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U.S. job openings fall, borrowing costs rise as economy slows
The number of available U.S. jobs fell sharply in August compared with July, a sign that companies may further cut hiring and could cool chronically high inflation. There were 10.1 million job advertisements on the last day of August, a sharp 10% drop from July’s 11.2 million vacancies. Job openings reached a record level of nearly 11.9 million in March. The sharp drop in job openings will be welcomed by the Fed. Fed officials see high job openings as a sign of strong labor demand, forcing employers to steadily raise wages to attract and retain workers.
Treasury creates racial equality commission to close gaps
The Biden administration is stepping up efforts to focus on reducing racial inequality, creating a new advisory committee that will help the Treasury Department implement policies aimed at closing economic disparities faced by communities of color. The Treasury Department’s Racial Equity Advisory Committee will include 25 members from academia, business and advocacy groups. It will meet four times a year to review and guide the Treasury Department and its leadership on a range of programs that touch nearly every corner of the economy. Biden administration officials say the focus on equity will help unlock decades of untapped economic potential.
White House unveils new measures to protect abortion access
President Joe Biden on Tuesday unveiled new measures to protect abortion access, 100 days after the Supreme Court ended the constitutional right to terminate a pregnancy, and called on Americans to pressure Congress to pass legislation to make abortion legal across the country. The actions come as reproductive rights have become a central issue in the national political campaign ahead of next month’s midterm elections. Democrats used the court’s decision to overturn Roe v. Wade to incentivize voters to elect lawmakers who would expand abortion rights nationwide and prevent Republicans from imposing further restrictions. At least 14 states now ban most abortions.
Journalist critical of Marcos shot dead in Philippines
A news radio host who was a prominent critic of Philippine President Ferdinand Marcos Jr. was shot dead in his car during an ambush near his home, authorities said Tuesday. Brigg said Percival Mabasa was killed Monday night outside the capital Manila by two men on motorcycles who later fled. Philippine National Police spokesman Gen. Roderick Augustus Alba. Alba said authorities were investigating the killing and a search was underway on Tuesday. In recent weeks, Mabassa has criticized the Marcos government, saying its corruption involved an anomaly in the importation of sugar through state agencies.
The retreating Russians left behind the bodies of their comrades
Russian troops abandoned a key Ukrainian city so quickly that they left the bodies of their comrades in the streets. The scene on Tuesday provided further evidence of Moscow’s latest military defeat as it struggles to gain control of four regions of Ukraine that it illegally annexed last week. Russia’s upper house of parliament rubber-stamped annexation on Tuesday after Ukraine and its Western allies dismissed a “referendum” on fraudulent grounds. In response to the move, Ukrainian President Volodymyr Zelensky formally ruled out talks with Russia. At the same time, the United States announced it would provide Ukraine with an additional $625 million in military aid, including more advanced rocket systems believed to help boost Ukraine’s military momentum.
South Korean missile crashes during exercise with US panicked city
A South Korean ballistic missile malfunctioned and crashed into the ground during a live-fire exercise with the United States, spooking residents of coastal cities already unnerved by North Korea’s increasingly provocative weapons tests. The sound of explosions and fires convinced many in Gangneung earlier on Wednesday that it might have been a North Korean attack, a concern that only intensified as officials offered no explanation for the explosion for hours. No injuries were reported from the crash. The military said it was investigating what caused the “abnormal flight” of the short-range Hyumoo-2 ballistic missile, a key weapon in South Korea’s strategy of preemptive and retaliatory strikes.
Haiti on brink of collapse as economic tanks and violence soar
Haiti, the poorest country in the western hemisphere, is in the grip of an inflationary vise that is squeezing its citizens and fueling protests that have pushed society to the brink of collapse. Violence is rampant and parents are afraid to send their children to school; fuel and clean water are scarce; hospitals, banks and grocery stores are struggling to stay open. Daily life in Haiti began to spiral out of control last month after Prime Minister Ariel Henry said he would scrap fuel subsidies, doubling prices. Protesters have vowed to keep up the pressure until Henry resigns.
Via Wire Source
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