WASHINGTON: The US government registered a record budget deficit in February despite rising revenues, setting a record 17th consecutive month in the red, the Treasury said on Wednesday.
The February budget shortfall was 220.909 billion dollars, a 14 percent rise from a year ago and the biggest monthly gap on record.
The reading, however, was slightly better [...]

debt, recovery, spending, stimulus, US Hide

Daimler AG’sMercedes-Benz unit, the world’s second-largest maker of luxury cars, will almost double investment on “green” technologies to take on BMW in the race to offer electric vehicles.
Stuttgart, Germany-based Mercedes intends to spend 1 billion euros ($1.4 billion) in each of the next two years to develop batteries and fuel-saving engines, Thomas Weber, Daimler’s development chief, [...]

automobiles, Germany, spending Hide

You first start learning about teaching your kids about money on that special trip to Wal-Mart when your child first throws a tantrum because you won’t buy her a Barbie doll. Some people will grab the child from the shopping cart and leave the store fuming and red in the face. Other parents might opt [...]

credit, spending Hide

Feb. 1 (Bloomberg) — Evidence of a self-sustaining U.S. recovery is emerging on the factory floors of Texas Instruments Inc. The second-largest U.S. chipmaker will spend almost $1 billion this year to expand three factories and open a fourth to fill orders.
The need to rebuild industrial capacity after the largest decline on record in 2009 is boosting [...]

investor confidence, recovery, spending, US Hide

READING the fine print just got easier, if you are an American credit-card holder.
Last May, the authorities in the United States stated that all information, including applications and disclosures for that piece of plastic, has to be printed in at least 12-point font.
These rules are not in effect here. But The Association of Banks in [...]

consumers, credit, Singapore, spending, US Hide

WASHINGTON: The US Federal Reserve finalised new rules aimed at protecting credit card holders Tuesday that also make it difficult for anyone under the age of 21 to obtain a credit card.
As part of a series of new rules aimed at protecting consumers, the measure forbids banks from issuing a credit card to anyone under [...]

credit, spending, US Hide

THE economic downturn has produced an explosion of popular anger against bankers’ ‘greed’. This has accompanied a wider critique of ‘growthmanship’ – the pursuit of economic growth at all costs, regardless of the damage it may do to the earth’s environment or to shared values.
John Maynard Keynes addressed this issue in 1930, in his little [...]

spending Hide

by Andre Yeo
WHEN Jane (not her real name) allowed her ex-husband to gamble and borrowed money to help him settle debts, she thought she was being a good wife.
When he won, she celebrated with him and enjoyed the gifts he bought for her.
Then, he started losing. And he kept on losing.
His gambling problem finally led [...]

Singapore, spending Hide

To rid herself of the Monday blues, Ms Lyn Yip treats herself to brunch at Dempsey’s Barracks before attending contract law class. On Wednesday evening, the twenty-year-old undergraduate parties with her friends, drinking—$200 each—bottles of Moët & Chandon. To prepare for the weekend, she squeezes in a manicure and pedicure in between tutorials on Friday.
By [...]

Singapore, spending Hide

Oct. 20 (Bloomberg) — A 40 percent jump in Wall Street bonuses this year may bring relief to New York City and Albany as the state and its biggest metropolis struggle with a combined $14 billion in budget deficits this fiscal year and next.
New York investment houses will dole out $26 billion in bonus checks [...]

bonus, goldman, lehman, spending, subprime, US Hide