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U.S. hiring is slowing how the latest jobs report could take pressure off the Fed.

Plus billionaire investor Carl Icon bows to activist pressure.

It does show that at least for Hindenburg Research, I think the kind of the threat of short

activism even to, you know, the kind of masters of the universe like Icon is not to be underestimated.

And private equity firm KKR is an advanced talks to buy Simon and Schuster. It's Friday,

August 4th. I'm Amary for Tolly for the Wall Street Journal. This is the PM edition of What's

News, the top headlines and business stories that moved the world today.

U.S. hiring was steady in July with employers adding 187,000 jobs to the economy.

The Labor Department also reported that the unemployment rate fell to 3.5 percent

near a half century low. Wage growth was steady and still at a higher level than before the pandemic.

The latest report, as we know, provides key data for the Federal Reserve as it weighs the path

of rate hikes to combat inflation and slow the economy. Here now to break it down is Wall Street

Journal labor economics reporter Sarah Cheney Kimballan. Sarah, overall this report adds to signs

that we've been seeing that the economy is easing. Are we more or less on track for what the Fed wants

to see? What we saw is that hiring gains have slowed in recent months and that included in July

and that's exactly what the Fed wants to see as they have raised interest rates over the past

year and a half or so. They want to see a cooling economy and so this report kind of adds to

other evidence that that is indeed happening. I want to pull out a couple of points here.

...