Consumer Spending Jumped in April Inflation Accelerated
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Are consumers pulling back on spending? It depends on which CEO you ask
Companies like PepsiCo have warned about a weak low-income consumer, while Delta Air Lines and Chipotle have benefited from their high-income customer bases.CNBC - Business -
Are consumers pulling back on spending? It depends which CEO you ask
With higher prices and elevated interest rates stubbornly sticking around, Chipotle burrito bowls and European vacations are still on the table for many consumers.NBC News - Top stories -
Walmart and Other Retail Earnings Show Inflation Still Pushing Consumers to Seek Deals
Low prices drive consumers to shop at the big box chain, while fewer people are buying fancy coffees or taking on home improvement projects, as Starbucks and Home Depot report sales declines.Inc. - Business -
Fed’s Barkin says consumers are driving inflation. Here’s what they’re willing to pay more for.
The service sector “has changed their view” and believes consumers will accept higher prices and are going to raise them until households balk.MarketWatch - Business -
Ryanair Announces Buyback as Profits Jump
The low-cost carrier will buy back $761 million worth of shares after its core earnings for the fiscal year rose 34%, and said it expected passenger numbers to increase depending on how well Boeing handles its delivery delays.The Wall Street Journal - World -
Flores to take part in NFL's accelerator program
Brian Flores will be among the participants in the NFL's fifth accelerator program, an event hosted by the league to strengthen the pipeline of diverse candidates for front office and coaching positions.ESPN - Sports - NFL -
Here's the deflation breakdown for April 2024 — in one chart
Deflation is the opposite of inflation: It's when prices decline. That has largely occurred for goods such as furniture, appliances and cars in the past year.CNBC - Business -
New spending fight emerges
Business & Economy The Big Story McConnell and Democrats on collision course over spending Senate Republicans are on a collision course with Democrats over government funding, as the latter insists nondefense spending programs receive equal ...The Hill - Politics -
Dow hits 40,000 for the first time as bull market accelerates
Robust corporate profits and steady U.S. economic growth are driving stocks to record highs.CBS News - Top stories -
Kyndryl and Nvidia team to enable and accelerate enterprise generative AI adoption
Kyndryl and Nvidia join forces to empower businesses with the tools and expertise to develop and deploy successful generative AI projects.VentureBeat - Tech -
Olympians April Ross and Alix Klineman hope their return to AVP inspires moms
April Ross and Alix Klineman have earned Olympic gold medals. Their next big goal is to juggle raising babies while competing on the AVP tour.Yahoo Sports - Sports -
China's consumption and investment slowed in April, while industrial output beat expectations.
China’s consumption and investment slowed in April, while industrial output beat expectations.The Wall Street Journal - World - China -
House Dems outraise House GOP with record April fundraising month
The House Democrats’ campaign arm outraised their Republican counterpart in April with a record $12.4 million brought in during the month. The Democratic Congressional Campaign Committee’s (DCCC) total is the highest ever in the month of April ...The Hill - Politics -
Biden campaign raises $51M in April, has $192M on hand
President Biden’s campaign raised $51 million in April and has $192 million on hand as it enters June, the campaign announced Monday. The $51 million haul falls short of the Trump campaign's $76 million fundraising total for the month of April. ...The Hill - Politics - Joe Biden -
BT’s CEO says she ‘loves to squeeze’ short sellers as shares jump
UK’s biggest telecoms group rises 17% as Allison Kirkby announces strategy and raises dividendFinancial Times - Business -
Did Billie Eilish just jump into the race for song of the summer?
Pop superstar Billie Eilish's new album 'Hit Me Hard and Soft' is due Thursday night. One breezy track already feels like a hit.Los Angeles Times - Entertainment -
Canada Goose jumps 16% after the company reports growth surge in China
Shares of Canada Goose soared 16% on Thursday after the apparel company reported better-than-expected revenue and earnings for its fiscal fourth quarter.CNBC - Business - China -
Will Chinese auto investment jump Joe Biden’s tariff walls?
