Congress Teeters Over Shutdown and SAVE Act Plan
Congress faces a looming October 1 funding deadline with a stopgap likely. House Speaker Johnson pitches a continuing resolution tied to the SAVE Act requiring proof of U S citizenship for federal voter registration, a move met with Democratic pushback and Senate resistance.
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Congress
Mike Johnson
U.S
Andrew Clyde
Johnson
Georgia
House
Donald Trump
Senate
Chuck Schumer
Patty Murphy
Senate Appropriations Committee
McCarthy
Joe Biden
Kevin McCarthy
Buddy Carter
St. Simons Island
Big Lots seeks bankruptcy protection and asset sale
Big Lots files for Chapter 11 to sell assets and ongoing operations to Nexus Capital Management. The Columbus retailer cites weak demand, inflation, and high rates as causing nine straight quarters of declining same-store sales while planning store closures and a court supervised auction with Nexus as stalking horse. Financing commitments total about 707.5 million, with liquidity to support the sale process. NYSE has issued a price-based notice, and stock traded down after hours.
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Big Lots
Nexus Capital Management
FactSet
Nexus
Bruce Thorn
Nexus Capital
Neil Saunders
GlobalData
Big Lots Inc
New York Stock Exchange
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Associated Press
Stocks rise as tech leads rebound from weekly losses
U S stocks edged higher on Monday as the S&P 500 gained about 1.2 percent and the Dow rose 484 points while Nvidia led a tech rebound. Boeing edged up after a tentative four year contract with IAMAW averting a potential aircraft strike. Analysts weigh Fed rate cuts and the risk of renewed downturn.
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Apple Inc S
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Amber
Bloomz
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Intel
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Meta
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