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The US Federal Reserve has decided to keep interest rates unchanged, with the move coming as inflation climbs to its highest level in three years. The decision means borrowing costs stay put even as price pressures build, leaving households, businesses and investors watching for signals on when policy might tighten.

The Wall Street Journal profiles a 26-year-old Russian soldier who defected and passed his army's battle plans to Ukraine, according to its report on the case. The story details how the young serviceman turned against Moscow and shared intelligence that could have shaped Ukrainian battlefield decisions. It is drawing wide attention as a rare look inside Russian military defections during the war.

Economists are split over whether the US Federal Reserve will raise interest rates before the end of the year. ABC News reports a lack of consensus among analysts, with competing views on inflation trends, labour market strength and the pace of economic growth shaping their forecasts for the Fed's next policy decisions.

Defense experts say a plan backed by Donald Trump to license production of Patriot missiles for Ukraine could take years to implement, rather than providing immediate battlefield relief. Setting up licensed manufacturing involves industrial agreements, technology transfers and production ramp-up, meaning Ukraine's air defense shortages may not ease quickly under the proposal.

North Korea has carried out its first underwater-launched ballistic missile tests in nearly three years, according to major US news outlets reporting the development. The tests mark a resumption of a weapons category Pyongyang has previously used to demonstrate its ability to strike from submarines or submerged platforms. The launches are likely to draw international concern and possible discussion of a response at the UN.

A storm developing over the Pacific Ocean is forecast to intensify rapidly and could rank among the most powerful tropical systems on the planet in 2024. Meteorologists are tracking its path as it strengthens, with forecasts suggesting exceptionally high winds at peak intensity. Attention is on where the storm will head and how severe its impact could be for islands or coastlines in its track.

The United Nations reports that disasters cause an estimated $228 billion in housing losses annually worldwide. The figure highlights the mounting economic toll of floods, earthquakes, storms and other hazards on homes and communities, and is likely intended to underline the need for stronger investment in resilient housing and disaster risk reduction ahead of international policy discussions.

Francois Villeroy de Galhau, governor of the Bank of France, told CNBC that France is 'putting the house in order' and can bring its budget deficit down to 3% of GDP within three years. The comments come as France faces pressure over its public finances and political uncertainty over the budget, and will be scrutinised by investors watching French borrowing costs.

European Union leaders are pushing back against a major budget proposal, leaving an agreement by the end of the year in doubt. The resistance highlights divisions among member states over spending priorities and contributions, complicating efforts to finalize the bloc's long-term financial framework on schedule.

Italy plans to raise almost €11 billion from the financial sector over the next three years, according to a Reuters report. The measure is part of the government's budget planning and will involve contributions from banks and insurers, adding to debate over Rome's reliance on the financial industry to shore up public finances.

Israeli National Unity party member Gadi Eisenkot has pledged to end Hamas rule in the Gaza Strip within 18 months. The remark drew attention because Benjamin Netanyahu made a similar-sounding pledge 17 years ago that went unfulfilled, prompting criticism that politicians keep making promises about Gaza that they fail to deliver.

An energy agency has revised down its forecast for global oil demand for the year, according to reporting by multiple news outlets. The cut signals weaker expected consumption than previously anticipated, a development closely watched by markets, producers and policymakers for its implications on prices and economic growth. Details on the size of the reduction or the agency's stated reasons were not provided in the available reports.

A court in China has sentenced the former mayor of Wuhan to 14 years in prison after convicting him of bribery. The case, announced as breaking news, has drawn wide attention on social media, with many users sharing the news and commenting on China's ongoing anti-corruption campaign targeting senior officials.

EU leaders are pushing back against a key budget proposal, putting a year-end agreement at risk. The challenge to the proposal threatens to delay or derail the deal that negotiators had hoped to close before the end of the year, highlighting divisions among member states over spending priorities.

French anti-terror prosecutors have opened an investigation after the arrest of a 14-year-old in connection with a school shooting. The case has drawn international attention, with major outlets including ABC News and The Independent reporting on the rare move to involve anti-terrorism investigators in an incident involving such a young suspect.

Pew Research Center reports that the 119th US Congress has so far enacted legislation at a pace that ranks among the least productive of the past four decades. The analysis compares laws passed at this point in the congressional session against comparable periods since the 1980s, placing the current Congress near the bottom of that historical range.

The European Union has postponed by one year the application of its methane emission rules covering oil and gas imports. Under the regulation, importers would eventually have to prove that foreign suppliers meet EU standards on limiting methane leaks from oil and gas production. The delay pushes back the compliance deadline for exporting countries and companies, drawing attention from energy producers and climate advocates watching how strictly Brussels enforces its green rules.

Mary Tsingou Menzel, the mathematician whose contribution to a famous physics simulation went uncredited for roughly 50 years, has died. Her work on the Fermi-Pasta-Ulam numerical experiment, long known without her name, was eventually recognized and the problem renamed to include her. Readers are mourning her and revisiting the story of how her role was finally acknowledged.

Pew Research Center reports that the 119th Congress has so far been among the least productive of the past 40 years, based on the volume of legislation it has passed. The finding highlights a slow legislative start in Washington, renewing debate over gridlock and the ability of lawmakers to move bills through both chambers.

A court in China has sentenced the former mayor of Wuhan to 14 years in prison on charges of bribery and corruption. The sentence was announced on Tuesday and quickly spread across news and social platforms, with many noting the scale of the penalty. It adds to a continuing series of high-profile corruption prosecutions targeting former senior officials in China.