A study by IPAM suggests Portugal could generate up to €945 million from the 2026 FIFA World Cup, even without hosting. The economic impact, driven by digital consumption and fan engagement, depends on the national team's performance, with potential earnings ranging from €378 million to €945 million.
Moody's chief economist Mark Zandi warns the US has days to secure a peace deal with Iran or risk recession due to soaring oil prices. Stalled negotiations and the potential closure of the Strait of Hormuz threaten global energy supplies, with gas prices already high and a potential climb to $5/gallon risking consumer spending collapse.
US inflation rose 3.8% year-over-year in April, the fastest in three years, driven by higher energy prices amid the Iran war. This surge pressures the Fed to potentially hold interest rates unchanged and threatens Trump's economic approval ratings.
This week on Wall Street, investors await Salesforce's earnings report, focusing on AI impact and revenue growth. Costco's results will reveal consumer spending trends and profit margins. Key economic data includes the PCE price index, crucial for inflation outlook and potential Fed rate decisions.
Italian consumer spending fell 2.8% in April compared to April 2025, pushing the year-to-date cumulative figure into negative territory for the first time. The Confimprese-Jakala Observatory attributes this to rising energy prices, widespread inflation, and economic uncertainty, impacting discretionary spending.
Ross Stores and TJX report strong sales driven by increased transactions across all income levels, indicating consumers are seeking value. Walmart warns of consumer stress due to high gas prices, while Deckers Outdoor notes healthy spending on premium brands. This mixed picture impacts Fed rate decisions.
Italian consumer spending fell 2.8% in April, with the first quarter also showing a decline. Lombardy saw a significant 3.9% drop, attributed to family caution. Apparel and accessories remain resilient, while restaurants and 'other retail' experienced significant decreases.
Japan's real GDP grew at an annualized rate of 2.1% in Q1 2026, driven by consumer spending. Department store sales rose 2.0% year-on-year, boosted by stock market gains. However, concerns linger over the impact of Middle East tensions on oil prices and the economy from April onwards.
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 said that profits will fall this year amid a “muted market” hit by concerns about the Middle East conflict and weaker spending by young people facing rising unemployment.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...
Shares of McDonald's have fallen 10% over the last year, hurt by concerns about the broader economy.
Exclusive: Documents show Modella Capital, which bought the chain last year, is so far owed £2.9m in royalty feesThe investment company that owns the former WH Smith high street stores is charging the retailer millions of pounds in licence fees for the right to use its widely derided TG Jones name, the Guardian can reveal.Modella Capital – which bought the chain from WH Smith’s parent company last year – on Wednesday blamed weak consumer spending as it laid out a restructuring plan that could shut 150 of its 450 shops. It also said “the forced name change from WH Smith has also negatively impacted consumer awareness”. Continue reading...
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...
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...
New owner Modella Capital, which rebranded shops to TG Jones, blames weak consumer spending Dozens of former WH Smith stores are likely to close, putting thousands of jobs at risk under a radical restructuring plan by their new owner, which had rebranded the shops to TG Jones,The investment company Modella Capital, which bought WH Smith’s chain of 480 high street stores for £76m last year, blamed “weak consumer spending” as it set out the plan to landlords on Wednesday. Continue reading...
Modella Capital, which rebranded shops as TG Jones, unveils major restructure and is seeking rent holidaysUp to 150 former WH Smith stores are likely to close, putting thousands of jobs at risk under a radical restructuring plan by their new owner, which had rebranded the shops as TG Jones.The investment company Modella Capital, which bought WH Smith’s chain of 480 high street stores for £76m last year, blamed “weak consumer spending” as it set out the plan to landlords on Wednesday. Continue reading...
Remittance giant Western Union’s USDPT token will power cross-border payments and a consumer spending product launching in 40+ countries.
US GDP grew 2% in Q1 2026, driven by a 10% jump in government spending and 6.4% domestic investment in AI infrastructure. However, consumer spending is slowing as the war with Iran pushes oil to $126/barrel, raising inflation expectations from 3.8% to 4.7% in one month. The Fed's Powell warned of institutional independence pressures from the Trump administration while maintaining a hold strategy.
The U.S. economy grew at a 2% annual rate in Q1 2026, up from 0.5% in the previous quarter, driven by strong consumer spending and rebounding government spending. Tax refunds averaging $330 larger than last year boosted lower and middle-income households, though the conflict with Iran continues to push oil prices to four-year highs, threatening inflation.
Indian consumer goods firms are grappling with soaring input costs, driven by the Middle East conflict. Companies are now tracking expenses daily and frequently adjusting prices, impacting long-term strategies. Executives fear higher prices could dampen consumer spending, which had recently shown signs of recovery. This volatility is forcing immediate, short-term decisions across various product categories.
Associated British Foods has confirmed plans to demerge Primark from its food business (containing Twinings, Kingsmill and Patak's) by the end of 2027, despite warning that the Middle East conflict may impact consumer spending. Group sales fell 2% to £9.46bn in the first half, with pre-tax profits down 9% to £632m. Primark's like-for-like sales declined 2.7% globally, though UK sales rose while mainland Europe fell 5.6% due to weak consumer confidence.
Economic uncertainty from geopolitical tensions and high gas prices is causing American consumers to cut back on discretionary spending at entertainment venues like cycling races, bowling alleys, escape rooms, and eatertainment spots. Event registrations and foot traffic have declined significantly in March, impacting local economies.
