• The Yonhap news agency reports that South Korea has deployed precision-guided missiles capable of hitting the North Korean capital, Pyongyang. (Yonhap News)

• Reuters quotes commodities traders who have observed in recent months that "violent, often inexplicable price moves" are becoming a good deal more common, especially in energy commodities such as natural gas. (Reuters)

• More than 16,000 people remain isolated and 3,350 are waiting to return to their homes due to continued flooding on the Mid North Coast of the Australian state of New South Wales. (Sydney Morning Herald)

• The U.N. Human Rights Council issues its first condemnation of discrimination against gays, lesbians and transgender people. (AP via Forbes)

• An internal Chinese government report, mistakenly made public, shows that more than ten thousand corrupt officials transferred US$123 billion worth of embezzled funds out of the country over 15 years. (The Times via The Australian) (The New York Times) (Wall Street Journal)

• The Government of Japan says it will double sales tax over four years to fund rising social security costs. (Reuters)
• Danny Alexander, the Chief Secretary to the Treasury of the United Kingdom, announces that the retirement age for British civil servants will be increased to 66, with the exception of the police, armed forces and fire service. (Sky News)
• King of Morocco Mohammed VI announces constitutional reforms with a referendum to be held on July 1. (Al-Jazeera)

• The head coach of the South Korean marathon team is under investigation for alleged doping of his athletes, including an Asian Games gold medallist. (Yonhap)