Live news updates: Game developer Roblox tumbles after reporting decline in user spending

Game developer Roblox became the latest company in the video game industry to report a slowdown in growth, with a drop in a closely watched sales metric triggering a share price tumble in after-hours trading. The company, whose eponymous platform helps players design their own games, went public through a direct listing in March 2021, … Read more

IT spending: IT spend in US likely to remain resilient, large-caps like TCS, Infy & HCL safer bets

Mumbai: Analysts expect IT spending in the US to remain mostly resilient in the near term, but advise that investors need not be in a hurry to lap up shares of Indian technology companies despite the recent decline in prices. Though Indian IT companies have reported strong revenue growth in the June quarter, with most … Read more

Schools spending in England ‘not on track’ to return to 2010 levels

Surging costs mean the government is “no longer on track” to restore England’s school spending per pupil to 2010 levels in real terms by the end of this parliament, a leading think-tank warned on Tuesday. A study by the Institute for Fiscal Studies estimated that by 2024-25, school spending per pupil in England would be … Read more

GOP Plans to Deploy Obscure Rule as Weapon Against Spending Bill

Breadcrumb Trail Links PMN Business Republicans are using an obscure rule named for the Senate’s longest-serving member to challenge provisions of the Democrats’ surprise tax, health and climate deal in the hopes of whittling down the legislation. Author of the article: Bloomberg News Ari Natter Publishing date: Aug 01, 2022  •  12 minutes ago  •  2 … Read more

White women cut spending the most as Fed hikes rates, study shows

Monetary policy has a more significant impact on spending of U.S. households headed by white women than on those led by white men or Black men and women, the Federal Reserve Bank of San Francisco said. White households overall in the three years after an unexpected rate hike, Aina Puig, a research scholar with the … Read more

Tesla Boosts Capital Spending Plan, Reveals New SEC Subpoena

(Bloomberg) — Tesla Inc. increased its capital expenditure plan by billions of dollars after Chief Executive Officer Elon Musk referred to the carmaker’s new factories as “gigantic money furnaces.” Most Read from Bloomberg The revised plan was revealed Monday in a regulatory filing that also disclosed details of the electric-vehicle maker’s Bitcoin sales and another … Read more

Consumer IT spending to slide further amid recession fears in Asia-Pacific

The consumer IT spending in the Asia-Pacific region, already taking the brunt in the ongoing tight market conditions, is set to further slide in 2023, depending on the severity of the economic slowdown, according to an IDC report. The risk of recession worldwide has continued to rise amid increasing … Read more

China’s Belt and Road spending in Russia drops to zero

China’s new Belt and Road Initiative investments in Russia have fallen to zero for the first time, signalling Beijing’s reluctance to incur sanctions in the wake of the Ukraine war. In contrast with past multibillion-dollar pledges and contracts, Beijing struck no new deals with Russian entities under the Belt and Road programme in the first … Read more

Amex: Q2 SME Travel Spending Tops 2019 Levels

Second-quarter travel and entertainment spending on American Express corporate cards by the small and midsize corporate segment exceeded pre-pandemic levels from the second quarter of 2019, the company announced Friday. While such spending by large and global companies remains well below 2019 levels, it nevertheless increased notably from the first quarter, according to Amex. Small … Read more