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Money & Markets

Democrats say they’ve reached agreement on economic package

WASHINGTON — Democrats considered reshaping proposed taxes on the wealthy and huge corporations, and possibly adding billions for the West’s historic drought, as lawmakers aimed for initial votes Saturday on the party’s economic legislation. Senate Majority Leader Chuck Schumer, D-N.Y., ...

Inflation weighs on back-to-school buying for many American families

NEW YORK — To understand the impact of surging inflation on this year’s back-to-school spending, look no further than children’s rain boots with motifs like frogs and ladybugs made by Washington Shoe Co. Spending held steady for these evergreen items even after the Kent, ...

BP earnings soar as energy firm profits from rising prices

LONDON — BP said its earnings from April to June almost tripled from a year earlier, increasing pressure on governments to intervene as energy companies profit from high oil and natural gas prices that are fueling inflation and squeezing consumers. Net income jumped to $9.26 billion in the ...

USDA getting tougher on salmonella in chicken

DES MOINES — The federal government on Monday announced proposed new regulations that would force food processors to reduce the amount of salmonella bacteria found in some raw chicken products or risk being shut down. The proposed U.S. Department of Agriculture rules would declare ...

Amazon posts 2Q loss but revenue tops estimates, stock jumps

NEW YORK — Amazon on Thursday reported its second-consecutive quarterly loss but its revenue topped Wall Street expectations, sending its stock sharply higher. The Seattle-based e-commerce giant also said it is making progress in controlling some of the excess costs from its massive ...

Manchin, Schumer in surprise deal on health, energy, taxes

WASHINGTON — In a startling turnabout, Senate Majority Leader Chuck Schumer and Sen. Joe Manchin announced an expansive agreement Wednesday that had eluded them for months addressing health care and climate, raising taxes on high earners and large corporations and reducing federal debt. The ...