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Japan's June core inflation increases, but remains below BOJ target
Japan's core price inflation rose in June, but it remained below the central bank's target of 2% for a fifth consecutive month. This suggests that firms have not yet aggressively passed on rising input cost to consumers. Analysts expect that consumer inflation will accelerate in the second half of this year, as the recent spike in producer prices, fueled by the rising cost of fuel and imports from the Middle East conflict, and the weakening yen, filters through to the rest the economy. Analysts say that the yen's decline to its lowest level in four decades is likely to increase inflationary pressures and maintain market expectations of future interest rate increases by the Bank of Japan. Sarah Tan, an economist with Moody's Analytics, said that the inflation outlook is heavily dependent on what happens in?the Middle East? and its impact on global commodities prices. The concern is that nominal wage increases may not keep up with inflation. This will impact real wages and consumer spending. "A renewed depreciation would intensify imported inflation." Data showed that the core consumer price index (CPI), excluding volatile food prices, increased 1.6% from a previous year in June, a rise that was in line with market expectations and faster than the 1.4% increase seen in May. This is partly due to the effect of the sharp drop in gasoline prices last year, caused by government subsidies. The data revealed that food inflation declined due to the falling price of rice. Meanwhile, service inflation fell to 1.2% in June from 1.4%, despite gains in wages. The BOJ closely monitors an index that excludes volatile fuel and fresh food, which is a better measure of inflation. It rose by 1.7% from a year ago in June after rising 1.8% in May. Next week, the central bank is expected to examine the data at its policy meeting and announce new?quarterly forecasts. Marcel Thieliant is the Asia-Pacific head at Capital Economics. He said that there are no clear signs that BOJ's fears about inflation risks are becoming a reality. "Producer price inflation accelerated in recent months," the Bank said. The Bank's concern about inflation risks will not have diminished as crude oil prices approach their recent highs - and the yen falls to new lows against the US dollar. The producer price index jumped 7.1% in June, the fastest rate in over three years. The BOJ increased?interest rates in June to a high of 31 years, a milestone in its policy normalisation. It was a sign that it is ready to tighten even more as it concentrates on taming the price pressures caused by the energy shock caused by the U.S. and Israeli war against Iran.
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IAEA: Military activity affects water supply at Zaporizhzhia Nuclear Plant and nearby town
The U.N. nuclear watchdog reported on Thursday that military activity had affected water supplies in parts of the Russian-held Zaporizhzhia Nuclear Power Station and nearby areas of southeast Ukraine. In the first few weeks of the Russian invasion of Ukraine in February 2022, Russian forces captured the largest nuclear power station in Europe, with six reactors. Since then, both sides have accused each other of actions that compromise nuclear safety. Rafael Grossi said that there is no shortage of water to keep the fuel cool in reactors. The attacks on and around Enerhodar - where many plant staff live - "targeted local electrical infrastructure and led to a loss of water supply in the ZNPP and the city." Grossi added that IAEA monitoring staff stationed in the plant had only limited access to water since 18 July. Grossi has visited the plant a number of times since the Russians took over the operation. He made no mention of either Russia or Ukraine in relation to the military activity. The IAEA?on-site?team has not been able?to?visit an emergency operations center nearby since December due to security concerns. Last week, Rosatom, the state-owned nuclear corporation of Russia said that a Ukrainian drone killed the plant's chief engineering. Grossi reiterated in his latest statement that the nuclear power plant employees "must always be protected."
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Newmont's profit beats expectations on higher gold prices
Newmont beat analysts' estimates for the second quarter profit on Thursday as higher gold prices helped to offset lower production. Gold prices have been rising on the back of a steady demand for safe-haven assets and hopes that U.S. rates will be cut. However, a stronger dollar as well as inflation fears fuelled by oil price volatility during the Iran War has?limited gains. Gold prices that are higher usually boost revenue and margins for miners. Prices for 'the yellow metal' averaged $4,606.41 per ounce during the second quarter 2026. This is up 37% from one year ago. Newmont's average quarterly realized price of gold was $4,414 per ounce. This compares to $3,320 an ounce one year ago. The quarterly gold production was 1.29 million, down from 1.48 million the year before. In extended trading, its shares dropped 1%. According to data compiled and analyzed by LSEG, on an 'adjusted' basis, the company earned a profit of $2.10 for the quarter - ended June 30 compared to the analysts' average estimate of $1.99.
