‘COVID-zero’ China, jobs galore, and a woman rises as Cuomo falls

Bitcoin seems to be once again closing in on $50,000, Turkey’s central bank has resisted calls from the president to cut its interest rate and the administration of United States President Joe Biden wants OPEC+ to turn on the oil taps, like, yesterday.

Phew. It’s been a big week for business and economic news, so if you’re in the August doldrums and haven’t been reading closely, fear not. We have everything you need to know to impress yourself and your friends — then enjoy your weekend.

Bitcoin seems to be once again closing in on $50,000, Turkey’s central bank has resisted calls from the president to cut its interest rate and the administration of United States President Joe Biden wants OPEC+ to turn on the oil taps, like, yesterday.

Phew. It’s been a big week for business and economic news, so if you’re in the August doldrums and haven’t been reading closely, fear not. We have everything you need to know to impress yourself and your friends — then enjoy your weekend.

5.3 million

The number of barrels per day (bpd) the International Energy Agency sees global oil demand rising by, a downward revision that reflects growing concerns about the economic impact of the Delta variant of the coronavirus and new lockdowns in China, which is the world’s largest oil importer.

The timing could not be worse for members of the Organization of the Petroleum Exporting Countries and its allies – a grouping known as OPEC+ – which agreed to open the taps to the tune of 400,000 bpd each month starting in August.

17 percent

The average gender wage gap per hour worked in Latin America before the pandemic – and it’s likely gotten worse.

Women in the region are falling further behind as COVID-19 exacerbates historic inequities, makes the informal work many rely on more precarious and erases the hard-won economic gains they’ve already made.

10.1 million

The record-breaking number of US job openings in June, a sign that American consumers are back to dining out, staying in hotels and spending money at other service-industry businesses. Some 3.9 million Americans quit their jobs the same month. That’s a lot of goodbye cakes — and a signal of how confident people are feeling about their employment prospects as the economy recovers from COVID-19.

41

The number of Fortune 500 companies that are currently run by women. And while that’s a record, it shows corporations still have miles to go before hitting gender parity in the C-suite. Ditto for the US government, where only 143 out of 535 members of Congress are women, and eight out of 50 states are currently led by female governors.

On August 24, that number will jump to nine, however, when Kathy Hochul, New York’s lieutenant governor, officially takes over from Andrew Cuomo, who resigned this week after he was accused of harassing 11 women in a report released by the US state’s attorney general.

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