Over the past 20 years, Canadian federal, provincial, and territorial governments have spent a cumulative $119 billion more than they budgeted for, while taxing Canadians $143 billion more than their budgets intended, a new report shows. Since the 2000-01 fiscal year, these governments have overshot both their expense and revenue targets, according to the report,…
Canadian Governments Have Overshot Spending and Tax Revenue Targets for 20 Years: Report
Construction Spending Unexpectedly Falls in September
WASHINGTON—U.S. construction spending unexpectedly fell in September amid declines in outlays on both private and public projects. The Commerce Department said on Monday that construction spending dropped 0.5 percent after edging up 0.1 percent in August. Economists polled by Reuters had forecast construction spending gaining 0.4 percent. Construction spending increased 7.8 percent on a year-on-year…
Mastercard Profit Beats as Easing Pandemic Curbs Lift Cross-Border Spending
October 28, 2021
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Mastercard Inc. reported better-than-expected profit for the fourth consecutive quarter on Thursday, as easing of pandemic-era restrictions drove a healthy recovery in cross-border spending and lifted domestic spending. Shares were up nearly 3 percent at $345 in premarket trading. After more than a year of staying homebound, customers have started venturing out for travel, dining,…
Visa Beats Profit Estimates on Travel, Online Spending Boom
October 27, 2021
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Visa Inc.’s quarterly profit topped Wall Street expectations on Tuesday, as a recovery in travel and an improving global economic picture drove volume growth at the world’s largest payment processor. But cross-border travel was still well below pre-pandemic levels, Visa said, with regions such as the Asia Pacific remaining closed. “Our business has been on…
AmEx Touts Appeal Among Young Users After Profit Beats on Spending Recovery
American Express Co. reported a higher profit that topped Wall Street estimates for the fourth straight quarter, as higher usage of its cards, particularly by millennial and Gen Z customers, fueled a strong recovery in overall spending. After months of stagnation, credit-card issuers like AmEx are starting to see a turnaround in spending with resumption…
US Construction Spending Flat in August
WASHINGTON—U.S. construction spending was unexpectedly flat in August as an increase in public sector projects was offset by weakness in the private sector. The Commerce Department said on Friday that the unchanged reading in construction spending followed a 0.3 percent gain in July. Construction spending increased 8.9 percent on a year-on-year basis in August. Economists…
The CCP’s Arms Race With the US Will Lead to Its Collapse: Analysis
News Analysis Recently, the Chinese Communist Party (CCP) has been curbing Big Tech companies as well as entertainment celebrities, fining them or forcing them to donate towards what it calls “common prosperity.” The Chinese edition of The Epoch Times has recently invited China experts to analyze the real meaning behind the CCP’s moves, and they believe this…
The CCP’s Arms Race With the US Will Lead to Its Collapse: Analysts
News Analysis Recently, the Chinese Communist Party (CCP) has been curbing Big Tech companies as well as entertainment celebrities, fining them or forcing them to donate towards what it calls “common prosperity.” The Chinese edition of The Epoch Times has recently invited China experts to analyze the real meaning behind the CCP’s moves, and they believe this…
Taiwan to Boost Arms Spending by $8.7 Billion, Warns ‘Severe Threat’ From China
The Taiwanese government announced on Thursday it proposed to bolster its defense spendings by $8.69 billion ($240 billion Taiwan dollars) over the next five years, citing an urgent need to improve military equipment in the face of “severe threats” coming from the Chinese Communist Party (CCP). Taiwan President Tsai Ing-wen, reelected by a landslide last year…
Taiwan to Boost Arms Spending by $8.7 Billion, Warns of ‘Severe Threat’ From China
The Taiwanese government announced on Thursday it proposed to bolster its defense spendings by $8.69 billion ($240 billion Taiwan dollars) over the next five years, citing an urgent need to improve military equipment in the face of “severe threats” coming from the Chinese Communist Party (CCP). Taiwan President Tsai Ing-wen, reelected by a landslide last year…
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