Daily News Bulletin: Friday, August 29, 2025

Top Stories

Federal Reserve Watch Interest-rate markets remain on edge ahead of today’s Personal Consumption Expenditures (PCE) inflation report, as Fed board member Christopher Waller reiterated calls for a rate cut next month. Despite a stronger-than-expected Q2 GDP revision to 3.3% and a drop in weekly jobless claims, futures show an 84% probability of a quarter-point cut in September, with investors pricing in about 55 basis points of easing by year-end.

U.S. Tariff Exemption Ends At 12:01 AM EDT today, the six-month “de minimis” exemption for inbound shipments under $800 expired, reinstating standard duties on all global parcel imports. The change, initially extended to curb fentanyl flow from China and Hong Kong, is expected to raise costs and disrupt supply chains for e-commerce businesses and consumers.

Asia & Oceania

Thailand’s Prime Minister Ousted Thailand’s Constitutional Court removed Prime Minister Paetongtarn Shinawatra from office for ethical misconduct related to leaked phone calls with former Cambodian premier Hun Sen. The ruling plunges the country into further political uncertainty on the eve of key economic reforms.

Philippine Party-List Disqualification The Commission on Elections (COMELEC) rejected a petition by the far-right Duterte Youth to overturn their party-list deregistration, barring them from holding three seats in the House of Representatives. The group may appeal to the Supreme Court.

Former South Korean First Lady Indicted Kim Keon Hee, the wife of ex-President Yoon Suk Yeol, was indicted on bribery and related charges stemming from a wider corruption probe. Prosecutors allege she solicited luxury gifts in exchange for political favors.

Middle East

Gaza Hostage Crisis Update Israeli forces recovered the bodies of two hostages in Gaza, one identified as Elan Weiss, killed in the October 7 attacks. The developments underscore ongoing tensions in the Gaza war and the complexities of hostage negotiations.

Europe

U.S.-Russia Summit Looms President Donald Trump announced plans to meet Russian President Vladimir Putin in Alaska on August 15 to discuss pathways to end the war in Ukraine. The proposed summit has drawn mixed reactions from European and Ukrainian leaders, who emphasize the need for concrete peace terms.

Sports

Brazil Wins Women’s Copa América Femenina Brazil retained its regional crown with a 5-4 penalty shootout victory over Colombia after a 4-4 draw in Quito. Marta was named tournament MVP as Brazil claimed its ninth title.

Disasters & Accidents

Volcano Eruption in Kamchatka Krasheninnikov volcano on Russia’s Kamchatka Peninsula erupted today, the first eruption recorded since the 15th century. The event follows a magnitude 8.8 earthquake in the region on July 30, which may have triggered the volcanic activity.