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The Latest Breaking News from G7

Inflation: there's a vital way to reduce it that everyone overlooks – raise productivity

Inflation has become one of the great issues of our times. The UK’s is the highest in the G7, weighing in at 9% a year according to the most recent figures on consumer price inflation.

The Conversation

G7 calls on OPEC to play key role to ease global energy supplies

Ministers from the Group of Seven countries on Friday called on OPEC to act responsibly to ease a global energy crunch brought on by the Russian invasion of Ukraine, even as they announced a breakthrough commitment to phase out coal-fuelled power.

Reuters

G7 set to end support for overseas unabated fossil fuels

The Group of Seven (G7) developed countries are poised to stop providing new public support for overseas fossil fuel projects by the end of 2022 if they have no sufficient measures to reduce greenhouse emissions, a Japanese government official said Friday.

Bangkok Post

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Two Russian soldiers plead guilty in new war crimes trial as Russia calls supplying Ukraine arms 'unacceptable escalation'

As Russians warn supplying arms to Ukraine could lead to an "unacceptable escalation", two captured Russian soldiers plead guilty to shelling a town in eastern Ukraine.

ABC News

West mulls having Russian oligarchs buy way out of sanctions

Government officials familiar with the matter say Western allies are considering whether to allow Russian oligarchs buy their way out of western sanctions and using the money to rebuild Ukraine

The Independent UK

Germany: G-7 nations can lead the way on ending coal use

Germany’s energy and climate minister says the Group of Seven wealthy nations can lead the way on ending the use of coal

The Independent UK

Russia shells Kharkiv, war in Donbas reaches ‘maximum intensity’

Russian forces shelled Kharkiv, killing nine people on Thursday after Moscow’s bid to capture Ukraine’s second city was repelled early in the war. Further south, fighting in the Donbas region reached of “maximum intensity”, according to a senior Ukrainian defence official. Read about the day’s events as they unfolded on…

France 24

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G7 can spearhead climate fight by agreeing to phase out coal, Germany says

The Group of Seven countries can spearhead the fight against climate change and accelerate a pivot away from fossil fuels by agreeing to phase out coal power generation, Germany's economy minister Robert Habeck said on Thursday.

Reuters

Industry groups want G7 countries to align climate ambitions -BDI

The Group of Seven (G7) economic powers should align international climate protection ambitions along the lines of a "climate club" proposed by German Chancellor Olaf Scholz, the head of the Business 7 (B7) group of industry lobbies said on Wednesday.

Reuters

Russia-Ukraine war: List of key events, day 87

As the Russia-Ukraine war enters its 87th day, we take a look at the main developments.

Al Jazeera

Once Carrie was forever in the public eye. Well done her if she’s tiring of consort role

There’s a long history of wives making PMs look ‘human’. Best to let thrive, or not, alone

The Guardian - UK

Even Tories now admit Brexit is making cost-of-living crisis worse, say SNP

BREXIT is making the cost-of-living crisis “worse” and is contributing to the soaring bills and rising inflation hitting Scottish families, a…

The National (Scotland)

Scott Morrison softened his defiant language on climate change action amid UK trade deal

Documents indicate PM’s changes to foreign policy speech coincided with environment agreement in trade talks

The Guardian - AU

Russia-Ukraine war: what we know on day 87 of the invasion

Last group of Ukrainian soldiers in Azovstal steelworks surrendered, Russia’s defence ministry said late Friday

The Guardian - AU

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The Independent UK

Yellen's global tax plan meets resistance abroad and at home

Last July, Treasury Secretary Janet Yellen celebrated it as a “historic day” when more than 100 nations agreed to a global minimum tax deal meant to reform and equalize the world’s economy

Asharq Al-Awsat

G7 Countries to Provide $19.8 Billion in Aid to Ukraine

The Group of Seven leading economies agreed Friday to provide $19.8 billion in economic aid to Ukraine to help keep tight finances from hindering its ability to defend itself from Russia’s invasion. German Finance Minister Christian Lindner told reporters that $9.5 billion of the total amount was mobilized at meetings…

Reuters

Japan, Europe tread different paths as G7 warns of inflation risks

Having long trod a similar path in tackling low inflation, Japan and Europe now appear to be taking contrasting approaches to monetary policy and the risks of rising prices, which drew warnings at this week's Group of Seven gathering in Germany.

Reuters

Italy to lend Ukraine 200 million euros, Finance Minister says

Italy will lend Ukraine 200 million euros ($211 mln) to help it pay its bills, Italy's finance minister Daniele Franco said on Friday after a meeting of G7 financial leaders.

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Liverpool Echo

Monkeypox cases in UK more than double

Health Secretary Sajid Javid has tweeted about the situation

Reuters

G7 mulling Russian asset seizures to help rebuild Ukraine - German Finance Minister

Seizing Russian state assets to help finance the rebuilding of war-torn Ukraine remains a possibility, German Finance Minister Christian Lindner said on Friday, but he added that no decision on the matter was taken at a meeting with his G7 counterparts.

The Independent UK

G7 agree pact to better prepare for future pandemics

The Group of Seven wealthy democracies has announced plans to strengthen epidemiological early-warning systems to detect infectious diseases with pandemic potential

Wales Online

UK monkeypox cases double with 11 new infections confirmed

Health Secretary says more doses of vaccine are available

The Independent UK

Monkeypox: 20 cases now confirmed in the UK

Sajid Javid has updated G7 health ministers on what is known about the spread of the virus.

Reuters

G7 offers $9.5 billion new aid for Ukraine, ready with more

The Group of Seven's financial leaders agreed on $9.5 billion in new aid to Ukraine on Friday and promised enough money to keep the country's devastated economy afloat as long as it fights against Russia's invasion.

France 24

Sri Lanka defaults on debt as economic crisis deepens

Sri Lanka has defaulted on its international debt obligations, after the government confirmed it had not been able to make some $87 million in interest payments. It further deepens the country's economic crisis, which has sparked mass protests and left the country struggling with fuel shortages. Also in the show:…

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