Japan's July Imports Hit Record High on Energy Costs, Weak Yen

Japan's imports surged to a record high in July, driven by soaring energy costs and a weaker yen, pushing the country's trade deficit to 634.5 billion yen ($4 billion) and marking the third consecutive month of red ink. The Ministry of Finance data released Thursday showed total imports jumped 27.8% year-on-year to 12.