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US inflation eases to 3% leaving the Fed likely to raise interest rates this month.

And NATO closes its summit without a clear membership path for Ukraine.

Plus, our investigation into what Telecom companies knew about toxic lead-sheet cables.

So what we're talking about is sort of generations of phone companies that have had these lead cables in their ownership.

And over the course of time, technology has changed and improved and those cables have been abandoned.

It's Wednesday, July 12th. I'm Amary for Toly for the Wall Street Journal.

This is the PM edition of What's News, the top headlines and business stories that moved the world today.

Stocks, Rose and Bond yields fill after inflation data for June came in cooler than Wall Street expected.

The Labor Department said the Consumer Price Index rose 3% its slowest annual pace in more than two years.

That's sharply lower than the recent peak inflation rate of 9.1% in June of 2022.

You may remember that's when US gas prices hit a record average of $5 a gallon.

Though we've come a long way since then, the latest data is likely to keep the Federal Reserve on track to raise interest rates later this month after pausing in June.

The current inflation rate is still above the Fed's target of 2%.

US regulators are taking another shot at rewriting the rules for money market funds.

The Security's and Exchange Commission has voted to adopt tougher rules, including one that requires certain money market funds used by institutional investors to impose fees when a fund sees daily net redemptions that exceed 5% of net assets.

This is the SEC's third time at rewriting the rules for money market funds in 15 years.

The aim is to prevent bailouts in times of trouble, as investors pour money into these funds.

Money market funds collective holdings balloon to record levels of nearly $5.5 trillion this year.

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