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Chinese and Russian naval vessels participate in the Joint Sea-2014 naval...

China to hold drills with Russia in South China Sea

BEIJING - China and Russia will hold "routine" naval exercises in the South China Sea in September, China's Defense Ministry said, adding that the drills were aimed at strengthening their cooperation and were not aimed at any other country.

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U.S. jobless claims rise; labor market still strong

WASHINGTON The number of Americans filing for unemployment benefits rose more than expected last week, but the underlying trend continued to point to sustained labor market strength. Initial claims for state unemployment benefits increased 14,000 to a seasonally adjusted 266,000 for the week ended July 23, the Labor Department said on Thursday. Claims for the prior week were revised to show 1,000 fewer applications received than previously reported.

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