Business
Political ad spending expected to hit new record, surpassing 2022 midterms by 20%

(L-R) Mikayla Newton and Katerra Jones, reporters with the Prince George’s County during a news broadcast on May 15, 2025 in Largo, MD.
Michael A. McCoy | The Washington Post | Getty Images
Spending on political advertisements is projected to hit a new record, with this midterm season expected to reach a total of $10.8 billion, according to advertising company AdImpact.
That number for the 2025-2026 midterm season makes it the most expensive midterm cycle in history, surpassing spending for 2021-2022, which clocked in at $8.9 billion, by more than 20%. And it’s inching close to AdImpact’s price tag for the 2024 presidential election cycle, which reached $11.2 billion.
“We anticipate record spending across all race types due to the highly competitive national environment, with congressional spending specifically set to reach new heights,” the report said.
The race to snag control of Congress this year remains close, as Republicans hope to hold onto their 53-47 majority in the Senate and their 219-212 majority in the House. Key races in battleground states could determine or flip those majorities.
This cycle’s boost is largely expected to come from the connected TV, or CTV, category, which covers any television that connects to streaming apps and services. That spending will surge to $2.5 billion, AdImpact said, growing by 2% and earning a spot as the fastest-growing media type.
Broadcast television is forecast to continue to hold the largest share of spending at 49%, and local cable and social media spending are expected to decline slightly, the report said. That comes even as legacy cable TV has been bleeding millions of subscribers each year as streaming takes over as the primary way the world watches television.
“With $2.5 billion projected, CTV is now a core marketing strategy for 2026 campaigns, offering advertisers the ability to maximize both efficiency and overall reach,” said John Link, AdImpact’s senior vice president of data.
The forms of media vary based on types of elections, though, with down-ballot campaigns more likely to invest in cable and radio than larger races, according to AdImpact.
The most spending is expected to be in California, followed by Michigan, Georgia and North Carolina, all of which have highly competitive races this cycle. Advertising on Senate races is projected to reach $2.8 billion, while spending for House races is expected to surpass $2 billion for the first time ever as Republicans aim to hold onto their majority.
The midterm season has also already seen a surge in early spending, AdImpact noted. Though the off-year spending typically only amounts to 10% to 15% of total spending, 2025 has already surpassed records, hitting roughly $900 million by Aug. 26. That’s 37% higher than the same point in 2023 and 58% higher than 2021.
This season’s surge comes amid a particularly charged election cycle. Local elections have also garnered national attention and big spending, like the New York City mayoral race between Democratic nominee and state assemblyman Zohran Mamdani and former Gov. Andrew Cuomo, which has raked in millions in campaign funds and capitalized on social media ads.
Business
Holiday spending, especially by Gen Z, is expected to drop this year, survey says

Shoppers at the Walmart Supercenter in Burbank during Walmart’s multi-week Annual Deals Shopping Event in Burbank Thursday, Nov. 21, 2024.
Allen J. Schaben | Los Angeles Times | Getty Images
Holiday shoppers expect to trim the tree and their spending this upcoming season, according to a survey by consulting firm PwC.
Across generations, consumers said they plan to spend an average of $1,552 on holiday gifts, travel and entertainment — which represents a 5% drop from the planned holiday spending average in the year-ago period.
Yet the sharpest decline comes from Generation Z, whose members said they plan to spend 23% less on average than a year ago. That’s the biggest drop of any generation and a significant swing from last year when they said they expected to spend 37% more. Their pullback is also contributing to the overall decline in holiday spending.
“Price is Gen Z’s love language,” said Ali Furman, the U.S. consumer markets industry leader for PwC. “They’ve been raised in an era of rising costs. They’re laser-focused on value and cost transparency. For them, dupes aren’t a downgrade. They’re proof of smart shopping.”
For retailers, Gen Z customers — who span in age from 13 to 29 and have an average age of 22 — are both an opportunity and a challenge, Furman said. As they enter adulthood, they tend to have smaller salaries, new expenses and debt to pay down, she said. Plus, she said, they are experience-driven, often prioritizing concert tickets, hotel stays and plane trips over buying new items, and they’re feeling the pinch as those experiences cost more.
“Entertainment and vacations are taking up more of their wallet than they have, and therefore they have less to spend on holiday,” Furman said.
It’s also been hard for retailers to keep up with young shoppers, who “are the fastest generation to adopt trends and abandon trends,” she said.
For retailers, the survey’s findings highlight the uncertain backdrop for a holiday season that could be shaped, at least in part, by price sensitivity as companies debate how much to absorb and pass on higher tariff costs.
All other generations’ holiday spending expectations were roughly flat compared with a year ago — with the exception of baby boomers, who plan to spend 5% more on average, according to PwC’s survey, which included a representative sample of 4,000 U.S. consumers and was conducted in late June and early July.
Consumers who have already grown weary of the rising cost of living, such as higher utility bills, are also wary of potential price increases from higher tariffs, Furman said. That’s made shoppers pay closer attention to price tags and intensified their resolve to delay or shop early to get the best deal, she said.
“It’s not necessarily the tariffs themselves that are driving sentiment and behavior,” she said. “It’s the threat prices may go up, and people have a consciousness around that.”
Business
AI firm Anthropic valued at $183bn after $13bn raise – The Times of India

