 1 hour ago

Demis Hassabis’s drug discovery start-up accelerates spending to ‘solve’ diseases

Losses widen at Isomorphic Labs, as new Nobel Prize winner pushes forward with effort to use AI in healthcare

Business - Financial Times - October 14

Cruz calls out McConnell-aligned group for not spending 'a penny' in Texas

Texas Sen. Ted Cruz (R) vented his frustration with the Senate Leadership Fund, a super PAC aligned with Senate Republican Leader Mitch McConnell (Ky.), for not spending any money in his ...

Politics - The Hill - October 14

UK must show ‘swagger’ to attract spending, investment minister says

Keir Starmer ‘supports’ rather than ‘degrades’ businesses, Poppy Gustafsson tells FT

Business - Financial Times - October 15

Reeves aims to close £40bn funding gap as she plans tax rises in Budget

Figure is significantly more than the £22bn fiscal hole the government previously identified

Business - Financial Times - October 15

Brazil Ministers Renew Push to Sell Lula on Spending Cuts

World - Yahoo News - October 15

Russian man rescued after spending 67 days adrift

Officials say Mikhail Pichugin was found with the bodies of his brother and his 15-year-old nephew.

Starmer and Reeves face down cabinet revolt over spending cuts

Ministers complain about Treasury approach as prime minister and chancellor finalise October 30 Budget

Business - Financial Times - October 16

Holiday shoppers plan to spend more while taking on debt this season

Leaning on credit cards, or even buy now, pay later, to purchase holiday gifts will come at a high cost if there are missed or late payments.

Business - CNBC - October 16

Amex sees strong discretionary spending, but stock retreats after solid 2024 run

The company says new member benefits are resonating with younger generations.

Business - MarketWatch - October 18

Here's How Many Hours Netflix Users Spend On The Platform Every Day

People watch a lot of Netflix, but just how much do they watch? As part of Netflix's latest earnings briefing , the company revealed the number of hours the average paid subscriber watches: ...

Tech - GameSpot - October 18

This Museum Is Old. But With $75 Million to Spend, Why Is It So Dingy?

Decades of mismanagement and financial neglect have turned the New York State Museum, a trove of national treasures, into a dreary place.

Top stories - The New York Times - October 19

Hawaii teenager rescued after spending night clinging to kayak in ocean

US Coast Guard and off-duty lifeguard rescued Kahiau Kawa, 17, after he became separated from his school’s paddling team. A teenager in Hawaii was recovering on Friday after spending more than 11 ...

World - The Guardian - October 19

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