Yesterday, U.S. Postmaster General Louis DeJoy appeared to retreat in the face of a growing national furor, saying he would suspend the dismantling of mail-sorting machines and the removal of neighborhood mailboxes as a national election likely to feature millions of mail-in ballots approaches. But on Wednesday, House Speaker Nancy Pelosi said DeJoy told her he had no intention of putting any of that infrastructure back, some of which had been removed from battleground states. Moreover, Pelosi said the Trump megadonor would not allow adequate worker overtime, which she said is critical to on-time delivery. DeJoy, the target of a number of investigations, lawsuits and calls for criminal probes, has already alerted most states that timely delivery of mail-in ballots will not be guaranteed. Some 14 state attorneys general sued President Donald Trump over DeJoy’s actions, accusing him of violating the U.S. Constitution. Funding for the Postal Service, however, may create an opening in negotiations over a second coronavirus bailout package. —David E. Rovella

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Here are today’s top stories

As if California wildfires weren’t bad enough, their smoke has started to form self-contained weather systems capable of spinning out lightning and, yes, firenadoes. The Golden State has been considering ramping up battery storage so that one day rolling blackouts may only be a memory. The problem is that there aren’t nearly enough batteries in the world. The heatwave causing millions of Californians to fear losing power is, as you might have guessed, tied in part to global warming and the climate crisis. Specifically, it seems we have broken the jet stream.

The $20 trillion U.S. Treasury market is giving the Fed a thumbs-up for its efforts to revive inflation after the pandemic threatened to inflict deflation on the economy. Also, U.S. central bankers made a subtle move that may affect their meeting next month, one that caused stocks to fall and the dollar to rise.

Trump said he called off last weekend’s trade talks with China, raising questions about the future of the partial trade deal that is now the most stable point in an increasingly tense relationship.

Most observers of consumer behavior thought Americans would grow conservative about spending given the pandemic, recession and gargantuan unemployment. They would save their paychecks (if they still had a job) as well as any bailout money from Congress. Well, it turns out that even in the face of catastrophe and a deeply uncertain future, Americans can’t stop shopping. The largest U.S. retailers all reported sales in the latest quarter that blew away expectations.

Democrats officially nominated Joe Biden for president on Tuesday night, an honor he has been seeking for 32 years. Most speakers, however, failed to mention what Democratic leaders contend is a White House effort to sabotage the election.

Trump did not keep a promise to waive New York’s 25% share of federal coronavirus aid, Governor Andrew Cuomo said Wednesday. The idea of financial forgiveness “goes down with one of the other great lies: The check is in the mail,” Cuomo said. Here is the latest on the pandemic.

Vin Diesel made a fortune playing the American muscle-car driving anti-hero in the “Fast & Furious” films. These days, he’s helping a husband-and-wife team from China get even richer selling electric scooters.

What you’ll need to know tomorrow

• Kamala Harris, Barack Obama speak tonight at the DNC convention.
• Turkey discovered energy in the Black Sea, most likely natural gas.
• Kuwait says it will run out of money by October.
• A huge bet on Tesla paid off big for this British fund.
• Black corporate directors are in sudden demand.
• Software maker Asana picked this exchange for its direct listing.
• Businessweek: How hackers bled Bitcoins out of Covid researchers.

What you’ll want to read tonight

Hangover Cure Is Successfully Tested on Drunks

A group of Finnish researchers said they’ve discovered what people have spent centuries searching for: a cure for hangovers. A dose of this specific amino acid was found to reduce alcohol-related nausea and headache. Cheers.

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