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Spending News

Biggest jump in world defence spending in 10 years: study

Munich - Global spending on defence rose by four percent in 2019, the largest growth in 10 years, led by big increases from the US and China, a study said Friday.

US Congress approves space force, Russia pipeline sanctions

Washington - The US Senate approved a massive defense spending bill on Tuesday, sending Donald Trump a $738 billion package that creates a new space force, fulfilling a presidential priority, and seeks to curb Russia's sprawling energy ambitions.

Millennials are 'dramatically financially worse off': report

Millennials' spending is the same as their parents when it comes to the proportion of their income going to things such as food, restaurants, and alcohol — they just have less money to spend.

Merkel rejects US criticism on defence spending

Berlin - Chancellor Angela Merkel on Tuesday insisted Germany will not cut foreign aid to raise military spending, rejecting US criticism of its defence outlays.

Germany to miss NATO spending target despite short-term rise

Berlin - German defence spending will rise next year but then drop off again as a percentage of GDP, Berlin said Monday, in news expected to anger US President Donald Trump.

Seven NATO countries hit spending target

Apo - Seven of the 29 NATO countries hit the alliance's defence spending target in 2018, figures showed Thursday, an improvement over the year but probably not enough to satisfy Donald Trump.

Europeans $100 billion short of NATO spending pledge: study

Munich - Europe would need to boost defence spending by more than $100 billion to hit the NATO spending pledge that has stirred much anger by US President Donald Trump, a study showed Friday.

Washington careens toward government shutdown with no deal in sight

Washington - An intensifying spending standoff sent US lawmakers scrambling Monday to avert a partial government shutdown, with Republican and Democratic leaders deadlocked over President Donald Trump's demands for border wall funding.

Seven European countries to hit NATO spending pledge: Stoltenberg

Apo - Seven European countries are expected to meet a NATO defence spending pledge this year, the alliance said Tuesday, in news that is unlikely to appease US President Donald Trump on the eve of an already tense summit.

NATO says non-US 2017 defence spending to rise 4.3%

Brussels - European NATO allies and Canada will increase defence spending this year by 4.3 percent, alliance chief Jens Stoltenberg said Wednesday, amid pressure from President Donald Trump to spend more.

China defence spending to rise 'around 7%': official

Bejing - China will raise defence spending "around seven percent" this year as it guards against "outside meddling" in its disputed regional territorial claims, a top official said Saturday, in an apparent reference to Washington.

ICANN has spent $7M trying to get control of DNS from U.S. gov

Domain directory manager ICANN is reported to have spent nearly $7 million trying to gain complete control of the global DNS registries from the U.S. government in a bid to dominate how web address are allocated online.

China, Russia and eastern Europe boost defence spending

Stockholm - Military spending increased sharply in 2014 in China and Russia and the Ukraine conflict prompted eastern European countries to boost their defence programmes, according to a study by the Stockholm International Peace Research Institute (SIPRI) release...

Obama seeks big science boost

Washington - The fiscal year 2016 could be promising for scientific research if the President Obama's budgetary requests are granted.

Op-Ed: U.S Republicans make science pledge

Contrary to reports issued by the U.S. Democrats, the Republican Party has declared that it is committed to science, despite the call within its ranks to cut science spending. Not everyone is convinced.

Op-Ed: Greed, taxation, and incompetence

Calgary - While low oil prices wreak havoc on Alberta's economy, costing jobs, the men and women at City Hall are laughing all the way to the bank with new pay raises at a time when many Calgarians wonder if they will soon hit the unemployment line.

Obama calls on European allies to boost defence spending

Warsaw - US President Barack Obama told European allies Tuesday they had a responsibility to boost defence spending in return for US protection amid new instability in Europe.

Global tobacco control hampered by low government spending

Washington - According to the U.S. CDC, less than $1 billion is spent globally on tobacco control, with 97 percent of the spending done by high-income countries. In contrast, governments worldwide collect nearly $133 billion in tobacco excise tax revenue each year.

US incomes, spending rise in February; inflation low

Washington - US consumer incomes and spending gained for the second straight month in February, while inflation pressure remained subdued, the Commerce Department reported Friday.

Indian arms imports almost triple China, Pakistan: study

Delhi - India remains the biggest buyer of arms in the world, importing nearly three times as many weapons as its nearest competitors China and Pakistan over the last five years, a Swedish think tank said.

Science spending in the U.S. set to remain low

President Barack Obama’s proposed 2015 budget asks for a fraction of a percent increase in funding for the National Institutes of Health (NIH), and a one percent boost in funding for the National Science Foundation (NSF).

US consumer spending rises more than income in January

Washington - US consumer spending rose more than personal income in January, government data released Monday showed. ....................... ....................... ....................... ......................

Lower car sales, heating bills weigh on French consumer spending

Falling car sales and lower-than-usual energy consumption due to warm weather dragged French consumer spending sharply lower in January from the previous month, weighing on recovery in the consumer-dependent economy.

GE will increase energy spending to aid drilling boom, Immelt says

General Electric Co <GE.N> plans to intensify research focusing on complex energy projects such as waterless fracking and gas turbine efficiency by earmarking an additional $10 billion through 2020 for ...

Exclusive: GE to spend another $10 billion on energy research by 2020

General Electric Co plans to intensify research focusing on complex energy projects such as waterless fracking and gas turbine efficiency by earmarking an additional $10 billion through 2020 for its "ecoimagi...

Rand Paul: 'There are always perceptions of what is extreme'

With The New York Times and NBC's "Meet The Press" seeking to tether him to his father's Libertarian positions, Senator Rand Paul (R-KY) defended his cause and his father alike.

UK science budget frozen through next election

London - UK Chancellor George Osborne announced Wednesday that the nation's R&D budget will remain at its current level through the next election, but some scientific leaders disagree with the decision.

Global spending on arms drops for the first time since 1998

According to an annual survey by the Stockholm International Peace Research Institute spending on arms fell in 2012. In fact their figures show that global spending on weapons fell for the first time since 1998.

U.S. government cuts spending on science

Of the $85 billion in cuts announced by the U.S. government, almost $8 billion will be cut from science spending (a 5% reduction). This is the outcome of the sequester agreed to by Congress and the White House to pass the debt ceiling.

'Hansel and Gretel' hunt witches; movie spending up in 2012

Without a slew of pro football games or playoffs in the NFL, this is the weekend when the box office looks to heat up, while much of the nation freezes.
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Since 1996  the net worth of American consumers under the age of 35 has fallen by 34%.
Since 1996, the net worth of American consumers under the age of 35 has fallen by 34%.
Photo by Wyron A on Unsplash

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