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AP Business Overview 6:17 PM EDT Overview | Jobs

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Inflation control laws may have little impact on inflation

WASHINGTON (AP) — President Joe Biden signed a landmark inflation-cutting bill into law on Tuesday as inflation climbs to near a 40-year high. Its title raises an intriguing question: Can this measure actually curb the price spikes that have plagued American households? ” has been suggested. The law does not directly address some of the main drivers of rising prices, from gas and food to rent and restaurant meals. Still, the law could save some Americans money by reducing the cost of prescription drugs for seniors, extending health insurance subsidies, and lowering energy prices.

Which EVs qualify for the new US tax credit? Website for help

WASHINGTON (AP) — The U.S. government is pushing ahead with plans to give electric vehicle buyers a new tax credit. This is part of a huge rollout of new climate, tax and health legislation. Several new websites were launched on Tuesday to help people identify vehicles eligible for credit. At least 31 of his new 2022 and 2023 models are eligible for the tax credit, based on data filed with the National Highway Traffic Safety Administration. First, it must be manufactured in North America to be eligible. President Joe Biden signed the Democratic Party’s landmark climate change and health care bill into law on Tuesday afternoon. This includes a tax credit of up to $7,500 that can be used to help cover the cost of purchasing an electric vehicle.

Scientists say new climate law likely to curb warming

WASHINGTON (AP) — A new spending package just signed by President Biden will moderate future warming a bit, climate scientists say. On Tuesday, the president, as part of an overall budget bill, signed climate legislation into which he included $375 billion as an incentive to produce clean energy. The head of the science-minded Climate Action Tracker says it’s the biggest event that has ever happened to the U.S. on climate policy, he said. He calculates a 42% reduction compared to . This falls short of the US goal of halving carbon pollution by the end of the decade.

Companies Face First Tax on Share Buybacks Under Biden Bill

WASHINGTON (AP) — Democrats have quietly won in the first legislation passed this month. It is the creation of a tax aimed at stock buybacks. The bill includes a new he 1% excise tax when companies buy their own shares. This is a tactic companies have long used to return cash to investors and boost share prices. Democrats argue that instead of buying back stock, big companies should use the money to raise workers’ wages or invest in businesses. But could that happen with taxes? Some experts are skeptical. The stock buyback tax will go into effect on January 1.

What’s in Biden’s Big Bill? Health and Climate Goals Become Law

WASHINGTON (AP) — President Joe Biden arrives at the White House, promising to “rebuild” America. This includes the largest investment in U.S. history to fight climate change, his $2,000 out-of-pocket cap on prescription drug costs for people in the Medicare program, and a new legal entity to ensure big companies pay their share. Includes minimum tax. And billions of dollars will remain to pay off the federal deficit. Overall, the Democrats’ “Inflation Reduction Act” may not do much to stop inflation-driven price increases immediately.

Hot dog vs deli meat.Rising costs shape Walmart options

NEW YORK (AP) — Walmart reported better-than-expected second-quarter results. Faced with soaring inflation, more Americans are looking to cut grocery costs at the nation’s largest retailers. But those price increases meant customers refrained from making unnecessary purchases. Walmart on Tuesday reported a quarterly profit of $5.15 billion. It easily beat Wall Street profit and sales projections. Shares rose 6%.

Home Depot has record profits and earnings.stick to the outlook

Home Depot sales increased in the second quarter, supported by continued demand for items related to home improvement projects. His earnings for the three months ended July 31 increased him 6.5% to $43.79 billion. That topped his $43.35 billion sought by analysts surveyed by Zacks Investment Research. Sales of stores that have been open for at least a year, a key indicator of a retailer’s health, increased by 5.8%. In the United States, this figure increased by 5.4%. The number of customer transactions decreased his 3%, but the amount shoppers pay on his single transaction increased his 9.1%.

Amazon: FTC investigation corners Bezos and executives.summons too broad

WASHINGTON (AP) — Amazon has sued federal regulators that it is hunting down company founder Jeff Bezos and senior executives. The e-commerce giant says regulators are making demands impossible to satisfy in its Amazon Prime investigation. I’ve been researching Amazon Prime sign-up and cancellation practices. The petition asks the FTC to cancel or extend the deadline for responding to subpoenas sent to Bezos and current CEO Andy Jassy.

American Airlines deposits 20 supersonic planes

DALLAS (AP) — American Airlines says it has agreed to buy up to 20 supersonic jets that are still in the planning stages and will not fly for years. American announced a deal with Boom Supersonic on Tuesday. Neither company has disclosed financial details, including how much the American paid in what is called a non-refundable deposit. It’s been almost 20 years since the British-French aircraft Concorde made its last supersonic passenger flight. According to Blake Scholl, his CEO of Boom, his company’s plane ticket costs about $4,000 to $5,000 for him, and takes about three and a half hours from New York to London.

Amazon workers in upstate New York file for union elections

NEW YORK (AP) — Amazon workers in upstate New York filed a petition for a union election on Tuesday, starting a major labor dispute against the company. It said it was filed against a warehouse in the nearby town of Shodak. To qualify for union elections, the NLRB needs the signatures of her 30% of voters. Agencies must verify whether workers are eligible to seek elections. Amazon unions support organizing efforts. Earlier this year, we scored a historic win at a warehouse in Staten Island, New York, but a few weeks later we also suffered losses at another location nearby.

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