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The Latest Breaking News from G7

Newsletter: Money talks, but first listen to Lagarde

In today's newsletter: An exclusive interview with EBC President Christine Lagarde, the Spanish proposal of €850 billion of EU common borrowing, and ambassadors race to the 21st sanctions package against Russia finish line.

Euronews

US-Iran ceasefire had a built-in detonator. This week it went off

The breakdown of the ceasefire between the US and Iran was perhaps the least surprising news this week. The 14-point plan – AKA the memorandum of understanding (MoU) – signed by Donald Trump in Versailles at the end of the G7 summit on June 17 and by the Iranian president,…

The Conversation

EU countries rush to avoid disastrous revision of Russian oil price cap

If ambassadors fail to agree on the sanctions by 15 July, the price cap on Russian oil will be automatically revised, going all the way up to $58 per barrel, a scenario that Brussels considers unpalatable.

Euronews

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Are data centres uncool? Questions over AI's ecological trade-off are growing louder but solutions may be emerging

AI's environmental strain from data centers and resource exploitation is causing growing public concern. Communities face water shortages and e-waste issues while AI promises resource management improvements. AI can enhance grid efficiency and climate modeling, offering local benefits. However, equitable distribution of AI's economic gains remains a significant global challenge.…

The Economic Times

A World Bank for defence? The lender that Europe's big powers have yet to join

Nine countries have thrown their weight behind a new multilateral bank designed to bankroll Western rearmament, but the notable caution of Europe's largest military and economic powers raises the question of whether it can become the answer to defence funding.

Euronews

UK inflation to fall faster than predicted as impact of Iran war ‘better than feared’

UK inflation projections have been tempered by the interim US-Iran peace deal, which helped to ease oil prices

The Independent UK

IMF upgrades UK growth forecast as fears over impact of Iran war diminish

July update projects GDP growth of 1% this year, making UK the third fastest-growing economy in the G7

The Guardian - UK

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Donald Trump calls Italy's Meloni a 'nice person' but blames her for not helping with Iran

President Trump called Italian Prime Minister Meloni a nice person but criticised her involvement in the Iran conflict. He stated their relationship soured after she refused to help with Iran's issues. Meloni previously denied Trump's claim about begging for a photo at a G7 summit. Italy decided to stop responding…

The Economic Times

'She's the queen, leave her alone': Belgian defence minister backs Italian PM Meloni over Trump's restraining order joke

Belgian defence minister Theo Francken has urged European leaders to maintain strong ties with US President Donald Trump, saying Europe will continue to rely on American military protection for another five to 10 years, while warning the US leader against targeting Italian Prime Minister Giorgia Meloni. His remarks come after…

The Times of India

‘Restraining order needed’: Trump shares doctored Meloni meme to reignite feud

On the eve of a key NATO summit, US Presient Donald Trump reignited his feud with Italy's Prime Minister Giorgia Meloni by sharing a doctored image on Truth Social, captioned “RESTRAINING ORDER NEEDED.” The altered image is based on genuine G7 footage but changes Meloni's facial expression to make her…

France 24

Trump won big spending promises from NATO last year. This week in Turkey, he'll try to enforce them

President Trump heads to Turkey to press NATO allies on defense spending pledges. He expects immediate action on the 5% GDP target, a key focus after last year's summit. Despite ongoing disputes, Trump seeks to solidify his influence on the alliance's future, while also planning meetings on Ukraine and Syria.…

The Economic Times

Mobile internet coverage in UK worse than any EU or G7 country, Which? says

Analysis finds services cheaper but country ranks 57th in network performance and 70th for download speeds

The Guardian - UK

Ukraine takes the war to Moscow: Why Kyiv unleashed its biggest attacks after G7 summit

Ukraine has launched its most extensive long-range drone campaign, targeting Russian oil refineries, fuel depots, and military infrastructure deep within its territory. This escalation follows G7 commitments to bolster Ukraine's air defenses and economic resilience. The strikes aim to disrupt Russia's war financing and logistics, with President Putin acknowledging temporary…

The Times of India

Why Meloni has hit back hard against Trump and his ‘made up’ photo claim

The Guardian - UK

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The Independent UK

Starmer offers cut in tuition for EU students as part of reset talks

A deal could see EU students have their fees cut from £38,000 to £9,535, in line with UK undergraduates

Euronews

Japanese yen sinks to 40-year low against the US dollar as intervention looms

The Japanese yen has dropped to its lowest level against the US dollar in four decades, putting markets on alert for urgent action by Tokyo to halt a slide that record intervention and higher interest rates have so far failed to stop.

The Guardian - UK

UK government ‘minded to intervene’ in Paramount’s takeover of Warner Bros Discovery – as it happened

Lisa Nandy, Secretary of State for Culture, cites need for sufficient plurality of views in news media

Radio France Internationale

Macron hosts Oman sultan for talks on toll-free reopening of Strait of Hormuz

French President Emmanuel Macron hosts Oman's Sultan Haitham bin Tariq on Monday for the Gulf leader's first official visit to France, with talks expected to focus on securing the toll-free reopening of the Strait of Hormuz.

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The Conversation

Cracks in European unity emerge over Ukraine and security

When Donald Trump signed the memorandum of understanding (MoU) in Versailles on June 17 after the G7 summit, it dominated the headlines around the world. This is no more than you’d expect. The 60-day ceasefire, which – despite a few wobbles – appears to be largely holding in both Iran…

Euronews

UK foreign policy to remain unchanged despite government transition, deputy PM Lammy says

The UK's deputy Prime Minister David Lammy has told Europe Today that his country's foreign policy — including its support for Ukraine and efforts to restore EU ties — will remain unchanged when a new Prime Minister takes the reins after Keir Starmer's exit.

International Business Times UK

Donald Trump Heartbreak: Giorgia Meloni Humiliates POTUS Online as Ex-Official Warns the World is Turning Its Back on Him

Donald Trump's claim that Italian PM Giorgia Meloni 'begged' for a G7 photo sparked a public rebuke, raising concerns about his growing isolation on the global stage.

The Conversation

If Europe wants to ‘go it alone’ on security, countries need to learn to sing from the same songsheet

The G7 summit at Evian from June 15 to 17 is most revealing not for what was agreed, but for what was exposed about the state of play among Europeans, and their relationship with the US. For all the choreography and displays of unity, the summit was, in large part,…

The Independent UK

Zelenskyy says Russia is shifting air defenses to Moscow and other key sites after drone strikes

Ukraine’s President Volodymyr Zelenskyy says Russia is moving air defenses to protect key targets like Moscow as Ukrainian drones hit deep inside the country

France 24

Macron hosts Meloni for Riviera talks after Italian leader's fallout with Trump

French President Emmanuel Macron aimed to build on a nascent rapprochement with Italy's Giorgia Meloni as they met for a bilateral summit on the French Riviera on Thursday. Originally an ally of Donald Trump, Meloni has recently distanced herself from the US leader over what she called his "constant, unprovoked…

Radio France Internationale

Macron to host Meloni in Antibes as France and Italy seek closer ties

French President Emmanuel Macron will host Italian Prime Minister Giorgia Meloni in the French seaside resort of Antibes, as the two leaders try to revive a relationship that has been marked by political differences.

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