Tue, Jul 23, 2013 1:38 PM EDT 0:59
The U.S. Senate advanced a $54 billion measure that increases funding for transportation and housing projects, underscoring a spending clash with Republicans in the House of Representatives that threatens a government shutdown on October 1. Wendy's Co , the second-largest U.S. hamburger chain, reported a quarterly profit and announced a plan to sell about 425 restaurants by mid-2014. United Parcel Service Incorporated posted a smaller quarterly profit as customers, especially on international routes, chose slower, cheaper shipping services. A weak industrial economy in the United States and overcapacity in the global air freight market also weighed on the package delivery company's results.