WASHINGTON—U.S. construction spending increased less than expected in December as a solid rise in private projects was partially offset by a sharp decline in outlays on public projects. The Commerce Department said on Tuesday that construction spending rose 0.2 percent after advancing 0.6 percent in November. Economists polled by Reuters had forecast construction spending gaining…
White House to Host GM, Ford Among CEOs at Meeting on Spending Push
January 26, 2022
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WASHINGTON—The White House plans to host the chief executives of major U.S. companies including auto and tech sector firms on Wednesday to discuss President Joe Biden’s signature $1.75 trillion Build Back Better legislation. General Motors CEO Mary Barra, Ford Motor CEO Jim Farley, Salesforce co-CEO Marc Benioff, Microsoft President Brad Smith, Etsy CEO Josh Silverman,…
Make a Budget Line for Fun Money
Dear Dave, I finally paid off all my debt except for my house, and I have an emergency fund of six months of expenses saved. It feels great to be in control of my money, but I am afraid I might lose control again and end up back where I started before I began following…
PBO Report Questions Need for Liberals’ Planned Stimulus Spending
OTTAWA—Prime Minister Justin Trudeau is giving no indications of plans to rein in government spending after a critical report by the parliamentary budget officer questioned the Liberals’ case to spend tens of billions in planned stimulus. The Liberals had promised up to $100 billion in economic stimulus, subject to a series of spending guardrails to…
Japan November Household Spending Set for First Rise in 4 Months, Omicron Poses Risks: Poll
TOKYO—Japan’s household spending likely rose in November for the first time in four months while consumer inflation in Tokyo area is expected to have hit a 22-month-high in December, a Reuters poll showed. Low coronavirus cases have boosted consumption and the broader economy throughout the last quarter of 2021, but the recent spread of the…
Big Spending, Little Scrutiny for Liberal Government
The Liberal government wants Parliament to approve billions in new spending to extend COVID-19 relief, but with the holiday recess scheduled to begin Dec. 17, its report on how it spent over $600 billion in the last fiscal year, which ended March 31, was not provided until Dec. 14. Finance Minister Chrystia Freeland’s April budget…
Volkswagen Ramps Up E-mobility Spending to $59 Billion by 2026
FRANKFURT—Volkswagen on Thursday said it would ramp up spending for battery-powered electric vehicles by around 50 percent to 52 billion euros ($59 billion) by 2026 as part of the group’s far-reaching transformation. The investment is part of Volkswagen’s new revolving 5-year spending plan, which foresees total investments of 159 billion euros in the 2022–2026 period,…
Japan Economy Contracts 3.6 Percent in Third Quarter as Virus Hits Spending
December 8, 2021
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TOKYO—Japan’s economy contracted at a 3.6 percent annual rate in July-September as a wave of coronavirus infections crimped travel and other activities, the government said Wednesday. The estimate for the last quarter, downgraded from an earlier report of a 3.0 percent contraction, reflected weakness in consumer spending and trade, the government said. In quarterly terms,…
Amazon Exec Says Omicron’s Impact on Holiday Spending Uncertain
NEW YORK—A senior Amazon.com Inc executive said it remains too early to predict how the Omicron coronavirus variant will impact consumer spending during the holiday season but suggested that shoppers will press ahead for now. “It’s very early in the process of understanding what’s happening with the new variant,” said Dave Clark, chief executive of…
Home Depot Beats Sales Estimates as Home Improvement Spending Holds Strong
November 16, 2021
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Home Depot Inc. beat quarterly sales estimates by nearly $2 billion on Tuesday as Americans, buoyed by a strong housing market, hired more builders and handymen to complete large home improvement projects, boosting demand for tools and materials. Professional contractors have been rushing back to Home Depot’s stores as they look to upgrade their toolkits…
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