July 22, 2026
United States:
US Widens Strikes on Iran as Both Sides Downplay Diplomacy
The US widened the scope of its airstrikes on Iran overnight, as President Donald Trump and officials in Tehran signaled a renewal of peace talks is unlikely in the near-term.
American forces struck a military site near the north-western city of Tabriz, according to Iranian media, the first time the area is thought to have been hit since hostilities between the warring sides worsened two weeks ago.
Europe:
UK Inflation at 15-Month Low in Brief Respite for Consumers
UK inflation fell to its lowest level in over a year on cheaper motor fuel and food, a reprieve for households that may prove short-lived as a return to hostilities in the Middle East pushes up energy prices.
Consumer prices rose 2.6% in the 12 months to June, an easing from the 2.8% increase the previous month and the lowest rate since March last year, the Office for National Statistics said on Wednesday.
Asia:
Japan’s Trade Deficit Widens as Yen, Iran War Inflate Imports
Japan’s trade deficit unexpectedly widened in June as the weak yen inflated the value of imports and the war in Iran made oil more expensive.
The trade deficit expanded to ¥406.9 billion ($2.5 billion) on an unadjusted basis from a revised ¥391.8 billion gap in May, the Finance Ministry reported Wednesday.
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