Tag: Spending

U.S. Business Spending Digging Out of Deep Hole; Outlook Uncertain | Investing News

WASHINGTON (Reuters) – New orders for key U.S.-made capital goods increased more than expected in August and shipments raced to their highest level in nearly six years, suggesting a rebound in business spending on equipment was underway after a prolonged slump.

The show of confidence by businesses in the report from the Commerce Department on Friday also bolstered expectations for a sharp turnaround in economic activity in the third quarter, thanks to government money, after it was hammered by the COVID-19 pandemic in the first half of the year.

But fiscal aid is running out and new coronavirus cases are rising in the country, clouding the fourth-quarter picture.

Federal Reserve Chair Jerome Powell this week stressed the need for more fiscal stimulus, telling lawmakers on Thursday that it could make the difference between continued recovery and a much slower economic slog. Another rescue package appears unlikely before the Nov. 3

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Choosing The Right Festive Spending Credit Card

The majority of us will no doubt be pleased to see the back of 2020. But before we can get there, we have Christmas to contemplate. It will remain a joyous occasion for many, but the inevitable expense needs to be thought about and, if possible, plans put in place to make it affordable.

The festive season is likely to feel quite different this year, perhaps with restrictions on social events and household gatherings, but it could still end up being a costly affair. So if you’re considering applying for a credit card to help pay for some of your Christmas expenditure, it’s important that you choose the right one.

Whether you need a little help spreading the cost of your festive gifts or you’re looking to earn something back on your spending, we round up some of the best options to help you find the right credit card.

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Mum’s battle to stop video game obsessed sons spending all their time inside sparked a business idea

A mum-of-three’s battle to stop her video game obsessed sons spending all their time cooped up indoors with their consoles sparked an ingenious business idea – and led to her selling her home to create a massive outdoor gaming centre.

Jacquie Rumble was increasingly irked by the hours her three boys, Joe, 18, Danny, 16, and Max, nine, spent online playing shooting games.

So the 47-year-old and her husband Billy, 50, sold their four bedroom home to fund a woodland centre – where players become the stars of their own real life video games and Bluetooth headbands tell them when they have been ‘hit’ by weapons.

Jacquie said: “As parents, we’ve always been advocates for getting our boys outside – and they’re all very sporty – but as they got older that became harder to do.

“They became obsessed with video games. They would come in from school, shove on

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Children are spending more time online and in front of screens than ever before. Parents and experts reveal their best tips for managing kids’ tech use.

a group of people posing for a photo: Jessica Nelson, pictured above with her family, has set boundaries around screen time by having her kids help out with chores around the house. Jessica Nelson

© Jessica Nelson
Jessica Nelson, pictured above with her family, has set boundaries around screen time by having her kids help out with chores around the house. Jessica Nelson

  • COVID-19 has seen an increase in children’s screen time, with many now clocking six hours per day according to one study — up 500% since before the pandemic.
  • Business Insider spoke to parents and experts about how to best manage kids’ screen time
  • Their advice varied from establishing offline routines to focusing more on what children are doing online rather than how much time they’re spending on devices.
  • The most important thing is to make time to do family activities together away from technology.
  • Sign up for our new parenting newsletter Insider Parenting here.

When the coronavirus pandemic forced schools and businesses to close in March, Jessica Nelson was tasked with taking care of three children on her own.

Like most

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The 8 best credit cards for everyday spending

a person standing in front of a store

© Provided by The Points Guy

MSN has partnered with The Points Guy for our coverage of credit card products. MSN and The Points Guy may receive a commission from card issuers.

Please note: the offers mentioned below are subject to change at any time and may not be available.

Editor’s note: This is a recurring post, regularly updated with new information. 

It can be easy to focus only on credit cards that offer outsized bonus categories like 5x on travel or 4x on dining. For most people, most of the purchases they make don’t fit neatly into any bonus category. Whether you’re indulging in some online retail therapy, buying a bottle of wine or picking up a snack at a convenience store, it’s crucial to have a card that rewards you well for these everyday, non-bonus expenses.

