FRANKFURT, Germany (AP) – The European Central Bank on Thursday became the first major central bank to raise interest rates in response to the Iran war as policymakers around the world including new U.S. Federal Reserve Chair Kevin Warsh wrestle with how to confront the inflation fed by sharply higher oil prices.

WASHINGTON (AP) – U.S. producer prices climbed last month at the fastest pace since November 2022, fueled by a surge in energy prices after the start of the Iran war. The Labor Department reported Thursday that its producer price index – which captures inflation before it reaches consumers – jumped 6.5% from May 2025.

Excerpts from recent editorials in the United States and abroad:

The average long-term U.S. mortgage rate ticked up this week to just below its high for the year, the latest sign that borrowing costs on home loans remain elevated relative to where they were before the war with Iran started.

SAN FRANCISCO (AP) – Anthropic will donate $150 million to launch a fellowship program that places coaches with nonprofits around the country to help them use artificial intelligence more effectively in their work.

NEW YORK (AP) – When SpaceX makes its debut on the U.S. stock market, it wants smaller-pocketed, mom-and-pop investors to play a big role in what may be the biggest IPO ever. Elon Musk’s rocket company, formally known as Space Exploration Technologies Corp., is steering some of its initial public offering of stock directly to what are called “retail” investors.

NEW YORK (AP) – Peer-to-peer payment service Zelle will expand to India later this year, the payment service’s first international market since the payment service launched nearly a decade ago.

HONG KONG (AP) – China’s passenger car exports jumped 73% year-on-year in May to around 809,000 vehicles, an industry group reported Wednesday, as higher gasoline and diesel prices due to the war in Iran raised interest in electric vehicles.