Vance Says Iran Conflict Isn’t a ‘War’; August Jobs in Focus

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) US Vice President JD Vance downplayed the scope of the conflict in Iran, saying he would not describe it as “a war” given major combat operations ended months ago — even after a brief resumption of military strikes earlier in the week. 2) Bloomberg Economics expects the unemployment rate to rise in August, and payroll gains to increase at a subpar pace. We see risks to our forecast tilted toward a higher unemployment rate and even lower payrolls. 3) Anthropic PBC is set to finalize an expansion of its revolving credit facility to $15 billion, according to people familiar with the matter, clearing a hurdle before the artificial intelligence firm’s public filing for its highly anticipated IPO. See omnystudio.com/listener for privacy information.