China Halts Cooperation with U.S.
China announced it is halting cooperation with the U.S. on several key issues, including climate change, military talks, and international crime efforts following Nancy Pelosi’s visit to Taiwan. The Chinese government also announced sanctions against Pelosi and her family.
Read More:
https://www.bbc.com/news/world-asia-china-62438262
https://apnews.com/article/taiwan-china-asia-beijing-b252479810add6a225fa1e4a6d441983
What Recession? U.S. Adds 528,000 Jobs in July
In spite of recession worries and warnings, the U.S. added 528,000 nonfarm jobs in July, and unemployment fell to 3.5% from 3.6% in June. In addition, average hourly earnings rose an additional, 0.5%, up 5.2% from July 2021.
Read more:
https://www.cnn.com/2022/08/04/economy/monthly-jobs-report-preview-july/index.html
Reuters Reporters Go On Strike For the First Time in Decades
Nearly 300 Reuters employees including reporters, photographers, and video journalists walked off the job in a daylong strike on Thursday, the first union action at the media giant in 30 years. The union is protesting the company’s proposal of a three-year contract with only 1% annual pay increases, which union organizers say will erode employee spending power in the face of 9% inflation.
https://www.axios.com/2022/08/04/reuters-strike-journalists-union
