Press TV's news headlines

Japan economic woes

Japan is feeling the pinch of skyrocketing energy costs as official data shows prices of essential commodities rose at their fastest pace last month. According to data released by the interior ministry, core consumer prices climbed 3.7 percent in November compared to the previous year. The rise in prices for processed food items as well as electricity and durable goods has been the highest in the last four decades. The Japanese Central Bank, unlike Western economies, has not yet hiked interest rates to tackle soaring inflation which has driven down the value of the yen against the dollar. The bank says it sees the recent price increases as temporary and that there is no reason to change course yet. The surge in food and energy prices around the globe has been largely attributed to the ongoing war in Ukraine and the West’s standoff with Russia.

US capitol attack probe

A US congressional panel probing the 2021 attack on the Capitol building has released its final report. It accuses former president Donald Trump of inciting the deadly riots and engaging in a conspiracy to overturn the 2020 election results. The 800-page report is based on more than 1000 interviews and hundreds of thousands of documents as well as federal and state court rulings. The report indicates the former president knew he had lost the election, but still pressured officials and his deputy against the vote outcome. He then directly summoned what the committee calls a violent mob and refused to ask his supporters to leave. The report is made public just days after the panel asked the justice department to charge Trump with four crimes, including obstruction and insurrection. It is the first time the US Congress has referred a former president to criminal prosecution in US history. Trump dismisses the committee and its report as a political witch-hunt.

US winter storm

A deep freeze coupled with a massive winter storm hits the US Mid-west, leaving two-thirds of the nation under extreme weather alerts. The National Weather Service says the storm has affected more than 200mn people as the country is heading into the Christmas holiday weekend. Even President Joe Biden has described the condition as dangerous and threatening. The storm is forecast to develop into a "bomb cyclone because of heavy snowfalls and chilling weather". Snow has blanketed areas stretching from the northern Plains and Great Lakes to the upper Mississippi Valley and western New York. It is expected to spread as far south as the US-Mexico border. More than 5000 flights scheduled for Thursday and Friday, have also been canceled, causing chaos among air-bound travelers.

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