Spending

Retail group with 4,800 stores worldwide expects drop in profits this year amid ‘muted market’Business live – latest updatesThe sports fashion retailer JD has warned that profits will fall this year amid a “muted market” hit by weaker spending by young people and concerns about the Middle East conflict.The company, which runs 4,800 stores worldwide including the JD, Blacks and Millets chains in the UK, said it expected profits of between £750m and £850m in the year ahead, after reporting £852m in the year to the end of January. Continue reading...

Parties accused of ‘fiscal denial’ and failing to tell voters the scale of the challengeThe next Scottish government will need to make “really difficult” spending decisions soon after taking power, including tackling its large public sector pay bill, senior economists have said.Economists with the Fraser of Allander Institute, at the University of Strathclyde, believe the manifestos published by Scotland’s political parties during the campaign failed to tell voters about the true scale of the challenge. Continue reading...

• US GDP expanded at a 2.0% annualized rate in Q1 2026, rebounding from 0.5% in the prior quarter, driven by government spending, exports, and investment. • Consumer spending stayed strong in March, bolstered by rising personal income and consumption. • Manufacturing PMI hit its strongest since May 2022 per S&P Global, though possibly due to inventory buildup rather than demand.

First quarter output, driven by AI investment and government spending, rose as oil shock fuels inflation fearsUS gross domestic product (GDP) accelerated 2% in the first three months of 2026, though consumer spending is slowing as the war with Iran continues to impact energy prices.The last GDP reading for the fourth quarter of 2025 showed that US economic growth slowed to a 0.5% pace, largely due to a contraction in government spending after massive layoffs of federal workers last year. The federal government is down 355,000 workers, or 11.8% of the workforce, since October 2024, according to the Bureau of Labor Statistics. Continue reading...

• A majority of Americans express concern over rising healthcare costs and support increased federal tax spending to address these challenges, according to the Axios/Ipsos American Health Index released March 17, 2026. • The poll demonstrates bipartisan support for government action on healthcare affordability, reflecting widespread concern among the U.S. public about escalating medical expenses. • Americans also show increased trust in government handling of childhood vaccination decisions, signaling broader public confidence in health policy interventions.

Minister tells Guardian Australia despite substantial changes to disability scheme, it will remain one of best support services ‘anywhere in the world’Follow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastMark Butler has defended the government’s decision to trim the NDIS just days after announcing $53bn in new defence spending, with the health minister conceding Australians may be “uneasy” but insisting it would remain one of the best support services “anywhere in the world”.The Coalition looks likely to back the proposed changes, despite alarm from the Greens and some in the disability sector about the 160,000 participants expected to be removed by 2030 and changes to who can access the scheme. Continue reading...

Shell Australia says campaign needed to ‘counter-balance’ claims by levy advocates – but Ed Husic urges industry ‘do not spend millions defending the indefensible’The gas giants are mounting a multi-million dollar advertising campaign to fight against a new export tax, prompting Labor MP Ed Husic to accuse the industry of “defending the indefensible”.Shell Australia is among half-a-dozen oil and gas companies contributing around $1m to an Australian Energy Producers (AEP) campaign that attempts to justify the amount of tax the industry pays, a parliamentary inquiry heard on Wednesday. Continue reading...

The trend has been accelerated by the US-Israel war on Iran, leaving households – and cafe owners – glum, surveys suggestFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastFor many coffee drinkers, takeaway orders are changing from a habitual purchase to an occasional treat, as elevated petrol prices and other living costs leave households feeling glum.This rapid shift in behaviour has disappointed cafe owners and surprised economists, raising an uneasy question: if takeaway coffee sales are falling, is the economy next? Continue reading...

Health minister faces backlash from states as he announces major changes to scheme ahead of May budgetGet our breaking news email, free app or daily news podcastNational disability insurance scheme service providers will be required to undergo mandatory character checks and eligibility rules will be tightened further for children under 18, as Labor moves to curb growth in the $50bn program.But the health minister, Mark Butler, faces a backlash from state counterparts as he announces major changes on Wednesday, with Queensland accusing federal Labor of walking away from responsibilities to families dependent on long-term care. Continue reading...

