Congress faces another shutdown deadline
Congress returns after a six week break with the new fiscal year starting Oct. 1 and a looming stopgap spending measure to avert a partial government shutdown. Speaker Johnson promotes a continuing resolution tied to the SAVE Act requiring proof of U.S. citizenship to vote, drawing opposition from Senate Democrats and some House Republicans.
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Big Lots files for Chapter 11 amid asset sale to Nexus Capital
Big Lots Inc files for Chapter 11 bankruptcy protection as it plans to sell assets and ongoing operations to Nexus Capital Management. Nexus acts as stalking horse bidder with possible higher bids, aiming to close the sale in Q4. The Columbus retailer plans store closures while continuing to operate via stores and online during the court supervised process.
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Stocks rally to claw back losses on Monday
U S stocks rose as the S&P 500 gained 1.2 percent and the Dow climbed about 484 points, trimming the prior week’s losses. Nvidia led tech gains while Palantir joined the S&P 500 and Dell rose after index promotion, Apple held firm as it debuted the iPhone 16 aimed at AI.
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