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The Latest Breaking News from G7

G7 mulls tapping frozen Russian funds for €30bn loan to Ukraine

Finance ministers from the Group of Seven major democracies meeting in Italy this week are set to discuss a European Union plan to use the income from frozen Russian assets to help Ukraine's war effort.

Radio France Internationale

G7 leaders to discuss €30bn loan for Ukraine using Russian assets

Finance ministers will debate legality of using €270bn in frozen state assets as collateral for loan

The Guardian - UK

NVDA Earnings, Fed Speakers and Other Key Things to Watch This Week

There was some wild volatility last week as PPI came in hotter than expected and CPI came in just under expectations on the monthly basis. This small decrease in the inflation rate was enough for Fed heads to start talking about rate cuts again the next day.

Barchart

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How accurate are Jeremy Hunt’s claims about the UK economy?

Chancellor seems to cherrypick data as he tries to outline how the Tories have got the country back on its feet

The Guardian - UK

Swiss Foreign Secretary to hold talks in Delhi over Ukraine peace meet

India non-committal on PM Modi’s attendance Summit on Peace in Ukraine in June, to follow G-7 meet

The Hindu

Dow Jones Industrial Average hits 40,000 points for first time; UK reality TV stars charged over FX scheme – as it happened

Strong quarterly results and hope of interest rate cuts drive DJIA to new alltime high

The Guardian - UK

Biden campaign accuses Trump of ‘playing games with debates’ – as it happened

Team Biden comments after Trump says he accepted three debates while president has agreed to do two

The Guardian - US

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US To Use Seized Russian Assets For Ukraine Reconstruction

Secretary of State Blinken reaffirms US plan to use seized Russian assets for Ukraine's reconstruction, sending a strong message to Putin.

Top News

American Detained In Russia Expresses Optimism Amid Complications

American citizen Paul Whelan expresses optimism about US efforts for his release from Russia despite concerns over recent arrest of US soldier.

Top News

OPINION - Rishi Sunak's 'comeback narrative' collides with economic reality

"Was in the slow lane. Still in the slow lane. Will remain in the slow lane." The laconic words of Jonathan Prynn, the Standard's business editor, summarising (off the record but oh well) today's report by the Organisation for Economic Co-operation and Development (OECD), which forecasts that the UK will be…

Evening Standard

OECD forecasts will be blow to Sunak’s claims UK economy is improving

UK’s growth will be least in G7 by 2025, OECD expects, as low business investment and multiple pressures bear down

The Guardian - UK

More Than 160 Delegations Invited To Ukraine Peace Talks

Switzerland has invited more than 160 delegations to next month's Ukraine peace conference, the foreign ministry said Thursday, though Russia is not among them "at this stage".

International Business Times

Jeremy Hunt suffers blow as leading economists cut growth forecast for Britain in general election year

The OECD also predicted the UK would see the weakest growth across the G7 group of major economies next year

Evening Standard

G7 Commits To Phasing Out Coal Power By 2035

G7 ministers commit to phasing out coal power by 2035 to combat climate change, aligning with global efforts.

Top News

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The Guardian - AU

Ukraine war briefing: Kharkiv residents suffer as Russia intensifies attacks

Ukraine’s second-largest city has suffered ‘extensive damage’ to civilian infrastructure and a sharp increase in casualties; woman, 98, walks out of besieged city on her own. What we know on day 798

The Guardian - UK

G7 agree to end use of unabated coal power plants by 2035

Agreement gives leeway to countries heavily reliant on coal and allows power plants fitted with carbon-capture technology

International Business Times

G7 To Phase Out Coal-fired Power Plants By Mid-2030s

G7 ministers agreed a timeframe Tuesday for phasing out coal-fired power plants, setting as a goal the mid-2030s, in a move hailed as significant by some environmentalists but slammed as "too late" by others.

The Guardian - UK

Taxing big fossil fuel firms ‘could raise $900bn in climate finance by 2030’

Levy on oil and gas majors in richest countries would help worst-affected nations tackle climate crisis, says report

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Pope Francis To Address G7 On Ethical AI Development

Pope Francis to attend G7 Summit to discuss ethical guidelines for AI development, emphasizing global importance.

Top News

EU Raids Chinese Firm Over Suspected Subsidies

EU inspects Nuctech for potential state subsidies, amid rising concerns over market distortion by foreign subsidies.

Top News

US Proposal Gaining Ground For Frozen Russian Asset Revenues

G7 mulls using frozen Russian assets to aid Ukraine, signaling unity and consequences to Russia.

Top News

Secretary Blinken To Address China's Support For Russia

Secretary of State Blinken to address China's support for Russia and discuss key issues during upcoming visit.

The Guardian - UK

Most difficult global outlook since 1930s heralds end of US-led world order

IMF has revised up growth forecasts but medium-term prospects remain poor as globalisation goes into reverse

The Guardian - UK

Gaza death toll passes 34,000 as Israel and Iran missile strikes grab global attention

Grim milestone comes as G7 leaders urge Netanyahu not to press ahead with Rafah invasion

The Guardian - AU

Middle East crisis – as it happened: US denies carrying out airstrikes in Iraq after explosion at military base

‘The United States has not conducted air strikes in Iraq today,’ the US military’s Central Command said

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