What’s the best card to use for everyday purchases when you’re not

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NJ budget: A look at what lawmakers removed from Murphy’s spending plan

The state Legislature will hold committee votes on Tuesday for its version of a nine-month spending plan to cover expenses between Oct. 1, 2020, and June 30, 2021, after the COVID-19 pandemic wreaked havoc on the state’s economy and its finances.

Under the proposal, lawmakers will consider just three taxes sought by Gov. Phil Murphy in his own budget proposal: A tax on income above $1 million, a four-year extension to a higher version of the corporate business tax, and an HMO assessment on net written premiums, according to a person in the state Legislature.

The budget will include roughly $4.5 billion – above the original $4 billion proposed – in potential borrowing, according to this person, which can be done without voter approval thanks to wartime powers granted to the governor. But that amount must still be approved by a four-person legislative committee, consisting of the Assembly Speaker, Senate

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X1 Visa Credit Card Uses Income, Not Credit Score to Determine Your Spending Limit

The new X1 Visa Card, created by former Twitter execs with backing from PayPal co-founder Max Levchin, is planned for release this winter, and the company opened its waiting list this week. I signed up (there are about 23,000 people ahead of me). You might want to as well, because it sounds like the X1 card will be unlike any credit card you’ve seen before. And it could be especially useful for entrepreneurs.

What’s different about the X1?

1. It doesn’t use credit scores to determine your credit limit.

“The consumer credit card industry has been almost untouched by tech and has relied on the archaic credit score system,” co-founder and former Twitter exec Deepak Rao told TechCrunch. Instead, X1 determines how much credit to give you by looking at your current and future income. By comparison, your credit score is essentially a record of your past–how much debt you

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Weekly High Frequency Indicators: Consumer Spending Negative For The Second Week In A Row


I look at the high frequency weekly indicators because while they can be very noisy, they provide a good nowcast of the economy, and will telegraph the maintenance or change in the economy well before monthly or quarterly data is available. They are also an excellent way to “mark your beliefs to market.” In general, I go in order of long-leading indicators, then short-leading indicators, then coincident indicators.

A Note on Methodology

Data is presented in a “just the facts, ma’am” format with a minimum of commentary so that bias is minimized.

Where relevant, I include 12-month highs and lows in the data in parentheses to the right. All data taken from St. Louis FRED unless otherwise linked.

A few items (e.g., Financial Conditions indexes, regional Fed indexes, stock prices, the yield curve) have their own metrics based on long-term studies of their behavior.

Where data is seasonally adjusted,

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How Does Your Credit Card Spending Compare to the Average American’s?

Is your credit card balance higher or lower than average?

It’s hard to argue that Americans don’t have a credit card debt problem. By early 2020, total credit card balances in this country reached $893 billion, according to a study on credit card debt done by The Ascent.

While that number is high, it might not provide a completely accurate picture of the average person’s finances. Read on to see how you stack up against our statistics regarding the average American’s credit card spending.

The average American is $6,194 deep in credit card debt

As of mid-2019, the average American’s credit card balance is $6,194. That rather high balance is a number that’s been on the rise for years.

It’s important to note that a minority of consumers pull the average up with extremely high credit card balances. Most people fall below that average. About two-thirds have a credit card

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Covid-19 coronavirus: Auckland CBD business owners question spending data

By Katie Todd for RNZ

Treasury’s latest measure of card spend and traffic volumes in Auckland city suggests activity has rebounded to a strength last seen under alert level 1 – but Anne Mazer is among downtown store owners who say their patch has been uncomfortably quiet.

Mazer owns Great Kiwi Yarns and was immensely disappointed with yesterday’s alert level extension.

“Compared to level 1 it’s a huge difference. We have almost no one coming into the store. It’s a disaster for us that it’s keeping going at 2.5,” she said.

Over the road a jewellery store owner echoed her words, and a bar manager said he was recording about half the daily number of customers he was seeing in July.

Their stories of slow business appeared to undermine yesterday’s words from Prime Minister Jacinda Ardern describing ” good increases in economic activity since the start of level 2.5 in

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