A sweeping state recycling bill calls for scores of companies to stop using plastic wrap when packaging products, which critics gripe could leave crucial everyday items such as diapers and toilet paper soggy. The proposed Packaging Reduction and Recycling Infrastructure Act would require companies with net income exceeding $5 million that sell or distribute certain materials and products to reduce and phase out toxic or non-reusable packaging, replacing it with reusable and environmentally friendly alternatives. Other states have similar green-packaging programs, including Maryland, Maine, Oregon, Colorado, California and Minnesota, and some countries employ them, too. New Yorkers create nearly 5…

It’s the end of an inexpensive travel era. Money-savvy travelers are mourning Spirit Airlines, the once-beloved budget carrier, which permanently shut down on Saturday after undergoing severe financial distress and failing to obtain a $500 million bailout from the administration. After the company’s officials announced yesterday that they were closing operations…

SACRAMENTO, Calif. (AP) — Billionaire climate activist Tom Steyer is selling himself as a class traitor in his bid for California governor.The Democrat with a personal fortune estimated at $2.4 billion wants wealthy people and corporations to pay higher taxes. He’s endorsed by a progressive advocacy group that believes billionaires…

Business & Money

US policy makers have two choices: strategic engagement or a spiral into irrelevancyJust three years after entering the auto market, the Chinese tech company Xiaomi has made no effort to temper expectations. Best known for challenging Apple and Samsung on smartphones, Xiaomi is now positioning its new-generation SU7 electric sedan…

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