Head of UN’s humanitarian agency frustrated $2bn a week cost of conflict comes amid dramtic cuts to aid budgetThe $2bn (£1.5bn) a week that Donald Trump was spending on his reckless war in Iran could have funded saving more than 87 million lives, the head of the UN’s humanitarian agency, Tom Fletcher, said on Monday.He also warned the normalisation of violent language, such as threatening to bomb Iran back to the stone ages, was very dangerous since it encourages every wannabe autocrat to use similar threats and tactics, including the destruction of civilians and civilian infrastructure. Continue reading...

• AI integration is delivering measurable spending momentum for Google Cloud, with enterprise technology research data confirming AI as a primary driver of cloud adoption. • The ML/AI segment is pulling Google's broader cloud business forward, explaining significant improvements in Google Cloud's performance over the past two years. • This trend indicates that AI is not merely a marketing narrative for Google but a concrete factor influencing enterprise purchasing decisions and cloud strategy prioritization.

Aviation fuel costs remain significantly elevated amid the US and Israel’s ongoing war with IranSign up for the Breaking News US email to get newsletter alerts in your inboxAir Canada has announced a temporary suspension of flights from Toronto and Montreal to New York’s John F Kennedy airport, citing rising fuel prices.The move comes amid growing concerns that airlines worldwide may scale back services as aviation fuel costs climb in the wake of the US and Israel’s ongoing war with Iran, which entered a fragile ceasefire earlier in April. Although Iran announced on Friday that the strait of Hormuz had reopened, helping ease oil prices, fuel costs remain significantly elevated after weeks of disruption. Continue reading...

The defence minister insists that increases in spending did not happen because of thinktanks, retired generals ‘or washed-up bureaucrats’Get our breaking news email, free app or daily news podcastIf there’s anyone who knows just how much pressure Donald Trump is heaping on allies to lift defence spending, it’s Richard Marles.The message was received loud and clear when he met his US counterpart, Pete Hegseth, in Singapore nearly a year ago. Continue reading...

MPs and peers say pitting defence and welfare against each other risks losing public support for increased spending on the militarySenior Labour figures have warned that Rachel Reeves must find alternative ways to increase military spending rather than slashing welfare, saying it risks public support for investment in defence.Pressure has been mounting from Labour backbenchers for the Treasury to urgently agree the defence investment plan (Dip) after George Robertson, a former Nato secretary general, said there was a “corrosive complacency” on defence funding. Continue reading...

The new strategy to be unveiled by Richard Marles will see defence spending rise to about 2.4% of GDP – but US president has urged allies to spend 3.5%Get our breaking news email, free app or daily news podcastLabor will spend an extra $53bn on defence over the next decade, using the nation’s latest military blueprint to create new special investment programs to fund increases in capability using private capital.The defence minister, Richard Marles, will unveil the new national defence strategy on Thursday, as well as detailing a new integrated investment program for military capability, boosting the current budget by $14bn over the next four years, forward estimates period. Continue reading...

Treasury minister James Murray hits back at George Robertson’s criticism over military budgetUK politics live – latest updatesA Treasury minister has said balancing welfare and defence spending “is not a zero-sum game”, amid stark warnings that the UK will have to increase its military budget to ensure national security during global volatility.James Murray, the chancellor’s deputy, said the government was pushing ahead with the biggest sustained increase in defence investments since the cold war, but he would not say when it would publish its delayed defence investment plan. Continue reading...

Data from 22 police forces shows spending has more than tripled since the ban came into force in 2024Police spending on kennels and veterinary bills in England and Wales has more than tripled since the XL bully ban came into force, with some forces recording an almost 500% spending increase since the new law was enacted in 2024.Data from 22 police forces obtained via freedom of information requests showed police spending had soared from an average of £137,400 per force in 2022-23 to £423,136 in 2024-25. Continue reading...

Government allocated 0.43% of national income to aid in 2025, with total spend down £1bn on previous yearThe UK government’s spending on foreign aid has hit its lowest level in nearly two decades, figures show, as humanitarian experts warn the cuts are costing lives.Provisional data shows the government allocated 0.43% of national income to official development assistance (ODA) in 2025, a decrease from 0.5% in 2024 and matching the level in 2008. Continue reading...

