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Key senators reach agreement on spending levels for next year, setting up clash with House

WASHINGTON (AP) — The Senate will pursue a spending increase next year of about 3.4% for defense and 2.7% increase for non-defense programs under an agreement reached by top Democratic and Republican lawmakers on the Senate Appropriations Committee, setting up a certain clash with the House, which is pursuing less spending in both categories. Under an agreement reached last year by President Joe Biden and then-Speaker Kevin McCarthy, spending was set to increase 1% for defense and non-defense programs in fiscal year 2025, bringing the tallies to about $780.4 billion for non-defense ...

Parent company of Saks Fifth Avenue to buy Neiman Marcus for $2.65 billion

NEW YORK (AP) — The parent company of Saks Fifth Avenue has signed a deal to buy upscale rival Neiman Marcus Group, which owns Neiman Marcus and Bergdorf Goodman stores, for $2.65 billion, with online behemoth Amazon holding a minority stake. The new entity will be called Saks Global, ...

Biden administration provides $504M to support 12 technology hubs nationwide

WASHINGTON (AP) — The Biden administration said Tuesday that it was providing $504 million in implementation grants for a dozen technology hubs in Ohio, Montana, Nevada and Florida, among other locations. The money would support the development of quantum computing, biomanufacturing, lithium batteries, computer chips, personal medicine and other technologies. The Democratic administration is trying to encourage more technological innovation across the country, instead of allowing it be concentrated in a few metro areas such as San Francisco, Seattle, Boston and New York ...