Anthropic has closed a deal to raise $13 billion from investors in a new funding round that nearly triples its valuation to $183 billion, including dollars raised – a larger-than-expected haul that makes the AI company one of the most valuable startups in the world. The financing, one of the largest to date for an AI company, was led by investment firm Iconiq Capital alongside co-leads Fidelity Management and Research and Lightspeed Venture Partners. Other participants in the round included Singapore’s GIC, Insight Partners, and Qatar Investment Authority.
Business
Google avoids break-up but must share data with rivals

Lily JamaliNorth America Technology Correspondent, San Francisco and
Rachel ClunBusiness reporter, BBC News

Google will not have to sell its Chrome web browser but must share information with competitors, a US federal judge has ordered.
The remedies decided by District Judge Amit Mehta have emerged after a years-long court battle over Google’s dominance in online search.
The case centred around Google’s position as the default search engine on a range of its own products such as Android and Chrome as well as others made by the likes of Apple.
The US Department of Justice had demanded that Google sell Chrome – Tuesday’s decision means the tech giant can keep it but it will be barred from having exclusive contracts and must share search data with rivals.
Google had proposed less drastic solutions, such as limiting its revenue-sharing agreements with firms like Apple to make its search engine the default on their devices and browsers.
On Tuesday, the company indicated that it viewed the ruling as a victory, and said the rise of artificial intelligence (AI) probably contributed to the outcome.
“Today’s decision recognizes how much the industry has changed through the advent of AI, which is giving people so many more ways to find information,” Google said in a statement after the ruling.
“This underlines what we’ve been saying since this case was filed in 2020: Competition is intense and people can easily choose the services they want,” the statement continued.
The tech giant had denied wrongdoing since charges were first filed against it in 2020, saying its market dominance is because its search engine is a superior product to others and consumers simply prefer it to others.
Last year, Judge Mehta ruled that Google had used unfair methods to establish a monopoly over the online search market, actively working to maintain a level of dominance to the extent it broke US law.
But in his decision, Judge Mehta said a complete sell-off of Chrome was “a poor fit for this case”.
Google will also not have to sell off its Android operating system, which powers most of the world’s smartphones.
The company had argued that off-loading parts of its operations, such as Android, would mean they would effectively stop working properly.
“Today’s remedy order agreed with the need to restore competition to the long-monopolized search market, and we are now weighing our options and thinking through whether the ordered relief goes far enough in serving that goal,” Assistant Attorney General Abigail Slater wrote on X after the ruling.
Shares in Alphabet, Google’s parent company, jumped by more than 8% after the ruling.
Smartphone-makers such as Apple, Samsung and Motorola will also benefit.
Before the ruling, Google paid such firms billions of dollars to exclusively pre-load or promote the tech company’s products.
It was revealed at trial that Google paid more than $26bn for such deals with Apple, Mozilla and others in 2021.
Now, Google will not be allowed to enter into any exclusive contracts for Google Search, Chrome, Google Assistant or the Gemini app.
It means phone manufacturers will be free to pre-load or promote other search engines, browsers or AI assistants alongside Google’s.
Gene Munster, managing partner at Deepwater Asset Management, said the ruling was “good news for big tech”.
“Apple also gets a nice win because the ruling forces Google to renegotiate the search deal annually,” he said on X.
Judge Mehta’s ruling “doesn’t seem to be as draconian as the market was expecting,” said Melissa Otto, head of research at S&P Global Visible Alpha.
With Google’s search operation expected to generate close to $200bn this year, and tens of billions of that expected to go to distribution partners it is a win-win for the major corporate players involved in the case, Ms Otto said.
The decision is not the end of the tech giant’s court battles.
Later this month, Google is scheduled to go to trial in a separate case brought by the justice department where a judge found the company holds illegal monopolies in online advertising technology.

-
Tech7 days ago
Review: Google Pixel 10 Series
-
Sports7 days ago
New Zealand rugby player Shane Christie, who suffered multiple concussions, dies aged 39 – SUCH TV
-
Tech6 days ago
Top CDC Officials Resign After Director Is Pushed Out
-
Fashion7 days ago
Portugal Jewels Chiado boutique nominated for two global design awards
-
Fashion7 days ago
ICE cotton futures fall for 2nd consecutive day on strong crop outlook
-
Sports7 days ago
New-look Pac-12 extends CW deal through 2031
-
Fashion7 days ago
Israel’s Delta Galil posts $470 mn Q2 sales, updates 2025 guidance
-
Sports6 days ago
Dolphins GM Chris Grier says fans threatened his family in string of vile emails after team’s lackluster year