Japan has implemented a five-fold increase to visa fees for all foreigners, marking the first price hike in nearly 50 years.

From 1 July, single-entry visa fees will be raised from the current 3,000 yen ($18.69; £14) to 15,000 yen, while multi-entry visas will now cost 30,000 yen, up from 6,000 yen.

The visa fee revisions – the first since 1978 – were made to “reflect inflation and exchange rate fluctuations”, said Foreign Minister Toshimitsu Motegi.

“We do not anticipate that it will have an immediate impact on inbound tourism,” he added.

The Japanese yen has been weakening continually since 2021, and is now hovering near historic 40-year lows.

Former US Federal Reserve chair Alan Greenspan has died aged 100, his wife has said.

NBC News correspondent Andrea Mitchell said in a statement reported by her employer that her husband had died from complications of Parkinson’s Disease.

Mitchell’s statement said Greenspan was “a giant of a man who helped shape the US economy for decades under presidents of both parties, but was always honest in acknowledging his mistakes”.

For nearly 20 years, Alan Greenspan was charged with safeguarding the US economy and keeping the dollar sound.

As chairman of the Federal Reserve from 1987-2006, a post described as the second most important after the presidency, he presided over the longest sustained period of US economic growth in a generation.

Described as the “God in the machine” of American finance, Greenspan declined all requests for interviews during his time at the Fed.

The media and the money markets hung on his few public statements, and a sign in his office said simply, “the buck starts here”.

Andy Burnham is sworn in as the MP for Makerfield hours after Keir Starmer announces his resignation as Labour Party leader.

BBC reported that Burnham earlier said he would stand to replace the prime minister, with backing from former Health Secretary Wes Streeting.

Streeting – who quit Starmer’s government last month – previously said he would contest any leadership race.

After being sworn in, Burnham was met with whoops and cheers as he had his picture taken with around 200 Labour MPs.

If there was any doubt the leadership election is over before it began, Burnham’s reception in Westminster Hall ought to expunge it, writes Henry Zeffman.

Speaking outside No 10 earlier, Starmer thanked his wife in an emotional speech and said he wanted to be the “best dad I can to my beautiful children”

Starmer says he’ll remain as PM until his successor is chosen, which will happen by the time “Parliament returns in September” – or sooner if Labour gets behind one candidate and there’s no contest.