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Chile investigates Antofagasta’s Los Pelambres Mine after rainwater discharge
Antofagasta Minerals, a Chilean copper mining company, said on Thursday that its flagship mine Los 'Pelambres is safe following an investigation by Chile's environmental regulator into a water discharge incident caused by extreme weather. On Wednesday, the regulator said that Antofagasta released water into the Pupio Waterway from a drainage pool after heavy rains caused an?avalanche near the site. Antofagasta has said that the controlled release of water from two pools downstream the tailings?dam?wall was part of its water management system. Water from the tailings dam was channeled to the Pupio stream whose flow had already increased significantly because of rain. The company reported that the tailings pond was "stable and in accordance with its design parameters and safety parameters with no risk to people or surrounding?environment." * The regulator stated that it will continue to evaluate whether any further action is needed. Chile has been hit by heavy rains?from the north-central region to the south causing flooding, road closures, and home damage. * Copper mines are usually prepared for winter with contingency plans. However, the intensity of the storm has forced some to reduce their activities. *?Los Pelambres is the largest copper mine in Antofagasta, located in Chile's Coquimbo region.
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Officials say five Palestinians were killed in an Israeli strike and violence in the West Bank.
According to Palestinian officials and the Israeli military, an Israeli airstrike on Thursday killed two Palestinians, including two children, in northern Gaza. Three other Palestinians were also shot dead in the West Bank. Israel's military claimed it had targeted "militants" in Gaza. A senior Israeli military official confirmed that a civilian killed two Palestinians after they had stabbed an Israeli and injured him during a dispute. After a separate stabbing attack in which an Israeli soldier was injured, the Israeli military confirmed that its forces had shot a third Palestinian. Israel has launched nearly daily attacks on Gaza in what it claims are attacks against Hamas militants. This is more than nine month after the U.S.-backed "ceasefire" in the enclave. According to Palestinian and Israeli statistics, more than 1,160 Palestinians as well as four Israeli soldiers were reported dead since the fragile truce began in October. Palestinian medics claim that the majority of those killed are civilians. The Palestinian Authority's official media agency WAFA reported that Israeli soldiers and settlers attacked Palestinians in the West Bank as they attempted to extinguish a nearby fire. Two Palestinians stabbed a soldier, according to an Israeli military official. "Friction" broke between Israeli settlers and Palestinians while trying to put out the fire. Official, who did not want to be named, claimed that an Israeli "civilian", which is an apparent reference of a settler killed the two Palestinians. The West Bank has been a hotbed of tensions due to the escalating violence between Israelis and settler groups, as well as Israeli plans to expand settlements in territory Palestinians consider a "key" part of their future state. Around 700,000 Israelis live with 2.7 millions Palestinians in the West Bank and East Jerusalem. Most foreign governments claim that Israel's settlement activities in the West Bank, where the Palestinian Authority has limited autonomy, are illegal under international law. Israel disagrees with this view. Reporting by Ali Sawafta and Steven Scheer; Writing by Pesha Magd; Editing Andrew Heavens
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Blackstone CEO addresses AI concerns raised by the community
Stephen Schwarzman, Blackstone's CEO, said that the company is addressing the social and environmental implications of artificial intelligence, as opposition to the construction of data centers in the United States grows. Blackstone and private capital firms pour tens or hundreds of millions of dollars in infrastructure and businesses that are aiming to increase computing capacity and run models that consume a lot of power. A June /Ipsos poll found that the deeply divided American electorate was united by their opposition to the construction of data centers. Only 14% said they would "support" a facility being built for technology companies in their locality. Schwarzman, on a recent conference call, said that Blackstone works closely with its portfolio companies, including the data-center business, "to address workforce, environmental, and