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The Latest Breaking News from G7

China signals Xi Jinping will not attend G20 summit in India

Analysts say absence could be snub to Delhi or part of apparent push by Beijing to elevate blocs not regarded as US-dominated

The Guardian - UK

What went wrong with the German economy?

Europe’s largest economy is engulfed by gloom following forecasts that it will suffer the G7’s only contraction this year.

The Week

UK’s growth is a silver lining – and the clouds suggest recession looms

The chancellor says the economy is resilient but forward-looking indicators suggest otherwise

The Guardian - UK

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G-20 Sherpas to sit for final round of pre-summit negotiations

The Sherpas and Sous Sherpas, who are the chief negotiators for the G-20 leaders, will meet from September 3 to 6.

The Hindu

Britain no longer an economic outlier after ‘extraordinary’ GDP upgrade by ONS

Jeremy Hunt said ‘those determined to talk down the British economy have been proved wrong’

The Independent UK

Jokowi is right not to join 'BRICS' for now – but the alliance is still important for Indonesia

Indonesian President Joko “Jokowi” Widodo travelled to Johannesburg, South Africa, on August 24 to attend the 15th BRICS summit, an informal grouping of five major emerging nations: Brazil, Russia, India, China and South Africa.

The Conversation

In ditching a wealth tax, Labour is rejecting growth and embracing bad economics

Rachel Reeves has tied her party’s hands and placed it on the wrong side of the argument, says Josh Ryan-Collins, an associate professor at UCL

The Guardian - UK

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In a multipolar world the dollar’s dominance won’t last forever

While we shouldn’t read too much into the Brics expansion, the geopolitical landscape is shifting

The Guardian - UK

Concrete alliance: On the BRICS grouping and its expansion

It is the promise of shared prosperity and a more democratic model of global governance that attracts the global south to BRICS

The Hindu

BRICS just invited 6 nations including Saudi Arabia and Iran to join—here's why it increases the prospect of dollar replacement

The idea of creating a BRICS common currency to rival the dollar has long been on the agenda of the emerging-market nations in the bloc.

Fortune

With Brics expansion, China seeks a global counterweight to US

The five Brics countries have announced plans to add six new members to their club. Observers say the expansion is intended to make the group a stronger player in the "multi-polar world" favoured by China to counter US supremacy. Will it succeed?

Radio France Internationale

What is Brics? Trump threatens 10 per cent extra tariff over 'anti-American' policies

Donald Trump has set strict rules for any country “aligning themselves with the Anti-American policies of BRICS”

Evening Standard

Can Brics replace the G7 in new world order?

The leaders of Brazil, India, China and South Africa kick off a three-day summit in Johannesburg today billed as the most important meeting of the Brics nations in a decade.

The Week

Fat cat bosses enjoy £500m pay rise as CEO salaries soar during cost of living crisis

Britain now ‘land of grotesque extremes’, say unions as wage gap widens

The Independent UK

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The Guardian - UK

Keir Starmer: I wouldn’t be able to go to university today

Labour leader says sluggish economy has driven up prices and is holding back students and apprentices

The Hindu

The BRICS test for India’s multipolarity rhetoric

The geopolitical developments of the past year or so and the challenges faced by the United Nations system may have given another lease of life to BRICS

The Independent UK

Russia, China look to advance agendas at BRICS summit of developing countries in South Africa

Russia and China will look to gain more political and economic ground in the developing world at a summit in South Africa this week

The Hindu

Explained | Why is the BRICS summit important for India?

BRICS 2023: How will fruitful India-China talks have a bearing on Delhi G20 summit? Will Vladimir Putin attend South Africa BRICS Summit?

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The National (Scotland)

GERS shows 'stark evidence of UK mismanagement of Scottish economy', says report

THE latest GERS figures provide “stark evidence” of the consequences of the UK Government’s mismanagement of the Scottish

The Conversation

Solidarity and symbolism the order of the day as US, Japan and South Korea leaders meet at Camp David

Camp David is associated with some special moments in diplomacy. In 1978, the presidential retreat in Maryland hosted Egyptian President Anwar al-Sadat and Israeli Prime Minister Menachem Begin – leading to the first peace treaty between Israel and an Arab state.

The Conversation

How gender inequality is hindering Japan's economic growth

Japan’s economy is under pressure from rising energy prices and defence costs and the impact of the pandemic. Plummeting birth rates and an ageing population further threaten the sustainability of its labour market. A 2023 study by independent thinktank the Recruit Works Institute points to a labour supply shortage of…

The National (Scotland)

Labour to impose two-child benefit cap 'more fairly' than Tories, Keir Starmer says

KEIR Starmer has said that a Labour government could impose a two-child cap on benefits “more fairly” than a Tory one – and insisted that…

The Independent UK

Employment levels still lower than before pandemic, analysis suggests

The research on official figures up to May showed the employment rate is lower now than it was in nine out of the 12 regions and nations.

The Guardian - AU

Australian government spent $42,000 on Sydney-themed Quad merchandise for event that didn’t go ahead

Exclusive: Items included stationery, media banners and accreditation lanyards for summit that was cancelled with just one week’s notice

The Hindu

G-20 negotiators face climate change hurdle

G-20 wrangling over climate change issues threatens to derail consensus ahead of leaders' summit; negotiations to continue in India.

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