Daily briefing · Thursday, October 15

Gasoline drives U.S. inflation to 3.7%

U.S. consumer prices increased 0.6% in September and 3.7% over the past year, the Bureau of Labor Statistics reported Wednesday. Annual inflation was 3.4% in August. Gasoline jumped 9.1% for the month, accounting for more than half the overall monthly increase, while food prices were unchanged. Excluding food and energy, prices rose 0.3% monthly and 2.6% annually. Together, the measures show a large energy contribution alongside continuing price increases elsewhere. The overall index averages many purchases, so households with different driving, housing and food expenses can experience different changes. Consumer Price Index — September 2026

South Korean shares fall 7.57% as chipmakers retreat

South Korea’s Kospi fell 7.57% Thursday, with Samsung Electronics down 9.48% and SK hynix down 11.06%. A decline exceeding 8% during trading triggered a 20-minute market suspension before shares recovered part of their losses. Japan’s Nikkei also closed 4.90% lower. The selling followed the U.S. inflation report and renewed concern about borrowing costs and returns on artificial intelligence investment. Chipmakers matter disproportionately in Seoul because Samsung and SK hynix together account for nearly half the Kospi’s market value. The trading pause temporarily halted transactions; it did not reverse the losses. KOSPI plunges over 7% as chip rout triggers trading halts · Asian markets sell off after US inflation fuels rate hike bets

Justice Department demands California voter review

The Justice Department gave California 48 hours to review a list of people it believes may be noncitizens who received mail ballots, according to a letter disclosed Wednesday. The letter, dated Tuesday, threatened emergency litigation and sought separation or withholding of ballots where citizenship could not be confirmed. State and local officials questioned the evidence and said eligibility checks require examining records and contacting voters. Inclusion on an unverified list does not establish ineligibility. The dispute concerns eligibility checks while ballots are already being distributed. Justice Department threatens California with legal action over claim of noncitizens on voter rolls

Iran reports cargo ship sinking in Hormuz

Iran’s Revolutionary Guard navy said a cargo ship sank Wednesday after striking a mine in the Strait of Hormuz. A U.S. official told ABC News that Iran had attacked the vessel, likely with a missile. The report did not independently establish either explanation for the sinking. Separately, the United Kingdom Maritime Trade Operations service said it had recorded 20 reported attacks in the strait since October 1, including two incidents Wednesday. The waterway is a major route for commercial shipping and energy supplies, making disruption consequential beyond the vessels directly involved. Iran live updates: IRGC says ship sank after striking mine in Strait of Hormuz

Peshawar school roof collapse kills at least 35

At least 34 children and a teacher died when classroom roofs collapsed at a private school in Peshawar, Pakistan, Thursday, authorities and a hospital official told the Associated Press. More than 50 people were injured, some critically. Emergency services said everyone trapped had been recovered after nearly 100 rescuers joined the response. Lady Reading Hospital declared an emergency to treat the injured. Provincial authorities formed a committee to investigate the collapse. Police described the building as structurally weak, but the cause remained under investigation. School roof collapse in Pakistan kills at least 35 and injures more than 50

EU court adviser backs TikTok’s gatekeeper status

An adviser to the European Union’s highest court recommended Thursday that ByteDance’s challenge to TikTok’s gatekeeper designation be dismissed. That status places platforms under competition obligations in the Digital Markets Act. Advocate General Andrea Biondi said people’s use of other social networks does not, by itself, mean TikTok is unimportant for businesses reaching customers. His opinion is nonbinding: the judges will issue their ruling later. Thursday’s development leaves the existing designation in place. Setback for TikTok as EU court adviser backs gatekeeper label

Study separates warming and El Niño effects on Polo

A rapid attribution study released Thursday estimates that human-caused warming added about 6 mph to Hurricane Polo’s peak winds; El Niño also strengthened it. Polo hit Mexico in September, so the new finding concerns why it intensified. Researchers compared today’s climate with one without human-caused warming. They could estimate the influence on wind strength but could not quantify the warming contribution to rainfall because models failed to reproduce observed trends. The study has not yet been peer reviewed. Its findings concern storm intensity; damage also depends on where a hurricane lands and how prepared communities are. Effect of climate change at least as large as El Niño in strengthening Hurricane Polo · Study says global warming did more than El Niño to turbocharge Hurricane Polo

Australian regulator sues Kmart over product safety

Australia’s competition regulator is taking Kmart to court, alleging the retailer sold nail glue without adequate burn warnings and failed to meet button-battery requirements for watches and tracking tags. The regulator says about 64,000 watches were sold without required safety testing. Those testing obligations are separate from rules requiring warnings on packaging. Kmart said the historical matters had been addressed and maintained its nail-glue warnings were appropriate. The new development is legal action over earlier sales: the tracking tags were recalled in 2024. The allegations remain for the court to determine. ACCC takes Kmart to court for selling nail glue that caused burns

South Australia receives Australia’s first Michelin stars

Eleven South Australian restaurants received Australia’s first Michelin stars at a ceremony in Adelaide Wednesday evening. Magill Estate Restaurant earned two stars, while ten venues received one each, including restaurants in the Adelaide Hills, McLaren Vale and Barossa Valley. The debut could bring greater international attention to regional hospitality, but the guide’s coverage has a specific boundary: this selection assesses South Australia, rather than restaurants nationwide. The guide’s arrival follows an agreement with the state government to review local restaurants for five years. Ratings can change as later reviews add or remove establishments. Michelin Guide dishes out first stars in Australia to array of SA restaurants

Brewers move one win from the World Series

Milwaukee beat Los Angeles 6–2 Wednesday to move within one victory of the World Series. Jake Bauers and Garrett Mitchell hit consecutive home runs in the seventh inning after the Dodgers had taken a 2–1 lead; Jackson Chourio had homered on the game’s first pitch. The Brewers lead the best-of-seven National League Championship Series 3–0. Milwaukee last reached the World Series in 1982, when it belonged to the American League. Los Angeles, the two-time defending champion, now needs four straight wins. Game 4 is Thursday at Dodger Stadium. Brewers stun Dodgers with back-to-back homers in 7th inning and take 3-0 lead in NLCS with 6-2 win