China’s EV manufacturers looking to produce in Europe and the US will be next stage of trade war gameFinancial Times - World - Joe Biden -
Ether price jumps ahead of SEC’s ETF decision as speculation on approval rises
Ether’s price jumped Monday afternoon, leading a rally for major cryptocurrencies three days before the U.S. Securities and Exchange Commission has to decide whether to approve VanEck’s application for a spot ether exchange-traded fund.MarketWatch - Business -
How much money the U.S. spends on war
American military spending reached $916 billion in 2023, which accounts for more than a third of the world's total military expenditure.CNBC - Business -
We're Spending Billions on This Work-From-Home Indulgence
Without the boss nearby, who can resist placing that Amazon order?The Wall Street Journal - World -
Downtown Restaurant Spending Drops in Weekday Lunch Crunch
Data frompayment companySquare showrestaurants in business districtsare losing middaybusiness to inflation and hybrid work policies, but many customers nowspendmore on weekends and at happy hour.Inc. - Business -
How fast is UK inflation falling?
Market Questions is the FT’s guide to the week aheadFinancial Times - World - United Kingdom -
NFL to host accelerator program at upcoming league meetings, aimed at increasing diversity in coaching ranks
Vikings DC Brian Flores is among the 27 coaches who have been invitedCBS Sports - Sports -
Consumer bureau case divides SCOTUS conservatives
Welcome to The Hill's Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story Conservative justices split on CFPB ruling The Supreme Court’s most conservative justices were divided this week over a decision to ...The Hill - Politics -
Corporate insiders at these companies are telling us that consumers are cruising
Executive and director buying supports these 9 travel, gaming and recreational boat stocks.MarketWatch - Business -
Despite Inflation Concerns, Markets Keep Rising
Stocks on both sides of the Atlantic set records as investors foresee interest rates moving in one direction: down.The New York Times - Business -
U.K. Inflation to Settle Below 2% Target
Inflation in the U.K. could soon be “too low,” beneath Bank of England forecasts that expect it to rebound after a fall in April, Capital Economics’ chief U.K. economist Paul Dales says.The Wall Street Journal - World - United Kingdom -
Surging Hospital Prices Are Helping Keep Inflation High
Hospital prices last month notched their highest increase in 13 years. The hikes are a reason U.S. inflation remains elevated.The Wall Street Journal - Business -
Canadian Inflation Expected to Show Further Cooling
Canada’s inflation report for April is likely to reinforce that conditions warrant a quarter-point interest rate cut, Royal Bank of Canada’s Nathan Janzen and Carrie Freestone say.The Wall Street Journal - World -
Phoenix is beating the rest of the country on inflation — on paper anyway
Phoenix is closer to winning the war on inflation than most other cities.NBC News - Top stories -
Tariffs Push Up Costs. But Not Always Inflation
Biden’s decision to raise tariffs on roughly $18 billion of goods from China has revived a long-running debate in economics over who ultimately pays such tariffs.The Wall Street Journal - World -
UK set for slower inflation than Eurozone and US
Drop in household energy bills set to push price growth close to Bank of England targetFinancial Times - Business - United Kingdom -
Australia unleashes rent and energy relief as inflation bites
Cost of living crisis divides country between homeowners and rentersFinancial Times - World - Australia -
With Ukraine Funded, New Fight Emerges in Congress Over Pentagon Spending
Mitch McConnell and other top Republicans want more federal money for the military. But Democrats say domestic programs must get an equivalent boost.The New York Times - Top stories - Ukraine -
Chinese shoppers are buying less than they used to — but they're spending on experiences
Yahoo News - World -
McConnell, Collins on collision course with Democrats over spending parity
Senate Republicans are on a collision course with Democrats who are insisting that nondefense spending programs receive equal treatment with defense programs. Senate Republican Leader Mitch McConnell (Ky.) says he won’t accept Democrats’ demand to ...The Hill - Politics -
Is Hunt right that Labour’s spending plans would leave a £38bn black hole?
Labour criticises a dossier released by the Conservatives that adds up how much their spending commitments would cost.BBC News - Top stories -
Australian PM’s Support Rises After Big-Spending Budget
Yahoo News - World - Australia -
Congress sets stage for ‘side deal’ spending fight with White House
Congress is setting the stage for another partisan government-funding fight, as conservatives look to chip away at a previous “side deal” struck between Speaker Kevin McCarthy (R-Calif.) and the White House aimed at boosting nondefense dollars. ...The Hill - Politics