Reid says deal to reopen the FAA reached in Congress
Senate Democrats said a bipartisan compromise ends the two week FAA shutdown. The plan extends FAA funding through mid September and cuts 16.5 million in subsidies to 13 rural communities, with White House authority to preserve service if needed. Obama welcomes the breakthrough as workers return to duties.
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July sales gain offset by inflation and uncertain outlook
Retailers report solid July revenue led by Target Macy's and Saks as IC22S C opens stores with higher margins but concerns rise over back-to-school demand and price increases. Analysts note 4.6 percent open-store growth, weaker than June, amid stubborn inflation and slow wage gains.
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