Morning Business Report: Old Navy committed to pausing price hikes on select kids’ clothing

Old Navy is committed to pausing price hikes on select kids’ clothing through the end of September. A survey by KPMG estimated that families spent an average of $268 on back-to-school shopping in 2021.

Elon Musk said he would eliminate spam bots from Twitter if his bid for social media succeeds.

Mortgage rates continue to rise this week, reaching their highest level in more than a decade.