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The Latest Breaking News from G7

G-7 talks focus on ways to fortify banks, supply chains as China accuses group of hypocrisy

Financial leaders of the Group of Seven advanced economies are focusing on ways to fortify ever more complicated financial systems and supply chains during meetings in Japan ahead of a summit next week

The Independent UK

Finance Minister meets IMF MD Georgieva on sidelines of G7 meeting

Finance Minister Nirmala Sitharaman on May 12 met International Monetary Fund (IMF) managing director K Georgieva on the sidelines of G7 Finance Minister Central Bank Governors meet.

The Hindu

G7 finance chiefs debate reducing supply chain reliance on China

Finance leaders of the Group of Seven (G7) advanced economies discussed the need to make global supply chains more resilient by reducing over-reliance on China, German Finance Minister Christian Lindner said on Friday.

Reuters

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Japan pledges to mobilise $1 billion to help nations around Ukraine accept refugees

Japan will unveil a plan on Thursday to mobilise $1 billion to help countries surrounding Ukraine accept refugees from the war-torn country, Finance Minister Shunichi Suzuki said on Thursday.

Reuters

Brazil's Haddad raises concerns about economic situation, drought in Argentina

Brazilian Finance Minister Fernando Haddad expressed serious concerns on Thursday that Argentina's economic challenges and a major drought there could affect the country's "political destiny" and usher in an extremist government.

Reuters

US Treasury chief decries debt 'brinkmanship'

NIIGATA, Japan: Political brinkmanship over raising the US debt ceiling risks "serious economic costs" even without the "catastrophe" of a default, Treasury Secretary Janet Yellen warned Thursday at G7 finance talks in Japan.

Bangkok Post

Yellen highlights common goals with Brazil on climate, development

U.S. Treasury Secretary Janet Yellen highlighted the fight against climate change and other goals shared by the United States and Brazil, in a meeting with Brazilian Finance Minister Fernando Haddad in Japan on Thursday.

Reuters

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US debt standoff overshadows G7 finance leaders' meeting

A standoff in Washington over raising the U.S. debt ceiling overshadowed a meeting of Group of Seven (G7) finance leaders starting on Thursday, heightening U.S. recession fears as central banks seek a soft landing for the global economy.

Reuters

G7 finance ministers tackle global economic challenges as Yellen seeks to reassure on debt standoff

The financial leaders of the Group of Seven wealthy nations are meeting in Japan as a standoff over the U.S. debt ceiling looms as one of the biggest potential threats to the global economy

The Independent UK

Yellen, at G7, to underscore U.S. commitment to Ukraine for 'as long as it takes'

Treasury Secretary Janet Yellen on Thursday will underscore the United States' commitment to continue supporting Ukraine for as long as needed, while working with other rich nations to degrade Russia's ability to wage war against its neighbor.

Reuters

Companies are saying the UK is 'closed for business' - here's how it can become more open

Tech sector complaints about the difficulties of doing business in the UK have been repeated more recently by the manufacturing sector. A decade of “flip-flopping” by the government has left the UK without an industrial strategy, according to Make UK, which represents industrial and manufacturing employers.

The Conversation

Explainer-G7 Hiroshima Summit 2023: when is it, who will attend and what's on agenda?

Leaders of seven of the world's richest nations meet next week at the G7 summit in the Japanese city of Hiroshima to discuss geopolitical, economic and climate issues as the war in Ukraine drags on and tensions rise between China and the United States.

Reuters

Yellen heads to G7 with debt ceiling, bank crisis and tax woes in tow

Treasury Secretary Janet Yellen lands at Japan's G7 finance meeting this week, with her ambitious economic agenda hijacked by a bitter partisan fight over the U.S. debt ceiling that threatens a new financial crisis, and a signature tax deal blocked by Republicans.

Reuters

No quick deal in sight as EU countries start talks on new Russia sanctions

European Union states were holding a first discussion on Wednesday on proposed new sanctions over Russia's war in Ukraine that would target Chinese and Iranian firms and allow export curbs on third countries for busting trade restrictions.

Reuters

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Reuters

Biden to visit Papua New Guinea in a presidential first after G7

U.S. President Joe Biden will become the first U.S. sitting president to visit Papua New Guinea this month with a trip following the G7 in Japan, marking the administration's investment in the Pacific region to counter China.

Reuters

Japan MOF Kanda: Ukrainian finance minister to join G7 debate online

The Group of Seven finance ministers will invite their counterpart from Ukraine, Serhiy Marchenko, to participate in a session on the global economy, Japan's top financial diplomat Masato Kanda said on Tuesday.

Reuters

Ukraine's envoy to Japan urges G7 to condemn any threat to use nuclear weapons

The leaders of the Group of Seven (G7) rich nations must condemn any threat to use nuclear weapons and vow "decisive action" against such a move when they hold a summit next week in the city of Hiroshima, Ukraine's envoy to Japan said.

The Guardian - UK

UK shoppers cut spending amid pressure on Bank of England over inflation

Sluggish retail sales and credit card spending figures add to fears for British economy

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Axios

The West's uphill battle to sanction Russian diamonds

Russia counts diamonds as one of its top 10 non-energy exports by value.

WEKU

Leaders from Japan and South Korea vow better ties following summit

Japan's prime minister expressed sympathy toward Koreans forced into industrial slavery during Japan's colonial rule as the leaders from the two countries vowed to strengthen cooperation.

The Independent UK

Yoon, Kishida vow better Seoul-Tokyo ties following summit

South Korean President Yoon Suk Yeol is calling for officials to map out specific steps to hasten security and economic cooperation with Japan following his weekend summit in Seoul with Japanese Prime Minister Fumio Kishida

The Independent UK

Sunak and Trudeau emphasise UK-Canada ties at post-coronation meeting over tea

The two leaders hugged when the Canadian prime minister arrived at No 10.

Reuters

Japan's PM Kishida seeks closer ties with Africa in bid to woo 'Global South'

Japanese Prime Minister Fumio Kishida said on Thursday he hoped to see closer ties between Japan and Africa as he seeks to win over the "Global South" ahead of a Group of Seven (G7) summit he will host later this month.

Reuters

Yellen to travel to Japan for G7 finance ministers meeting

U.S. Treasury Secretary Janet Yellen will travel to Niigata, Japan next week to participate in the Group of Seven (G7) finance ministers and central bank governors meeting, the Treasury Department said on Wednesday.

The Guardian - UK

Nato planning to open Japan office to deepen Asia-Pacific ties – report

Liaison office plans likely to attract criticism from China which has warned against the western alliance extending into Asia

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