The head of the World Trade Organization will step down, a year before his term is due to expire. The Geneva-based body confirmed Roberto Azevedo would resign at the end of August. He told ambassadors during a video conference that the move would allow them to choose a successor to confront what he described as a "new post-Covid reality". The WTO has struggled to remain relevant under Azevedo's tenure, with international trade tensions and protectionism on the rise.
Also on the show: nearly 3 million people applied for jobless benefits in the US last week, bringing the total for the last two months to over 36 million.
