Hongkongers, mainland residents embrace Payment Connect service on first day

This piece argues that economic policymakers are struggling to keep up with the realities of climate change, especially as extreme weather events—like the recent UK heatwave—disrupt economies and drive inflation. Companies often hike prices during climate-related "cost shocks," and current policy tools aren’t designed to handle this new normal. The article also highlights how poorer nations, hit hardest by climate disasters, are calling for support from wealthier countries that historically contributed most to the problem.

Editor’s Note: Climate change isn’t just an environmental issue—it’s reshaping economies in ways policymakers aren’t prepared for. If governments don’t adapt their strategies, inflation and inequality could spiral further, leaving vulnerable populations even worse off. This isn’t a distant future problem; it’s happening now, and the article pushes readers to see the urgency behind rethinking economic policy.

Oil prices are set to rise after the US launched strikes against Iran-backed targets, sparking fears of potential supply disruptions in the already tense Middle East. Traders are factoring in a "risk premium" – essentially a price bump reflecting uncertainty – as geopolitical tensions threaten key oil-producing regions.

Editor’s Note: When tensions flare in the Middle East, oil markets react fast. Even if supply isn’t immediately disrupted, traders price in the possibility of future shocks—meaning higher costs at the pump could be on the horizon. For everyday consumers, this is another reminder of how global conflicts ripple through the economy.

Costco is experimenting with a new store format, but early signs suggest it might not live up to members' expectations. The warehouse giant is known for its bulk deals and loyal fanbase, but this pivot could leave shoppers feeling underwhelmed—or even frustrated.

Editor’s Note: Costco’s reputation hinges on delivering value and convenience to its members. If this new concept misses the mark, it could dent trust in a brand people usually swear by. For retail watchers, it’s a test of whether even the most beloved chains can stumble when they stray from what works.

The UK's new Labour government has axed a £950 million fund originally promised by the Conservatives to boost rapid EV charging along motorways, calling it slow and ineffective. Instead, they’re redirecting £400 million toward on-street charging in towns and cities—prioritizing local needs over highway infrastructure. The original fund, launched in 2020 under Rishi Sunak, faced years of delays and never got off the ground.

Editor’s Note: This isn’t just about shifting money—it’s a sign of how messy the transition to electric cars has become. The Conservatives’ plan stalled, and Labour’s pivot suggests they’re ditching grand highway projects for more immediate, neighborhood-focused solutions. For drivers, it could mean slower progress on long-distance charging but (maybe) better access in cities. Either way, it highlights the challenges of actually delivering on green promises.

Former President Donald Trump claimed the US has "obliterated" Iran's nuclear sites, though he provided no evidence to support this. Meanwhile, Iran's government fired back, vowing to use "all options" to defend itself, escalating tensions between the two nations. The exchange comes amid long-standing friction over Iran's nuclear program and US sanctions.

Editor’s Note: This isn't just tough talk—it's a reminder of how fragile relations between the US and Iran remain. With no clear proof of Trump's claim and Tehran's sharp response, the situation risks fueling misunderstandings or even unintended conflict. For anyone watching global stability, this kind of rhetoric matters because it could push an already tense standoff closer to the edge.