Morning Edition · Friday, August 14, 2026
Markets
Washington makes cheaper fuel its stated top aim in the Iran war as Treasury threatens total economic isolation
Vice President JD Vance ranked petrol prices above stopping Iran's nuclear programme as the administration's top war priority, while Treasury Secretary Scott Bessent said a continued blockade would stop goods from moving in or out of Iranian ports.
Macro
White House says tariff evasion costs it up to $26 billion a year as Brazil opens a retaliation process
Trade adviser Peter Navarro named more than 40 countries as channels for Chinese goods, and Brazil's government began proceedings under its reciprocity law without committing to counter-tariffs.
Tech
AI capital spending moves into foreign bond markets as model prices collapse
Bond sales by Amazon and Alphabet have pushed up borrowing costs in Canadian dollars, Swiss francs and sterling, at the same time as OpenAI and Anthropic cut prices in response to cheaper Chinese models.
Macro
Carry traders rebuild yen short positions weeks after the coordinated intervention
The yen has reversed roughly half the gains from the July intervention, and Japanese utilities are turning to power futures to hedge fuel costs that a weak currency makes worse.
Macro
Hong Kong will list the first Shanghai free-trade zone bond as China builds financial channels outside the dollar
Hong Kong Exchanges and Clearing announced the listing on Thursday to defend its position as the main offshore yuan centre against competition from the mainland.
Macro
Trump imposes tariffs of up to 100% on imported drones and their components
The top rate applies to aircraft above 25 kilograms or carrying thermal imaging, while allied producers in the European Union, Japan and South Korea face 15%.
Markets
Tata Motors profit falls 80% as Gulf shipping disruption reaches Indian corporate earnings
Jaguar Land Rover volumes fell 9.2% on supply constraints that the company attributes partly to the Middle East conflict, while Indian benchmarks opened lower with crude near $87.
Geopolitics
Russian state media report damage to power and industrial infrastructure on both sides of the front
TASS said an installation and an enterprise were hit in Ukraine's Zhytomyr region, while nearly 30,000 customers in Donetsk lost electricity in what local officials called an emergency shutdown.
Geopolitics
North Korea warns of a new deterrent as American and South Korean forces prepare an 11-day exercise
Ulchi Freedom Shield begins on Monday with about 18,000 South Korean troops and new drills against drones, satellite navigation jamming and cyberattacks.
World
Record rain near Tokyo kills four and strands about 7,000 travellers at Narita airport
More than 360 millimetres fell in 24 hours in parts of Chiba prefecture, and forecasters issued the region's highest-level rain warning for the first time.
Geopolitics
Pakistan marks 79 years of independence while pressing for a larger role abroad
Civilian and military leaders called for unity and economic reform on a day when the country's ambitions for greater international influence contrast with unresolved domestic political conflict.
World
Prabowo claims self-sufficiency in eight food commodities as his approval ratings fall
The Indonesian president told the annual parliamentary session his government had enacted 121 policies in 21 months and saved $6.2 billion through audit recommendations.