U.S. weekly jobless claims come in at their lowest level since the early days of the pandemic, helping Wall Street to new record highs. We are live at the Ambrosetti Forum on the shores of Lake Como where former World Bank chief economist Joseph Stiglitz tells CNBC that he welcomes a tighter labour market. China’s services sector shrinks in the month of August, according to a private survey, plunging to levels not seen since the start of the pandemic. In Japan, Prime Minister Yoshihide Suga announces plans to resign, saying he will not run for re-election later this month. And in Italy, Prime Minister Mario Draghi says he may introduce a vaccine mandate.

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