Japan's foreign reserves post record $77.11 billion drop in May, largest monthly decline since 2000. Finance Ministry says reserves fell 5.6% to $1.31 trillion amid yen-buying intervention.

Drought drives U.S. cattle supplies to 75-year low as retail beef price hits record. USDA reports 57% of cattle in drought areas, pasture conditions at 42% poor or very poor.

U.S. ranchers are under pressure to sell or move cattle as drought dries pastures and water sources across major ranching regions, with the USDA reporting that 57% of cattle inventory is in drought areas. Retail beef prices have hit a record high.

U.S. consumer spending split by income as affordability strains persist, Fed Beige Book finds. Higher-income households resilient, but middle and low-income consumers show strain.

The Federal Reserve's Beige Book released Wednesday shows U.S. consumer spending is divided by income group amid affordability pressures, with higher-income households resilient, middle-income households cautious, and low-income consumers under financial strain.

Vietnam plans to pilot carbon trading platform in June, deputy climate official says. The facility will allow exchanges of emission quotas and credits, supporting net-zero goals.

Vietnam expects to pilot its carbon transaction facility in June if administrative procedures are completed on schedule, according to Deputy Director Nguyen Tuan Quang of the Department of Climate Change.

Chinese Xi Jinping to pay state visit to North Korea from June 8 to 9, Xinhua reports.

Xi Jinping will pay a state visit to the Democratic People's Republic of Korea on June 8-9.