Rice prices doubled last month in Japan as core inflation accelerated, official data showed Friday, posing a threat to Prime Minister Shigeru Ishiba ahead of July elections. In May, Japan's core inflation rate, which excludes volatile fresh food prices, hit 3.7 percent -- its highest level since January 2023 -- interior ministry data showed.
Asian stocks fell Thursday after the Federal Reserve warned Donald Trump's trade war would likely reignite US inflation and dampen economic growth, while oil prices edged down as investors awaited developments in the Israel-Iran conflict. Still, with no concrete signs of escalation, oil prices edged down after another volatile day on Wednesday.
Bolivia, battling an economic crisis that has plunged it into social unrest, risks defaulting on its loan payments if it does not obtain new foreign financing, President Luis Arce told AFP on Wednesday. Arce has dismissed calls to stand down over an economic crisis marked by a dire shortage of foreign currency, fuel and other basics.
Google-owned Waymo on Wednesday said it has applied for a permit to start testing its self-driving cars in New York City, a first for the Big Apple. New York State law limits the use of autonomous cars to testing and does not allow Waymo to offer the kind of robotaxi services it provides in San Francisco, Los Angeles, Phoenix and Austin, a Waymo spokesperson said.
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