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The Latest Breaking News from G20

Rachel Reeves basks in IMF backing for UK budget rules overhaul

In one session after another, IMF officials repeated backing for principle of increased borrowing to drive growth

The Guardian - UK

'Crunch time is here' UN warns as world heads for 3.1C warming

If countries fail to step up their climate policies, the world could warm by a huge 3.1C this century – leading to “catastrophic” increases in extreme weather events including heatwaves and floods, the UN’s environmental agency has warned.

Radio France Internationale

Mideast war not behind Aussie inflation: opposition

Unlike Australia, inflation and interest rates are falling in the UK, the US, Canada and New Zealand despite conflict in the Middle East, the opposition says.

AAP

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World on track for ‘catastrophic’ 3.1C of global warming this century, UN warns

International goal to limit warming to 1.5C will ‘soon be dead’ without a massive mobilisation to cut climate emissions, UN says.

Evening Standard

‘Crunch time for real’: UN says time for climate delays has run out

Means to stop catastrophic global heating exist, says UN chief, but political courage is needed to end world’s fossil fuel addiction

The Guardian - UK

Report suggests Reeves could announce plans to change Britain’s debt rules

The Chancellor will be looking to raise up to £40 billion from tax hikes and spending cuts in order to avoid a return to austerity.

Evening Standard

Rachel Reeves to turn on spending taps with Budget boost for infrastructure and clean energy

The chancellor is planning to change the government’s fiscal rules to free up billions of pounds of borrowing, which she will promise to spend laying ‘the foundations of future growth’

The Independent UK

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Reeves promises ‘reset for our economy’ as she prepares for first Budget

The Chancellor said she will make the UK ‘a rock of economic stability’.

The Independent UK

Australia facing further economic troubles

Australia is facing ongoing economic challenges as Labor holds out hope interest rates will come down before the federal election.

AAP

Lula and Petro have the chance of a lifetime to save the Amazon. Can they unite idealism and realpolitik to pull it off?

The South American leaders are in the spotlight as they prepare to host this week’s Cop16 biodiversity summit, November’s G20 meeting and next year’s Cop30 climate summit

The Guardian - UK

Timeline of tensions: How India-Canada relations soured

Tensions between the two countries were brewing long before the latest diplomatic spat.

Al Jazeera

Foreign aid for fossil fuel projects quadrupled in a single year

With clean air projects receiving just 1% of aid, activists say nations ‘cannot continue polluting practices at expense of climate stability’

The Guardian - UK

G20 environment ministers back funding for forest conservation

Environment ministers of the Group of 20 nations agreed Thursday to support the creation of funding sources for ecosystem services, acknowledging Brazil’s proposal to establish a trust fund for forest conservation

The Independent UK

Waiving the Filibuster to Pass a National Abortion Bill Is a Bad Idea

Democrats will live to regret doing this if they have the votes to do it.

Reason

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The Conversation

Easing Africa’s debt burdens: a fresh approach, based on an old idea

The statistics are stark: 54 governments, of which 25 are African, are spending at least 10% of their revenues on servicing their debts; 48 countries, home to 3.3 billion people, are spending more on debt service than on health or education.

TechRadar

How consumer behavior is driving the B2B payments industry

With instant access permeating consumer life, people now expect the same from B2B payment technologies.

The Guardian - UK

G20 countries turning backs on fossil fuel pledge, say campaigners

Promise to ‘transition away from fossil fuels’ made at Cop28 climate talks has been left out of draft resolutions

Newslaundry

Not a wobbly walk but fine balance: India’s Ukraine stance has always been clear

The latest phone conversation between Russian President Vladimir Putin and Indian Prime Minister Narendra Modi comes close on the heels of the PM’s visit to Ukraine three days ago, his visit to Russia last month, and a day after his phone call with US President Joe Biden. It also comes…

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The Guardian - UK

It’s August 2024 – and our world is at a turning point. Here’s what we should do now

I see looming political and environmental threats – and too few willing to address them. Where is the urgency, asks former UK prime minister Gordon Brown

The Guardian - UK

No more fiscal favours? Calls to tax super-rich gain traction around world

Even rightwing governments are joining in with G20-led push to make wealthy pay, with Italy doubling flat tax on foreign income

The Guardian - UK

Brazil led the way. Now the UK should get behind the assault on hunger and poverty

At its recent summit, Lula gave the G20 a chance to show its commitment to real change – and Britain can take the lead, says Kevin Watkins

The Guardian - UK

Who is brave enough to back Brazil’s global tax on billionaires? The answer will define our future

It would raise $250bn to help offset some of the damage the super-rich cause. Yet they’ll do everything to stop it in its tracks, says Guardian columnist George Monbiot

The Independent UK

G20 finance ministers agree to work toward effectively taxing the super-rich

Finance ministers from leading rich and developing nations have agreed to strive toward effectively taxing the super-rich

International Business Times

G20 Seeks Common Ground On Taxing Super-rich

G20 finance ministers are expected to take a first step towards international cooperation on taxing the super-rich Friday, with a deal in Brazil likely to call for individual nations to strengthen their own measures, rather than delivering a set of unified regulations.

Radio France Internationale

World's richest one percent made over $40 trillion in a decade, says Oxfam

The world's richest one percent increased their fortunes by a total of $42 trillion over the past decade, British NGO Oxfam announced ahead of a G20 summit in Brazil where taxing the super-rich is top of the agenda.

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