community implications through the creation union jobs, training for the workforce, water-free cooling systems, increased power generation, as well as significant local economic investments." Schwarzman stated that while AI's impact could be similar to the Industrial Revolution, which ultimately raised living standards, it also causes anxiety because of the uncertainty about how technology will evolve. Blackstone, the private equity firm that bought QTS for $10 billion dollars in 2021, announced earlier this month it had halted a Virginia project after years of planning. The project was halted after years of planning due to a'strong local opposition, litigation and disagreements. The U.S. administration of President Donald Trump sees AI development as a race with China but also works to protect households from the rise in energy prices that will follow. Schwarzman, who has been a Trump donor for many years, said he personally spent "a lot of time" with leaders in the AI industry and policymakers to think about ways to deal with these issues while maintaining America's AI lead. (Reporting and editing by Nia William; Isla Binnie)
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Michigan reports 7,644 cases of cyclosporiasis in ongoing outbreak
Michigan health officials announced?on Thursday, 7,644 cases of cyclosporiasis (an intestinal infection) linked to a recent outbreak. This is an increase of 473 since the last state update, a day earlier. According to the Michigan Department of Health, this outbreak has resulted in 160 hospitalizations. There have been no reported deaths. Cyclosporiasis is caused by the Cyclospora worm and can cause diarrhea, nausea, and other gastrointestinal problems. This parasite can be spread by eating raw fruit and vegetables or drinking water that has been contaminated with feces. According to the Centers for Disease Control and Prevention, cyclosporiasis cases have steadily increased in the U.S. over the past few months. The agency reported earlier this week that 4,173 people in 41 states had contracted the parasite and 308 were hospitalized. On?Wednesday, the U.S. Food and Drug Administration announced that it was investigating an outbreak of cyclosporiasis. 72 cases were linked to a source which has not yet been identified. The FDA's outbreak tracker lists six active Cyclospora outbreaks, including four ongoing investigations and two that are no longer under investigation but still remain under investigation. A spokesperson from the U.S. Department of Health and Human Services said that the "Trump administration mounted a robust reaction to this outbreak by working closely with health departments?in all 50 states and leading public health response, promptly identifying the known sources and giving Americans the information they needed?to protect themselves." HHS stated that as the FDA investigation continues, it is possible to identify additional brands, restaurants or retailers. The CDC is currently investigating over 7,400 additional infections reported that have not yet been laboratory confirmed. Many of these are in Michigan and Ohio. The agency had linked the outbreak with shredded iceberg salad served at Taco Bell in certain states. Mexico Health Minister David Kershenobich said on Tuesday that there is no evidence to date that lettuce from Mexico has caused the outbreak. U.S. officials are still investigating a lettuce outbreak that has been linked to five states. (Reporting and editing by Tasimzahid, Shilpa Majumdar and Siddhi Mahtole from Bengaluru)
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US imports the first fuel oil cargoes via Syria as Iraq uses a new export route
According to two sources and shipping data, the United States is now importing fuel oil from Iraq via Syria. This comes as Iraq continues to expand its?Mediterranean trade route, which was established following disruptions in Gulf trade routes earlier this summer. This alternative route shows that'shippers are looking for ways to circumnavigate Strait of Hormuz which has been 'effectively closed since several months and hindering Gulf oil imports due to the Iran War. According to Kpler Shipping Data, three Aframax tanks loaded fuel oil in Syria's Mediterranean Port of Baniyas from June to July, for delivery to U.S. Gulf Coast. Sources with direct knowledge about the operations at the Syrian Terminal said that the fuel was Iraqi. On Passion, the first tanker to leave Baniyas with 716,600 fuel oil barrels, left on June 17. Kpler reports that 487,600 of the barrels will be discharged at?the Bahamas by mid-July. The remainder is expected to arrive in Texas in late July. The Nissos Cristina loaded