Here we go again. This week, the Senate unveiled, honed and passed its version of the “Big Beautiful Bill,” and it’s a fiscal monstrosity. What was already an oversized mess in the House has been supersized into a $4-trillion ode to unseriousness. This isn’t tax reform. It’s a bipartisan piñata stuffed with pork, gimmicks and…
Elon Musk made several last-ditch arguments on X, formerly Twitter, ahead of Saturday’s planned vote in the Senate that will look to advance President Donald Trump‘s “Big Beautiful” spending bill in a key vote. Why It Matters Musk, who had spent months as a close Trump ally during his time leading the Department of Government…
MOSCOW (Reuters) -NATO’s decision to increase defence spending will not significantly affect Russia’s security, Foreign Minister Sergei Lavrov said on Thursday. NATO allies on Wednesday agreed to raise their collective spending goal to 5% of gross domestic product over the next decade, citing what they called the long-term threat posed by Russia and the need…
The Co-op will stop sourcing carrots from Israel and a number of other products from other “countries of concern” such as Russia. The supermarket chain said it would stop sourcing produce, where possible, from countries where there are “internationally recognised community-wide human rights abuses and violations of international law”. The 17 countries on its list…
TOKYO — China’s retail sales expanded more than expected in May, boosted by holiday spending at the beginning of the month and the early start of the “618” online shopping festival. The gauge of household spending rose 6.4% last month, the fastest pace since December 2023, according to data published by the National Bureau of…
May Day Holiday Signals Mixed Results for Chinese Consumer Trends Chinese Consumer Confidence Tested Amid Growing Travel and SpendingThe recent May Day holiday has emerged as a significant indicator of consumer sentiment in China, showcasing a blend of heightened travel activity and modest spending. The five-day celebration, traditionally a peak time for family trips, witnessed…
As tariffs push the price of goods in the US higher, the secondhand clothing industry could reap the benefits. President Donald Trump first imposed a 10% tariff on Chinese goods in February. Since then, both countries have been stacking up retaliatory levies on each other. As it stands, the US tariff on goods imported from…
Hong Kong’s restaurants expect a modest 5 per cent rise in business at most during the “golden week” holiday despite visitor numbers increasing by a third over the first two days, as mainland Chinese tourists have tightened their purse strings, industry leaders have said. Hong Kong welcomed 567,928 visitors on Thursday and Friday, the first…
Hong Kong’s restaurants expect a modest 5 per cent rise in business at most during the “golden week” holiday despite visitor numbers increasing by a third over the first two days, as mainland Chinese tourists have tightened their purse strings, industry leaders have said. Hong Kong welcomed 567,928 visitors on Thursday and Friday, the first…
There’s an old joke in economics that stock markets have predicted nine out of the past five recessions. The point being that predicting a recession solely based on the stock market is difficult. “They can turn around on a dime. They can turn around in a heartbeat,” said James Angel, a finance professor at Georgetown…