U.S. consumer inflation slowed slightly to 3.4 percent in July despite turbulent oil prices due to the Iran war, government data showed, with the data likely giving the Federal Reserve room to breathe on interest rates.

The consumer price index (CPI) rose 0.1 percent from a month earlier, but fell on a year-on-year basis, according to data released by the U.S. Bureau of Labor Statistics. The data was in line with analyst expectations.

Russian President Vladimir Putin on Wednesday threatened retaliation for Western seizures of its commercial vessels, describing them as "piracy."

Speaking on a visit to a Russian warship that was taking part in a naval exercise in the Pacific, Putin described the Western moves to detain vessels linked to Russia as a breach of international maritime law.

Wall Street is modestly lower in premarket trading and oil prices settled despite lingering uncertainty about when the Strait of Hormuz will reopen to the global flow of oil again.

Futures for the S&P 500 ticked up 0.1% before the opening bell Tuesday, while futures for the Dow Jones Industrial Average nudged down 0.1%. Nasdaq futures rose 0.3%.

President Donald Trump likes to say that he started his war with Iran after 50 years of economic pressure had failed to stop its nuclear weapons ambitions — but he's now betting that another financial squeeze can bring an end to that war.

The Trump administration is hoping that months of bombing have pushed Iran's economy to a breaking point that will force its leadership to cave to demands to end its nuclear program and fully reopen the Strait of Hormuz to oil and natural gas tankers.

Encouraging customers to mend worn clothes instead of buying new ones might seem like a self-defeating sales strategy. But in-store repairs and sewing workshops are becoming essential retail services for clothing brands as they try to appeal to young consumers who want to save money and the planet.

While luxury fashion houses and select specialty retailers like Patagonia and L.L. Bean have offered product repairs for decades, the concept has caught on. Jeans giant Levi Strauss & Co., casual wear chain Uniqlo and budget retailer Primark are a few of the apparel companies hoping to win over Generation Z shoppers with a needle and thread.

Lebanon on Monday filed a lawsuit against former central bank governor Riad Salameh over accusations including embezzlement and illegal enrichment following a complaint lodged by his successor, a judicial official told AFP.

World shares were mixed Friday after a modest retreat on Wall Street, while the price of Brent crude gained more than 1%.

In early European trading, Germany's DAX rose 0.4% to 26,253.77, while the CAC 40 in Paris edged 0.2% higher to 8,715.47.

Canadian Prime Minister Mark Carney said Thursday that trade negotiations with the United States had turned "nasty" after President Donald Trump derided America's neighbor and its leadership while threatening to expand tariffs.

Carney said Canada remained engaged in the negotiations despite Trump's comments, describing the talks as a fight to protect Canadian workers and businesses.

France next week will ban unsolicited telemarketing calls under a new law aimed at protecting consumers from intrusive sales pitches and shielding vulnerable people from fraudulent commercial practices.

The law backed by President Emmanuel Macron's government enters into force on Aug. 11.

U.S. stock futures edged higher Wednesday morning, helped by strong corporate earnings reports and hopes for a deal setting the stage for talks that might eventually end the fighting in Iran.

Dow Jones Industrial Average futures rose 0.3%, while S&P 500 futures added 0.4%. Nasdaq futures gained 0.2%.