around 288,500 barrels in Baniyas and departed on July 8 to discharge in the U.S. Gulf Coast early in August. Meanwhile, the Green Warrior had loaded approximately 414,400 of fuel oil between mid-to-late July to arrive in the United States during the third week in August. Sources said that the cargoes were loaded with Iraqi oil, which was transported across the border to Syria by truck and then loaded at Baniyas. According to Kpler, these are the first fuel shipments ever from Syria destined for the United States. According to an?engineer working at the Baniyas Terminal, Syria has not exported petroleum products or crude oil for many years. The only exception was a shipment made in September 2025. The engineer stated that all current Baniyas shipments are restricted to Iraqi fuel oils. The Syrian Petroleum Company, Syria's state owned company, did not respond immediately to a comment request. SPC reported in June that Baniyas had been loading one tanker with Iraqi fuel oil each seven to ten days since the new reexportation route began in early May. Around 900 tanker trucks were unloading at the terminal every day. LSEG shipping information shows that Iraqi fuel oil exports through Baniyas have also?been shipped to customers in different countries across the Mediterranean including Spain and Egypt. Last month, it was reported that Iraq intended to expand its arrangement to export crude oil and naphtha via Syria. This came after disruptions in shipping through the Strait of Hormuz led Baghdad's government to look for alternative export routes. Iraqi and Syrian officials stated that Iraq planned to continue to use the Syrian corridor, even after traffic through Hormuz returned to normal. This was part of a diversification strategy and a reduction in reliance on one route. Sources said that although Syria has equipped Baniyas with facilities for crude oil and naphtha handling, exports have not yet begun. Kpler reports that the United States has not imported Iraqi fuel since March. The data shows that U.S. imports of fuel oil are typically from Mexico, Algeria, and Iraq. The data showed that Baniyas, which has increased fuel oil exports, is also a major supplier to the U.S. Gulf, and the U.S. Gulf has had to fill the gap created by the Mideast Gulf's?flows. The shipments show how regional trade has continued to develop following the disruption of Gulf shipping caused by the Iran War. Iraq is increasingly relying upon Syria's Mediterranean Port to reach customers across Europe, Africa, and now North America. Reporting by Georgina Mccartney in Houston, and Feras Dalatey in Dubai. Editing by Liz Hampton & Andrea Ricci.
Wisconsin protesters demand justice after a man is killed by police
On Thursday, hundreds of protesters gathered in Madison, Wisconsin, to demand that police be held?responsible for the death of a man, which was captured by witnesses on video.
Social media went wild with the shooting death of Corey Ruiz. Local community advocates and Wisconsin media outlets identified him as Black. This rekindled some of the anger that arose after the Minnesota police killed George Floyd in 2020 and other deaths which 'have raised questions about racism in police force use in the United States.
The police said Ruiz was armed with a blade that injured one of the officers who wrestled Ruiz down. According to the video, during the struggle, the officer pulled out his handgun and shot what sounded like three shots from a close range.
Demonstrators gathered late on Wednesday at the scene, and also at the Capitol where a concert outside was cancelled due to the protests.
Demonstrators returned on Thursday to the scene, and placed flowers in the streets. The organizers introduced Ruiz's relatives, including his daughter, to the crowd.
On Thursday morning, several protesters demanded that the officers should be jailed. They held up signs like "Corrupt cops also deserve to die !!!"
A video from Wednesday shows a?man being wrestled by four uniformed officers amid shouts such as "Let him go" and "He has a knife."
Patterson stated that an officer had used a Taser at some point to?try and subdue this man. However, for unknown reasons, it was not successful.
Ruiz was stopped by police after reports that a man had been looking in parked cars. Patterson believes that a second call at the same time, about an "unlawful entry to a home", may have increased police presence.
Patterson stated that the Wisconsin Department of Justice, Division of Criminal Investigation, is conducting an independent investigation into homicide. (Reporting and editing by Donna Bryson, Christopher Cushing, and Daniel Trotta from Vista in California)
(source: Reuters)