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Canadian Pacific Railway posted a drop in net income but an increase in revenue for the second quarter, as it confronts renewed opposition to its planned acquisition of Kansas City Southern Railroad.

Amazon .com Inc. reported revenue that topped estimates and gave a strong sales forecast for the current quarter, allaying investor concerns about potential belt-tightening by inflation-rattled consumers. Shares jumped more than 10% in extended trading.

Legislation to boost domestic semiconductor manufacturing while improving freight access along the nation’s supply chains was sent to President Joe Biden’s desk July 28.

Forward Air Corp. on July 27 reported all-time quarterly records for revenue, income from operations and net income per diluted share for the second quarter.

C.H. Robinson Worldwide Inc. on July 27 reported record second-quarter profits as a strong pricing environment lifted results.

Norfolk Southern Corp. on July 27 posted record second-quarter financial results that beat the expectations of Wall Street analysts.

A breakthrough deal between Sens. Chuck Schumer and Joe Manchin includes the extension of a popular consumer tax credit for the purchase of electric vehicles, a big win for EV makers such as General Motors Co., Tesla Inc. and Toyota Motor Co.

WASHINGTON — The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears that the nation may be approaching a recession.

Old Dominion Freight Line set records for revenue and profitability during the second quarter of 2022, the company reported July 27.

The Senate on July 27 passed legislation that includes $52 billion in grants and incentives for U.S. semiconductor manufacturing, an industry that has steadily lost ground to foreign competitors in recent years.