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The Latest Breaking News from G7

Britain to be worst-performing major economy this year, warns IMF; UK mortgage approvals tumble and company insolvencies surge – as it happened

Britain is the only G7 economy forecast to shrink in 2023, the IMF says, as higher energy prices, rising mortgage costs and increased taxes hit growth.

The Guardian - UK

IMF warns UK economy is set for sharp contraction in ‘weakest performance among G7’

IMF predicts UK economy will contract by 0.6% in 2023 as Britain looks set to suffer more than most from soaring inflation

The Independent UK

UK tipped to be weakest major economy in world as cost-of-living crisis hits households hard

The IMF has predicted UK output to shrink by 0.6% this year

Wales Online

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UK economy to shrink more than Russia, predicts IMF

The forecast leaves the UK economy languishing behind sanctions-hit Russia

The Independent UK

Britain the only G7 economy forecast to shrink in 2023

IMF says UK economy is likely to contract 0.6% as rising interest rates and higher taxes take toll

The Guardian - UK

UK economy to go BACKWARDS in 2023 with worst performance of all major nations

The UK is set to see its economy contract 0.6% this year according to the International Monetary Fund which will be the worst performance of all the advanced nations

Daily Mirror

UK recession warning as IMF predicts weakest performance among G7

Britain's economy will slam into reverse this year as the cost-of-living crisis hits households hard, the International Monetary Fund warns

Evening Standard

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Jeremy Hunt bizarrely twice refuses to say if he's paid a tax fine before changing mind

The Chancellor claimed that people at home were not 'remotely interested in personal tax affairs' after delivering a speech on the government's economic priorities

Daily Mirror

Figures show UK £60bn worse off than other countries as Jeremy Hunt lays out growth plan

The dismal analysis came as Chancellor Jeremy Hunt gave a speech laying out the government's plans for investment and growth

Daily Mirror

Russia sanctions, Ukraine support to be G7 priority, says Japan diplomat

Japan, this year's chair of the Group of Seven (G7), expects Russia's invasion of Ukraine to dominate talks among the world's major advanced economies, its top finance diplomat, Masato Kanda, told Reuters.

Reuters

Doomsday Clock moved to worrying position for first time amid nuclear war tensions rising

The clock was created in 1947 to warn humanity of the dangers of nuclear weapons.

Daily Record

G7, partners vow to support Ukraine's energy sector, U.S. says

G7 and other partner countries on Tuesday pledged to maintain their support for Ukraine's energy sector, including delivering equipment and other humanitarian aid during winter, the U.S. State Department said following a meeting of the group's foreign ministers.

Reuters

Has Ontario’s housing 'plan' been built on a foundation of evidentiary sand?

In late 2022, the Ontario government adopted Bill 23, the More Homes Built Faster Act. The legislation made sweeping changes to the province’s land use planning system.

The Conversation

Kishida-Zelenskyy meeting being considered for February

Plans are underway to realize a February meeting between Prime Minister Fumio Kishida and Ukrainian President Volodymyr Zelenskyy in Kyiv.

The Japan News/Yomiuri

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Reuters

Japan PM Kishida weighs Feb. Ukraine visit to hold talks with Zelenskiy -Yomiuri

Japanese Prime Minister Fumio Kishida is considering visiting Kyiv in February and holding talks with Ukraine's President Volodomyr Zelenskiy, the Yomiuri newspaper said, citing Japanese government sources.

Reuters

G7 agrees to review level of price cap on Russian oil in March -US Treasury

Group of Seven officials have agreed to review the level of the price cap on exports of Russian oil in March, U.S. Treasury Deputy Secretary Wally Adeyemo said on Friday.

The Independent UK

Senior officers distracted by G7 summit in Cornwall, Keyham inquest told

The G7 summit saw world leaders gather in Carbis Bay in June 2021.

The Japan News/Yomiuri

Political Pulse / Japan's unbalanced public finances need open-eyed risk management

Japan's government debt has been exceptionally high among major industrialized countries for over two decades. The risks posed by this massive debt must be properly analyzed and managed.

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The Japan News/Yomiuri

Hiroshima Peace Museum visit likely to be on G7 summit itinerary

Arrangements are being made for the leaders of the Group of Seven nations to visit the Hiroshima Peace Memorial Museum when they visit Hiroshima for the G7 summit on May 19-21, several government sources said.

Reuters

Japan to roll out plans to back Ukraine at 'appropriate time', U.S. official says

Japan is engaged deeply on issues in Ukraine and is expected to roll out plans at the "appropriate time" to support Kyiv against Russia's invasion, White House Indo-Pacific coordinator Kurt Campbell said on Tuesday.

Reuters

Exclusive-Russia sees sanctions impact on oil products, eyes crude export boost -senior source

Russia expects Western sanctions to have a significant impact on its oil products exports and therefore its production, but that will likely leave more crude oil to sell, a senior Russian source with detailed knowledge of the outlook told Reuters.

Newsroom.co.nz

What Japan’s foreign policy shifts mean for NZ

Tokyo’s dramatic and hawkish turn towards defence in the face of China's growing influence is likely to have ramifications for New Zealand. Geoffrey Miller explains.

The Japan News/Yomiuri

Kishida secures cooperation from five G7 leaders

Prime Minister Fumio Kishida has secured cooperation from the leaders of the five Group of Seven countries he visited this month on policies toward Russia and China, in preparation for the G7 summit Japan will host in Hiroshima in May.

The Japan News/Yomiuri

Kishida-Biden summit makes show of unity in confronting China

WASHINGTON -- Prime Minister Fumio Kishida and U.S. President Joe Biden confirmed their nations' desire to enhance cooperation to realize the vision of a free and open Indo-Pacific, showing a united front toward China.

Reuters

Kishida says G7 should show strong will on Russia's Ukraine invasion

Japanese Prime Minister Fumio Kishida said on Saturday that the G7 summit in Hiroshima in May should demonstrate a strong will to uphold international order and rule of law after Russia's invasion of Ukraine.

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