English Listening Practice — August 24, 2026

📰 Treasury Secretary Scott Bessent to unveil new economic sanctions on Iran

Treasury Secretary Scott Bessent is slated to unveil an aggressive new slate of economic sanctions against Iran on Monday.

Bessent characterized the upcoming rollout as the single greatest financial offensive ever launched.

Concurrently, President Trump framed the coordinated pressure campaign as an economic D-Day.

Trump also pledged to penalize foreign nations that continue to extend an economic lifeline to Tehran.

In anticipation of the formal announcement, the Iranian rial has already plunged to an unprecedented record low.

🏛️ Zambia closes courts on last day to file election challenge

Zambian authorities abruptly shuttered the nation’s apex courts on Monday.

The move blocked access on the final day for the opposition to contest the August 13 election results.

Opposition leader Brian Mundubile had planned to lodge a formal petition challenging President Hakainde Hichilema’s victory.

Under the law, the strict seven-day filing deadline expired early Tuesday.

Judicial officials cited unspecified security concerns for the sudden closure.

Meanwhile, police secured the locked premises while conducting ongoing assessments.

⚔️ South Korea says US cancelled upcoming joint marine exercises over Iran war

The United States has called off a major joint amphibious landing exercise with South Korea scheduled for next month.

South Korean Marine Corps spokesman Han Seung-jeon confirmed the cancellation during a press briefing on Monday.

The US military formally cited troop availability constraints stemming from the conflict with Iran.

Known as the biennial Ssangyong exercise, the operation typically strengthens combined naval, air, and ground readiness.

Seoul and Washington are currently maintaining bilateral consultations on eventually resuming the suspended drills.

🛒 Fast-fashion giant Shein sets cut-price $27bn valuation for Hong Kong IPO

Fast-fashion titan Shein has set a cut-price valuation of roughly $27 billion for its Hong Kong initial public offering.

The online retailer will make its market debut on September 1.

This target marks a steep markdown from the company's private-market peak of nearly $100 billion in 2022.

The diminished valuation follows a sharp downturn, after Shein swung to a $99 million first-quarter loss.

The firm also faces persistent scrutiny regarding its environmental footprint.

📰 UPS is investing $2 billion in international, healthcare and supply chain businesses

UPS is channeling more than $2 billion into its international, healthcare, and supply chain operations through 2028.

The multi-year capital outlay aims to fortify global networks against macroeconomic headwinds and supply chain friction.

Major infrastructure projects include dedicated hubs across the Philippines, Ontario, and Hong Kong International Airport.

The rollout also features an automated facility in Taiwan and an integrated cold-chain center in Amsterdam.

Strategy vice president Scott Szwast noted that these capabilities empower clients in complex industries to streamline global logistics.

📰 Iran’s rial falls to record low as Scott Bessent warns of ‘economic D-day’ – business live

Iran’s rial has plummeted to an unprecedented low against the dollar on the unregulated market.

According to tracking data, the battered currency slid 4.5 percent, trading at 1.992 million per dollar.

This sharp depreciation comes ahead of imminent action from US Treasury Secretary Scott Bessent.

Bessent is scheduled to unveil a fresh tranche of sanctions against Tehran at a press conference today.

The impending measures reflect ongoing US efforts to isolate Iran and choke off its remaining international trade.

🇨🇳 Due to need for "absolute success," China delays critical Moon launch to 2027

China has postponed its Chang’e 7 lunar mission to 2027.

Officials cited the imperative for "absolute success" as the core reason for the delay.

A Long March 5 rocket was slated to lift off from the Wenchang Space Launch Site as early as Sunday.

The ambitious payload features an orbiter, lander, rover, and a mini-hopper probe destined for the Moon’s South Pole.

However, a comprehensive assessment determined that launch conditions were unfavorable.

While authorities provided no official explanation, Typhoon Narra continues to generate inclement weather near the coastal spaceport.

📰 A hidden “on switch” in human DNA has finally been decoded

Researchers at UC San Diego have decoded a vital genetic “on switch” known as the initiator.

Led by Torrey Rhyne-Carrigg and Professor James T.

Kadonaga, the team evaluated gene expression across roughly 500,000 initiator variants.

They used high-throughput sequencing data to train a machine learning model.

This system successfully pinpointed the initiator’s signature DNA pattern.

Armed with this model, the scientists screened the human genome.

They discovered that approximately 60 percent of human genes harbor this sequence.

This breakthrough sheds new light on the mechanisms governing precise gene activation.

⚖️ Hook, hold, harvest and hide: Meta’s alleged strategy laid out in first week of landmark trial

California and 28 other US states have taken Meta to trial in Oakland, California.

Prosecutors accuse the $1.36 trillion tech titan of engineering addictive platforms and violating children’s privacy laws.

Opening the case, state attorney Megan O’Neill distilled Meta’s core strategy into four verbs: hook, hold, harvest, and hide.

She argued the company systematically ensnares young users, maximizes screen time, extracts their data, and conceals the fallout.

An eight-member jury is currently weighing the evidence alongside testimony from former company employees and a psychologist.

⚽ Uefa chief Ceferin rules out Fifa presidency bid

UEFA president Aleksander Ceferin has officially ruled himself out of contention for the FIFA presidency.

The 57-year-old was widely tipped to challenge incumbent Gianni Infantino at the upcoming March 2027 Congress.

However, Ceferin confirmed he has no intention of throwing his hat into the ring.

He cited his commitment to UEFA, personal well-being, and a desire to preserve his institutional credibility.

Even so, Ceferin stated that he still expects an alternative challenger to emerge and contest Infantino’s leadership.

🎵 Dutch broadcaster Avrotros pulls out of 2027 Eurovision Song Contest

Dutch public broadcaster Avrotros has officially withdrawn from the 2027 Eurovision Song Contest in Burgas, Bulgaria.

The network cited a lack of clarity from the European Broadcasting Union regarding participant eligibility criteria.

It also highlighted severe humanitarian suffering in Gaza and mounting restrictions on press freedom.

Recent EBU policy adjustments failed to reassure the broadcaster that the event's neutral character has been restored.

Nevertheless, this decision does not preclude Dutch participation, as another domestic broadcaster could step in to field an entrant.

🏅 Washington, D.C.'s first IndyCar race packed the National Mall

Washington, D.C., hosted its inaugural IndyCar street race over the weekend, debuting the Freedom 250 Grand Prix.

Tens of thousands of spectators converged on the National Mall each day of the marquee two-day event.

The temporary course repurposed landmark thoroughfares, transforming Pennsylvania, Constitution, and Independence avenues into a high-speed circuit.

Florida native Kyle Kirkwood secured a commanding victory on the podium.

Kirkwood thoroughly dominated the competition, leading 128 of the 147 laps to clinch the win.