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Situational awareness:

  • China’s industrial sector has lost 5 million jobs in the last year, 1.8 million–1.9 million jobs because of the trade war with the U.S., according to a leading Chinese investment bank estimate. (SCMP)
  • Tesla announced its latest departure: Co-founder and CTO J.B. Straubel will leave the company after netting about $30.1 million from stock sales in less than 9 months. (Bloomberg)
  • Puerto Rico's Gov. Ricardo Rosselló announced his resignation, effective Aug. 2, after days of massive protests over leaked messages and a growing economic crisis. (LA Times)