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Stocks

“Roblox shares drop 22% as company cuts annual bookings forecast on muted player spending”

“…Roblox now expects full-year bookings to be between $4 billion and $4.10 billion, down from its earlier forecast of $4.14 billion to $4.28 billion. Its second-quarter bookings forecast of $870 million to $900 million was also below estimates…” https://www.cnbc.com/2024/05/09/roblox-shares-drop-nearly-30percent-as-company-cuts-annual-bookings-forecast-on-muted-player-spending.html

Business

“Microsoft says cloud AI demand is exceeding supply even after 79% surge in capital spending”

“…In its earnings report on Thursday, Microsoft said capital expenditures jumped 79% from a year earlier to $14 billion. The company is spending much faster than it’s increasing revenue — sales climbed 17% in the period. Even with all that investment, Microsoft… Continue Reading…

Economy

“Global military spending hit all-time high in 2023 after 7% jump, report finds”

“Global military spending reached a record high of $2.4 trillion in 2023 amid a “global deterioration in peace and security,” the Stockholm International Peace Research Institute said Monday. The figure marked a 6.8% increase from 2022 and the sharpest year-on-year… Continue Reading…

Economy

“IMF Steps Up Its Warning to US Over Spending and Ballooning Debt”

“The International Monetary Fund leveled an unusually direct criticism at US policymakers Tuesday, saying the country’s recent standout performance among advanced economies was in part driven by an unsustainable fiscal policy…” https://www.bloomberg.com/news/articles/2024-04-16/imf-steps-up-its-warning-to-us-over-ballooning-debt The U.S. has unsustainable debt. It doesn’t take a rocket… Continue Reading…

Economy

“Fears Sadiq Khan will bring in pay-per-mile road taxes after spending £3m on project”

“Sadiq Khan spent £3 million of taxpayers’ money planning a pay-per-mile road charging system, amid fears he could bring the scheme in if he is re-elected. Transport officials were working on a driver charging project as recently as January, even though… Continue Reading…

Economy

“Jamie Dimon believes U.S. debt is the ‘most predictable crisis’ in history—and experts say it could cost Americans their homes, spending power and national security”

“…Jamie Dimon says Washington is facing a global market “rebellion” because of the tab it is racking up, while Bank of America CEO Brian Moynihan believes it’s time to stop admiring the problem and instead do something about it. Elsewhere The Black Swan author Nassim Taleb says the… Continue Reading…

Economy

“Consumer spending growth will slow in 2024, economist predicts — it’s ‘not necessarily sustainable’”

“…Recent reports already show signs of strain. In the last year, credit card debt spiked to a record high, surpassing $1.08 trillion, according to the latest quarterly report from the Federal Reserve Bank of New York. Now, more cardholders are carrying debt from month to… Continue Reading…

Economy

“Online holiday spending jumps nearly 5% to record, Adobe Analytics says”

“Online spending rose 4.9% year over year, setting a record for e-commerce during the holiday season, as shoppers pounced on discounts and leaned on buy now, pay later to cover more of their purchases, according to Adobe Analytics. Sales totaled $222.1… Continue Reading…

Economy

“Consumer spending fell in October, according to new CNBC/NRF Retail Monitor tracking card transactions”

“… …” https://www.cnbc.com/2023/11/13/consumer-spending-fell-in-october-according-to-new-cnbc/nrf-retail-monitor-tracking-card-transactions.html This article is badly written. Anyway this is not good. Usually retail goes up during this time of the year.

Economy, Stocks

“The spending slowdown is coming. The stock market should brace for impact.”

“ … Dwindling savings, weak wage gains, and the return of student loan payments mean people have plenty of reason to tighten their belts for the second half of the year — and experts say that could ultimately curb gains in the stock market.… Continue Reading…