Report by the prime minister’s office says a total ban would have a ‘higher net benefit’ but would hit sporting codes very hardFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe Albanese government’s plans to restrict gambling advertising will reduce Australia’s annual gambling spending by $62.7m a year – or just 0.8% – according to a government report which said a full ad ban would have had “a higher net benefit” but a large burden on media and sporting codes.The report from Anthony Albanese’s Office of Impact Analysis (OIA) also revealed podcasts, app stores and even the NRL and AFL websites will be subject to Labor’s gambling reforms, which ban online wagering ads unless those platforms build an opt-out feature for adults. Continue reading...

Democrats rebuke White House’s ‘bleak and unacceptable’ view of priorities after 10% cuts proposed to other programsUS politics live – latest updatesSign up for the Breaking News US newsletter emailDefense spending would surge to its highest level in decades under a budget proposal put forward by the Trump administration on Friday, while other government programs would face cuts totaling 10%.The document prepared by the White House office of management and budget (OMB) is a starting point for negotiations that will probably occupy Congress’s appropriators in the coming months, and are unlikely to be enacted in full. Continue reading...

Unite accuses authority of trying to ‘break’ industrial action as waste dispute enters second yearUnite has accused Birmingham city council of trying to “break” the bin strikes after analysis showed the council had doubled spending on agency staff since the start of the year-long industrial action.Birmingham’s bin workers have taken part in an all-out strike since March last year over proposed pay cuts and role changes. The dispute has left residents without a fully functioning waste collection service and has led to towering waste and overflowing bins on the streets. Continue reading...

Company chaired by Trump ally Larry Ellison seeks to reassure investors that bet on AI infrastructure will pay offOracle is cutting thousands of jobs as the US technology company seeks to reassure investors that its bet on AI infrastructure will pay off.The $420bn firm, headquartered in Austin, Texas, started letting employees go on Tuesday, with thousands of Oracle’s 160,000-strong workforce expected to leave. Continue reading...

• Innovation Council Action, a new pro-AI political organization championed by tech investor and White House AI advisor David Sacks, plans to spend over $100 million in the 2026 midterms to shape U.S. tech policy. • The group is closely aligned with President Donald Trump's agenda and will support candidates favoring deregulation while opposing those pushing for stricter AI rules. • The organization has developed a scorecard ranking lawmakers based on their alignment with Trump's AI agenda, which will guide political spending decisions in the coming months.

• Every Magnificent 7 stock has fallen into double-digit losses from 52-week highs, with Microsoft down roughly 32% from its October peak, marking its worst start to a year in history, as the group enters correction territory. • Oil prices surged following Operation Epic Fury beginning February 28, reigniting inflation expectations and shifting rate outlook; markets now price in greater likelihood of rate hikes by year-end rather than cuts. • Excitement around AI infrastructure spending has waned amid concerns over combined capital expenditures for Google, Microsoft, Amazon, and Meta expected to exceed $650 billion in 2026, up 60% from 2025.

Industry groups say delay to defence investment plan (DIP) leaving UK behind in global race for fundingDefence manufacturers are going bust while others have been left in “paralysis” and “bleeding cash” as they wait for a long-delayed UK military spending plan for the next decade, MPs have heard.Industry groups said that a more than six-month delay to the defence investment plan (DIP) has also left the UK behind Germany and the US in attracting cash from global investors. Continue reading...

• A new report reveals that rising healthcare costs are forcing approximately 1 in 3 US adults to reduce basic spending on essentials like utilities, transportation, and prescription medications. • The financial strain is most severe among uninsured Americans, with about 62% reporting they have made trade-offs to afford medical costs, while nearly 3 in 10 insured Americans also report cutting back. • The impact spans income levels: approximately half of households earning $48,000 to $180,000 have delayed major life decisions because of healthcare costs, and one-third of those earning $180,000 to $240,000 report similar delays.

Cryptocurrency’s biggest Pac spent more than $10m for their candidates, only to be defeated by those who are anti-cryptoSign up for the Breaking News US email to get newsletter alerts in your inboxThe cryptocurrency industry spent big and lost often in this week’s Illinois primaries.As the industry prepares to make massive donations in the 2026 midterm elections to replicate its success in 2024, the Illinois losses mark an early setback for firms that are trying to establish themselves as power players in American politics. Continue reading...

• CMS actuaries forecast U.S. health spending at $5.3 trillion in 2024, outpacing economic growth to hit 20% of GDP by 2033. • Projections highlight unsustainable trajectory for national health expenditures. • Policymakers face pressure to address cost drivers in insurance, drugs, and services.