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The Latest Breaking News from G7

Rising mortgage rates will cause ‘financial stress’, MPs hear, as two-year fixed rates hit 15-year high – as it happened

Treasury Committee quiz lenders about mortgage rates, as two-year fixed mortgage rate rises to 6.66%, highest since 2008

The Guardian - UK

Australia joins G7-backed 'climate club' and promises to drive down greenhouse gas emissions

Australia is joining the ’climate club’ backed by the Group of Seven major economies last year aimed at taking more ambitious action to tackle global warming, Prime Minister Anthony Albanese said Monday

The Independent UK

Russia oil discount to India shrinks to $4, delivery charges remain opaque

The steep discounts on Russia crude oil that India gorged on since the Ukraine war, have plunged but the shipping rates charged by Russia-arranged entities continues to remain ‘opaque’ and higher than normal

The Hindu

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Missions v priorities: how Starmer’s policy goals compare with Sunak’s

As the Labour leader completes his key pledges, we compare them with the prime minister’s – and assess how firm they are

The Guardian - UK

Keir Starmer to say class ceiling must shatter to let children get ahead

Labour leader will argue against snobbery of ‘vocational’ and ‘academic’ education, saying young people need both

The Guardian - UK

Why aren’t soaring interest rates bringing down inflation?

Rishi Sunak has blamed the high number of fixed-rate mortgages for his government’s failure to bring down inflation.

The Week

UK worst in G7 at curbing inflation, analysis finds

THE UK is the least successful country in the G7 at curbing inflation, new analysis has concluded.

The National (Scotland)

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Flexible okonomiyaki gains in popularity among visitors from abroad

Okonomiyaki, a savory pancake-like dish cooked on a griddle, is becoming increasingly popular among international visitors to Japan.

The Japan News/Yomiuri

Eurozone inflation falls to 5.5% in sharp contrast to UK

Economists put reason for divergence down to Brexit and Britain’s energy price guarantee

The Guardian - UK

Private sector backed initiative set to charge UK exports with one stop shop

The launch follows research that found that if UK exports had rebounded as strongly as Germany’s following the pandemic, it would be exporting $111bn more than is it now

Wales Online

Zac Goldmith's resignation letter IN FULL as he rips into 'uninterested' Rishi Sunak

The Tory peer said the Prime Minister's 'apathy' towards environmental and animal welfare issues meant his role as a government minister has become 'untenable' in a blistering letter

Daily Mirror

Read Zac Goldsmith’s resignation letter in full as former minister attacks Tory election hopes

The former environment minister has quit the day after being criticised in a Partygate report

The Independent UK

Watchdog rejects Johnson’s suggestion Sue Gray’s Labour job meant she was not impartial investigating Partygate – as it happened

Advisory committee on business appointments says it has seen ‘no evidence’ that Gray’s decision-making was affected despite ex-PM’s claim

The Guardian - UK

Hipkins meets Xi Jinping: behind the handshakes, NZ walks an increasingly fine line with China

Chris Hipkins anticipated a “diplomatic” meeting with Xi Jinping. The Chinese leader said he placed “great importance” on the relationship with New Zealand. Both businesslike, Hipkins made sure to stress his country was open for business too.

The Conversation

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Dynamite News

Wagner rebellion: It's a new thing to see Putin's leadership directly challenged, says US

Following the Wagner rebellion, the US said that it's a new thing to see Russian President Vladimir Putin's leadership getting directly challenged. Read further on Dynamite News:

The Japan News/Yomiuri

Japan alone dispatches male minister to G7 gender-equality meeting

NIKKO, Tochigi -- Japan was the only Group of Seven country to dispatch a male minister to the recently held G7 Ministerial Meeting on Gender Equality and Women's Empowerment.

The Guardian - UK

Wagner mutiny: how the world reacted

Ukraine said Yevgeny Prigozhin’s uprising reflected Russia’s ‘full-scale weakness’ as western allies watched closely

Al Jazeera

Turmoil in Russia: What foreign governments are saying

Countries are keeping a close eye on the situation in Russia as Wagner rebellion escalates instability in region.

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Bangkok Post

De-escalating tensions between US and China

Tensions between the US and China have reached such a high level that the G7, led by the US, recently changed its objective in its relations with China from "decoupling" to "de-risking". But the reality is that de-risking, like decoupling, requires the participation of both sides and a common agenda.

The Guardian - UK

Ukraine lacks capacity to process huge sums in aid, official admits

Largest amount of money Kyiv previously worked with was $6bn a year in 2014, Mustafa Nayyem says

The Independent UK

Sunak to pledge £2.35 billion in loan guarantees at Ukraine Recovery Conference

The Prime Minister will tell the London summit that Britain will stand with Ukraine ‘as long as it takes’.

The Guardian - UK

Tory MPs split on whether to intervene to help mortgage holders

Figures released on Wednesday expected to confirm UK stuck with highest inflation rate in G7

The Guardian - UK

West needs strategy to tie Ukraine aid to corruption progress, thinktank says

German Marshall Fund says oligarchs biding their time until after war ends to reassert their influence

The Guardian - UK

UK economy in growth ‘doom loop’ after decades of underinvestment

Institute for Public Policy Research points to £500bn-plus underspend compared with other advanced economies

France 24

New Chinese premier’s visit to Germany, France highlights strained relations with EU

China’s new Premier Li Qiang is currently on a visit to Germany, his first trip abroad since taking office in March. With France lined up as the next stop on his agenda, Li’s Western European excursion is the subject of much speculation amid strained relations between China and the EU.

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